Japanese shares fell to their lowest level in nearly two weeks on Friday as the fighting in Ukraine escalated, but the Nikkei index avoided its lowest close in 15 months as the market settled in the midday session. The Nikkei ended the session down 2.23 percent to close at 25,985.47 …
Read More »Oil Retreats From Decade High as Iran Talks Revive Hopes of Oversupply
Oil fell 2 percent on Thursday, after hitting prices not seen in nearly a decade, amid selling on hopes that the United States and Iran will soon reach a nuclear deal that could contribute to increasing supply, which is currently suffering from tightness. Trading was volatile, with crude oil prices …
Read More »Europe Can Reduce Gas Imports From Russia by More Than a Third in a Year
The International Energy Agency said on Thursday that Europe could reduce the import of Russian gas by more than a third within a year, and the agency announced a 10-point plan to reduce the European Union’s dependence on Russian gas. “Nobody is under any illusions anymore. Russia’s use of its …
Read More »Market Drivers – US Session – 3 March
Risk aversion has been leading most assets amid the war fogs and indecisive peace talks in Eastern Europe. Economic DataEarlier on Thursday, the headline ISM Services PMI reading slid to 56.5 in February from 59.9 in January, below the expected rise to 61.0, according to the latest release by the …
Read More »Williams Expects Inflation Retreat, But Stay Above Fed’S 2% Goal
New York Federal Reserve John Williams says that the central bank has to be data-dependent and transparent about its thinking.Williams says officials have to be open to changing course when the data suggests that’s what is needed.Key QuotesSupply chain issues and labour shortages have lasted much longer than expectedThere is …
Read More »Ukraine: Over $54 Million Donations In Bitcoin
Donations in cryptocurrencies such as bitcoin and ethereum are pouring into Ukraine as the war with Russia enters its second week. Since Russian troops invaded Ukraine on 24 February, more than 102,000 cryptoasset donations, totaling $54.7 million, have gone to the Ukrainian government and Come Back Alive Campaign.Donations have also …
Read More »US Commerce Secretary reviews how tariff exclusions could ease inflation
US Commerce Secretary Gina Raimondo said on Thursday the Biden administration was examining whether providing exclusions from tariffs inherited from the previous administration was a way to ease inflation.“The president has asked me, has asked members of his cabinet, to look at every possible tool in our toolbox to deal …
Read More »WTI Retreats On Back Of Iranian Supply Prospects
US oil price is off by some 3% as WTI crude fell off decade highs on Thursday following reports that a deal to allow the return of Iranian supplies to the global market is near.Traders are looking for supplements that can replace Russian exports that have been cut by sanctions …
Read More »Oil Slides as US Hints Significant Progress in Iran Nuclear Talks
US State Department said on Thursday that there has been significant progress in nuclear talks with Iran and we are close to a possible deal.However, a number of difficult issues remain unresolved and we will not have a deal unless we can resolve the remaining issues quickly. Oil slid 2% …
Read More »US Shares Pare Down Intra-day Losses
US equities maintained mixed performance on Thursday and defined more by rotation from growth into value than risk-on or risk-off. The S&P 500 recovered most of an intra-day drop of nearly 1.0%, but remains capped under 4400. US equity market trade has been more defined by rotation from high multiple …
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