Tag Archives: China

The US Dollar benefited from the hawkish FOMC Minutes, accelerating its move by the end of the US trading session. The document showed that a few participants favored a 50 basis point (bps) rate hike, while some believed there was an elevated risk of a recession in 2023.Key DevelopmentsAll FOMC …

Oil extended its losses on Wednesday on expectations that the Federal Reserve will signal that it will continue to raise interest rates in comments it will issue on Wednesday, raising concerns about slowing economic growth as well as demand for crude. Brent crude futures for April delivery were down 23 …

Brent crude oil retreated about than 1% in a volatile session on Tuesday as persistent concerns about global economic growth outweighed supply curbs and prompted investors to take profits on the previous day’s gains.The focus in the wider financial market is firmly on the release on Wednesday of the minutes …

Benchmark Brent crude opened trading on Tuesday slightly lower in light of the dollar’s rise and traders awaited signals from the minutes of the latest Federal Reserve meeting on interest rates, after optimism about demand amid tight supplies led to a rise in prices on Monday. Brent crude fell 59 …

The week has got an obviously quiet beginning as the United States observes the President’s Day holiday. Economic Data The absence of macroeconomic releases helped majors to trade within tight intraday ranges. Liquidity is thin and the market sentiment is sour. Key Developments North Korea fired an intercontinental ballistic missile …

Oil prices surged over 1% on Monday, buoyed by optimism over Chinese demand, continued production curbs by major producers and Russia’s plans to rein in supply.Brent crude settled up $1.07, or 0.95%, at $83.56 a barrel. WTI for March, which expires on Tuesday, last rose 86 cents, or 1.12%, at …

China kept its benchmark lending rates unchanged for the sixth consecutive month in February, in line with expectations, as the world’s second-largest economy showed more signs of lasting recovery from the recession caused by the COVID-19 pandemic. A batch of better-than-expected data recently points to a recovery in economic activity …

China’s Lenovo Group reported a 24 percent decline in revenue in the third quarter, the largest in 14 years, as global demand for electronics shrank and the company said it would cut spending and reshuffle the workforce. The company, the world’s largest maker of personal computers, reported on Friday that …

China said today that US high altitude balloons flew over its Xinjiang and Tibet regions, and it will take measures against US entities that undermine Chinese sovereignty as a diplomatic dispute festered. China said earlier this week that US balloons had flown over its airspace without permission more than 10 …

The White House’s unsuccessful attempt to cancel the fiscal year 2023 sale of 26 million barrels of crude kept in US strategic petroleum stocks has provided an unexpected downside for oil price this week, with the ICE Brent-WTI spread widening further to $6.5 per barrel. On the other side, OPEC’s …