Japan’s Nikkei index posted its biggest gain in 21 months, following in the footsteps of global equities as market sentiment recovered, as it looked like Ukraine and Russia would resume diplomatic talks and as oil prices reversed some of their recent gains. Nikkei rose by 3.94% to close at 25690.40 …
Read More »Oil Rises After The UAE Says it is Committed to The OPEC+ Agreement to Increase Supplies
Oil prices recovered on Thursday after the United Arab Emirates said it was committed to the OPEC+ agreement to increase monthly supplies by 400,000 barrels per day, hours after its ambassador in Washington said his country favored a larger increase. US West Texas Intermediate crude contracts jumped more than three …
Read More »Market Drivers – US Session – 9 March
The American Dollar and commodity prices were sharply down on Wednesday amid hopes for a solution to the Ukraine-Russia crisis. Economic DataUS oil stockpiles fell across the board last week, the Energy Information Administration said on Wednesday. Crude inventories fell by 1.9 million barrels in the week to March 4 …
Read More »Bitcoin Climbs Above $42,000 As $183 Trillion Liquidated
Bitcoin price posted 10% gains over the past day amidst short liquidations across exchanges. Short positions in Bitcoin were among the most liquidated, followed by Ethereum, within the past 24 hours. Analysts argue that the Bitcoin price has bounced from the bottom of ascending range bound activity, presenting a bullish …
Read More »US Dollar Hovers Around 98.00 ahead of Initial Jobless Claims, CPI Data
The DXY is oscillating around 98.00 ahead of US inflation and Initial Jobless Claims. The risk-on impulse has brought a sell-off in the dollar index. Investors brace an aggressive tightening policy by the Fed.The US dollar index (DXY) is hovering around 98.00 as investors await the US Consumer Price Index …
Read More »Russia’s Natural Gas Too Big To Sanction
Russia’s wealth of commodities seems too big to sanction. Russia’s vast energy exports have been subject to unprecedented sanctions imposed by the Western nations in response to the invasion of Ukraine. In 2020, Russia produced 638.5 billion cubic meters of natural gas, decreasing the volume by approximately 40.5 billion cubic …
Read More »White House Warns: Another High Reading In February Inflation Report
The White House is bracing for a new inflation report coming out Thursday that it expects will show continued high prices for Americans. The consumer price index, a key report indicating inflation in the US, will be released by the Bureau of Labour Statistics at 8:30 a.m. ET Thursday. Last …
Read More »US Energy Secretary: Working With US Oil, Gas Producers To Raise Supply
US Energy Secretary Jennifer Granholm, speaking at the CERAWeek energy conference in Houston on Wednesday, said that the Biden administration wants to work with US oil and gas producers to raise supply.The impacts of higher costs for fuel are real and severe, Granholm added, saying that “we have a responsibility …
Read More »Amid Speculations On ECB Decision, Euro Surges As Investors Embrace Risk
The euro gained more than 1.5% against the dollar on Wednesday as risk appetite returned to financial markets and energy as well as commodity prices eased from recent peaks that were driven by Russia’s invasion of Ukraine and the Western sanctions imposed in response. Market expectations about the potential for …
Read More »Pentagon: US Not Supporting Combat Aircraft Transfer To Ukraine
According to a spokesperson of the US Pentagon, the US does not currently support the transfer of additional combat aircraft to Ukraine at this time, reported Reuters. Rather, the US sees the need for other weapons to be sent to help Ukraine, the spokesperson added, noting that Ukraine currently has …
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