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SYMBOL
LAST
BID
ASK
HIGH
LOW
NET CHG.
%CHG.
SPREAD
SPX
S&P 500 Index
6870.39
6870.39
6870.39
6895.79
6858.28
+13.27
+ 0.19%
--
DJI
Dow Jones Industrial Average
47954.98
47954.98
47954.98
48133.54
47871.51
+104.05
+ 0.22%
--
IXIC
NASDAQ Composite Index
23578.12
23578.12
23578.12
23680.03
23506.00
+72.99
+ 0.31%
--
USDX
US Dollar Index
98.910
98.990
98.910
98.960
98.730
-0.040
-0.04%
--
EURUSD
Euro / US Dollar
1.16511
1.16518
1.16511
1.16717
1.16341
+0.00085
+ 0.07%
--
GBPUSD
Pound Sterling / US Dollar
1.33174
1.33182
1.33174
1.33462
1.33136
-0.00138
-0.10%
--
XAUUSD
Gold / US Dollar
4212.23
4212.66
4212.23
4218.85
4190.61
+14.32
+ 0.34%
--
WTI
Light Sweet Crude Oil
59.186
59.216
59.186
60.084
59.181
-0.623
-1.04%
--

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Temasek CEO Dilhan Pillay: We Are Taking A Conservative Stance On Allocating Capital

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Brazil Economists See Brazilian Real At 5.40 Per Dollar By Year-End 2025 Versus 5.40 In Previous Estimate - Central Bank Poll

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Brazil Economists See Year-End 2026 Interest Rate Selic At 12.25% Versus 12.00% In Previous Estimate - Central Bank Poll

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Brazil Economists See Year-End 2025 Interest Rate Selic At 15.00% Versus 15.00% In Previous Estimate - Central Bank Poll

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EU Commission Says Meta Has Committed To Give EU Users Choice On Personalised Ads

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Sources Revealed That The Bank Of England Has Invited Employees To Voluntarily Apply For Layoffs

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The Bank Of England Plans To Cut Staff Due To Budget Pressures

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Traders Believe There Is Less Than A 10% Chance That The European Central Bank Will Cut Interest Rates By 25 Basis Points In 2026

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Egypt, European Bank For Reconstruction And Development Sign $100 Million Financing Agreement

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Israel Budget Deficit 4.5% Of GDP In November Over Past 12 Months Versus 4.9% Deficit In October

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JPMorgan - Council Chaired By Jamie Dimon Includes Jeff Bezos

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UK Government: UK Health Security Agency Identified New Recombinant Mpox Virus In England In Individual Who Had Recently Travelled To Asia

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European Central Bank Governing Council Member Kazimir: I See No Reason To Change Rates In The Coming Months, Definitely No In December

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European Central Bank Governing Council Member Kazimir: Overengineering Policy Around Small Inflation Deviations Would Introduce Unnecessary Policy Uncertainty

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European Central Bank Governing Council Member Kazimir: European Central Bank Must Be Vigilant About Some Upside Risks To Inflation

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European Central Bank Governing Council Member Kazimir: Forex Pass Through To Prices May Not Be As Strong As Expected

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Document: EU Looking At Options For Boosting Lebanon's Internal Security Forces

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Thai Foreign Ministry: Military Action Will Continue Until Thai Sovereignty, Territorial Integrity Secure

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Ukraine President Zelenskiy: No Accord So Far On Eastern Ukraine In US Talks

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NATO: Ukrainian President Zelenskiy Will Meet NATO's Rutte And EU Commission Chief Von Der Leyen And Costa In Brussels On Monday

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          Why FastBull Columns Page is Significant for Financial Investors?

