Will oil prices hike to higher place this month? in this momentum
West Texas Intermediate and Brent crude futures have increased 25% since late June, despite output cuts by Saudi Arabia and Russia. Wall Street analysts predict $100 oil if momentum continues. The Federal Reserve hiked interest rates for the 11th time since March 2022, hinting at two more hikes for the year. Goldman Sachs has lowered…
Oil hiking Prices will lead to increased prices on various products
Oil prices are increasing, making it harder for the Federal Reserve to achieve its 2% inflation objective. Economists worry that rising energy prices could increase input costs for products and services, leading to increased prices on various products. The Consumer Price Index report for August is expected to show a 0.5% increase in prices, while…
The Goldman Sachs will reduces staff who are underperformers
Goldman Sachs may rescind underperformers in late October, according to sources. The bank is aiming for a lower number of layoffs in its core investment banking and trading operations than the 1% to 5% range. The bank slashed 500 staff in September 2022. Goldman’s senior executives are reducing costs by eliminating smaller line items and…
Saudi Arabia and Russia’s joint declaration making oil deficit on final quarter this summer
The global economy is fragile, and a further inflationary increase could undermine central banks’ intentions to slow interest-rate hikes. The summer’s fuel price spike gives Russia more money for its Ukraine war and Saudi Arabia more money for investment. The Paris-based IEA predicted a fourth-quarter supply shortage of slightly over 1 million barrels a day,…
Oil Prices has rise to the top “again” this years
Crude prices are soaring as OPEC+’s main players focus on limiting supplies. Saudi Arabia’s 1 million barrel-a-day output cut and Russian export decrease are causing concerns for consumers. The supply imbalance is predicted to be 2.7 million barrels a day in the fourth quarter. The West’s ally Riyadh and Moscow are united in their quest…
US bank profits and deposits were stable in the second quarter
The Federal Deposit Insurance Corporation reported stable US bank profits and deposits in Q2, indicating a decrease in sector volatility. However, regulators are still monitoring unrealized losses. The sector experienced a 11.3% drop in profits due to the failure of Silicon Valley Bank and two other significant lenders. Deposits fell for the fifth consecutive quarter,…
The Fed interest rates possibly hike on this November meeting
The US Federal Reserve’s expectations of raising interest rates have increased due to stronger-than-expected economic statistics and rising oil prices. The surge in the US services sector and oil prices have raised concerns about energy costs and inflation, leading to increased bond yields. The probability of raising rate in November meeting is increase by 3.3%.
The Dollar lost its power after a racing weeks
The dollar experienced a record weekly gain on Fed rate bets, but bonds and stocks increased. The Dollar Spot Index declined, while the S&P 500 rose, but the Nasdaq 100 outperformed due to Tesla and Apple rallies. A pullback is imminent, with severe sentiment for the greenback and short-term traders advised to avoid dollar long…