Other news

According to economists’ forecasts, the European Central Bank (ECB) will raise interest rates at least twice more in order to fight high inflation. One of these hikes will be taken as early as next week.

Chinese President Xi Jinping said during his visit to the kingdom that China is ready to increase the turnover of oil trade with Saudi Arabia. In this way, ties between the two countries have been strengthened.

Gasoline prices in the US are lower than they were a year ago. Lower fuel prices will provide a relief for Americans, who face the worst inflation in decades in 2022.

Australia is going to put a cap on domestic energy costs and spend around 1.5 billion Australian dollars ($1 billion) on energy bills. This decision is triggered by a surge in global commodity prices.

Throughout the past year, British renters have seen rents rise twice as fast as wages. At this point, there is no guarantee that rental price growth will slow down.

According to Goldman Sach’s Peter Oppenheimer, the market's optimistic forecast of peak inflation is unreliable.

Last week, the number of initial jobless claims in the United States increased by 4,000 to 230,000, coinciding with economists' forecasts. Meanwhile, the threshold value of 270,000 applications has not yet been reached. Crossing this mark will be a wake-up call for the labor market.

The COVID-19 outbreak caused a massive turmoil in the U.S. labor market. Some people were temporarily unemployed. Others left their jobs due to health issues or family circumstances. And more people chose to retire.

Deputy Governor Sharon Kozicki noted that they will be “data dependent” when it comes to further monetary policy decisions. At the same time, she didn’t take more significant rate hikes off the table.

At the beginning of Friday yuan reached a three-week-high. Investors hope for recovery and don’t pay attention to weak data because Chinese authorities remove anti-COVID restrictions.