Market Update

The German ZEW headline numbers for March showed that the Economic Sentiment Index deteriorated sharply amid the Russia-Ukraine war, coming in at -39.3 from 54.3 previous while missing estimates of 10.0 by a wide margin. The Eurozone ZEW Economic Sentiment Index tumbled to -38.7 the current month as compared to …

Oil prices extended losses on Tuesday to a two-week low after ceasefire talks between Russia and Ukraine eased fears of another oil supply disruption, while coronavirus infections in China raised concerns about slowing demand for crude. Brent crude futures were down $5.95, or 5.6 percent, at $100.95 a barrel by …

The world’s largest cryptocurrency exchange Binance has been given a crypto-asset service provider licence by Bahrain’s central bank, its first such licence in the Gulf Cooperation Council (GCC), the company and the bank said on Tuesday. “The licence from Bahrain is a milestone in our journey to being fully licensed …

Japan’s Nikkei index closed higher on Tuesday, boosted by strong economic data from neighboring China and its main trading partner, but capped cautious gains ahead of the expected US interest rate hike, the first in three years, due later this month. The market’s performance ranged from small gains to losses …

Gold prices fell below $1,980 an ounce on Monday, as traders braced for an upcoming Federal Reserve interest rate hike that pushed 10-year US Treasury yields above 2%. The US central bank is widely expected to raise interest rates by 25 basis points at the end of its two-day meeting …

The number of people claiming jobless benefits fell by 48.1K in February when compared to -31.9K booked previously. The claimant count rate came in at 4.4% last month vs. 4.6% prior. The Office for National Statistics (ONS) showed on Tuesday, the UK’s official jobless rate arrived at 3.9% in January …

A US Treasury official said on Monday that Russia’s default on its sovereign debt would put Russia’s economy and financial system in further trouble, making it difficult for Moscow to find new lending sources and raising future borrowing costs. The official told Reuters that the Treasury believes that there is …

The World Bank on Monday announced it is making about $200 million in additional funding available to strengthen social services for people in need in Ukraine, on top of the $723 million it approved last week. The financing is part of a $3 billion support package that the World Bank …

The Japanese Ministry of Finance said Tuesday, March 15 that Japan has decided to freeze the assets of 17 new Russian individuals. The ministry added that the targets of the new sanctions include 11 deputies of the Russian State Duma and five members of the family of banker Yuri Kovalchuk, …

Once again, Dogecoin spike can be attributed to nobody other than Elon Musk. Just after midnight on Monday morning, in a Twitter thread about inflation, the Tesla CEO tweeted that he “Would Not” be selling his crypto holdings, which includes unknown quantities of Dogecoin, Bitcoin, and Ether. Minutes later, Dogecoin …