The economy ministry in Russia has issued revisions to forecasts for 2022 – 25: sees 2022 GDP contraction at 4.2% vs 7.8% previous mid-May forecast sees 2023 GDP down 2.7% vs 0.7% in previous set of forecasts sees dollar/rouble average rate at 68.1 in 2022, 69.2 in 2023 Reuters pass along the info, citing documents
News
When Russia invaded Ukraine in the spring, energy experts were predicting that oil prices could reach $200 a barrel, a price that would send the costs of shipping and transportation into the stratosphere and bring the global economy to its knees. Now oil prices are lower than they were when the war began, having dropped
While Dollar remains generally firm, Yen is reversing much of this week’s gain. The moves come as European benchmark yields are trading generally higher. Major European stock indexes are also in slight positive position. Canadian Dollar is rebounding, responding more to rising core inflation reading. European majors and other commodity currencies are mixed for now.
Prior -45.8 Economic sentiment -55.3 Prior -53.8 That’s another dismal reading as ZEW notes that they expect a further decline in the already weak economic growth in Germany. Adding that high inflation rates and expected additional costs from higher energy prices are to decrease profit expectations for the private consumption sector. ADVERTISEMENT – CONTINUE READING
NEW DELHI: Gold prices dropped sharply in the domestic markets on Tuesday as the prices adjusted in line with the global markets after opening for trade following a long weekend. A dip in the US bond yield capped the losses, although a stronger dollar and concerns over further rate hikes by the Federal Reserve kept
Yen and Dollar are so far stronger for the week, with recession as a main theme in the markets. Yet, their upside is relatively limited, as US stocks managed to extend near term rally overnight. Commodity currencies are generally on the softer side, but Aussie, Kiwi and Loonie are all staying inside last week’s ranges.
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
London: Oil prices fell by more than $3 a barrel on Monday on concerns over demand in China, the world’s largest crude importer, and ahead of Iran’s response to a nuclear deal proposal which could raise the country’s oil exports. Brent crude futures fell $3.49, or 3.56%, to $94.66 a barrel by 0945 GMT after
Negative sentiment started earlier in the day following weak economic data from China, and spread particular serious to some commodities like oil and copper. Aussie is currently leading New Zealand and Canadian Dollar down. Yen is trading generally higher, taking Dollar and Swiss Franc up. Meanwhile, Euro and Sterling continue to trade mixed. Technically, the
The dollar is holding firmer on the day as risk tones are looking more subdued as highlighted earlier here. That is seeing the antipodeans whacked pretty badly but the loonie is the next in the firing line with USD/CAD up 0.6% to near 1.2850 currently. The pair continues its jump after buyers have defended the
Gold in the national capital on Thursday declined Rs 347 to Rs 52,709 per 10 grams amid decline in international yellow metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 53,056 per 10 grams. Silver also fell sharply by Rs 455 to Rs 59,103 per kg from
Commodity currencies soften mildly in Asian session today, following weaker than expected economic data from China. On the other hand, Yen is leading Dollar and Swiss Franc higher. Euro and Sterling are mixed for now. Overall sentiment is mixed, with notable gains in Nikkei but other Asian indexes are sluggish. Gold is still struggling to
Saudi Aramco announced Q2 results on Sunday. Huge revenues, huge profits is the TL;DR summary. As part of the announcement were comments pertinent to their outlook: will reduce debt and invest in a vast expansion of its production capacity “expects oil demand to continue to grow for the rest of the decade, despite downward economic
Gold witnessed mixed trade and hovered in a range near $1800/oz level but still managed to end higher for the week. Gold gained 1.5% last week marking its fourth consecutive gain. Gold’s four weekly rally shows bullish sentiment however it has come on the back of five weeks of consecutive losses. The sharp and mixed
The major US indices are closing higher for the 4th consecutive week today, the gains were led by the NASDAQ index which rose over 2%. All 11 sectors of the S&P index rose. A look at the final numbers shows: Dow industrial average rose 424.3 points or 1.27% to 33761.04 S&P rose 72.86 points or
Oil prices rose by over 1% on Thursday after the International Energy Agency raised its oil demand growth forecast for this year as soaring natural gas prices lead some consumers to switch to oil. Brent crude futures gained $1.29, or 1.3%, to $98.69 a barrel by 1348 GMT, while U.S. West Texas Intermediate crude futures
The USD moved higher in trading today as focus shifted from the lower inflation seen this week in the US to the troubles in other nations. German’s Rhine River, moved below a critical navigational level which could impact energy (coal travels the river), hydro power, trade, slow growth and increase inflation. That is not good
Oil prices dipped in early trade on Friday amid uncertainty on the demand outlook based on contrasting views from OPEC and the International Energy Agency (IEA), but benchmark contracts were headed for weekly gains as recession fears eased. Brent crude futures fell 34 cents, or 0.3%, to $99.26 a barrel at 0112 GMT, while U.S.