The producer cartel Opec is struggling for its role: does it want to be a price maker on the oil market or just a spectator? source site
The dollar weakened significantly at the end of the week. After hitting a 20-year high against other major currencies on Wednesday, the greenback saw profit-taking on Friday. In return, the euro rose by half a percent and was quoted above parity again at $1.045. After the historically significant interest rate hike by the European Central Bank, the common currency initially came under pressure the day before. Normally, rising interest rates increase the attractiveness of a currency from the investor's point...
The euro lost value on Thursday. The common currency fell 0.6 percent to $0.9944 after rising to $1.0029 earlier. The reason for the losses was, among other things, pessimistic statements by the President of the European Central Bank (ECB), Christine Lagarde, about the economic prospects in Europe. The ECB's decision to raise key interest rates by 0.75 percentage points was expected. "The ECB is emphasizing that fighting inflation has top priority," said portfolio manager Thomas Altmann from investment advisor QC...
Worries about a global recession as a result of significant interest rate hikes by the major central banks weighed on commodity prices on Wednesday. Many experts are expecting a record hike of 0.75 percentage points for the interest rate meeting of the European Central Bank (ECB) this Thursday. Gilles Moec, chief economist for asset management at the insurer Axa, does not even rule out a step of a full percentage point in the fight against rampant inflation. "It is clear...
High inventories and considerations about the possibility of capping prices are pushing down prices on the gas market. On the foreign exchange market, the euro falls again to a 20-year low. source site
The threat of recession in Europe due to a lack of gas supplies from Russia sent the euro plummeting on Monday. The common currency fell 0.7 percent to $ 0.9879, its lowest level in almost 20 years. The euro has been burdened for some time by the uncertain supply of natural gas.The Turkish lira also lost value. Here, the increase in inflation in Turkey to a good 80 percent again triggered sales of the national currency. In turn, the dollar...
Speculations about a resumption of the gas deliveries interrupted by Russia are causing prices to fall sharply. The message about the stop of delivery reaches the markets only after the close of trading. source site
Speculations that US interest rates would continue to rise sharply gave the dollar a tailwind on Thursday. The dollar index rose as much as 0.8 percent to 109.68 points, hitting a 20-year high. In return, the euro depreciated, losing 1.2 percent to $0.9939. Despite fears of a recession in the US, currency watchdog Loretta Mester does not expect any interest rate cuts in the coming year. Instead, the chair of the Cleveland Fed District assumes that interest rates will rise...
The shutdown of the important Nord Stream 1 pipeline is making stockbrokers nervous. The listings show strong price swings. But the price of oil is going down significantly. source site
The prospect of a further significant increase in key interest rates in Europe caused exchange rate gains for the euro on Tuesday. The common currency rose 0.2 percent to $ 1.0019. Both the US Federal Reserve and the ECB are apparently willing to accept a recession in the fight against inflation. Supporters of a restrictive monetary policy course could feel confirmed by the German inflation data. Inflation rose to 7.9 percent in August compared to the same period last year....
