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The words of US President Joe Biden yesterday helped to revive Wall Street and today also Asia. Biden, Reuters reported, said it was considering raising tariffs on Chinese goods that have been in place since the Trump era to fight inflation and thereby help the US Federal Reserve. At 7:10 Italian time, the Nikkei is above par (+ 0.3%), Hang Seng rises 1.9%, Shanghai 2%, while gold falls 0.2% to $ 1,837. The ounce and the US WTI oil return to raise its head by 2.3% to $ 102.08 per barrel. barrel. The euro rose by 0.12% to 1.0545, the yen by 0.06% to 130.38, the pound by 0.16% to 1.2333, while the T-bond yielded below 3% (2.98%) and futures on Wall Street are, on average, positive at 0.3%. except for Nasdaq (+ 0.8%). China’s annual inflation rate accelerated to 2.1% in April 2022 from 1.5% in March, above the market forecast of 1.8%. It is the highest reading since November last year, among the logistical disruptions caused by the strict Covid-zero measures. Food prices have risen for the first time in five months, while the price of non-food products has risen. China has set a target (CPI) of around 3% for this year, the same as in 2021. China’s producer price inflation fell to a 12-month low of 8.0% year-on-year. again in April from the previous 8.3%, but higher than the market consensus of 7.7%. This is the sixteenth month in a row with price increases amid government measures to stabilize the flare-up of commodities. Futures on WTI crude oil rose more than 1%, topping $ 101 per share. barrel today after losing 9% in the previous two sessions as supply-side challenges resurfaced as the EU works to get support for the Russian oil embargo, while major producers have warned they may not be able to to meet demand without further investment, as they have not been made in recent years due to the world’s fossil fuel program’s first fossils and pollutants in favor of energy conversion. Analysts wrote that the impact of the embargo could be limited if the ban was eased, but prices could still rise. Yesterday, UAE Energy Minister Suhail al-Mazrouei warned that once the demand for fuel recovers from the pandemic, OPEC + may not be able to meet demand without further investment. These words follow up on remarks by the Saudi Minister of Energy that the world should be aware not only of the scarce supply of crude oil, but of the energy capacity that is running out in general. US stock futures are rising positively today as investors scrutinize the upcoming Inflation Report for new insights into the likely direction of monetary policy. In a very volatile session, the Dow fell 0.26% for the fourth day in a row yesterday, while the S&P 500 and Nasdaq Composite rose 0.25% and 0.95% respectively. The mega-cap technology names outperformed the market with strong advances from Apple (1.6%), Microsoft (1.9%) and Alphabet (1.7%). Analysts wrote that inflation may have peaked. In its latest report on financial stability, the Federal Reserve explained that “further negative surprises on cost of living and interest rates, especially if accompanied by a decline in economic activity, could adversely affect the financial system.” (All rights reserved)

The words of US President Joe Biden yesterday helped to revive Wall Street and today also Asia. Biden, Reuters reported, said it was considering raising tariffs on Chinese goods that have been in place since the Trump era to fight inflation and thereby help the US Federal Reserve. At 7:10 Italian time, the Nikkei is above par (+ 0.3%), Hang Seng rises 1.9%, Shanghai 2%, while gold falls 0.2% to $ 1,837. The ounce and the US WTI oil return to raise its head by 2.3% to $ 102.08 per barrel. barrel. The euro rose by 0.12% to 1.0545, the yen by 0.06% to 130.38, the pound by 0.16% to 1.2333, while the T-bond yielded below 3% (2.98%) and futures on Wall Street are, on average, positive at 0.3%. except for Nasdaq (+ 0.8%). China’s annual inflation rate accelerated to 2.1% in April 2022 from 1.5% in March, above the market forecast of 1.8%. It is the highest reading since November last year, among the logistical disruptions caused by the strict Covid-zero measures. Food prices have risen for the first time in five months, while the price of non-food products has risen. China has set a target (CPI) of around 3% for this year, the same as in 2021. China’s producer price inflation fell to a 12-month low of 8.0% year-on-year. again in April from the previous 8.3%, but higher than the market consensus of 7.7%. This is the sixteenth month in a row with price increases amid government measures to stabilize the flare-up of commodities. Futures on WTI crude oil rose more than 1%, topping $ 101 per share. barrel today after losing 9% in the previous two sessions as supply-side challenges resurfaced as the EU works to get support for the Russian oil embargo, while major producers have warned they may not be able to to meet demand without further investment, as they have not been made in recent years due to the world’s fossil fuel program’s first fossils and pollutants in favor of energy conversion. Analysts wrote that the impact of the embargo could be limited if the ban was eased, but prices could still rise. Yesterday, UAE Energy Minister Suhail al-Mazrouei warned that once the demand for fuel recovers from the pandemic, OPEC + may not be able to meet demand without further investment. These words follow up on remarks by the Saudi Minister of Energy that the world should be aware not only of the scarce supply of crude oil, but of the energy capacity that is running out in general. US stock futures are rising positively today as investors scrutinize the upcoming Inflation Report for new insights into the likely direction of monetary policy. In a very volatile session, the Dow fell 0.26% for the fourth day in a row yesterday, while the S&P 500 and Nasdaq Composite rose 0.25% and 0.95% respectively. The mega-cap technology names outperformed the market with strong advances from Apple (1.6%), Microsoft (1.9%) and Alphabet (1.7%). Analysts wrote that inflation may have peaked. In its latest report on financial stability, the Federal Reserve explained that “further negative surprises on cost of living and interest rates, especially if accompanied by a decline in economic activity, could adversely affect the financial system.” (All rights reserved)


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