Monday, May 29, 2023

Dollar started to rise on Friday in anticipation of debt agreement in the United States

At the end of the third week of May, the dollar went up Despite the optimism of the resolution of United States debt crisis That you have until June 1st to approve the necessary funds for your obligations.

Minutes after commencing operations in Colombia, The dollar opened below the representative market rate (TRM) at $4,511.50. Which was located at $4,521.64 for this Friday, May 19th. However, after the first few minutes of trading, the dollar had already climbed over $4.

Markets welcomed the optimism that leaders In Washington they’re reaching an agreement to raise the debt ceiling, A broad rally began on Friday in stocks from Europe to Japan.

The DAX index was headed for its first record high since January 2022. Oil ends its best week since mid-April And the Nikkei 225 closed at a 33-year high as momentum turned from Wall Street. S&P 500 futures climbed 0.3% after the gauge hit a nine-month high on Thursday.

In a call from Japan early Friday, President Joe Biden told his negotiating team that he believed Congress will take timely action to prevent the lapse, According to a White House official. House Speaker Kevin McCarthy and Senate Majority Leader Chuck Schumer plan to vote on the bipartisan deal in the coming days.

Oil was headed for its first weekly gain in more than a month on optimism that the United States will reach an agreement to raise its debt limit and avoid a catastrophic default.

West Texas Intermediate (WTI) futures climbed above $72 a barrel, extending this week’s gains to nearly 3%. US House Speaker Kevin McCarthy said later this week negotiators could reach an agreement in principle.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news


Please enter your comment!
Please enter your name here