EUR/USD
1.15892
-0.179%
Gold
5178.48
-0.258%
Oil
84.576
-0.775%
USD/JPY
158.487
0.284%
GBP/USD
1.34201
0.023%
GBP/JPY
212.696
0.352%
Real-time News
Russian Foreign Ministry: (Regarding the Ukrainian attack on Russias Bryansk region) Britain has exceeded the norms of international law.According to the Financial Times, fintech company Revolut is expected to receive a full banking license in the UK this week.On March 11th, Brian Jacobsen, chief economist at Annex Wealth Management, stated that Februarys inflation data was initially heading in the right direction, but the Middle East conflict altered this trajectory. Energy, which could have led to deflation, is now instead driving inflation. With the fertilizer market in turmoil, food prices may also be showing signs of accelerating inflation. While food and energy comprise 20% of the CPI, they play a role far beyond their size in shaping consumer perceptions of inflation. The Federal Reserve will likely emphasize maintaining interest rates and remaining vigilant about inflation, but monetary policy cannot reopen the Strait of Hormuz, so these hawkish statements are likely to be merely rhetoric. The Fed will not actually take action. If it does, it could repeat the mistake of ECB President Trichet in 2011, when he panicked and raised interest rates due to rising commodity prices, exacerbating the Eurozones recession.March 11 - While inflation met expectations last month, it remained stubbornly high, driven by rising gasoline prices. This inflation report reveals the true state of U.S. consumer prices before the energy cost surge triggered by the Iran war. However, the data released Wednesday was overshadowed by the conflict that erupted following the February 28 U.S.-Israeli attack on Iran. Oil prices fluctuated wildly due to the rare blockade of shipping lanes through the Persian Gulf. Gasoline prices have already jumped significantly, and prices are expected to rise further when this months inflation data is released in early April. Laura Rosner-Warburton, senior economist at MacroPolicy Perspectives, predicts that Marchs month-over-month inflation could rise as much as 0.8% or 0.9%, which would be the largest monthly increase in nearly four years, easily pushing the annual inflation rate above 3% and close to 4%.The China Earthquake Networks Center officially determined that a magnitude 2.9 earthquake occurred at 20:38 on March 11 in Zixing City, Chenzhou City, Hunan Province (25.89 degrees north latitude, 113.41 degrees east longitude), with a focal depth of 6 kilometers.