          FastBull Events
          If you like to invest in financial markets, it is essential to understand various financial instruments. You should also know the advantages and disadvantages of investing in multiple markets, the risks involved in some investments, etc. You have to study various financial topics before putting your hard-earned money in financial markets. How can you learn about different financial issues and investment options? You can start reading reliable and reputed financial news websites to get more information on economic matters. In this article, let's look at the main attractions for financial investors from the Columns page of FastBull.
          Why FastBull Columns Page is Significant for Financial Investors?_1
          Recent Updates
          FastBull is a reliable source for investors keen to know more information on various financial topics across the world. The site has recently introduced two pages. Let's check those pages in detail.
          Sections Page
          FastBull's columns page provides you with information on various topics. When you visit the page, you can see Trending Topics and Popular Articles. Under Trending Topics, you can read articles on topics related to The Fed, Interest Rate Resolution, Opec, ASEAN Opportunities, Middle East News, Nonfarm Payrolls, Remarks of Officials, Daily News, Global Inflation, Covid-19 Pandemic, etc. The significance of this page is that you can get detailed information on various topics. For example, if you are interested in following the fuel price-related developments and news, you can visit the Opec and read multiple articles related to petrol, diesel etc. If you have plans to invest in oil-related trade, this particular topic will be of great interest to you.
          Similarly, let's say that you are interested in investing in ASEAN. In that case, the articles under the ASEAN sub-section will help you understand the various developments in ASEAN nations and the opportunities available in those countries. And if you want to know which are the major news of the day, you can read the articles under the Daily News sub-section. In short, if you have an interest in investing in financial markets, FastBull can provide the exact details that you are keen to know. Similarly, the columns page also features the Popular Article sub-section prominently on the right-hand side of the page. Some of the top stories in this section are: 'Prospects for Rare Earth Elements Trade Between India and Australia' and 'Impact of Russia-Ukraine Conflict on Fies in China'. It also has another sub-section that provides the list of Top Authors. You can read articles from some top experts, including Samantha Luan, Winkelmann, Eva Chen, Thomas, Kar Young, Devin Wang and Damon.
          Why FastBull Columns Page is Significant for Financial Investors?_2
          Trading Analysis
          Another prominent feature of FastBull is its Trading Analysis page. Let's check some of the latest articles in this section. The article 'ETHUSDT: Market Risk Appetite Declines, and Ethereum Faces Consolidation Risks in the Short Term will give you a detailed analysis and prospectus of Ethereum. So, if you have plans to invest in Ethereum, it's a must-read article. Another article, 'USDX: Risk Aversion Fades without Damaging the Dollar's Rally', talks about the prospects of the Dollar. If you are a forex investor, this particular article will give more insights into forex trading. Another story on the website is: 'USDCAD: Russia-Ukraine Negotiation Outlook Improves, Oil Price Plunge Is Bad for CAD'. When you read this story, you can understand the effect of the war situation between Russia and Ukraine and how it would affect the prospects of CAD. If you have plans to buy CAD from the forex market, the story gives you a perspective of the currency's potential in the short term. So, when you are reading such articles, you will get an idea of several factors that could affect the performance of financial markets. Some of the experts in financial matters write various articles in this section. You will also have the option to read the top weekly and monthly articles based on their rankings. That way, you can ensure that you haven't missed out on some essential financial reports and their analysis.
          Why FastBull Columns Page is Significant for Financial Investors?_3
          Investor Benefits
          When you go through the sections mentioned above of FastBull, you will realize that the page has many informative articles and topics on various financial matters. It is essential to update yourself with the latest financial market developments to get the upper hand in your trading business.
          New Feature
          To provide authentic information quickly to investors, the FastBull team looks to introduce new features regularly. We plan to introduce a new feature for investors shortly. It's about a free trading strategy for investors. Those looking to start their career as an investor in financial markets find it difficult to go ahead without a proper plan and guidance. The new feature from FastBull will give valuable tips to new investors. When the financial experts take money for providing information related to investment, FastBull plans to offer this feature for free.
          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
          Comments
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          Dubai: World Government Summit to Shape Future, Set Agenda for Next Decade

