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7/27/2020

The development of the global crisis follows a V-model scenario with potential for inflation in the dollar zone. The entire US national debt curve has been in the real negative zone for six months. At the same time, members of the FRS have already said they can switch to the policy of targeting US Treasury yields, which could threaten to keep interest rates negative for a long time. There is still a large deficit in the foreign trade of the United States. Plus, the current tensions between the United States and China. China refused to sign a nuclear weapons treaty with the United States a few weeks ago until the number of its nuclear warheads are reduced to China’s level. After that, the United States closed Chinese Consulate in Houston. This morning, China closed the US consulate in Chengdu. As a result, the combination of economic, financial and political factors undermines the strength of the dollar on the international stage.

Today, the European indexes are falling: the EuroStoxx 600 index is down 0.2%, the German DAX adds 0.15%. European stocks are plummeting as shares of travel companies weaken after the UK imposed a mandatory quarantine on travellers returning from Spain, where coronavirus infections are on the rise.

Today, the price of Brent oil was down 1.82%. Oil prices have been stable since the start of June. But the fundamentals promise a large deficit in the oil market in 3-4 quarters. Therefore, Mexico has asked major Wall Street banks to provide oil quotes for its oil hedging program.

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