EUR/USD 1.16275
0.046%
Gold 4400.81
-0.259%
Oil 90.798
0.066%
USD/JPY 154.146
-0.131%
GBP/USD 1.35416
0.011%
GBP/JPY 208.743
-0.114%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
September 8th - The New York Federal Reserve Banks Microeconomic Data Center released its August 2026 Consumer Expectations Survey today. The results show that household inflation expectations have slightly declined in the medium term, while remaining unchanged in the short and long term. Gasoline price growth expectations rose again in August. Labor market expectations are mixed: unemployment and employment expectations have worsened, while unemployment and job loss expectations have improved. Expectations for an increase in the unemployment rate have reached their highest level since April 2020. The survey was conducted from August 3rd to 31st. Regarding inflation, one-year inflation expectations fell from 3.63% to 3.58%, and the median expectation for home price growth fell by 0.2 percentage points to 3.0%, driven by residents in the Northeast. In terms of commodities, one-year gasoline price expectations rose by 1.7 percentage points to 4.6%, food by 0.3 percentage points to 5.3%, and medical care by 0.2 percentage points to 9.1%; college education costs rose by 0.3 percentage points to 6.1%, and rent rose by 0.7 percentage points to 6.6%. Regarding the labor market, the median expectation for one-year income growth rose slightly by 0.1 percentage points to 2.9%. The unemployment rate is expected to rise by an average of 1.6 percentage points to 44.4%, the highest since April 2020, with increases across all age groups, education levels, and income levels.BondBloxx Investment Management stated that the Federal Reserves September interest rate decision was like "flipping a coin."U.S. Treasury Secretary Bessenter: The economy is expected to attract more people back to the labor market.U.S. Secretary of State Marco Rubio concluded his remarks.The EU and Canada plan to reach a broad agreement to strengthen their cooperative relationship.

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

Alina Haynes

Mar 14, 2023 11:40

截屏2023-01-13 下午5.17.06.png

 

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.

Suggestion