          Devin
          As the world strives to recover from the Covid-19 pandemic and works to achieve international commitments to sustainable development and climate neutrality, the World Government Summit 2022 (WGS2022) will convene in Dubai.
          Since its inception nearly a decade ago, the summit, which will be held under the theme 'Shaping Future Governments', has dedicated its platform to shaping the future, anticipating opportunities and setting the agenda for future governments.
          The summit will take place at Expo 2020 Dubai from March 29-30, coinciding with the final days of the world fair.
          This year, the summit sets the agenda for the next governmental decade by harnessing technology, digital transformation and functioning as the stage for analysis of future trends, concerns and opportunities facing humanity.
          The summit will draw the participation of high-level government officials, senior representatives of international organisations, private sector leaders, thinkers, opinion makers, futurists and experts from around the world.
          Across more than 110 interactive sessions and panels, an elite group of speakers will shed light on key global challenges and ways to improve government performance and to prepare for and deal with sudden changes. The platform will also explore the future of science, technology, health, and other sectors, and their roles in building a sustainable future for the next generations.
          The world is counting on the recommendations of WGS2022, the largest global gathering since the outbreak of the pandemic, to draw a roadmap for governments in the post-pandemic era. Through its sessions, themes, forums, and knowledge reports, the summit will examine a wide range of urgent issues facing humanity and highlight the latest trends shaping future governments. Its activities will focus on envisioning a future in which people enjoy higher levels of well-being, good health, first-rate education, and enriching experiences.
          WGS2022 will host more than 4,000 participants from 190 countries. The selection of themes, sessions, and events for this year's edition reflects the keenness to create future opportunities and assist governments worldwide, which have borne the brunt of Covid-19, in accelerating the post-pandemic recovery.
          In line with its mission of improving people's lives through enhancing government work, the summit will present an innovative way of boosting governments' readiness for the future, based on human capacity for foresight and proactivity, and leveraging advanced technology to rapidly respond to changes, overcome challenges, and adapt to unexpected events.

          Source: Khaleej Times

          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
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          The Bank of Japan's Intervention Has Driven the Recent Yen Blowout to A New Multi-Year High

          Devin
          The USD/JPY pair caught aggressive bids on Monday and reclaimed the 123.00 round-figure mark for the first time since December 2015 during the Asian session. The Japanese yen weakened across the board after the Bank of Japan (BoJ) steeped into the markets for the second time this year to arrest the continuous rise in yields. In fact, the BoJ offered to buy unlimited amounts of 10-year Japanese government bonds (JGBs) to protect the 0.25% tolerance ceiling under its yield curve control policy.
          Conversely, the yield on the benchmark 10-year US government bond shot to a fresh two-year peak, further beyond the 2.5% threshold in the wake of hawkish Fed expectations. Investors seem convinced that the Fed would adopt a more aggressive policy stance to combat stubbornly high inflation. Moreover, the markets have been pricing in a 50 bps Fed rate hike move in the May meeting amid worries that surging commodity prices would put upward pressure on the already high consumer prices.
          This resulted in the further widening of the US-Japanese bond yield spread, which was seen as another factor that contributed to driving flows away from the JPY. This, along with sustained US dollar buying, provided an additional boost to the major. Meanwhile, the strong momentum took along some short-term trading stops around the 122.40-122.45 region. A subsequent strength beyond the 123.00 round-figure mark might have already set the stage for additional gains, though extremely overbought conditions on short-term charts warrant some caution for bulls amid the cautious market mood.
          Against the backdrop of the lack of progress in the Russia-Ukraine peace negotiations, fresh coronavirus-induced lockdown in China tempered investors' appetite for perceived riskier assets. This was evident from a generally softer tone around the equity markets, which tends to benefit the safe-haven JPY. Nevertheless, the pair remains on track to prolong its recent strong bullish trajectory witnessed over the past three weeks or so. In the absence of any major market-moving economic releases, traders will take cues from bond yield dynamics and the broader market risk sentiment.

