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Frances final October CPI annual rate was 0.9%, below the expected 1% and the previous value of 1.00%.Frances October harmonized CPI month-on-month rate final reading was 0.1%, in line with expectations and down from 0.10% previously.Frances October harmonized CPI annual rate final reading was 0.8%, below the expected 0.9% and the previous reading of 0.90%.November 14th - The US government shutdown has ended, but for investors, the aftereffects are only just beginning to emerge. They worry that the stock market is at a delicate juncture, with the lack of economic data potentially delaying or even disrupting the Federal Reserves interest rate cut plans. On Thursday, the interest rate-sensitive Nasdaq suffered its worst sell-off in a month, following its biggest weekly drop since April a week earlier. The index, which surged this year with the booming development of artificial intelligence stocks, is now down about 5% from its October peak. The problem lies in the information vacuum. Some data was not collected during the 43-day shutdown and is unlikely to be released again. Federal Reserve Chairman Powell likened the situation to "driving in the fog," suggesting that policymakers might "slow down" their response—in other words, they might hold off on rate cuts rather than cut rates. Bob Savage, head of macro strategy at BNY Mellon, said, "The Fed, like us, is acting blindly." He also stated that the "dot plot" might be more closely watched than interest rate decisions because their expectations for economic growth and employment are truly important. However, many investors certainly believe that the recent decline is just a minor hiccup in an uptrend, given the booming investment in artificial intelligence. But the market is expected to experience some volatility for a while. The dollars decline along with the stock market may indicate that global funds are flowing out of the United States.According to Japans Jiji Press, Bank of Japan Deputy Governor Shinichi Uchida will work remotely while hospitalized.

Despite a Large Gain in US Crude Inventories, Oil Prices Finished up 4%

Haiden Holmes

Apr 14, 2022 09:34

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The improvements come only one day after both benchmarks gained more than 6%. The oil market has fluctuated dramatically as end consumers and dealers attempted to assess the interruption in Russia's daily shipments after its invasion of Ukraine. The majority of estimates vary between one million and three million barrels per day.


"At the end of the day, the market is being driven by some of the stories coming out of Russia, which is getting more dangerous, and which continues to be a concern," said Phil Flynn, an analyst at Price Futures Group. "There is still dispute about the extent to which this will have an effect."


President Joe Biden of the United States accused Russia of genocide on Tuesday, and the United States, France, and Germany all committed to provide more weaponry. Biden included artillery systems, armored personnel carriers, and helicopters in his list.


Major global trading houses intend to cut crude and gasoline imports from Russia's state-controlled oil businesses as early as May 15, sources said, in order to avoid violating European Union sanctions on Russia, the world's second biggest crude exporter.


Russian President Vladimir Putin said that Moscow can simply divert energy exports away from the West. Certain nations, particularly India, have continued to purchase Russian oil at substantial discounts. 


The International Energy Agency (IEA) cut its forecast for global demand on Tuesday, claiming that increased global production may offset Russian oil supply reductions. The IEA forecasts that Russian production would fall 1.5 million barrels per day in April before increasing to close to 3 million barrels per day in May.


The White House will release 180 million barrels from US reserves over the next six months, as part of a 240 million barrels release from International Energy Agency members.


The United States' output is predicted to continue growing, from 11.8 million barrels per day today to over 12 million in 2022. Exports of refined goods hit an all-time high, as strong international demand reduced US stocks.


The Organization of the Petroleum Exporting Countries (OPEC) has said that it would be difficult to compensate for anticipated supply losses from Russia and will thus refrain from pumping more petroleum.

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