The US central bank is expected to skip an interest rate hike at the end of its two-day meeting later this week, but consumers may not feel any relief. The central bank has already raised interest rates 11 times since last year, the fastest pace of tightening since the early …
Read More »What do Saudi Energy Minister’s statements mean for oil price outlook?
While speaking before the World Petroleum Congress in Canada, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman noted that Saudi Arabia is targeting less volatility in energy markets rather than targeting prices. Crude oil prices continue to edge higher following these statements and the barrel of West Texas Intermediate was …
Read More »Canada CPI could indicate another jump in inflation
Statistics Canada is set to release its August Consumer Price Index (CPI) data on September 19, with economists and researchers of five major banks forecasting the data. Headline inflation is expected to be at 3.8% year-on-year, the highest since April and further above the 2% target. On a monthly basis, …
Read More »Russia and China will build an oil shipping complex worth $686 million
The Russian Congress Fund said on Monday that Russia’s United Oil and Gas Chemical Company and China’s Shanyuan Industrial Development Company have agreed to pump joint investments worth five billion yuan ($686 million) to build an oil shipping complex in Russia’s far east. The complex will facilitate the export of …
Read More »European stocks decline with anticipation of the results of central bank meetings
European stocks opened slightly lower on Monday after sharp gains last week, as investors awaited a week full of central bank meetings in Norway, Sweden, Switzerland, Britain and the United States to make decisions on interest rates. The European STOXX 600 index fell 0.2 percent by 0705 GMT due to …
Read More »Japanese yen steals the spotlight in a week full of central bank meetings
The dollar moved slightly in Asian trading on Monday, amid a rise in the pound sterling and a decline in the yen after a Japanese holiday and anticipation of a group of upcoming central bank meetings led to a state of stagnation in the markets. The Bank of Japan’s monetary …
Read More »Oil rises due to supply concerns and demand recovery in China
Oil prices rose on Monday, supported by expectations of a widening supply deficit in the fourth quarter of the year after Saudi Arabia and Russia extended production cuts, in addition to optimism about the recovery of demand in China, the largest global importer of crude. By 0027 GMT, Brent crude …
Read More »Gold stabilizes before a possible halt to US interest rate hikes
Gold prices stabilized on Monday as investors continued to take into account the Federal Reserve’s possible halt to raising interest rates at its monetary policy meeting this week, with a focus on the US central bank’s interest expectations. By 0056 GMT, gold prices in spot transactions settled at $1,924.29 per …
Read More »Financial Markets’ Weekly Recap
US stocks ended trading on Friday with a sharp decline, with chip makers falling on concerns about weak demand, while rising Treasury yields pressured shares of Amazon and other growth companies with huge market value. Shares of chip equipment maker Applied Materials, Lam Research and KLA Corp fell after Reuters …
Read More »Tech share leading Wall Street’s dip
US stocks sank Friday as the major indexes failed early on to build on a Thursday rally and were in danger of giving up the week’s gains.The S&P 500 was down 0.9%, while the Dow Jones Industrial Average retreated by 0.5%. The tech-heavy Nasdaq Composite plunged 1.4%, leading the way …
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