          Technical outlook

          From a technical perspective, RSI (14) on the daily chart is flashing extremely overstretched conditions and makes it prudent to wait for some near-term consolidation or modest pullback before positioning for any further gains. This comes on the back of the recent blowout rally of over 950 pips from the monthly low and suggests that bulls could pause near the December 2015 high, around the 123.65 region. That said, some follow-through buying beyond the 123.75 area, or November 2015 peak would set the stage for a move towards reclaiming the 124.00 round-figure mark.
          The Bank of Japan's Intervention Has Driven the Recent Yen Blowout to A New Multi-Year High_1On the flip side, any meaningful slide below the 123.00 mark now seems to find decent support and remain limited near the 122.45-122.40 region. The next relevant support is pegged near the 122.00 round figure, which if broken decisively could trigger some long-unwinding trade. The pair might then accelerate the corrective fall towards the 121.10-121.00 round-figure mark.

          Source: FX Street. Author: Haresh Menghani.

          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
          Comments
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          Upward Pressure on Rates

          Owen Li
          Retail sales for February are released in Norway. Big power bills and a shift towards consumption of services following the reopening of the economy mean that retail sales probably fell in February and we predict a decrease of 0.5% m/m.
          Later this week the euro area HICP inflation figures (Thursday), Chinese PMIs (Thursday) and the US jobs report for March (Friday) will be in focus. We will also look out for more hawkish Fed comments after consensus seems to be building for a 50bp hike in May.

          Overview

          The oil price has declined this morning as Shanghai begins a lockdown due to Covid-19. The decline is due to the expected demand disruptions given the importance of Shanghai for the Chinese economy.
          However, US Treasuries are under pressure due the rise in inflation and broke through the 2.5% limit given the increased risk of a 50bp tightening from the Federal Reserve at the next meeting. Furthermore, the gap between 5Y and 30Y US Treasuries is very close to being inverted for the first time since 2006.
          The rise in 10Y Japanese government bond yields above 20bp has prompted intervention from the Bank of Japan. They stated that they will purchase an unlimited amount of 10Y bonds as yields rose towards 0.25%.
          Ukraine and Russia are expected to continue peace talks on Monday in Turkey. Russia expects to open the stock exchange for all equities today.
          We have a speech by ECB's Rehn today and the markets will be looking for comments on the policy outlook. There is also a speech by BoE's Baily.

          Equities

          Global equities ended higher Friday lifted by US stocks as all other regions ended lower. Bond yieldw once again the main focus and the new narrative in equities is the TINA 2.0 phenomena where there is no alternative to high inflation and high growth forcing investors back into equities although yields are rising extremely fast. Value stocks outperforming led by energy, banks and insurance.
          Looking at the bond market last week one may have thought that value would have outperformed growth by a huge margin. However, as investors are coming back into equities after a correction, we see the typical pattern of rebound to some the stocks that were beaten the most in the sell-off.
          In US on Friday, Dow +0.4%, S&P 500 +0.5%, Nasdaq -0.2% and Russell 2000 +0.1%. Asian markets are mixed this morning with Japan lower while China (Hang Seng) is higher. European futures are catching up to the strong US cash close on Friday while US futures are slightly lower.

          FI

          Last week ended with another solid rise in global bond yields as 10y US Treasuries rose almost 30bp during the week, while the Bunds rose by 20bp. Furthermore, the US Treasury curve flattened between 10y and 30y, but unchanged between 2y and 10y. We see the same picture in Euroland with the German yield curve and EUR swap curve as the stagflationary scenario looms. However, if we look at country spreads such as the BTPS-Bund spread then this remains remarkably stable and even the Bund ASW-spread is tightening and only grinding tighter at a slow pace.

          FX

          EUR/USD fell back below 1.10 in late trading Friday and EUR/GBP followed EUR/USD lower and is now trading closer to 0.83. Also EUR/NOK moved lower to 9.45 while EUR/SEK was basically unchanged on Friday. Oil is still trading around USD120/barrel.

          Credit

          Credit markets performed well on Friday, with both CDS indices and cash bonds tightening moderately. iTraxx Xover tightened 3.8bp and Main 0.1bp. HY bonds closed almost 3bp tighter and IG 1-2bp.

