Richmond Fed President and FOMC member Thomas Barkin said on Thursday that he hopes the Fed can restore interest rates back to pre-pandemic levels fairly quickly, reported Reuters. Barkin added that it is timely to normalise rates given strong demand, the tight labour market and high inflation. Barkin said that …
Read More »EIA: US natural gas supplies retreat
The US Energy Information Administration reported on Thursday that domestic natural-gas supplies fell by 129 billion cubic feet for the week ended Feb. 18. Total supplies in storage stand at 1.782 trillion cubic feet. The change in stocks compared with the average weekly decline of 128 billion cubic feet forecast …
Read More »Global Markets Shocked By Russia’s Military Assault-Related Signals
A typically dark day for Europe witnessed extraordinary shock across financial markets. This report sums up some of the signals that world economy received during the first hours of the assault. Dow Jones plunges as Russian assault against Ukraine roils global markets, oil prices soared to record highs after Russia …
Read More »Oil Tops $105 a Barrel After Russian Attack on Ukraine
Oil prices rose on Thursday, with Brent crude exceeding $105 a barrel for the first time since 2014 after a Russian attack on Ukraine raised fears of a war in Europe that could disrupt global energy supplies. Brent crude prices rose $8.24, or 8.5 percent, to $105.08 a barrel by …
Read More »US Wheat And Corn Prices Rise Sharply After The Russian Attack on Ukraine
US wheat and corn futures rose to the highest intraday trading level on Thursday, while soybean prices hit their highest level since 2012 after Russian forces attacked Ukraine, raising fears of a global supply impact. Wheat prices rose for the third day in a row, reaching their highest level in …
Read More »Gold Jumps More Than 2%
On Wednesday, Ukraine called its citizens back from Russia and declared a state of emergency. While, Moscow began evacuating its Kyiv embassy, in the latest ominous signs for Ukrainians who fear an all-out Russian military onslaught, as per Reuters. Gold prices jumped more than 2% to their highest level in …
Read More »Oil Stabilizes, Expectations That The U.S Will Not Target Russian Oil Exports
Oil prices stabilized on Wednesday, below their highest levels since 2014, as US officials indicated that an escalation between Russia and Ukraine is unlikely to lead to sanctions on energy supplies from Russia, one of the world’s largest oil producers. Brent crude remained unchanged, reaching $96.84 a barrel, after hitting …
Read More »Market Drivers – US Session – 23 February
The US session closed with investors expressing very pale optimism about Eastern Europe developments, despite this weak optimism the market’s sentiment deteriorated during US trading hours, resulting in the stronger USD against most of its major rivals.Ukraine declared the State of Emergency starting February 24 and for 30 days amid …
Read More »Gold Attempts To Reclaim $1914 Amid Risk-Aversion
On Wednesday, Ukraine called its citizens back from Russia and declared a state of emergency. While, Moscow began evacuating its Kyiv embassy, in the latest ominous signs for Ukrainians who fear an all-out Russian military onslaught, as per Reuters.The lack of positive developments over the Russia-Ukraine tussle has put the …
Read More »USD Winner Amid Eastern Europe Crisis
The day started with investors optimistic about Eastern Europe developments, but the market sentiment deteriorated during the US trading session’s hours, resulting in the stronger USD against most of major global counterparts.Ukraine has declared the State of Emergency starting 24 February for 30 days amid reports from US intelligence indicating …
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