About: jonywang
Recent Posts by jonywang
Downbeat CPI Read Sends Shares Tumbling
On Tuesday (GMT+3), the US released its year-on-year Consumer Price Index (CPI) figure, showing that inflation came in at 8.3%, higher than the expected 8.1% but lower than the previous month’s 8.5%. The month-on-month core CPI change, meanwhile, came in at an increase of 0.6% versus an expected increase of 0.3%. While gasoline prices haveContinue Reading
US to Place Cap on Russian Oil
The US will be joining its G7 peers in placing a price cap on crude coming out of Russia in a bid to both limit the Kremlin’s ability to fund its war, while cooling inflation and oil prices. The price cap has been set to take effect 5 December, the same time Europe’s six-sanction packageContinue Reading
G7 Backs Price Cap on Russian Oil
The Group of Seven, 7 of the world’s richest countries, has agreed to put a global price cap on Russian oil, potentially cooling oil prices while hitting the revenue of Russia. The cap is planned to be enacted around the same time as the EU sanctions on Russian oil, which will come into effect 5thContinue Reading
ADP Nonfarm Underperforms Ahead of NFP
On Wednesday (GMT+3) 31st August, the ADP US Nonfarm Employment figures were released after a 2-month hiatus. According to the ADP, US private payrolls grew by 132,000 – down from the 268,000 in July and the forecasted 300,000 increase. The ADP took a two-month hiatus to revise its methodology and released June, July, and August’sContinue Reading
Large Crude Inventory Drop Sends Prices Up
On Wednesday (GMT+3) 24th August, the US crude oil inventories greatly outperformed expectations, dropping by 3.282 million barrels against an expected drop of 0.922 barrels for the week of 19 August. The Energy Information Administration also reported a drop of 0.661 million barrels against expectations for an increase of 0.58 million barrels. Gasoline inventories, however,Continue Reading