          Source:FX Street.

          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
          Comments
          Add to Favorites
          Share

          UAE, Kuwait to Establish Virtual Trade Corridor

          Devin
          AD Ports Group today announced the signing of a Memorandum of Understand (MoU) with the Kuwait General Administration of Customs to establish a new virtual trade corridor between the UAE and Kuwait, under the supervision of Department of Economic Development – Abu Dhabi (ADDED).
          The signing took place in Kuwait following a visit by DED's Logistics Committee, under the patronage of Abdulwahab Al Rushaid, Minister of Finance and Minister of State for Economic Affairs and Investments - Kuwait and in presence of Dr. Matar Hamed Al Neyadi, UAE Ambassador to Kuwait. The MoU was signed by Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, and Suleiman Abdul Aziz Al Fahd, Director of the General Administration of Customs - Kuwait.
          Under the MoU, Maqta Gateway, AD Ports Group's digital arm, will develop the new virtual trade corridor based upon its Advanced Trade & Logistics Platform (ATLP), under the supervision of ADDED, establishing new policies, procedures and systems integrations to support a virtual trade corridor that will further simplify and facilitate cross-border trade.
          With the establishment of the new virtual trade corridor and implementation of integrated solutions, customs authorities in both countries will be able to access pre-arrival information for international cargo movements, making cross-validation of information significantly faster and promoting pre-clearance of goods.
          The MoU will also provide for accelerated procedures for expediting shipments of perishable goods, reducing dwell time at borders.
          The digital integration also has significant safety and security benefits, improving visibility for authorities over any possible risks associated with goods that move between the two nations, as well as reducing the inspection rate and simplifying procedures for authorisation holders.
          Dr. Al Neyadi said, "The UAE and Kuwait have a vast cooperation opportunity as they both have exceptionally promising markets. We are confident that the cooperation between AD Ports Group and Kuwait General Administration of Customs to establish the first virtual trade corridor between the UAE and Kuwait, will enhance trade exchange between the two countries, and will support their efforts in achieving digital transformation goals, streamlining shipping procedures to reduce transportation and shipping costs, as well as expanding economic cooperation, facilitating the development of the supply chains, and encouraging business investment, by building on the best digital solutions and logistics services provided by the virtual trade corridor."
          Rashid Abdul Karim Al Balooshi, ADDED Under-Secretary and Chairman of the Higher Committee of Logistics Development, said, "This MoU sets the stage for deeper cooperation with our trade partners. By establishing this virtual trade corridor, we will generate positive impact on the UAE and Kuwaiti economies and support the wider efforts of our wise leadership to promote trade and fraternal bonds between our nations, establishing Abu Dhabi as a leading trade and logistics hub in the region."
          For his part, Al Fahd said, "We are pleased to sign the MoU with AD Ports Group, which comes within the framework of our strategic plan to develop the capabilities of the customs ecosystem in Kuwait with the aim of facilitating business, reducing manual reviews for completion of administrative and customs procedures, and facilitating the trade community in both countries through an agreement that benefits from the advantages of Global Logistics Passport."
          Dr. Noura Al Dhaheri, CEO of Maqta Gateway, Head of the Digital Cluster, AD Ports Group, said, "The newly announced virtual trade corridor aims to realise a host of enhanced policies, procedures, and system integrations that will accelerate cross-border movements of goods traded between the two countries.
          "Since its founding, Maqta Gateway has committed its efforts towards advancing the digitalisation of the region's trade, logistics, and industrial landscape through the implementation of novel solutions that are transforming industry.
          "By digitalising clearance and shipment delivery through this virtual trade corridor, we will be able to deliver real benefits for importers and exporters in Kuwait and the UAE, while simultaneously enhancing security and realising new levels of efficiency."
          The long-standing bilateral trade ties enjoyed between the two GCC countries in recent years has seen the rapid growth of several key commodity markets. In 2021, the UAE imported more than two million tonnes of petroleum oil products valued at an estimated AED3.79 billion from Kuwait, as well as 143,408 tonnes of petroleum coke and tar valued at AED213 million.
          During the same period, the State of Kuwait imported over 18.94 million tonnes of pebbles and stones for use in construction from Abu Dhabi, valued at AED650 million. It also imported 16 and 18 tonnes of gold and jewellery that were valued at AED3.16 billion and AED2.8 billion, respectively.

