Tag Archives: G7

The Bank of England (BoE) is unlikely to raise interest rates due to the UK’s unexpected drop in inflation in June. The BoE raised rates 13 times since December 2021 to counter soaring price rises, which have driven up borrowing costs for millions. However, the UK’s inflation rate remains almost …

Oil price opens the new trading week lower on concerns linked to the outlook of global trade will likely be be impacted by geopolitical wrangling at G7 summit.  China provokes the United States by banning US-manufactured micro chips. Oil recovers after US Dollar weakens on continued debt-ceiling uncertainty as talks …

The G7 Communique has reaffirmed the financial system’s resilience and reiterated the commitment to preserving financial and economic stability.Additionally, the statement notes that central banks are still steadfastly dedicated to achieving price stability.The Consumer Price Index (CPI), which climbed in March at a slower-than-expected rate and a minute from the …

The dollar fell from the highest level in two and a half months against the yen on Friday and headed towards recording its first weekly loss since January against other major currencies as dealers try to determine the course of the Federal Reserve’s monetary policy. The yen, particularly sensitive to …

Risky assets retreated following Friday’s inflation report, with bitcoin losing about $762.36 to trade below $23,190.00, within a few dollars of its lowest level of this week. Nasdaq 100 futures were down 1.9%, and S&P 500 futures are lower by 1.4%. The January PCE Price Index unexpectedly rose to 5.4% …

Kremlin spokesman Dmitry Peskov said that his country did not consult OPEC + regarding its response to the Western price ceiling imposed on Russian oil, noting that Russia has the sovereign right to take whatever it deems appropriate to respond to such “illegal measures.” On Tuesday, Russian President Vladimir Putin …

Oil hit a three-week high on Tuesday after the latest easing of COVID-19 restrictions in China spurred hopes of a recovery in fuel demand and additional support from a cut in energy production in the United States due to winter storms. The National Health Commission said on Monday that China …

Russian Deputy Prime Minister Alexander Novak told the official Tass news agency that Moscow is ready to resume gas supplies to Europe through the Yamal-Europe pipeline. “The European market is still important with the continued gas shortage, and we have every opportunity to resume supplies,” TASS quoted Novak as saying …

On Friday, crude oil prices settled about $3 per barrel higher for a second straight week of gains following Moscow said it could reduce crude output in response to the G7 price cap on Russia’s energy exports.Brent crude settled at $83.92, up by $2.94 or 3.6%, while U.S. West Texas …

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 …