Daily Economic Reports

The Bank of England (BoE) will have its monetary policy decision. Accord points to a 50 bps rate hike, but a 75 bps is not ruled out.However, analysts at Danske Bank expect fewer hikes than priced in markets as they emphasize the rising recession risk in the UK. On Thursday, …

The impact of Russia’s sudden block of natural gas taps to Europe has saturated manufacturers and businesses in fresh risks. Energy prices climbed so fast that some factory owners had to rewrite business forecasts six times in two months. Recently, some manufacturers have put a third of their employees on …

The dollar climbed to near 20-year highs against other major currencies on Monday, ahead of a slew of central bank meetings, including a meeting of the US Federal Reserve that is likely to approve another big interest rate hike. Exchanges were generally thin, with markets in London and Tokyo closed …

The GBP/USD pair is expected to finish the current week with more than 1.50% losses, ahead of BoE’s and Fed decisions. The pair is trading at 1.14 at the time of writing versus Thursday’s closing price at 1.1395.The University of Michigan Consumer Sentiment improved versus the last month’s reading, while …

Japan has got a long history of interventions to stop the yen from falling. Efforts to stop the yen’s sharp falls through unilateral market intervention could only have a limited impact according to a senior member of the country’s ruling party as data showed the Yen’s latest drop is blowing …

Gold price has retreated but eventually was able to stabilize ahead of the looming FOMC’s rate hike and Ukraine peace talks Gold held steady as traders have worries concerning the monetary tightening path by the US central bank after economic data, including Tuesday’s CPI and Wednesday’s PPI, pointed to elevated …

Oil prices fell slightly on Wednesday, amid fears that the US Federal Reserve will raise interest rates again next week after an unexpected rise in consumer prices in August, dispelling support from a strong outlook for the Organization of the Petroleum Exporting Countries on the growth of oil demand. Brent …

Global economic growth is expected to continue strong at 3.1% this year and another 3.1% in 2023 according to OPEC’s forecast, on Tuesday, suggesting that the group expects healthy oil demand growth despite market fears of recession. In its September Monthly Oil Market Report (MOMR) published today, OPEC made no …

The performance of oil price gets firmer during the US session as both WTI and Brent crude benefit from strong risk appetite and exploit today’s weaker US Dollar. Equities in the US have pushed higher over the last week ahead of tomorrow’s CPI data, with traders betting that the peak …

Oil prices rose on Monday after Iran’s nuclear talks appeared to have reached a dead end and with the implementation of a Russian oil ban imminent, scarce supplies struggled to meet still-strong demand. Brent crude futures rose 88 cents, or 1 percent, to $93.72 a barrel by 1100 GMT. US …