          Source: WAM.

          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
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          The True Price of Attacking Saudi Oil Facilities

          Devin
          When drones attacked oil production facilities in Abqaiq, eastern Saudi Arabia, on Sept. 14, 2019, Japan was quick to condemn — and actually was the first to call it what it was: A terrorist attack.
          I remember this very well, because both Taro Kono, the Japanese defense minister at the time, and I were participating in the annual G1 Global Conference (aka "Davos of Tokyo") and I took the opportunity to ask the question.
          "The most pessimistic scenario right now is that something happens in the Strait of Hormuz and the oil supply gets cut down, and that would send a shockwave through the global economy. I think the price of oil is already rising after this attack on Saudi facilities, so that's the most worrying scenario right now," he added.
          Kono, of course, is a veteran Japanese politician, a former foreign minister and is currently minister of administrative and regulatory reform. Japan is a net importer of energy, with Saudi Arabia supplying nearly 40 percent of its needs. Naturally, the topic of the Abqaiq attacks dominated the conference and the Japanese headlines for days to come — as one would expect in a country which risked losing nearly half of its energy supply if such a threat persisted.
          Fast forward nearly two years and a half to Friday's drone attacks on the Aramco facilities in my hometown of Jeddah. I couldn't help but compare Kono's nuanced, farsighted and accurately worded comments to the weak, bland and nearly pointless statement issued by Anthony Blinken, the current US secretary of state.
          While on one hand, the chief US diplomat must be applauded for finally describing the Houthi actions as "terrorist attacks," and for recognizing that Saudi oil production facilities clearly classify as "civilian infrastructure," there still remains a very simple — albeit Voltairian sounding — question to be answered by his administration.
          Who apart from terrorists commit terrorist attacks, Mr. Blinken? So, why in God's good name, is the US administration still not re-listing the Houthis as a terror organization?
          By the way, readers might think that I am beginning to sound like a broken record in my columns by repeatedly calling for holding the Houthis accountable. This is true, and it is true because, like many around the globe, we in this country expect America, as leaders of the free world, to do the right thing and not because we are dependent on American protection — imagine, if we were. Just look at Ukraine!
          Those reading these words in the US should know that thanks to our brave troops at the border and our civil defense officers at the fire site, life returned to normal shortly after Friday's attacks in Jeddah, where a Formula 1 race continued as planned this weekend.
          The bad news, however, is that they — US readers and others around the world — are the ones who will feel the pinch the most as oil prices worldwide are expected to continue to rise because of supply concerns. Exactly as former Japanese defense minister Kono warned it would.
          A few days ago, Saudi Arabia made an announcement saying that it could not be held responsible for any oil supply issues resulting from Houthi attacks on its facilities. Of course, ever since its first international shipment of oil in 1939, the Kingdom has continued to be a reliable supplier for its clients around the world. Even when the Abqaiq attacks occurred in 2019, we managed to restore our oil production capacity in record time — and earlier than expected.
          However, the Kingdom cannot — and must not — be left alone to safeguard global energy supplies at a time when the entire world is unanimously hurting from price hikes which have been further sparked by the uncertainty due to the situation in Ukraine.
          As Ukraine continues to battle the Russian army, President Volodymyr Zelensky appeared in a video and addressed Qatar's Doha Forum on Saturday. Interestingly, he urged an increase in the output of energy. "I ask you to increase the output of energy to ensure that everyone in Russia understands that no one can use energy as a weapon to blackmail the world," Zelensky told the Doha Forum.
          Of course, no matter how much energy output is increased, markets will not be able to rest assured so long as production facilities are targeted and shipments threatened by Iran and its goons.
          This is an international issue that impacts almost every household around the globe. Saudi Arabia, therefore, deserves all the support it can get. Maximum pressure — and not maximum appeasement— must be put on the Houthis and their backers in Tehran to ensure that messing about with global energy security, let alone deliberately targeting civilians, does not go unpunished. In layman's terms: Reducing energy bills will require an increased global involvement. It is as simple as that.

