U.S. Federal Reserve Chairman Jerome Powell will again be in the spotlight this week when he addresses Congress after the largest interest rate hike by the nation’s central bank since 1994. Powell’s comments and those of several other Fed officials due to speak this week will be closely watched as the market tries to gauge […]

The US dollar and euro are growing at the beginning of trading on the Moscow Exchange, while the ruble is getting cheaper against the bi-currency basket as part of the correction after strengthening in the previous days. Trading participants play off the situation on the oil market and continue to analyze the results of the […]

Economists have raised their forecasts for the probability of recession in the U.S. in the next year to 44%, Russia exported a record amount of oil to China – these and other important news for Monday morning, June 20, in our daily review. Analysts have raised their forecasts and now expect a recession in the […]

Potential deadlines for postponing some projects of Rosseti PJSC amid difficulties with equipment may reach a year, but there is no question of canceling them, the company’s head Andrei Ryumin told reporters on the sidelines of SPIEF. “All planned projects will be realized. There are no risks of disruption. But there is a probability of […]

The cryptocurrency meme Dogecoin has surged after Ilon Musk, CEO of Tesla (NASDAQ:TSLA) and SpaceX, expressed support for it, just days after a class action lawsuit was filed against him alleging he manipulated the price of Dogecoin. Both companies and Musk himself have been named as defendants in the suit, Yahoo writes. According to CoinMarketCap […]

Christopher Waller, a member of the Board of Governors of the Federal Reserve System (Fed), is ready to support a 75 basis points (bps) increase in the U.S. central bank’s benchmark interest rate at the July meeting if the situation in the U.S. economy meets his expectations. “The Fed is determined to bring back price […]

In May, China increased its imports of Russian-produced crude oil by a record 55% year-on-year (including shipments via the East Siberia-Pacific Ocean pipeline and sea transportation). As a result, Russia took the first place among all exporters of this fuel to China, displacing Saudi Arabia. This is reported by Reuters with reference to the data […]

The government and the Bank of Russia should prioritize economic growth, for which the optimal ruble exchange rate is important, First Deputy Prime Minister Andrei Belousov said in an interview with Interfax. According to him, the consensus opinion estimates the optimal ruble exchange rate for the economy at 70-80 rubles and it is necessary to […]

According to Nomura Holdings Inc. economists, the U.S. economy is likely to face a mild recession by the end of 2022 as the Federal Reserve raises rates to fight inflation, Bloomberg writes. Nomura analysts are confident: financial conditions in the U.S. will tighten further, consumer sentiment will worsen, energy and food supply disruptions as the […]

The State Duma Finance Committee has approved for adoption in the second reading amendments that allow banks with a basic license to temporarily, until December 31, 2023, to open bank (correspondent) accounts in foreign banks. Until December 31, 2023, the norm of the law on banking activity, according to which a bank with a basic […]

Swiss watch exports rose 13.6% in May 2022 compared to May 2021 to CHF 2.045 billion, data from the Federation of the Swiss Watch Industry showed. In April, growth was 7.3%. Ca Shipments of wristwatches, which account for the bulk of exports, rose 14.1% in May compared with May 2021 to 1.952 billion francs. Swiss […]

The U.S. economy will continue to grow through 2022 despite high inflation and rising interest rates, Federal Reserve Bank of St. Louis (FRB) Chairman James Ballard said. “In terms of GDP growth, I believe the indicators point to continued growth in the coming quarters,” Ballard said, speaking at an event in Barcelona, adding that based […]

Stock markets in the Asia-Pacific region (APR) are mostly rising in trading on Tuesday, with the exception of China’s Shanghai Composite. Meanwhile, the markets remain concerned about recession in the global economy. Investors fear that the efforts of the U.S. and European central banks to slow inflation, which is at a 40-year high, may become […]

The dollar exchange rate shows a moderate decline in the pair with the euro and the pound, weakly changing to the yen. Calculated by ICE index, showing the dynamics of the dollar against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona), decreases during morning trading by 0.29%. The broader WSJ […]

A draft law simplifying the procedure of obtaining land plots for lease for Russian farmers has been submitted to the State Duma, the Ministry of Agriculture reports following a meeting between Deputy Agriculture Minister Svetlana Khodneva and Deputy Speaker of the lower house of parliament Alexei Gordeev. The bill provides for the possibility of granting […]

A significant rise in sugar prices over the past four weeks has been noticed by 40% of Russians, according to the data of a survey by the Public Opinion Foundation (FOM), published on the official website of the sociological center. The results of the survey show that, according to 39% of Russians, meat and poultry […]

Last week, the Federal Reserve engaged in an aggressive round of policy tightening, raising the policy rate by 75 basis points (although just weeks before, Chairman Powell had openly stated that the Committee was not actively considering such a scenario). Apparently, they did so passively. The real yield on 5-year inflation-protected government bonds (TIPS) rose […]

Minister of Labor and Social Protection of the Russian Federation Anton Kotyakov has announced an increase in the number of the unemployed registered in employment centers. “In the Russian Federation there is an increase in the number of unemployed registered in employment centers,” Kotyakov said at an extended meeting of the Federation Council Committee on […]