International Energy Agency Director Fatih Birol said on Wednesday that the Organization of the Petroleum Exporting Countries (OPEC) and its allies, the cartel is known as OPEC+, must narrow the gap between their production targets and actual production. “There is a significant difference between the targets that OPEC+ countries set …
Read More »European Shares Rise With Focus on Ukraine
European shares posted cautious gains on Wednesday, buoyed by hopes of easing tensions between Russia and Ukraine, although the rise of Britain’s blue-chip index remained limited by accelerating inflation. The pan-European STOXX 600 index rose 0.2 percent by 0810 GMT, after rising 1.4 percent in the previous session, when Russia …
Read More »Oil Recovers Losses as Tensions Over Ukraine Persist
Oil prices recouped some of their losses Wednesday, February 16, as investors evaluated conflicting statements about a possible withdrawal of some Russian troops from Ukraine’s borders, amid global supply shortfalls and rebounding fuel demand. Brent crude was traded at $93.86 a barrel at 10:00 GMT, up 62 cents, or 0.6%, …
Read More »Euro Area Industrial Production Rises by 1.2% in December
Industrial Production in the euro area increased by 1.2% on a monthly basis in December, Eurostat reported on Wednesday. This reading followed November’s expansion of 2.4% but surpassed the market expectation of 0.3%. In the EU, Industrial Production was up 0.7%. On a yearly basis, Industrial Production in the euro …
Read More »Canadian CPI Preview: Forecasts From Three Major Banks
Statistics Canada will release January Consumer Price Index (CPI) data on Wednesday, February 16 at 13:30 and as we get closer to the release time, here are the forecasts by the economists and researchers of three major banks regarding the upcoming Canadian inflation data. NBF “While we expect strong print …
Read More »UK Annualized Inflation Surges to 5.5%
The UK Consumer Prices Index (CPI) 12-month rate came in at 5.5% in January when compared to +5.4% registered in December while beating expectations of a +5.4% print, the UK Office for National Statistics (ONS) reported on Wednesday. Meanwhile, the core inflation gauge (excluding volatile food and energy items) rose …
Read More »Japan Stocks Rise, Technology Sector Leads Gains
Japanese shares rallied on Wednesday after losses for two consecutive sessions, and the technology sector led the gains, tracking its US counterpart after signs of easing tensions between Russia and Ukraine pushed Wall Street to a sharp rise. The Nikkei index jumped 2.2 percent to close at 27,460.40 points, while …
Read More »German DAX Achieves Remarkable Gains 16/2/2022
The German DAX index jumped, achieving notable gains, recording its highest level at 15,426, moving away from the pivotal support level 15,000. On the technical side, today, there may be a possibility to resume the rise that started yesterday due to the positive motive coming from the 50-day moving average, …
Read More »Dow Jones: Dow Jones May See Bullish Slope 16/2/2022
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Read More »GBP/JPY: Building on Support 16/2/2022
During yesterday’s trading session, the Pound Sterling presented positive trades, benefiting from a base at the 156.20 support level, recording its highest level near the pivotal resistance 157.00. On the technical side, the pair is trying to consolidate above 156.20, accompanied by the positive attempts of the stochastic indicator, in …
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