The German Foriegn Minister on Monday said that EU Foreign Ministers had agreed that weapon deliveries to Ukraine would be intensified and noted that Ukrainians can only be defended with weapons. The German Foreign Minister added that it is important that the EU doesn’t disappoint the ambition of Western Balkan …
Read More »US CPI Preview: Forecasts from 12 major banks, another lurch forward
The US Bureau of Labor Statistics will release the March Consumer Price Index (CPI) data on Tuesday, April 8 at 12:30 GMT and as we get closer to the release time, here are the forecasts by the economists and researchers of 12 major banks regarding the upcoming US inflation print. …
Read More »USD/CAD Holding Intraday Gains
A combination of supporting factors assisted USD/CAD to regain positive traction on Monday. Sliding crude oil prices undermined the loonie and extended support amid modest USD strength. The technical set-up favours bullish traders and supports prospects for additional near-term gains.The USD/CAD pair held on to its strong intraday gains through …
Read More »US Equities Expect More Bearish Tone Again
S&P 500 remains under pressure with daily MACD momentum threatening to turn lower. Key remains a cluster of supports including the 63-day average and 38.2% retracement of the February/March rally at 4455/38, below which can see a more bearish tone emerge again, economists at Credit Suisse report.Break above 4520/25 needed …
Read More »Turkey to raise level of forex revenues exporters must sell to CBRT to 50%
Turkey is reportedly considering raising the level of forex revenues that exporters must sell to the CBRT to as high as 50% from the current level of 25%, reported Reuters citing sources.Turkey’s current account balance registered a $5.15 billion deficit in February, widening $2.71 billion year-over-year, according to official data …
Read More »Oil below $100 due to withdrawals and fears of a closure in China
Oil prices fell by four dollars a barrel on Monday, falling below $100 a barrel, after countries announced plans to withdraw record amounts of crude and oil products from their strategic stocks and with continued shutdowns in China. Brent crude fell $3.93, or 3.8 percent, to $98.58 a barrel by …
Read More »Palladium jumps 5% on supply concerns, inflation risks lift gold prices
On Monday, palladium prices jumped 5 percent to their highest level in more than two weeks, driven by supply concerns after trading of the metal was suspended from Russia, while gold prices increased due to inflation tension caused by the war in Ukraine. Palladium rose 4.5 percent to $ 2534.40 …
Read More »The Russian oil embargo may be part of the next EU sanctions package
The Russian oil embargo may be part of the The European Commission, the European Union’s executive arm, is preparing proposals for an EU embargo on Russian oil, the foreign ministers of Ireland, Lithuania and the Netherlands said on Monday, although there is no agreement yet. Referring to the commission, Irish …
Read More »Ukraine can export 600,000 tons of grain and oilseeds per month
With the Black Sea ports closed, Ukraine can export 600,000 tons of grain and oilseeds per month, but may increase its export capacity to 2 million tons, the Ukrainian Grain Traders Union (UGA) said on Monday. Ukraine used to export almost all of its grains and oilseeds through seaports but …
Read More »The Euro Begins to Recover
The euro appeared to be on its way on Monday to end a seven-day losing streak against the dollar, as the European single currency rallied after French President Emmanuel Macron defeated far-right rival Marine Le Pen in the first round of the presidential election. Investors’ concern about the future trends …
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