Market Update

Russia ranks number one, two and three, among the world’s exporters of natural gas, oil and coal, respectively. Europe gets most of its energy needs from Russia. Russia also accounts for half of US uranium imports. It supplies a tenth of the world’s aluminium and copper, and a fifth of …

Gold has reversed its direction after rallying toward new all-time highs. The precious metal is set to extend its downward correction on a hawkish US Federal Reserve.The Fed is widely expected to kick off its tightening cycle with a 25 basis points rate hike when the two-day FOMC policy meeting …

After a historically volatile week, WTI is more subdued on Friday, remaining capped under $110 but supported above $104. WTI is on course for a weekly drop of over $7.0, which would be its worst one-week performance since November.Global oil markets look set to end a historic week of energy-related …

In a public address at the White House, US President Joe Biden confirmed on Friday that US would revoke permanent normal trade relations (PNTR) with Russia.US allies would also announce new actions against Russia on Friday, Biden said. The US is also to ban the imports of Russian luxury goods, …

The Canadian economy added 336,600 jobs in February, well above the median economist forecast for 160,000 jobs to have been added on the month, a report released by Statistics Canada on Friday showed. That marked a substantial improvement compared to January, when slightly more than 200,000 jobs were lost as …

Commenting on the latest talks with Ukraine, “there are certain positive shifts, negotiators on our side tell me,” Russian President Vladimir Putin said in a meeting with his Belarusian counterpart Alexander Lukashenko on Friday, as reported by Reuters. Putin refrained from sharing any additional details on the matter.

Goldman Sachs analysts now clearly see the increased risk that the United States will enter a recession during the next year, due to the war between Russia and Ukraine. Goldman Sachs noted that the lowering of US GDP expectations, which reflects higher oil prices and other growth factors related to …

Data showed that the British economy recorded in January a recovery that far exceeded expectations from the decline caused by the Coronavirus in late 2021, which will increase the motivation of policymakers in the Bank of England to raise interest rates next week. The National Bureau of Statistics said gross …

European shares rose on Friday, recouping some of Thursday’s losses, which were close to 2%, after a sudden shift by the European Central Bank towards tightening monetary policy, as it said it would stop pumping money into financial markets this summer. The pan-European Stoxx 600 index rose 0.6 percent, after …

Gold fell on Friday, as US Treasury yields rose overnight on data pointing to a sharp rise in inflation, but prices are heading for their second consecutive weekly gain after no progress in talks between Russia and Ukraine. Gold fell in spot transactions 0.6 percent to $ 1984.91 an ounce. …