European Central Bank Executive Board member Isabel Schnabel said further rate hikes were needed from today's perspective to return inflation to the ECB's 2% target, despite the ceasefire in the Iran war and the recent fall in oil prices. Schnabel told German weekly Die Zeit in an interview published Wednesday that the ceasefire was "not a reason to sound ...

Oil tanker rates have soared since the U.S. and Iran announced the memorandum of understanding as oil importers scramble to charter vessels to pick up Persian Gulf cargoes in the hope these can transit the tentatively reopening Strait of Hormuz. One tanker has been provisionally booked to ship crude from the Persian Gulf to India at a rate that’s nine times ...

The results of the Federal Reserve Board's annual bank stress test confirmed that large banks are well positioned to weather a severe recession and able to continue to lend to households and businesses. Despite absorbing more than $708 billion in total loan losses under this year's hypothetical scenario, capital declined only 1.6 percentage points in aggregate, staying above minimum capital requirements. "Today's results underscore the strength of the banking system," Vice Chair for Supervision Michelle W. Bowman said. "As we work to increase the transparency and accountability of the stress test, public feedback will help us continue to improve and instill greater confidence in the stress test and its results." As the Board previously announced, today's results will not impact large bank capital requirements, which have been published today. The current capital requirements will stay in place until 2027, when the stress test will be run with loss-estimating models that take public feedback into consideration. All 32 banks tested remained above their minimum common equity tier 1 capital requirements during this year's hypothetical recession scenario, which was similar in severity to the prior test. The hypothetical scenario this year included a severe global recession with a 39 percent decline in commercial real estate prices and a 30 percent decline in house prices. The unemployment rate also increased to a peak of 10 percent, and economic output declined commensurately. Three main factors influenced the results of this year's test, with two leading to a larger decline in the aggregate capital ratio than last year, and one more than offsetting this decli The Fed: 32 large banks are well-positioned to weather a severe recession and continue lending under the latest stress test - Statement

EUR/USD, inflation expectations and Federal Reserve policy are back in focus as the euro breaks to fresh yearly lows. Michael Boutros, FOREX.com Senior Market Analyst, examines the key technical breakdown levels, downside targets, and how upcoming PCE inflation data and Non-Farm Payrolls could reshape Federal Reserve rate expectations and the next major ...