Oil steadies above $100 a barrel after recession fears
... markets continue to show signs of vigor and the war in Ukraine drags on. Catherine Birch , an analyst at Australia New Zealand Banking Group Ltd, said the market is pricing in a mild recession, which should see support for Brent crude at around $100 a ... ... in the unlikely event of global demand falling by 5%, an event that has only happened in the most severe of recessions. The world's biggest oil importer emerges from strict virus lockdowns that have pummeled demand, there are signs of rising consumption ...
Updated: 07/06/2022
Rupee plummets to new record low on external debt
... by portfolio investors amid tightening global monetary conditions, but could face further pressure because record external debt comes up for repayment through the course of the year and the next year, as India's trade gap widens. More than 40% of the world's debt, or $621 billion, is due for repayment in the next nine months, according to the Reserve Bank of India data. This repayment is equivalent to 44% of India's foreign exchange reserves. The short time period within which these funds must be repaid could exert pressure on the rupee, as many corporations would have either tied up fresh lines of ...
Updated: 07/05/2022
Dollar surges to highest level in 2 years as investors invest in risk-ier currencies
... the appetite for the dollar as yields in Europe and elsewhere fell even more. During times of distress, investors flock to the world's biggest reserve currency and that is helping to support the dollar along with expectations that interest rates in the ... ... Marinov. The euro fell to its lowest level in nearly two decades against the dollar, as traders bet that the European Central Bank will go slower on raising interest rates. The common currency fell by 1.8% to $1.0235, its lowest level since December 2002,...
Updated: 07/05/2022
Dollar rallies amid recession fears, gold plummets
... dollar went to the highest in more than two years as investors retreated to the haven, putting pressure on bullion. The US stock price went down more than 2% during fears that the Federal Reserve hikes to damp inflation could cause a slowdown in the world's largest economy. A pronounced drop in the euro aided the dollar's gain, as bets were made that the European Central Bank will be slower to tighten monetary policy than the Fed . There are concerns that Russia will cut supplies of natural gas, which is a reason for the crisis in the bloc. The Bloomberg Dollar Bloomberg Dollar Spot Index climbed 1%. The price of gold ...
Updated: 07/05/2022
Dollar hits 20-year high against other major currencies
... Investments in Toronto, said that the dollar is turning into a global phenomenon and that there is less places to hide in the world. The euroUSD, Australian AUDUSD, and Canadian dollars USDCAD , and Norwegian kroneUSDNOK, were underperformed by comparison ... ... . Read: Euro Dives to a 20 year low against the dollar. The currency market is only coming around to the fears that central banks will have to drive rates higher to combat inflation because of the sacrifice of growth. The delay was due to the fact that ...
Updated: 07/05/2022
Oil plummets on recession fears
... said the market is getting tight, but the only way you can explain is that there is a fear of recession in every risk asset. You're feeling the pressure. Oil futures fell as investors fretted about the possibility of an economic downturn as central banks across the world take aggressive actions to limit inflation, along with equities, which are often used as a demand indicator for crude oil. Business growth in the bloc slowed last month, with forward-looking indicators suggesting the region could slip into decline ...
Updated: 07/05/2022
Russia Space agency chief wants companies producing satellites to be nationalised
... its obligations under several government contracts. The United States and its allies responded to Moscow decision to launch a military operation in Ukraine in late February by slapping Russia with an unprecedented number of sanctions, targeting its banking and finance sectors, as well as the aviation and space industries. In March, a major US space industry conference censored the name of Yuri Gagarin , a Soviet cosmonaut and the first human in space, explaining that it was due to current world events. The European Space Agency indefinitely postponed its ExoMars rover mission indefinitely because of anti-Russian sanctions. The launch of the rover was to be carried out in partnership with Russia and was initially set for later this year....
Updated: 07/05/2022
Dow down 634 points, S&P 500 down 78.46%
... Oppenheimer Co. The U.S. markets were reopened Tuesday after 11 declines in the past 13 weeks as a first quarter contraction in the world's largest economy boosted the prospects of a recession. Consumer prices aren't peaking with inflation surging to 8.6 per ... ... European growth is slowing down at the same time. The growth concerns in the US are put under fire because of this. The central bank raised its key interest rate as expected to be 1.35 per cent in Australia. There are more than 80 central banks that have ...
Updated: 07/05/2022
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