A majority of Americans believe President Biden has not been “tough enough” on Russia over its invasion of Ukraine but are concerned about the US being drawn into an all-out war with Russia, according to a poll published on Monday by the Associated Press-NORC Center for Public Affairs Research.Why it …
Read More »Ruble’s Rebound Engineered By Russia’s Central Bank
The recipe behind the Russian ruble’s rebound was based upon limiting selling and forcing buying. This is exactly how Russia has manufactured demand for its beleaguered currency. The consequences of harsh economic sanctions against Russia are felt all over the globe. Hence, lies the importance exploring what happened so far …
Read More »GBP/USD Drops On Mixed Sentiment, Firmer Dollar
The sterling begins the trading week down by 100-pips amid broad US dollar strength in the financial markets, courtesy of higher yields as market players expect a 50 bps increase to the Federal Funds Rate (FFR) by the US central bank. The market sentiment is mixed as European shares rise, …
Read More »OPEC+ to stick to May oil output increase plan
The U.S., Europe and Japan have called on oil-producing nations to do more to tackle record-high prices amid the war in Ukraine and ongoing supply shortages. On Monday, OPEC+ group was reportedly expected to stick to the May oil output plan increase plan at the March 31 meeting as several …
Read More »US: International trade deficit narrows in February
The international trade deficit of the US declined by $1 billion in February to $106.6 billion from $107.6 billion in January, the US Census Bureau reported on Monday. “Exports of goods for February were $157.2 billion, $1.9 billion more than January exports,” the press release further read. “Imports of goods …
Read More »Market Overview: Yen at 6-year low as Bank of Japan moves to contain bond yield surge
The Japanese yen fell on Monday to its lowest level in six years against the dollar and is on track to record its largest daily loss since March 2020, after the Bank of Japan moved to contain rising bond yields even as US Treasury yields rose to new highs not …
Read More »Bank stocks support European stock markets
European stock markets indices rose on Monday, boosted by banks and insurance companies, which are strongly affected by interest rate movements, as government bond yields continued to rise, while the atmosphere also improved with hopes of a peace agreement to end the Ukraine crisis. The pan-European Stoxx 600 index rose …
Read More »The rise in US oil exports leads to the withdrawal of crude from a storage center
Baker Hughes on Friday reported that the number of active US rigs drilling for oil was up by seven to 531 this week. Traders said US oil exports have jumped in the wake of Russia’s invasion of Ukraine and that domestic oil that used to go to a storage hub …
Read More »Russian Foreign Minister: Relations between Russia and China are at their strongest ever
Russian Foreign Minister Sergei Lavrov said that Russia and China relations are at their strongest ever, as Western countries seek to isolate Moscow with unprecedented sanctions over the Ukraine crisis. Beijing has repeatedly expressed its opposition to the sanctions, insisting it will maintain normal economic and trade relations with Russia, …
Read More »UAE Energy Minister: We will work with OPEC + to ensure market stability
The UAE Energy Minister, Suhail Al Mazrouei, said today, Monday, that the UAE will work with OPEC + to ensure the stability of the energy market, according to what was reported by Reuters. He added in an energy forum that the UAE is trying its best and raising its production …
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