Concerned About Russia-Ukraine WarUS shares were down for a fourth consecutive session on Wednesday fears about a full-scale Russian invasion of Ukraine continued to rise.The S&P 500 fell back under the 4300 level and hit fresh monthly lows under 4260, with bears eyeing a test of annual lows around 4222. …
Read More »BoE’s Tenreyro sees case for small increase in rates
Bank of England policymaker Silvana Tenreyro said on Wednesday that she saw a point for higher interest rates to tackle inflation near a 30-year high, but the extent of tightening needed was uncertain.Financial markets currently price in BoE interest rates reaching nearly 2% by the end of this year, but …
Read More »ECB’s De Cos: Energy causes inflation spike to last longer
European Central Bank governing council member and Bank of Spain head Pablo Hernandez De Cos said on Wednesday that the surge in Eurozone inflation is lasting longer than expected and is largely a result of energy. There are inflation risks to the upside and are most in the short-term, he …
Read More »Eurozone’s supply chain issues could remain elevated until year end
Data released on Wednesday showed Eurozone’s Inflation came in at 5.1% in January, on a yearly basis, according to Eurostat. Core figures rose by 2.3%, matching the 2.3% consensus forecasts. Analysts at Danske Bank revise their 2022 forecast for HICP (inflation) and core inflation to 4.7% and 2.4%, respectively, due …
Read More »Washington Warns Ukraine Of Full-Scale Russian Attack Within 48 Hours
According to US intelligence sources speaking to Newsweek, the US has informed Ukraine of a Russian plan to invade with 48 hours. An intelligence official said that the US had informed Ukrainian President Volodymyr Zelenskyy that the Russian plan would involve air strikes, cruise missiles, ground troops and cyberattacks.The US …
Read More »European Shares Rise, Supported by Strong Earnings
European shares jumped 1% on Wednesday, supported by a batch of strong earnings data, and as investors digested news of the first Western sanctions against Russia over its crisis with Ukraine. The pan-European STOXX 600 index rose 1.1 percent after fears of a full-blown Russian invasion of Ukraine pushed it …
Read More »Japan Imposes New Sanctions Against Russia
The Prime Minister of Japan, Kishida Fumio, announced the imposition of sanctions against Russia against the backdrop of Russia’s recognition of the independence of the Donetsk and Luhansk People’s Republics from Ukraine. Japan’s sanctions stipulate banning exports from the republics of Donetsk and Luhansk, freezing the assets of their officials, …
Read More »Market Drivers – US Session – 22 Feb. 2022
Relatively short wave of optimism touched financial markets during London trading hours, as Ukrainian President V. Zelenskyy said that he believes there would not be war nor a wider escalation. Economic DataMarkit flash PMIs for the EU, and the US were generally encouraging, indicating economic expansion in February as the …
Read More »US Equities recover after Biden’s Speech
The US equities recovered from intra-day lows on Tuesday in wake of US President Joe Biden’s announcement of new sanctions targeting Russian banks, sovereign debt and wealthy individuals, joining the UK and EU who had already announced similar measures.After Biden’s remarks, where he urged that the door for diplomacy remains …
Read More »US Markit Manufacturing PMI rises to 57.5 Above expectation
The economic activity in the US manufacturing sector continued to expand in February, at a faster pace than it did in January, with IHS Markit’s Manufacturing PMI rising to 57.5 (preliminary) from 55.5. This fresh reading came in above market’s expectation of 56.0. The pace of economic growth accelerated sharply …
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