Source: OPEC+ OPEC+ projects an average of 99.13 million barrels per day of oil demand in the first quarter of 2022, an increase of 1.11 million bpd from the November forecast. CL1! is down -0.87%. The oil cartel, which kept the full-year demand forecast steady, expects the impacts of Omicron to be mild as global citizens get used to handling the pandemic … [Read more...] about OPEC+ Raises Oil Demand Forecast by 1.11M bpd in Q1 2022 Amid Omicron Concern
Forex News
Consumer Sentiment Posts Slight Gain in December
Source: University of Michigan Consumer sentiment posted a slight gain from the previous month in December, but a double-digit decline from the same month last year. The Index of Consumer Sentiment stood at 70.4 in December, up 4.5% from the 67.4 in November but down 12.8% from 80.7 the same month last year.The Current Economic Conditions index climbed 1.4% to 74.6% from … [Read more...] about Consumer Sentiment Posts Slight Gain in December
UK GDP Economy Nearly Flat-Lined, Rising by 0.1% in October
Source: Office for National Statistics A slower 0.1% increase in UK GDP in October, signaling that the economy had flattened even before the Omicron COVID-19 variant. FTSE 100 down -0.040%, GBP USD down -0.11% Gross domestic product increased by a weaker than expected 0.1%, slowing significantly from monthly growth of 0.6% in September.That showed the economy remained … [Read more...] about UK GDP Economy Nearly Flat-Lined, Rising by 0.1% in October
Wholesale Inventory Sales Growth Picks Up in October
Source: US Census Bureau American seasonally adjusted wholesale inventory sales jumped 2.2% in October, marking a bigger jump than that seen in the previous month. Sales for the month stood at $620.5 billion in October, up 2.2% from September’s revised level and higher than the 1.7% growth. It is up 22.2% from a year ago.Total inventories stood at $759.4 billion, up 2.3% … [Read more...] about Wholesale Inventory Sales Growth Picks Up in October
ECB Policymakers Eye Temporary Bond-Buying Increase
Source: Reuters Officials of the European Central Bank are looking at a temporary increase in the regular bond-buying program, which would still see a significant reduction in the program in March. Sources close to the matter said officials are looking to boost the Asset Purchase Programme (APP), but with limits on the size and the length of the commitment.Policymakers … [Read more...] about ECB Policymakers Eye Temporary Bond-Buying Increase
