Market Update

International Monetary Fund Managing Director Kristalina Georgieva said on Monday that the tightening of financial conditions, the rise of the dollar and the slowdown in China’s economy are all factors affecting the global economy, but the IMF does not expect a global recession. “All of these factors make ratings downgrades …

German Economy Minister Robert Habeck said in a radio interview that the European Union has not yet agreed to the Russian oil embargo, adding that Germany would be willing to abandon Hungary’s participation to speed up the implementation of the proposed embargo. “If the commission chairperson says 26 countries will …

Oil prices rose in early trading on Monday as US fuel demand, tight supplies and a slight decline in the dollar supported the market as Shanghai prepared to reopen after a two-month shutdown, raising concerns about a sharp slowdown in growth. Brent crude futures rose 82 cents to $113.37 a …

The Japanese Nikkei index closed up by one percent on Monday, to return to the level of 27,000 points, tracking early gains in US stocks. The Nikkei rose to 27,047.47 points on the day shortly after the open, approaching its highest level in a month but then retreating, before rising …

On Monday, markets are getting prepared to deal with a new government in Australia, whose new leaders will be sworn in following the Labour Party’s electoral victory Saturday.In what is a seismic shift in its politics, the Australian dollar traders will be weighing the implications for markets following almost a …

European Central Bank President Christine Lagarde said the first increase in interest rates in more than a decade may come in July, but meanwhile she downplayed the idea of a half-point move amongst accelerating concerns about economic expansion. Lagarde joins a number of ECB policymakers calling for a July hike …

Federal Reserve chairman Jerome Powell doubled down on his agency’s commitment to fighting inflation, but warned Americans of further rough pains ahead. The US central bank declared war against inflation. Monetary policy tightening is still the major trend in the light of statements by the Fed officials and policymakers. Accelerating …

The negative market mood increased appetite for safe-haven peers in the forex space, particularly the USD, while the JPY is the weakest on the week’s last trading day. US equities plunged between 1.51% and 2.49%, reaching fresh 52-week lows. That despite investors’ cheered rate cut of 0.15% by the Bank …

US energy drillers this week added oil and natural gas rigs for a ninth consecutive week according to data released on Friday, as mostly small producers respond to high prices and prodding by the government to ramp up output.Since Moscow invaded Ukraine on Feb. 24, the US government has urged …

The US Dollar Index reclaimed the 103.000 mark but ended the week with losses of 1.38%, meanwhile, the Canadian dollar gained 0.47% versus the USD in the week, which was soft throughout the whole week. The USD/CAD pair has been seesawing during the North American session and is recording minimal …