Annual inflation in Germany, as measured by the Consumer Price Index (CPI), rose to 7.9% in August from 7.5% in July, Germany’s Destatis reported on Tuesday. This reading came in slightly higher than the market expectation of 7.8%. The Harmonised Index of Consumer Prices (HICP), the European Central Bank’s (ECB) preferred …
Read More »Reuters: Iraq’s oil exports have not been affected by political turmoil
Three sources told Reuters on Tuesday that Iraq’s oil exports have not been affected by the current political turmoil. Baghdad is witnessing the worst fighting in years, with clashes between rival Shi’ite groups entering their second day. Two sources confirmed that supporters of Shiite cleric Muqtada al-Sadr, a former leader …
Read More »Oil prices plunge against the backdrop of concerns related to inflation
Oil prices fell on Tuesday on fears that the weakness of global economies caused by inflation will reduce demand for fuel, while Iraqi exports will not be affected by the ongoing clashes there. Brent crude futures for October delivery fell $2.45, or 2.33 percent, to $102.64 a barrel by 1022 …
Read More »Banks push European shares higher as interest rates and recession fears grow
European shares rallied on Tuesday following a two-day sell-off with the banking sector supporting equities. However, concerns over a mounting energy crisis, interest rate hikes and an impending recession capped gains. The pan-European Stoxx 600 index rose 0.4 percent, after declining about 2.5 percent in the previous two sessions, on …
Read More »Gold falls due to the rise of the dollar and concerns about raising interest rates
Gold prices fell on Tuesday, pressured by the dollar’s rise. At the same time, the possibility of higher US interest rates for a longer period also affected the non-yielding allure of the precious metal. And gold fell in immediate transactions 0.3 percent to $ 1732.10 an ounce (an ounce) by …
Read More »Nikkei rebounds after hitting a two-week low as technology shares rise
The Japanese Nikkei index ended trading on Tuesday, up more than one percent, led by major technology companies, as the benchmark index rebounded after reaching its lowest level in two weeks in the previous session. The Nikkei rose 1.14 percent to close at 28,195.58 points, while the broader Topix index …
Read More »Market Drivers – US Session – Monday, August 29
WTI crude oil is settling at $97.01; highest since July 29. Continuing clashes in the Libyan capital, Tripoli, are threatening oil supply, moreover, the OPEC+ meeting is also a concern as Saudi Arabia has threatened production cuts. Earlier on Monday, WTI oil moved above the $96 level as traders focused …
Read More »Bitcoin Whales Increase By 103 Within 30 Days
Bitcoin took the journey, on Monday from the opening price at $19571.30 to $20199.30 at the time of writing. It last traded at this level in July when the bulls took over the market and initiated an uptrend.Since a big stone was thrown into the market waters by Jerome Powell’s …
Read More »Housing bubble could threaten China’s economy
Hundreds of thousands of Chinese people sent angry messages to several banks and local governments that have reverberated in Beijing’s halls of power. Most messages read: “If you stop construction, I will stop paying my mortgage”. Similar threats have been made across 328 property development projects in nearly 100 Chinese …
Read More »Gold Back Under Pressure In New York Session
Gold price is bending below the European highs of $1,745.55. The precious metal is now losing 0.10% at the time of writing while the US dollar firms again, basing itself on a key measure versus a basket of rival currencies. Gold trades heavy in a bearish territory with potential demand …
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