EUR/USD
1.15066
0.022%
Gold
5002.17
-0.078%
Oil
95.879
2.849%
USD/JPY
159.119
0.030%
GBP/USD
1.33238
0.034%
GBP/JPY
212.012
0.127%
Real-time News
March 17 – German investor confidence in March fell far more than expected, the German think tank ZEW said on Tuesday, due to heightened price pressures caused by the Middle East conflict. Germanys ZEW economic sentiment index fell to -0.5 in March, compared with analysts expectations of a decline to 39.0 from 58.3 in the previous month. "The ZEW index has collapsed," said ZEW Chairman Ashim Wambach, adding that increased inflationary pressures pose a risk of a slowdown in Germanys nascent economic recovery. Wambach stated that the extent of these effects depends on the intensity and duration of the conflict. According to Wambach, financial market experts are skeptical that the conflict can be resolved quickly. Despite the sharp drop in investor confidence, Germanys ZEW current economic conditions index rose to -62.9 in March, from -65.9 in the previous month.Iranian Foreign Ministry: Foreign Minister speaks with UN Secretary-General.As gasoline retail prices rise, Arizona Democratic Senator Ruben Gallego is pressuring the U.S. Department of Energy to provide detailed plans for the strategic petroleum reserve.The Japanese government will seek to purchase Alaskan oil.On March 17th, Turkeys Finance Minister stated that oil price volatility triggered by the war with Iran could temporarily thwart the governments inflation-reducing plans. Although he claimed the country had taken "proactive measures" to limit the wars economic impact, such as establishing a fuel tax mechanism to protect consumers from rising oil prices and implementing regulatory measures to smooth market fluctuations, these efforts have failed to prevent its effects. Rising energy costs are impacting all sectors of the Turkish economy, potentially undermining monetary policies previously implemented to curb consumer demand, stabilize the liras exchange rate, and rebuild investor confidence.
