The UAE Energy Minister, Suhail Al Mazrouei, said today, Monday, that the UAE will work with OPEC + to ensure the stability of the energy market, according to what was reported by Reuters. He added in an energy forum that the UAE is trying its best and raising its production …
Read More »US: Weekly Initial Jobless Claims Fall to 187K
There were 187,000 initial jobless claims in the US in the week ending on 19 March, less than the 212,000 expected and below the week prior, when there were 215,000 claims (revised up from 214,000), data published by the US Department of Labor (DOL) revealed on Thursday. The four-week moving …
Read More »Canada: Retail Sales rise by 3.2% in January
Headline Canadian Retail Sales rose at a pace of 3.2% MoM in January, much stronger than the expected 2.4% gain, marking a strong rebound from December’s Omicron Covid-19 variant induced drop of 1.8% MoM, data released by Statistics Canada showed on Friday. Retail Sales excluding autos also saw stronger than …
Read More »Weekly Initial Jobless Claims Fall to 214K
There were 214,000 initial jobless claims in the US in the week ending on 12 March, less than the 220,000 expected and below the week prior, when there were 229,000 claims (revised up from 227,000), data published by the US Department of Labor (DOL) revealed on Thursday. The four-week moving …
Read More »BoE Hikes interest rates by 25bps to 0.75% as expected
In its latest monetary policy announcement, the Bank of England (BoE) opted to raise the benchmark UK interest rate by a further 25bps to 0.75% from 0.50%, as had been widely expected. GBP’s kneejerk reaction was to drop sharply as a result of only eight on nine Monetary Policy Committee …
Read More »Powell: If required, Fed will hike interest rates as fast as practically possible
Fed Chair Jerome Powell said in his post-FOMC meeting press conference on Wednesday that the Fed will move interest rates higher as quickly as it practically can and will move rates beyond the neutral rate if required. We will not let high inflation become entrenched, he said. Key remarks:“Nothing in …
Read More »Powell: If appropriate, can move rates up more quickly
Fed Chair Jerome Powell said in his post-FOMC meeting press conference on Wednesday that every meeting going forward is going to be a live meeting (i.e. there could be a 25bps rate hike) and, if it’s appropriate to move rates up more quickly, we will do so. Additional Quotes:“It’s certainly …
Read More »Powell: US Economy Very Strong, Labour Markets Extremely Tight, Inflation Above Goal
Fed Chair Jerome Powell said in his post-FOMC meeting press conference on Wednesday that the US economy is very strong and the Fed thus expects to reduce the size of its balance sheet. The slowdown from Omicron was mild and brief, Powell added, noting that labour markets are extremely tight …
Read More »Fed lifts rate by 25bps, signals more hikes
The US Federal Reserve announced on Wednesday that the Federal Open Market Committee (FOMC) had voted to lift the Federal Funds Rate (FFR) target range to 0.25-0.50% from 0.00-0.25%, as expected. In the Fed’s updated statement on monetary policy, it signaled that further rate hikes would likely be appropriate, as …
Read More »US dollar, Gold Surge On Putin’s Remarks: Kyiv is not serious about a solution
Russia’s President Vladimir V. Putin has said that Kyiv is not serious about finding a mutually acceptable solution.Markets have reacted negatively to the news, with stocks retreating from the highs and the safe-haven dollar and gold rising. Investors have been pinning their hopes on negotiations between Russia and Ukraine, which …
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