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Economic and fundamental developments 16-02-2022

16 Feb 2022 12:05 PM
  • Asian stock indices rose following the US indices' tracks, which rose yesterday after news that Russia has withdrawn some of its forces from the Ukrainian border. Today's Chinese inflation data showed that the CPI decreased more than expected to 0.9% in January compared to 1.5% in December.
  • Gold prices fell yesterday amid a state of optimism in the financial markets, accompanied by an increased risk appetite. But today, the price rebounded slightly, accompanied by a decline in the US dollar against a basket of major currencies.
  • Oil prices fell yesterday as concerns about geopolitical tensions in Eastern Europe eased. Brent crude contracts fell from this week's high above $96 to trade around $93 a barrel today.
  • The Sterling Pound rose against a basket of currencies, including the US dollar, the Japanese Yen, and the Euro. The pound edged higher after today's Consumer Price Index data was released, showing an unexpected rise in inflation from 5.4% to 5.5%.

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