According to James Bullard, president of the Federal Reserve Bank of St. Louis, the interest rate should be raised to at least 5-5.25%. After analyzing the current data, Bullard said that his old suggestions to raise the rate to 4.75-5% are now outdated.

Oil prices have begun to fall amid pressure from concerns about the unfavorable demand outlook for crude oil.

Natural gas prices in Europe continue to decline. The reason is the synoptics' statements about warmer weather in the region, having delayed the start of the heating season.

The EURUSD pair might reach the level of 1.1 even if no significant changes in the current geopolitical environment happen.

Amid a slowing economy and officials' desperate fight against inflation, the European Central Bank (ECB) issued a report this Wednesday saying financial stability is in danger. Lenders are at risk of being hit as well as the governments and households.

Bank of Japan (BOJ) deputy governor Hiroshi Nakaso declared that the central banks should stop the emergency support measures for the economy to avoid the moral hazard for the market.

According to Cisco, quarterly sales for January will increase from 4.5% to 6.5%. Analysts expect revenue to be up 4% compared to last year. Revenue is projected to grow 6.5% in fiscal 2023, up as much as 6% from previous estimates.

Analyzing the latest inflation data, Christopher Waller, a member of the Federal Reserve Board of Governors, gets more reasons for why the Fed needs to raise interest rates as soon as its next meeting, which will be in December.

In October, there was an increase in Japan’s trade balance deficit because of a rapid growth of import costs, which, in turn, was driven by a record fall in the yen. Cumulatively, these factors have had a detrimental impact on the country’s economy.

On Wednesday, U.S. Secretary of Treasury Janet Yellen said that cryptocurrency markets require more reliable oversight. According to Reuters, this statement was made after the crash on the FTX cryptocurrency exchange.