EUR/USD 1.14132
-0.238%
Gold 4002.47
-0.320%
Oil 81.495
0.171%
USD/JPY 162.533
0.094%
GBP/USD 1.34481
-0.072%
GBP/JPY 218.581
0.022%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
July 20 (Xinhua) -- Bulgarian Prime Minister Radev said on the 20th that the Bulgarian government has received a request from the United States to deploy up to eight refueling aircraft at the Bezmer Air Base in Bulgaria and will submit it to parliament for approval. Radev stated that the government received the request from the US on the 17th, which aims to support its military operations in the Middle East. The US cited a 2006 intergovernmental defense cooperation agreement between the two countries. This agreement allows the US military to use bases within Bulgaria, including the Bezmer Air Base. Radev said that although the US urgently submitted the deployment request, the Bulgarian government has not yet approved it because, according to Bulgarian law, such a decision must be made by parliament. The government will propose to parliament that the refueling aircraft be deployed at the Bezmer Air Base.July 20 – KPMG Canada Chief Economist Ali Jaffery stated that Canadas June inflation report showed limited evidence of rising energy costs being passed on to goods such as food. The June report indicated that the inflation rate slowed to 2.8% in June from 3.2% in the previous month. Jaffery said that economic literature suggests this transmission could take a year or more to peak, but the slow start is encouraging. He stated that concerns about accelerating commodity price increases due to the combined effect of rising energy prices and US tariffs have not been substantiated. He added that the CPI basket showed "considerable weakness" after excluding travel services; travel service prices rose in June due to the World Cup matches held in Toronto and Vancouver.July 20th - The United Arab Emirates (UAE) recently released the latest data showing that its non-oil foreign trade reached 1.937 trillion UAE dirhams (approximately 3.67 dirhams to 1 US dollar) in the first half of 2026, a record high, representing a 13.1% year-on-year increase. The data shows that non-oil exports were the main driver of the UAEs trade growth in the first half of this year. During the same period, the UAEs non-oil merchandise exports reached a record 452.8 billion dirhams, increasing its share of total non-oil foreign trade from 21.3% in the same period last year to 23.4%. In terms of commodity structure, gold was the largest commodity in the UAEs non-oil trade, with trade volume increasing by 48.8% year-on-year in the first half of the year; communication equipment, jewelry, and automobiles followed closely behind.According to Iranian media reports, the Iranian Interior Minister led a delegation to Pakistan today. During the visit, the two sides will discuss and exchange views on developing bilateral relations in talks and joint meetings, including strengthening border cooperation and expanding cooperation in the economic, transit, and agricultural fields.The UAE strongly condemned Irans renewed hostile attacks on Bahrain and Kuwait.

WTI advances toward $75.00 as China-related demand optimism offsets recession fears

Daniel Rogers

Jan 09, 2023 11:55

244.png 

 

In the early hours of Monday, WTI steadily climbs near the intraday high of $74.70 as bullish emotion competes with economic slowdown worries. Despite this, the weaker US Dollar and a light schedule allow buyers of black gold to maintain control following Friday's mixed performance.

 

In spite of this, the risk profile remains elevated in light of China's reopening of its borders after a three-year closure. On the same line, Guo Shuqing, party secretary of the People's Bank of China, made his remarks (PBOC).

 

Reuters, transmitting China unlock news, claimed that "about 2 billion journeys are anticipated this season, roughly doubling the volume of previous year, and recovering to 70% of 2019 levels," citing a statement from the Chinese government.

 

On the other side, PBOC's Shuqing stated, "The world's second-largest economy is likely to recover rapidly due to the country's optimal Covid-19 response and the continued implementation of its economic policies."

 

The US Dollar Index (DXY) fell the most in three weeks the day before, down 0.20% intraday to 103.70 as of press time, as the US employment report failed to excite greenback purchasers and the US activity numbers stoked fears of an economic slowdown. It's worth mentioning that the previous day's disappointing US wage growth, ISM Services PMI, and Factory Orders weighed on Treasury bond yields and the DXY.

 

On a different page, reports regarding a delay in the restoration of the colonial pipeline and the Russia-Ukraine conflict appear to also benefit energy buyers. Traders fear additional rate hikes ahead of the release of the Consumer Price Index (CPI) for December from China and the United States on Wednesday and Thursday, respectively, which tests the positive momentum.

Suggestion