Market Overview - Page 102

Brent spot prices were approaching $120 earlier today on news that the EU managed to agree on an immediate embargo on 2/3 of oil imports from Russia. We saw Oil trading above current levels for just a couple of days.

A preliminary estimate showed that German inflation continues to pick up, reaching 7.9 y/y in May. This is a new inflation record since 1951, and the reading was also above the forecast of 7.6%. A separate release of import prices.

US stock indices developed a strong rebound all last week. The S&P500 spot index reached 4200, gaining more than 10% from the lows of May 20. Such a rapid recovery has raised the question of whether we are seeing a.

The Dollar is continuing its retreat, which started precisely two weeks ago. Over this period, the Dollar Index has retreated 3.5% from the 20-year highs, losing about half of the gains from the last leg of the rally since late.

A revised estimate for the first quarter showed that US GDP contracted at an annual rate of 1.5% (previously reported at -1.4% and expected -1.3%). A major factor in the decline was a jump in net imports, a situation that.

The yuan has been losing 1.6% in the past two days amid fears of an economic slowdown. This is a solid move compared to how unexpected the bad news was. In our opinion, the appreciation of the last two days.

On Tuesday, Snap shares lost 43% of their value, bouncing back to $13.5, their lowest level since April 2020 and losing more than 80% of their peak valuation last September. The stock looks extremely oversold now. Given the business’s relatively.

US durable goods orders added 0.4% in April after rising 0.6% a month earlier, slightly weaker than the 0.6% increase expected. Excluding transportation, orders rose by 0.3% in April, following a 1.1% increase a month earlier. This series shows steady.

More and more developed central banks are coming out with the pace of policy tightening in the USA. This morning the Reserve Bank of New Zealand raised its rate by 50 points to 2.0%, repeating its move in April. Analysts.

Crude oil has added for the fourth consecutive trading session. However, the rise in quotes has been tempered by comments from the German economy minister, claiming that the EU could agree on an embargo on Russian oil within days. However,.

Gold has added for the fifth consecutive trading session – the longest streak since early April. Intraday yesterday gold reached $1865, having retreated to $1860 now. Although Gold’s prolonged rise in early April turned into a sell-off of almost three.

GBPUSD is trading near 1.2560, having added 3.3% to the monthly lows of May 13. We see a smooth recovery in the Pound from those lows, which is also in line with some easing of risk pull in global markets..