Market Update

Russia acknowledged that, following the imposition of sanctions by the West in 2022, its economy was in danger of collapsing. The sanctions, which included removing some of Russia’s banks from the SWIFT network, capping the price of Russian oil at $60, and cutting off the country’s access to approximately $300 …

The GBP/USD pair has surged by over 0.35% during the mid-North American trading session, reaching a peak at 1.2517 before stabilizing at 1.2495.Market odds suggest a less than 10% chance of a rate hike by June 2024, with speculation suggesting the Bank of England may have ended its monetary policy …

The USD/JPY pair is approaching a seven-week low, with the Yen gaining over one percent against the dollar. The pair has seen three consecutive days of declining as markets bid the Yen and the US dollar faces selling pressure. On Monday, the pair is aiming below 148.00, trading at 148.32. …

Concerns regarding Germany’s recovery, which is anticipated to be challenging, are growing. Due to a combination of rising interest rates, weak global orders, and high energy costs, Germany’s economy has been among the weakest in Europe this year.Given a combination of rising interest rates, weak global orders, and high energy …

Treasury Secretary Janet Yellen stated on Monday that the US is making “considerable progress” in reducing inflation, which is particularly noteworthy given the strength of the labour market.The government’s consumer price index measures annual inflation, which fell to 3.2% in October from a peak of over 9% in 2022 as …

The head of the Japan Petroleum Industry Association said on Monday that he expects OPEC+ to extend supply cuts beyond December to support oil prices. Three OPEC+ sources told Reuters that the alliance is scheduled to study whether to impose additional oil cuts when it meets on November 26, after …

European stocks stabilized on Monday after a strong weekly performance that was driven by increased bets on lowering interest rates, while a decline in the health care sector erased gains in energy sector stocks. There was no significant change in the European STOXX 600 index by 0810 GMT, after it …

Japan’s Nikkei index rose to its highest level in more than three decades on Monday before changing course and closing lower as investors remained wary of the index’s recent significant gains. The Nikkei fell 0.59 percent to 33,388.03 points at the close, after earlier rising to its highest level since …

Oil futures rose on Monday, continuing their gains based on expectations that the OPEC+ group will reduce supplies further to support prices that have been declining for four weeks due to waning fears of disruption to Middle East supplies due to the war between Israel and the Palestinian Hamas movement. …

The US dollar has experienced its worst week since July 2023, with negative momentum dominating the market. Next week will be shorter in the US due to Thanksgiving. US – China Talks US President Joe Biden and Chinese counterpart Xi Jinping had a positive conversation about climate change and improving …