The OPEC+ alliance is likely to stick with a plan to raise oil production modestly on Thursday and confirm that it is not responsible for global supply disruptions while stressing that the coronavirus-related shutdowns in China threaten demand expectations. Five OPEC+ delegates are expected to agree to an increase of …

The Bank of England on Thursday raised interest rates by 25 bps to 1.0%. Six of the bank’s nine rate-setters supported the 25 bps hike, though three wanted a larger 50 bps move. The rate hike was in line with expectations, but the vote split was more hawkish than expected, …

The German Factory Orders fell sharply in March, suggesting that the manufacturing sector of Europe’s economic powerhouse is seeing a fresh downturn. Contracts for goods ‘Made in Germany’ declined by 4.7% on the month vs. -1.1% expected and -0.8% last, the latest data published by the Federal Statistics Office showed on …

Turkey’s annual inflation rate jumped to 69.97 percent in April, exceeding expectations and constituting the highest inflation level in two decades, data showed on Thursday, driven by the Russian-Ukrainian conflict and the rise in commodity prices after the lira collapsed late last year. The Turkish Statistical Institute said consumer prices …

European shares rose on Thursday, tracking Wall Street’s rally overnight, after the US Federal Reserve raised interest rates as expected but calmed bets on a major tightening, with sentiment rebounding further thanks to a streak of big profits. The pan-European Stoxx 600 index rose 1.8 percent, reversing many of the …

Gold prices rose on Thursday after the US Federal Reserve raised interest rates by 50 basis points to curb inflation, which the central bank sees as a factor threatening the economy, while ruling out a larger rate hike this year. Gold in spot transactions rose 0.9 percent to $ 1898.06 …

Oil, Crude, trading

Oil, Crude, trading

Negative movements dominated the British pound against its Japanese counterpart after hitting the resistance level of 163.60, which forced the pair to trade with clear negativity again, to witness the stability of the current movement around the lowest level during early trading at 162.10. On the technical side, today, we …

The Canadian dollar declined noticeably after several days of consecutive ascent after it succeeded in recording its highest levels around the psychological barrier of 1.2900. Technically, we find that the pair failed to stabilize for a long time above 1.2900 and failed to maintain the trading level above 1.2750. With …