Economic Report

Oil prices rose slightly on Wednesday, after data showing a larger-than-expected decline in US crude inventories last week offset fears that China’s fuel demand will decline amid tightening COVID-19 restrictions. Brent crude futures rose 27 cents, or 0.3 percent, to $88.63 a barrel at 0719 GMT, while West Texas Intermediate …

Global equities surged on Tuesday while US Treasury yields dropped ahead of the awaited release of the Federal Reserve’s meeting minutes for November. Investors are looking forward to clues on the upcoming US interest rate hiking. On the other hand, China’s COVID restrictions weighed on the overall market sentiment.Benchmark 10-year …

The British Pound extended its gains amid prevalent positive risk appetite on Tuesday. The Pound Sterling climbed in the US session, though Fed’s hawkish commentary continued and policymakers expressed the likelihood of moderating the tightening cycle pace. China’s Covid-19 outbreak constitutes another factor triggering investors’ fears, though some fears weakened …

On November 1 New Zealand house prices showed the first sign of strain, with their first annual fall in more than 11 years. Prices fell 0.6% from the previous year, and values fell for a 7th consecutive month. This is due to the affordability challenge for buyers either getting new …

On Monday, oil prices recovered from earlier losses after Saudi Arabia had denied news alleging that it was discussing an increase in oil output with OPEC and allies. Brent crude futures for January settled at $87.45, shedding 17 cents. WTI crude futures for December settled at $79.73 per barrel, falling …

Inflation, geopolitical tensions and global growth-linked worries impacted almost all financial markets. EU inflation retreated in October but is still hot. The EUR/USD pair held above the 1.0300 level with no signs of declining.As the Fed’s battle against inflation arrives at a new and more challenging stage, services will be …

US President Joe Biden cautioned on Friday that ““it’s going to take time to get inflation back down to normal levels.”, but he assured that legislation he signed earlier this year will help limit costs for health care and energy.However, he said that “in six short weeks, Americans are going …

This week’s UK Fiscal Statement, including tax rises and spending cuts announced by Jeremy Hunt, could mark the beginning of the process of restoring the UK’s impacted reputation, according to the Institute of Fiscal Studies. ‘The swing over a couple of months from Kwasi Kwarteng’s fiscal loosening to a big …

The dollar is heading for its best week in a month on Friday, as comments from Federal Reserve officials and stronger-than-expected retail sales data curbed the US currency’s slide after signs of easing inflation. It was also helped by Thursday’s 0.4 percent decline in the British pound after a British …

Oil prices rose Friday, November 18, with the decline of the dollar, but they are heading towards incurring weekly losses due to expectations that the pace of the sharp rise in US interest rates will not ease, as well as expectations of weak demand from China, the largest importer of …