Markets & Industries
Saxo Bank expects global monetary policy tightening - 01/06/2022
Saxo Bank admits monetary policy tightening by the world's major central banks in the near future due to the persistent nature of global inflation, Saxo Bank Denmark's investment director Steen Jakobsen said. "It is very likely that the major central banks will move into a cycle of rate hikes. And we certainly saw in December that the Bank of England was one of the first to start that process. So...
US retail sales up 8.5% over the festive period - 12/30/2021
Between November 1 and December 24, retail sales in the United States increased by 8.5 percent over the same period in 2020 and by 10.7 percent over the same period in 2019. The Wall Street Journal reported this, citing statistics from Mastercard Spending Pulse, which measures Mastercard card sales. Experts estimate that this is the largest sales rise in this time period in the recent 17 years....
Venezuela announces daily oil production to rise to highest since 2019 - 12/29/2021
Venezuela has announced that the country's oil production has exceeded 1 million bpd. This is the highest since 2019, when the US put state oil company PDVSA on its sanctions list. Experts doubt that Caracas will be able to keep production at this level. Venezuela has announced an increase in oil production to its highest level since the US imposed sanctions on oil state-owned PDVSA in 2019. "We...
Nikkei: Chinese GDP growth to slow to 5.1% in 2022 - 12/29/2021
According to economists polled by Japan's Nikkei, China's GDP will expand by 5.1 percent in 2022. Growth is predicted to reach 7.9% by the end of 2021. China's GDP growth has slowed, according to economists, due to issues in the country's real estate market and tighter anti-COVID-19 efforts. This year, the Chinese economy has already exhibited symptoms of faltering. Growth was 12.7 percent in...
China to tighten controls on local companies' entry into foreign exchanges - 12/28/2021
The Chinese authorities will not ban local companies from IPOs in foreign markets through variable interest entities (VIEs), provided that they agree their intentions with state regulators, according to a statement from China's State Securities Regulatory Commission. Earlier Bloomberg reported citing sources that Chinese authorities want to prohibit Chinese companies to conduct IPOs in foreign...
Global economy to surpass $100T mark in 2022 - 12/27/2021
According to the Centre for Economics and Business Research (CEBR) in the United Kingdom, the global economy will surpass $100 trillion for the first time in 2022, says Bloomberg. As a result, this figure will be attained two years sooner than expected. In terms of GDP, China will take two years longer than previously forecasted to catch up to the United States. This is expected to happen in...
Rystad: Global renewables capacity commissioned in 2021 grows by 4.7%, hits new record - 12/24/2021
Installed renewable energy (RE) capacity at the end of the year reached a record high, exceeding the 2020 result by 4.7%, according to Rystad Energy analysts. "This was a record year for renewables globally, with installed capacity of 227 GW, 4.7% higher than in 2020," the analysts said. At the same time, they recorded a marked increase in announcements of solar energy projects. And the number...
Global steel production up 4.5% in 11 months - 12/23/2021
Global steel production in January-November 2021 amounted to 1.753 billion tonnes, having increased by 4.5% year-on-year, according to World Steel Association (WSA) data. CIS countries, according to preliminary data, increased steel output by 6.8%, to 97 million tonnes, including Russia - by 7.1%, to 69.7 million. The EU countries produced 141.4 million tonnes of steel (an increase of 17%),...
US secondary market home sales rise worse than forecast in November - 12/23/2021
Number of home sales and purchases on the US secondary market rose 1.9% in November compared to October to 6.46 million, according to a report by the National Association of Realtors (NAR). This is slightly worse than forecast. Analysts polled by DailyFX had expected a figure of 6.52 million compared to October's level of 6.34 million. Sales of single-family homes in the U.S. in November...
Rystad: Number of new oil and gas fields to be worst in 75 years - 12/22/2021
The number of oil and gas fields discovered in the world in 2021 could be the lowest in 75 years, according to Rystad Energy analysts. "Global oil and gas discoveries in 2021 could be the lowest in 75 years if there are no significant discoveries before the end of December," the analysts write. As of the end of November, discovered reserves stood at 4.7 billion barrels of oil equivalent, and if...
