Analysts at U.S. bank Citigroup Inc (NYSE:C). lowered their forecast for the value of the S&P 500 stock index at the end of this year by 500 points, to 4,200 points, due to stubbornly high inflation and aggressive Fed policy. “The Fed’s hawkish attitude and the impact of rising real rates on valuations were the […]

Canadian Prime Minister Justin Trudeau has announced that the country is imposing new sanctions against Russia, with six individuals and 46 entities linked to the Russian defense sector coming under them, the Canadian government’s website said Monday. “The new measures, which come on top of the Canadian government’s already powerful sanctions, include the imposition of […]

Oil prices are rising today after strong growth the day before. The cost of August futures for Brent oil on the London exchange ICE Futures by 8:20 Moscow time was $116.6 per barrel, which is $1.51 (1.31%) higher than the price at the close of the previous session. At the end of trading on Monday, […]

During today’s trading, the US dollar is slightly strengthening against the euro, but getting cheaper against the Japanese yen. Calculated ICE index, showing the dynamics of the dollar against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona), adds 0.03%, the broader WSJ Dollar Index – 0.02%. As of 8:54 Moscow […]

Gas transportation through the Turkish Stream gas pipeline system has resumed after scheduled preventive maintenance, Gazprom (MCX:GAZP) said. “Scheduled preventive maintenance works on the Turkish Stream gas pipeline, scheduled for the period from June 21 to June 28, 2022, have been completed. Gas transportation resumed today at 20:00 Moscow time,” the Russian company wrote. “Turkish […]

Moody’s considered default on two Russian Eurobond issues as default, and a Swiss court found Credit Suisse (SIX:CSGN) guilty of money laundering by drug traffickers – these and other important news for Tuesday morning, June 28, in our daily review. International rating agency Moody’s reported that Russia defaulted on its Eurobonds. It assessed as defaults […]

Investor Michael Burry, famous for his short bets, predicted that consumer spending in the U.S. will fall sharply while retailers’ warehouses will be swamped with excess inventory by Christmas. Moreover, he called the recent recovery in the stock market a temporary respite, and said that a downturn in the market should not be expected until […]

Warren Buffett’s company Berkshire Hathaway on June 23 purchased an additional 794,389 shares of Occidental Petroleum for a little over $44 million, according to a document posted on the website of the Securities and Exchange Commission. The cost of one share within this transaction amounted to $55,389. Taking into account the acquisition of the last […]

Oil quotations are declining after an active growth the day before, caused by concerns about the supply of fuel in the global market. On the eve of the UAE Minister of Energy and Infrastructure Suheil al-Mazroui confirmed that the country is close to maximum production based on the quota of 3.168 million barrels per day. […]

Belarus will fulfill debt obligations on Eurobonds in Belarusian rubles because of the impossibility to make payments in foreign currency due to Western sanctions, reported the government of the republic. “Belarus will fulfill debt obligations on Eurobonds in Belarusian rubles. The government together with the National Bank has adopted a relevant resolution. (…) This measure […]

Quotes of gold futures declined in U.S. trading on Tuesday. At COMEX, a division of the New York Mercantile Exchange, gold futures for delivery in August are trading at $1.00 per troy ounce, down 0.20% at the time of writing this commentary. The low of the session was at $1.00 per troy ounce. At the […]

Retail sales in Japan in May increased by 3.6% compared to the same month last year, according to data from the country’s Ministry of Economy, Trade and Industry. The rate of increase became the maximum for the year – since May 2021. Analysts on average had expected a smaller increase of 3.3%, Trading Economics reported. […]

The dollar appreciates against the euro and decreases in pairs with the yen and the pound sterling after the growth the day before, caused by demand for protective assets amid concerns about the prospects of the global economy. The euro was down about 0.6% the day before after a speech by European Central Bank (ECB) […]

Currency analysts at BMO Capital Markets forecast that the New Zealand dollar will be a laggard in the complex of commodity currencies. In their opinion, the global fuel price spike will continue to have a negative impact on the country’s trade dynamics. In their monthly currency outlook update, analysts say the New Zealand dollar will […]

From July 1, Russian Railways will restore the order of coal exports from Kuzbass, Khakassia, Buryatia and Tuva, which was in effect in 2021, writes “Kommersant” with reference to the minutes of the meeting of the Board of Russian Railways on June 28, which was reviewed by the publication. “For Kuzbass and the republics (Khakassia, […]

US-based Tesla (NASDAQ:TSLA) Inc. is closing one of its Silicon Valley offices and laying off about 200 employees, knowledgeable sources told The Wall Street Journal. The company told employees that it will close the San Mateo office, which was focused on improving its Autopilot driver assistance system, and lay off more than half of the […]

The Chinese yuan rose against the U.S. dollar on Wednesday as the easing of anti-commodity rules for cross-border travellers in China had a positive impact on expectations for the country’s economic recovery. Before the session, the People’s Bank of China set the midpoint of the dollar/yuan pair at 6.7035 against 6.693 on Tuesday. In the […]

In May, retail sales in Germany increased by 0.6% compared to the previous month, according to data from the country’s Federal Statistical Agency (Destatis). Analysts polled by Trading Economics had on average expected an increase of 0.5%. The figure fell 5.4 per cent in April, the fastest pace in a year. Food sales in Germany […]