Daily Economic Reports

Oil prices jumped on Wednesday as the European Union, the world’s largest trading bloc, announced plans to phase out Russian oil imports, offsetting fears of declining demand from China, the world’s largest oil importer. By 0746 GMT, Brent crude futures rose $2.94 a barrel, or 2.8 percent, to $107.91 a …

Oil prices rose in early Asian trade on Wednesday after industrial data showed a decline in US crude and fuel stocks, which raised supply concerns. The price hike comes on the back of Tuesday’s news that the European Union is preparing to impose new sanctions on Russia over its invasion …

The investors’ major focus point on Wednesday will be on the decision and press conference by the two-day Fed’s policy meeting, as financial markets expect the US central bank to press ahead with a rate hike and formally announce the launch of a much-anticipated balance sheet reduction.The Federal Open Market …

On Tuesday, the euro settled near a five-year low against the dollar, ahead of a speech by European Central Bank President Christine Lagarde. The dollar fell slightly from its highest level in 20 years against a basket of currencies before an expected hike in the US interest rate this week, …

Oil prices fell on Tuesday under pressure from China’s COVID-19 shutdown that could affect demand, but prices found support from a possible European oil embargo on Russia over its invasion of Ukraine. Beijing, which records dozens of new infections with the Coronavirus daily, is conducting mass examinations of the population …

The Fed’s favorite inflation gauge slowed in March, in its first retreat in more than one year, according to a report issued Friday in the run-up to next week’s meeting of the policy-setting Federal Open Market Committee.PCE data gives a reading of the Personal Consumption Expenditures Price Index that excludes …

Oil prices rose for a fourth day on Friday as fears of Russian supply disruptions outweighed the impact of anti-Covid-19 lockdown restrictions in China, the world’s largest crude importer, casting a shadow on demand. By 0639 GMT, Brent crude futures rose 88 cents, or 0.8 percent, to $108.47 a barrel, …

WTI crude oil has rallied to its highest level since last Tuesday above $105.00 and is now eyeing a retest of recent near $110 highs. Traders cited a report alleging that the EU nations are nearing agreement on a Russian oil import embargo as supporting prices.At current levels in the …

The dollar rose against the yen above 130 yen on Thursday for the first time since 2002, after the Bank of Japan maintained its commitment to ultra-loose monetary policy, while the euro briefly fell below $1.05. There was some speculation in the market that the BoJ might pull back a …

US Treasury yields surged at the long end on Wednesday after the prior day’s rally as investors awaited greater clarity on the “restrictive” policy the Federal Reserve plans to pursue next week to combat inflation by curbing economic growth.This week a lot of the price action you’ve seen in bonds …