Markets & Industries
World Bank expects the worst price crisis since 1970s - 04/29/2022
The world economy has entered the age of the strongest commodity shock since the 1970s, with surging prices for energy, food, and metals, shows a new WB’s analysis of commodity markets. Energy prices are expected to soar by more than 50% in 2022, while non-energy items would rise by over 20%, according to the World Bank. Despite a drop in practically all commodity prices in 2023-2024, researchers...
Oil prices fall on fears for demand in China - 04/28/2022
According to market statistics, global oil prices are down more than 1% on Thursday morning as investors remain concerned about demand in China. Brent crude prices declined 1.4 percent to $103.48 a barrel on Thursday morning, while WTI futures fell 1.3 percent to $100.69 a barrel. The situation in China continues to influence oil prices. For example, the country, which is one of the largest...
World Bank gives outlook on commodity and food prices - 04/27/2022
According to a forecast released by the World Bank, record high commodity and food prices will remain around the world until 2024. "The situation in Ukraine has delivered a significant blow to commodities markets," the document reads, "altering global trade, production, and consumption patterns in such a way that prices will continue at historically high levels until the end of 2024."...
IMF: Rising domestic prices result in growing external prices in the world - 04/22/2022
Many countries' efforts to curb the rise of local energy and food prices (via tax breaks, subsidies, and other means) may cause them to rise even more on the global market, resulting in huge budget costs. The International Monetary Fund's new financial review (Fiscal Monitor) shows these conclusions. It reviews data from 134 nations on responses to rising food and energy prices as of March 31...
Norway's sovereign wealth fund loses $74B after Ukraine crisis and COVID - 04/22/2022
According to a statement from Norway's national wealth fund, which controls $1.3 trillion in assets, the crisis in Ukraine and the quarantine imposed in China over the COVID-19 outbreak cost the fund $74 billion in the first quarter. This is the world's largest sovereign wealth fund's first quarterly deficit since 2020. billion due to events in Ukraine and a lockdown in China Stocks, which...
China notes record values of world commodity prices - 04/18/2022
China believes geopolitical conflicts have driven up prices of key commodities. Fu Linghui of China's State Statistics Office said on Monday that geopolitical conflicts, as well as the resulting sanctions and counter-sanctions, have led to record fluctuations in the prices of major commodities on the world market. "Since the beginning of this year, the international environment has undergone...
Gold futures rise amid high U.S. inflation - 04/18/2022
Gold is rising in value on Monday morning as a safe haven asset amid high inflationary pressures in the U.S., trading data showed. The price of June gold futures on the Comex Exchange in New York is up $11, or 0.56%, to $1,985.9 a troy ounce this morning. Silver futures for May delivery are up 1.19% to $26.01 an ounce. The gold price is supported by high inflation in the U.S. Thus, the annual...
U.S. retail sales rise worse than forecast in March - 04/15/2022
According to a news statement from the US Commerce Department, retail sales in the United States increased 0.5 percent in March over February. DailyFX polled analysts, who expected rise of 0.6 percent. Retail sales grew 0.8 percent in February, not 0.3 percent as previously reported, according to a fresh estimate from the Commerce Department. In March, retail sales excluding autos and...
Over 160 Taiwanese companies suspend operations in Shanghai and Kunshan - 04/14/2022
Taiwan Central News Agency: over 160 companies have suspended production. More than 160 Taiwanese companies have been forced to suspend production due to the ongoing lockdown in the cities of Shanghai and Kunshan in eastern China due to an outbreak of the coronavirus infection, the island's Central News Agency reported, citing the Taiwan Financial Supervision Commission (FSC). FSC Securities...
Chinese car market collapses in March - 04/12/2022
Sales of new cars in China, the largest market in the world, collapsed in March due to new coronavirus restrictions. In relation to March of the last 2021, sales fell by 11.7% and amounted to 2.23 million cars, Reuters writes. According to the Chinese Association of automakers, the lockdown, which was the largest so far, did not affect interest in electric vehicles: their sales in China have...
