Markets & Industries
Brazil's central bank raises key rate by 50 basis points - 06/16/2022
"Copom unanimously decided to raise the benchmark interest rate by 0.50 ppt to 13.25% per annum. The committee understands that this decision reflects uncertainty about its scenarios and risk of even greater dispersion than usual for projected inflation," the communiqué reads. The organization's experts noted the negative revision of global growth prospects in the context of strong and persistent...
OPEC maintains forecast for global oil demand growth in 2022 - 06/15/2022
In a recently released study, OPEC maintained its prediction for global oil demand growth in 2022 at 3.4 million barrels per day. The research stated that "oil demand growth in 2022 will stay constant from the May prediction of 3.4 million barrels per day." As a result, OPEC forecasts global oil consumption to average 100.3 million barrels per day in 2022. "OECD global oil consumption climbed...
Ukraine: We will be able to export only half as much agricultural products as before - 06/15/2022
Ukraine will be able to export only 2.2-2.4 million tons of agricultural products in the near future, compared to 5-6 million tons before the crisis, according to Ukrainian Deputy Minister of Agricultural Policy, who spoke to members of the European Parliament's Agriculture Committee. "Over 20 million tons of grain were not sold on the international market. Our export capability has been severely...
Ethereum falls to its lowest in more than a year - 06/14/2022
The cryptocurrency Ethereum plummeted to its lowest point in almost a year during the weekend. Bitcoin has also dropped to its lowest since May. According to Bloomberg, the value of Ethereum, the world's second largest cryptocurrency, plummeted to its lowest level in more than a year - since March 2021 - during trading on June 12. Bitcoin, the most valuable cryptocurrency by market...
Bundesbank halves forecast for German GDP growth in 2022 - 06/13/2022
The Bundesbank has modified its year-ahead forecast: it has downgraded its German GDP forecast and now expects higher annual inflation. According to the current prediction, GDP will only expand by 1.9 percent in 2022, compared to the bank's previous forecast of 4.2 percent in December. The Bundesbank also cut its GDP growth prediction for 2023 from 3.2 percent to 2.4 percent. According to German...
ECB expects 6.8% inflation in euro area in 2022 - 06/10/2022
According to the European Central Bank's (ECB) website, the latest forecast predicts for annual inflation of 6.8% in 2022. The ECB stated that price growth will continue to be high for some time, describing the situation as a "severe challenge" and promising to ensure that it returns to its target of 2% in the medium run. According to preliminary estimates, price growth in the euro area reached...
Eurozone GDP grows by 5.4% in Q1 - 06/09/2022
According to Eurostat, the GDP of 19 euro-area nations expanded by 5.4 percent year on year and 0.6 percent in quarterly terms in the first quarter of 2022, according to the third, final estimate. Analysts surveyed by DailyFx predicted statistics to remain unchanged from the prior forecast: yearly growth of 5.1 percent and quarterly increase of 0.3 percent. According to the third estimate, the...
Indian Central Bank raises key rate for the second time in a row - 06/09/2022
The country's central bank, the Reserve Bank of India, upped its benchmark interest rate for the second time in a row, raising the rate by 50 basis points to 4.9 percent, according to its chairman Shaktikanta Das. In a statement, Das said: "The Monetary Policy Committee unanimously voted to hike the repo rate by 50 basis points to 4.90 percent." The decision to raise the rate was made "due to...
Morgan Stanley expects global stock market revolution - 06/07/2022
According to Ted Pick, co-president of investment firm Morgan Stanley, the global stock market is undergoing dramatic developments that could be a "paradigm shift." The current position of the stock markets in a number of nations, according to the bank's top manager, is considerably different from the typical situation seen over the previous 15 years, which has been defined by low interest rates...
Eni and Repsol get a greenlight to supply Venezuelan oil to Europe - 06/06/2022
Venezuela can compensate for the loss of Russian oil supplies to the European market by supplying oil to Italian Eni and Spanish Repsol, according to Reuters, citing five sources. Local corporations have been allowed to do so by the US State Department, who sent them a letter to that effect. It's possible that deliveries will begin as soon as next month. According to Reuters' sources, the...
