The risk of recession rising

The gap between the short and long term yields has been slowly reaching the levels, which usually flash the rising risks of recessions. With the geopolitical chaos, the ravaging inflation and uncertainty in just about every possible aspect, the recession risks seem to be increasing by day.

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PMI falls in several countries

Eurozone Purchasing Managers’ Index (PMI) fell to 48.9 in September of 2022 from 49.8 in August, and Germany Services PMI also dropped to 45.4 from 47.7. UK Services PMI also falls from 50.9 to 49.2, but France surprises with a rebound from 51.2 to 53.

Beyond Meat COO arrested for battery

Doug Ramsey, the COO of Beyond Meat, was detained this weekend. Ramsey is accused of biting a man’s nose in a parking garage in Arkansas following a college football game. He was lodged in the Washington County jail after being accused of third-degree battery.

Spain’s trade deficit rose sharply

Spain’s trade deficit increased from EUR 1.60 billion in July 2021 to EUR 6.56 billion in July 2022. Spain’s imports rose 37.1% to an almost record high. This created the greatest trade deficit since December 2008, led by energy products, capital goods, non-chemical semi-manufactures, food, drinks and tobacco.

EU inflation is still high

The annual inflation rate in the Euro Area was confirmed at a record of 9.1% in August of 2022, compared to 8.9% in July. The highest contribution came from energy again. The Eurodollar holds around the parity level.

Biden with $900 million announcement

Today, President Joe Biden will announce the approval of $900 million funding for building EV charging stations. It should take place in 35 states and is a part of $1 trillion infrastructure bill that was approved in November of last year. Over the next 5 years about $5 billion will be granted to states to build thousands of EV charging stations.

Czech’s inflation falls after 14 months

In August 2022, the annual inflation rate in the Czech Republic decreased for the first time in 14 months to 17.2% from 17.5%, well below the market expectations of 17.6%. So it looks like 7% interest rates are starting to affect their inflation, and it’s coming back down.

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WTI Crude oil recovers losses

Worries about limited global supply helped WTI crude futures rise 2% to $80, pulling away from 9-month lows at $76 earlier this week. Hurricane Ian caused a reduction in US crude output of around 190,000 barrels per day, or 11% of the Gulf’s total.

GBP remains volatile

The Bank of England announced that it would start making temporary purchases of long-term UK government bonds on September 28 in order to restore orderly market conditions. The British pound remained volatile, first rising to above $1.08 before dropping to $1.05.

Nord Stream damaged & gas rises

Leaders in Europe thought the two explosions that destroyed the pipelines used to transport Russian natural gas to Europe were intentional. However, some officials accused the Kremlin of being behind the explosions, saying they were meant to be a warning to Europe. Meanwhile, EU gas is up 13% on Wednesday.

DAX hit 12,000 mark

European equities markets declined sharply, with the German stock index DAX hitting a two-year low of 12,000. The stock index is pressured by the hawkish monetary policy of central banks, which could draw DAX even lower.

Indian Rupee suffers losses

The Indian rupee hit a record low of 81.7 and is on track with the retreat of riskier currencies. This is due to recession fears and expectations of a hawkish Federal Reserve policy. Pressure on the rupee is also contributed to an increase in capital outflows from the country.

EU gas surges by 10%

After four straight days of losses due to concerns about future Russian supply, EU gas futures spiked 8% near €190. This may be due to the Nord Stream report of a pressure reduction at the two lines of Nord Stream and one line of Nord Stream 2.


EUR/USD remains offered, targets 0.95

EUR/USD remains offered, targets 0.95

It looks like another bearish day for the single currency as the USD remains unstoppable.
Do Kwon allegedly tried to run with 3,313 bitcoins

Do Kwon allegedly tried to run with 3,313 bitcoins

While Do Kwon claims he is not on the run, he keeps hiding while being chased by Interpol. Allegedly, he tried to withdraw 3,313 BTC.
USD/JPY tests previous highs despite negative sentiment

USD/JPY tests previous highs despite negative sentiment

The US Dollar traded higher on Tuesday, boosted by the risk-averse sentiment in the markets.

Severe explosions damage Nord Stream pipelines

Swedish and Danish gauging stations massive underwater explosions where the Nord Stream pipeline subsequently started leaking gas.