          Source: ARAB News.

          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
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          Asia Shares and Oil Slip, Yen Sinks as Bank of Japan Stays Super-Loose

          Devin
          Asian shares and oil prices both slid on Monday as coronavirus lockdown in Shanghai, China, looked set to hit global activity, while the yen extended its stomach-churning descent as the Bank of Japan acted to keep local yields near zero.
          China's financial hub of 26 million people told all firms to suspend manufacturing or have people work remotely in a two-stage lockdown over nine days.
          The spread of restrictions in the world's biggest oil importer saw Brent skid US$3.26 to $117.39, while US crude fell $3.37 to $110.53.
          Risk sentiment was helped by hopes of progress in Russian-Ukranian peace talks to be held in Turkey this week after President Volodymyr Zelenskiy said Ukraine was prepared to discuss adopting a neutral status as part of a deal.
          Early action on Monday was muted with MSCI's broadest index of Asia-Pacific shares outside Japan off 0.8 percent. The index is down 3 percent for the month but well above recent lows.
          Chinese blue chips shed 0.8 percent. Japan's Nikkei lost 0.4 percent but is still almost 6 percent firmer for the month as a sinking yen promised to boost exporter earnings.
          S&P 500 stock futures eased 0.3 percent, while Nasdaq futures slipped 0.4 percent. EUROSTOXX 50 futures and FTSE futures both held steady for the moment.
          Wall Street has so far proved remarkably resilient to a radically more hawkish Federal Reserve. Markets are pricing in eight hikes for the remaining six policy meetings this year, taking the funds rate to 2.50-2.75 percent.
          Even that outlook is not aggressive enough for some. Citi last week forecast 275 basis points of tightening this year including half-point hikes in May, June, July and September.
          "We expect the Fed to continue hiking into 2023, reaching a policy rate target range of 3.5-3.75 percent," wrote the analysts at Citi. "Risks to the terminal policy rate remain to the upside given the upside risk to inflation."
          The key data event of this week will be US payrolls on Friday when another solid increase of 475,000 is expected with the jobless rate hitting a new post-pandemic low of 3.7 percent. Also due are a bevy of surveys on global manufacturing and readings on US and EU inflation.
          "The US data will help shape expectations whether the tightening in financial conditions is starting to spill into the broader economy," said analysts at NatWest Markets.
          Yields on 10-year Treasuries jumped 33 basis points last week and are up a staggering 67 basis points on the month at 2.49 percent, sharply lifting US mortgage rates.
          "The next major theme will be rising fears of a recession as the Fed hikes into decelerating growth, potentially supporting a peak in yields into this summer," cautioned NatWest.
          In currency markets, the Japanese yen has been the major loser as policymakers there keep yields near zero and sky-high commodity prices send its import bill ballooning.
          The Bank of Japan on Monday reinforced its super-loose policy by offering to buy as many bonds as needed to keep 10-year yields under 0.25 percent.
          That saw the dollar scale a fresh six-year peak of 123.03 yen, giving it a gain of 6.9 percent for the month. Likewise, the resource-rich Australian dollar has climbed more than 10 percent to reach 92.44 yen.
          Even the otherwise ailing euro is up 4 percent on the yen this month at 134.56. The single currency has lost about 2.3 percent on the dollar in the same period, but at $1.0956 is above the recent two-year trough of $1.0804.
          The dive in the yen has kept the US dollar index up at 99.098, with a gain for the month of 2.5 percent.
          In commodity markets, gold softened to $1,947 an ounce, though it was still up around 2 percent on the month.

          Source: The Jakarta Post.

          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
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