EUR/USD
1.16503
-0.010%
Gold
4588.25
-0.291%
Oil
82.517
-0.538%
USD/JPY
159.431
0.026%
GBP/USD
1.35933
0.007%
GBP/JPY
216.708
0.034%
Real-time News
On August 28th, Goldman Sachs stated that Persian Gulf oil exports have recovered to approximately two-thirds of pre-war levels. Goldman Sachs analysts, including Daan Struyven, indicated that driven by increased traffic through the Strait of Hormuz, total crude oil and petroleum product exports from the region have risen to 15-16 million barrels per day, still 7-8 million barrels per day lower than pre-conflict levels, but significantly higher than the March low of 5-6 million barrels per day. The volume of oil transported through the Strait of Hormuz alone may have approached the 8-10 million barrels per day estimated by US officials. Goldman Sachs stated, "The increased number of professional carriers shutting down ship tracking signals and the increased ship-to-ship transshipment activities indicate that producers and carriers are adapting to the Middle East conflict." While large quantities of oil are being shipped out of the Persian Gulf, liquefied natural gas and refined product shipments remain low. Goldman Sachs stated, "Given the continued supply disruptions, we still believe that European gas prices and forward refined product prices have more upside potential than crude oil."August 28th - A Reuters poll shows that the vast majority of economists expect the Reserve Bank of New Zealand (RBNZ) to raise interest rates for the second consecutive time next Wednesday, followed by another rate hike next quarter. The RBNZ implemented its first rate hike in over three years last month and hinted at further tightening of monetary policy to push inflation back to its target range of 1%-3%. Official data released subsequently showed that inflation rose to 4.1% last quarter, a two-and-a-half-year high. Economists expect inflation to remain within the target range this year, partly due to upward pressure on energy prices. The survey shows that about 90% of the 31 economists surveyed expect the RBNZ to raise the official cash rate by 25 basis points to 2.75% next Wednesday. HSBCs chief economist for Australia and New Zealand, Paul Bloxham, said, "The main reason is that inflation is above target." Two-thirds of economists expect the RBNZ to raise rates by at least 25 basis points again next quarter, with a median forecast of 3.00% for the official cash rate at year-end.Nomura Securities lowered its target price for Bilibili (BILI.O) from $22.5 to $18.A Reuters poll shows that more than two-thirds of forecasters expect the Reserve Bank of New Zealand to raise interest rates at least once more after September, with the cash rate expected to reach 3.00% or higher by the end of the year.A Reuters poll showed that 27 out of 31 economists expect the Reserve Bank of New Zealand to raise the cash rate by 25 basis points to 2.75% on September 2.
