In order to assist consumers cope with the rise of food prices, French Finance Minister Bruno Le Maire announced on Monday that he had achieved an agreement with the major grocery chains in the nation. Le Maire said at a press conference following his meeting with retail executives that food …
Read More »Companies are profiting from inflation, forcing the ECB to face a harsh truth
Policymakers from the European Central Bank confronted some harrowing realities this week while huddling in a retreat in a remote Arctic village: businesses are benefitting from rising inflation while workers and consumers bear the cost. The dominant macroeconomic narrative over the last nine months has been that the 20 nations …
Read More »Market Drivers – US Session 26/02/2023
The US dollar began the new trading week extending positive performance although demand for the US currency diminished ahead of the US session’s opening, following a mixed United States Durable Goods Orders report. Later on the day, the dollar Index fell 0.52% to 104.725, reversing gains from last Friday driven …
Read More »UK, EU leaders praise ‘extraordinary’ deal on NI Protocol
In a joint press conference with European Commission President Ursula von der Leyen on Monday, British Prime Minister Rishi Sunak that they have amended the original Northern Ireland Protocol deal and agreed a new “Windsor framework.” The GBP/USD edged slightly lower from daily highs with the initial reaction to this …
Read More »How Can Traders Interpret Remarks By ECB’s Fabio Panetta?
Several calls, such as the one made by ECB board member Fabio Panetta to convert to smaller rate increases, have been made as a result of the lower-than-expected energy costs in Europe this winter.The ECB’s board member appointed by Italy, Panetta, urged caution, claiming that the economy had not yet …
Read More »Rise in oil prices amid optimism about recovery of demand in China
Oil prices regained ground on Monday, after falling more than $2 a barrel in the previous session, amid optimism that China would lift COVID-19 restrictions and recover oil demand, which outweighed fears of a global recession. Brent crude futures rose 72 cents, or 0.9 percent, to $79.76 a barrel by …
Read More »Oil is rising in spite of the economic concerns
Oil prices rose in early Asian trade on Friday, after falling by 2 percent in the previous session, in the wake of central banks raising interest rates, and are heading towards ending the week’s transactions higher after a series of positive expectations for oil demand. By 0109 GMT, Brent crude …
Read More »Oil is stable amid rising inventories and expectations of a recovery in demand in 2023
Oil prices were largely stable on Wednesday, amid bleak signs from data on a surprise build in US crude stockpiles and forecasts by OPEC and the International Energy Agency for oil demand to recover over the next year. Brent crude futures fell 17 cents, or 0.2 percent, to $80.51 a …
Read More »Oil prices rise amid supply disruptions and optimism about China
Oil extended its gains on Tuesday, with supply disruptions and easing anti-Corona restrictions in China, the world’s largest crude importer. Brent crude futures rose 90 cents, or 1.15 percent, to $78.89 a barrel by 1020 GMT, while US West Texas Intermediate crude futures rose 67 cents, or 0.92 percent, to …
Read More »Oil prices rise due to uncertainty over restarting the Keystone pipeline and Russian supplies
Oil prices rose more than 1 percent in early Asian trading on Monday, as a major pipeline transporting crude oil between Canada and the United States remained closed as Russian President Vladimir Putin threatened to cut production in response to the West imposing a cap on Russian oil export prices. …
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