European orientation to dispense with Russian gas and Negative trading in the US and Japan
Global stock markets mixed overnight
US stock indices point to weaker openings
Markets in Hong Kong, Australia and most of Europe were closed for the Easter holiday on Monday
Evest follows market developments in the following report
topic
Macron: We don’t need Russian gas
US indices decline
Oil moves in different directions
Gold and silver rise dramatically
Negative trading in Japan
Europe and Russian gas
Macron: We don’t need Russian gas
French President, Emmanuel Macron, announced on Monday that his country does not need Russian gas
while noting that other European countries depend on it
Macron also introduced new sanctions against the Russian Federation
and said he would discuss it with European leaders and the United States President Joe Biden, on Tuesday
A White House spokeswoman, Jen Psaki, said on Monday
that they were working in Washington to introduce new sanctions
against Russia in the forthcoming future plan to report details of the work
Earlier on Monday, US Deputy Secretary of the Treasury, Adeyemo
said that Washington is currently working on imposing further sanctions against Russia over violation of supply chains
In the meantime, the World Bank’s forecast for the global economy in 2022 fell to 3.2%
In January, global GDP growth was projected at 4.1%
The assessment of raising global gross domestic product (GDP) in 2021 rose to 5.7% from 5.6%, the highest in 80 years
artical name European orientation to dispense with Russian gas(Europe and Russian gas)
US indices decline
In the United States, stock indices fell on Monday by 0.02-0.14% following the announcement of corporate results
and continued growth in US government bonds (the 10-year Treasury yield from the United States increased
by 4 basis points, reaching 2.86% annually)
Investors remain concerned about rising inflation and the potential consequences of this for the US economy
In addition, they follow the actions taken by the Federal Reserve to deter consumer prices
US Treasury yields rose
The yield on the benchmark 10-year US Treasury note is currently 2.884%
It is the highest level in more than three years
Concern over inflation a hawkish Fed strongly pushed bond yields higher
However, the closely monitored yield curve does not see 2-year and
10-year yields inverted as the 10-year yield remains higher than the 2-year
artical name European orientation to dispense with Russian gas(Europe and Russian gas)
Oil moves in different directions
Oil prices were changed in multiple directions on Tuesday against the backdrop of a production cut in Libya
as well as signs from the Chinese authorities about readiness to support the country’s economy
Brent rose, while US crude declined
Libya’s oil production fell by more than 500 thousand barrels per day
and experts expect a further reduction in the country’s political protests
The cost of Brent crude futures for June delivery on the London Stock Exchange was $113.34 per barrel
$0.18 (0.16%) higher than the previous session’s closing prices
According to Monday’s trading results, these futures rose by $1.46 (1.3%), up to $113.16 per barrel
The price of US oil futures for May in electronic trading on the New York Mercantile Exchange
(NYMEX) was $108.11 per barrel, $0.1 (0.09%) higher than the final value of the previous session
Yesterday, the cost of these futures rose by $1.26 (1.2%) up to $108.21 per barrel
In the meantime, the authorities of the People’s Republic of China are preparing to take actions to quickly regain the strength of the economy after the recent lockdown
China’s central bank announced a number of measures designed to stimulate the volume of lending and individuals
artical name European orientation to dispense with Russian gas(Europe and Russian gas)
Gold and silver rise dramatically
Gold and silver prices rose dramatically and hit five-week highs in early US trading on Monday
and Gold futures for June last rose by $23.40 at $1,998.30
and silver in May Comex rose by $0.66 at $26.365 an ounce
Risk aversion remains high with the Russia-Ukraine war showing no signs of ending
anytime soon and the Covid surge in China that locked down major cities in the world’s second-largest economy
Stock traders also focus on corporate earnings reports
Negative trading in Japan
Japan’s stock market ended its session lower in relatively weak trading on Monday
The softer yen usually boosts Japanese export-oriented stocks but if the yen falls
the weak currency indicates a slowing economy
At the closing bell, the 225-issue Nikkei stock benchmark fell by 293.48 points, or 1.08%, to 26799.71
The broader Topix index for all Division I issues on the Tokyo Stock Exchange fell by 16.23 points
or 0.86%, to 1,880.08
Bank of Japan Governor Haruhiko Kuroda said on Monday that the recent devaluation of the yen
against the US dollar had been “very rapid,” while warning of the negative impact
the currency decline could have on the country’s fragile economic recovery
The remarks, made at a parliamentary session
came after the yen briefly fell to a 20-year low in the upper 126 range earlier in the day
Finance Minister, Shun’ichi Suzuki, also said in the session that the yen’s current weakness could be described as “bad”
with prices of materials not fully shifting to consumers and wage growth falling to the detriment of demand
The weak yen inflates the costs of importing goods and services to resource-poor Japan and puts pressure on households but also helps exporters by increasing profits abroad when repatriated
In the night news, China’s GDP grew in the first quarter by a better-than-expected 4.8%, year over year
That compares with a 4.0% increase in the fourth quarter of last year
and the consensus forecast for a 4.6% increase in the first quarter
However, on the downside, Chinese retail sales for March fell by 3.5% from the same period last year
The first two months of this year saw retail sales rise 6.7%, year-over-year
Home sales fell by 25.6% in the first quarter
artical name European orientation to dispense with Russian gas(Europe and Russian gas)