Representatives from 15 oil-rich nations attend OPEC meetings. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
Daily News: Tuesday, January 16
While you were sleeping, important events happened in the financial world. Our short summing up will help you to be on top of things.
- The yen declined. Japanese authorities can limit the growth of the currency soon. USD/JPY recovered and tried to get to 111.00.
- The euro is steady. After the growth that was caused by optimism about the euro zone’s economic outlook and expectations for the European Central Bank to taper its quantitative easing the euro is calming down and falling to the dollar a little bit from 1.2280 to 1.2240.
- On Monday Sterling was above $ 1.38 for the first time since the decision of Brexit. Now it is falling waiting for the Consumer Price Index that will appear at 11.30 MT time.
- The People’s Bank of China lowered the interest rate on 63-day reverse repos, that brought it in line with other interbank rates.
- Bitcoin is sliding ($13211.25; -2.76%) again because of the comments about tax regulation, crypto exchange shut down, crypto measures, cryptocurrency trading ban of the South Korea’s Finance Minister.
- Cryptocurrency Hedge Funds gained 1,167% as a group in 2017. Bitcoin boom helped them to achieve such height.
- OPEC calls to shorten the oil production do not work. Brent crude price is sliding from the highest in three years in London.
On April 22, 2022, from 10:15 to 11:00 MT time, the Markit will release German and French flash services and manufacturing PMI.
The ECB will publish the Monetary Policy statement on Thursday, April 14, at 14:45 MT (GMT+3).
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
The US PPI will come out on Thursday, May 12, at 15:30 MT time.
The US CPI will come out on Wednesday, May 11, at 15:30 MT time (GMT+3).