Market Update

The economy of the world’s top energy exporter grew the most in more than a decade in 2021, rebounding from a pandemic-related recession the year before as oil prices jumped and consumer spending grew. Russian gross domestic product rose 4.7% last year, the fastest since 2008, according to the Federal …

NY Fed President, influential FOMC member John Williams said on Friday that inflation is way too high right now, but there are some reasons for optimism that it will come down, according to Reuters. Additional Quotes:“Businesses that rely on people commuting to work in the office are seeing a slower …

According to the flash estimate of the European Commission’s Eurozone Consumer Confidence survey, the headline index fell to -8.8 in February versus forecasts for a slight rise to -8.0 from -8.5 the month prior of January. The euro did not see any reaction to the slightly weaker than expected Eurozone …

US Existing Home sales rose sharply according to data published by the National Association of Realtors on Friday. That took the 12-month rolling number of sales higher to 6.50M from 6.09M in December, above the expected 6.10M. The median price of homes sold was $350.3K, up 15.4% YoY. Home sales …

The USD/JPY is losing 0.23% amid a mixed-market mood in the week. The DXY approaches the 96.00 figure despite increasing tensions in Ukraine. Fed’s Bullard and Mester favor hiking rates at a faster pace.The USD/JPY pair reversed the curse as the weekend approached amid a mixed market sentiment, driven by …

The safe-haven Japanese yen weakened on Friday, and risk-sensitive currencies such as the Australian dollar rose as investors took comfort from a plan for talks between the United States and Russia on the crisis in Ukraine. The Euro rose as the dollar weakened. The yen and the Swiss franc, a …

The dollar fell on Wednesday for the second day in a row as investors eased concern about the possibility of Russia’s invasion of Ukraine and awaited the minutes of the Federal Reserve (US Central Bank) meeting for January. Movements were small in the currency markets, and the dollar index was …

Oil prices extended losses on Friday and headed for a weekly decline as the prospect of an increase in Iranian oil exports outweighed fears of possible supply disruptions from the Russia-Ukraine crisis. Brent crude futures fell $2.44, or 2.6 percent, to $90.53 a barrel, after ending trading on Thursday, down …

European shares rose on Friday, boosted by solid earnings results for companies and the prospect of de-escalation of tension between Washington and Moscow over the Ukraine crisis. The pan-European Stoxx 600 index rose 0.2 percent, as gains in auto and mining stocks outpaced losses in the technology sector. Renault shares …

The Nikkei extended its losses on Friday after investors took some reassurance from the news that US Secretary of State Anthony Blinken and his Russian counterpart Sergei Lavrov will meet next week, indicating that a Russian invasion of Ukraine is not imminent. The Nikkei ended Friday down 0.41 percent to …