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The Dow Jones Industrial Average closed at 41,964.63 on Wednesday, March 19, up 383.32 points, or 0.92%. The S&P 500 closed at 5,675.29 on Wednesday, March 19, up 60.63 points, or 1.08%. The Nasdaq Composite closed at 17,750.79 on Wednesday, March 19, up 246.67 points, or 1.41%.The United States net international capital inflow in January was -48.8 billion U.S. dollars, and the previous value was revised from 87.1 billion U.S. dollars to 103.2 billion U.S. dollars.Foreign investors net bought US$13.3 billion of U.S. Treasuries in January, compared with US$49.7 billion in the previous month.The U.S. net long-term capital inflow in January was -45.2 billion U.S. dollars, and the previous value was revised from 72 billion U.S. dollars to 75 billion U.S. dollars.On March 20, the U.S. dollar gave up some of its gains against the euro as the Federal Reserve kept interest rates unchanged as expected, still hinting at a cumulative rate cut of 50 basis points this year. Powell said that the current uncertainty is "exceptionally high", and he described the challenges faced by central bank officials in making new forecasts for the economic outlook amid a wave of new policy initiatives from the Trump administration. "By all accounts, the dollar has been pretty calm," said Helen Given, head of trading at Monex USA. "I think it has to do with the fact that no one really wants to be caught on the wrong side of any trade. I think were probably going to be hovering around where we are now until we get some firm first quarter GDP data... Its going to be a very important question for traders whether the economic weakness that everyone is worried about has fully become a reality."

Oil prices rise due to anticipated OPEC supply cuts

Skylar Williams

Aug 25, 2022 10:50

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Despite dismal economic signals from central bankers and a decrease in equities prices, oil prices increased in early Asian trade on Wednesday on Saudi Arabia's proposal that the Organization of the Petroleum Exporting Countries (OPEC) may consider a production cut.


U.S. crude prices rose 34 cents to $95.23 per barrel at 00:16 GMT, while Brent crude futures rose 51 cents to $101.73 per barrel.


Wednesday marked a three-week high for both benchmark crude oil contracts after the Saudi energy minister hinted at a possible supply cut.


Later, OPEC sources told Reuters that any cut by OPEC and its allies, known collectively as OPEC+, is expected to coincide with the return of Iranian oil to the market if Tehran obtains an international nuclear deal.


Iran reported receiving a response from the United States over the European Union's "final" language for resurrecting Tehran's 2015 nuclear agreement with major powers.


Ahead of Friday's U.S. Federal Reserve meeting, traders are seeking to predict whether the central bank will stop rate hikes or continue aggressive until it reaches its 2% inflation target.


Official numbers released on Wednesday suggested a sluggish demand for gasoline, which augurs a severe decline in economic activity.