Author: Steven Sahiounie

The Central Bank said on June 13 that it would fix official dollar and euro rates against the ruble on the basis of reports of banks on results of transactions in the over-the-counter currency market

“Inflation in the consumer market decelerated to 0.08% over the week from July 23 to 29, 2024,” the ministry informed

The ruble-denominated MOEX Russia Index edged down by 2.42% to 2,828.72 points. The dollar-denominated RTS Index lost 1.56% to 1,049.01 points. The yuan gained 0.067% to 11.82 rubles over the day. Global markets plunged deep into the red zone. “The main reason is heightened concerns of the US economy slipping to recession before the start of monetary policy easing by the Fed. The US regulator gave a signal to interest rates lowering next month, while the latest macro data, particularly the July labor market report, turned out to be notably weaker than forecasts,” Alexander Bakhtin from BCS Investment World commented.…

The market for new passenger cars in the past 7 months grew by 69% year-on-year and amounted to 848,300 vehicles, the market for light commercial vehicles increased by 41% to 71,900

The response of the US Federal Reserve and possible rate lowering by it, the situation with financial and economic stimulation in China, and the OPEC+ response will drive prices further, Dmitry Skryabin believes

“This is very clearly seen according to results of our friendship, communications with ambassadors of countries of the Commonwealth of Independent States and representatives of the Global South,” Anatoly Antonov noted

For financial markets, the key question hanging over the Federal Reserve’s expected policy easing increasingly revolves around the size of interest rate cuts and less on their timing. The prospect that the U.S. central bank would start reducing borrowing costs in September has been a solid bet for weeks, and Fed Chair Jerome Powell was not shy at his post-meeting press conference on Wednesday in saying that a cut could come at next month’s meeting, as long as economic data between now and then leans that way. The first big dose of that data arrives on Friday, when U.S. central…

Turkish exports reached USD 22.5 billion in July 2024, an increase of 13.8% compared to July, 2023, Minister of Trade Omer Bolat said

Growth in euro zone business activity stalled as expansion in the bloc’s dominant services industry was compounded by a deeper downturn

A sharp repricing in U.S. interest rate cut expectations could give more fuel to a searing bond rally triggered by weakening economic data