Israel bans use of cash for purchases larger than NIS 6,000
Cash deals exceeding 6,000 NIS will be illegal, as part of the effort to fight against money laundering and criminal activity. Under the new law, any payment to a business above 6,000 NIS ($1,700) must be made using alternative methods, such as a digital transfer or a debit card. Trading Continue Reading
ECB Bond Tool Seen Having No Limits as Steeper Rate Hikes Loom
Jana Randow and Harumi IchikuraFri, July 15, 2022 at 5:00 AM·3 min read 1 / 4 ECB Bond Tool Seen Having No Limits as Steeper Rate Hikes Loom The European Central Bank will unveil an unlimited bond-buying tool next week to help markets better adjust to steeper and faster interest-rate increases Continue Reading
Europe biggest market for US crude oil for first time in six years as Russia-Ukraine war rages on
For the first time in six years, Europe was the top market for US crude oil as the Russia-Ukraine war continues to impact global markets. Europe overtook Asia, the previous top market, and received 213.1m barrels of crude while Asia received 191.1m barrels of American crude in the first five Continue Reading
Gold Down, as Red-hot U.S. Inflation Data Grow Fears of Huge Interest Rate Hikes
By Zhang Mengying Investing.com – Gold was down on Thursday morning in Asia, with expectations growing that the U.S. Federal Reserve could hike interest rates more aggressively this month to fight red-hot inflation. Gold futures fell 0.41% to $1,728.35 by 12:16 AM ET (4:16 AM GMT). The dollar, which normally moves inversely Continue Reading
Russia’s breadbasket seeing high yields as wheat harvest starts
Farmers in Russia’s southern Rostov region, one of the largest grain producing and exporting areas of the country, are seeing high wheat yields as harvesting gets underway, growers and officials in the region said. Sanctions-hit Russia, the world’s largest wheat exporter, is expected to produce a massive crop in 2022 Continue Reading
Hungary parliament panel reiterates opposition to global minimum tax
BUDAPEST (Reuters) – Hungary’s parliamentary economic affairs panel on Monday reiterated the ruling Fidesz party’s opposition to a global minimum tax in a row that has triggered conflict with the United States and put pressure on the forint. Hungary, already locked in a rule-of-law debate with the European Union that Continue Reading
King Dollar, Twitter Sues Musk, China COVID Spread – What’s Moving Markets
By Geoffrey Smith Investing.com — The dollar surges to a new 20-year high, supported by Friday’s jobs report. Twitter hires a crack legal team to squeeze a $1 billion break fee out of Elon Musk after he abandoned his $44 billion takeover offer. Stocks are set to open lower, bracing for another Continue Reading
Oil Down over Demand Concerns as China Sees New COVID-19 Outbreaks
COVID-19 variant. Brent oil futures fell 0.54% to $106.44 by 12:52 AM ET (4:52 AM GMT) and crude oil WTI futures Crude Oil WTI 102.48-2.31 (-2.20%)08:41:12 – Real-time derived data102.7804:0006:0008:00104.00103.00102.50103.50 Technical Summary5 Min:Strong SellHourly:Strong SellDaily:Strong SellMonthly:Strong BuyWhat is your sentiment on Crude Oil WTI? or declined 0.87% to $103.88. Both contracts posted weekly declines last week as Continue Reading
No signs of reduction of Russia’s oil output.
Outbound shipments of Russian oil have yet to show signs of a major decline, as many analysts feared last month. In fact, Russia’s shipments of crude oil rebounded in the first full week of April to the highest level so far this year Bloomberg News’ tracker of crude leaving Russian Continue Reading
The metal added more than $32,000 in the last 2 days, to trade at a 15-year high.
– The 100% move in Nickel prices in the last 2 days had a volatility of more than 42 standard deviations, which is almost an impossible event. For reference, a Black Swan event has 6 standard deviations move. – Supply disruption fears have gripped the markets amid an escalating Russia-Ukraine Continue Reading