Other news

December’s data showed that business activity in France contracted faster than in the previous month. These factors reinforce signs of an impending recession in the eurozone's second-largest economy, as high inflation puts a strain on business activity.

The growth rate of the U.S. dollar has been driven by the pace and size of interest rate increases. According to economists at ANZ Bank, the dominance of the U.S. dollar is coming to an end.

Bundesbank warned of tough times for the German economy through the middle of next year. German businesses and households will have to struggle to pay high energy bills, and it will take a while before Germany sees a recovery.

The Norges Bank raised its interest rate by 25 basis points Thursday, just as Bloomberg analysts forecasted. Thus, the current rate is 2.75%, the highest since February 2009.

The European Central Bank's (ECB) warning that sharp rate hikes are not over is raising the stakes about the start of the recession.

Consumer price inflation will probably renew its forty-year maximum, raising above its previous record highs. According to a poll conducted by Reuters, the situation is reflected by how intensively companies pass the increased costs of energy, food and raw materials on consumers.

The Canadian dollar fell markedly against the stronger U.S. currency on Thursday. A flurry of interest rate hikes has affected sentiment and the Canadian real estate market keeps on weakening.

U.S. gas futures resumed hitting a local high of $7 per million British thermal units. The rise came on the back of a sharp weekly drop in gas inventories amid worsening weather conditions.

Chinese authorities suddenly ended the zero-COVID policy, and it forced economists to sharply change their growth forecasts for the current and next year.

China's economy is expected to revive after providing support for recovery caused by the unfavorable external environment and the loss of momentum in the global economy.