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UBS Global Wealth Management: Looking ahead to 2026, it forecasts US GDP growth of 1.7%.On November 20th, the German central bank stated in its monthly report released Thursday that the German economy is likely to experience moderate growth in the final quarter of this year, primarily driven by expansion in the service sector, while its weak industrial sector is stabilizing. The German economy, Europes largest, experienced zero growth in the last quarter, having stagnated for most of the past three years. Industry suffered a deep recession, while households relied on savings to rebuild wealth damaged by rapid inflation. Furthermore, the German central bank noted that industry has lost significant competitiveness due to high costs and can only benefit to a limited extent from the global economic recovery; US tariffs could also put pressure on demand.UBS Global Wealth Management: Looking ahead to 2026, UBS Group prefers the euro and the Australian dollar over the US dollar.On November 20th, Luk Fook Holdings Limited (00590.HK) announced that it expects revenue for the six months ended September 30, 2025 to increase by approximately 20% to 30% compared to the same period last year, primarily due to effective product differentiation and sales strategies that successfully drove a significant increase in sales of priced jewelry products. Furthermore, it expects profit for the period to increase by approximately 40% to 50% compared to the same period last year, mainly benefiting from rising gold prices, an increased sales proportion of priced jewelry products, and improved profit margins driven by operating leverage.UBS Global Wealth Management: Looking ahead to 2026, we forecast a year-end target of 7,700 for the S&P 500.

WTI price falls below the $76 mark amid altering financial dynamics and global growth concerns

Alina Haynes

Mar 14, 2023 11:40

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The West Texas Intermediate (WTI) price is unchanged on Tuesday amid a weaker US Dollar and muted risk sentiment. WTI fell to a low of $72.31 on Monday as a result of a strong risk-off environment sparked by the repercussions from Silicon Valley Bank (SVB) and Signature Banks. Since then, the WTI price has risen significantly as a result of the Federal Reserve's plan to intervene. After reaching a peak of approximately $76 on Monday, the WTI price retreated as the dynamics of the US Dollar shifted.

 

The financial system is being harmed by rising borrowing costs around the world and growth concerns are being raised. The WTI price is in a corrective decline as the narrative of China's reopening does not appear optimistic, as the country has lowered its growth forecast to 5.0%.

 

The SVB debacle exacerbates global growth concerns, as it is interpreted as the first of many financial system dings. Due to rising financing costs, businesses are struggling to make their repayments, which will eventually result in a decline in demand.

 

Despite tightened production and numerous voluntary cuts from the Organization of the Petroleum Exporting Countries (OPEC), the WTI price is struggling to surpass $80.

 

Oil prices are influenced by a number of variables, including the US dollar, inflation, OPEC, and global growth concerns. Considering the aforementioned factors, it is difficult to rationalize the directional nature of oil prices, but it appears that the oil market is primarily driven by development concerns.

 

Since these nations are struggling to maintain oil prices above the desired $80 mark, it will also be crucial to monitor the OPEC position on reduced oil prices.

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