- As worries about rising interest rates and a looming recession fade, investors are pouring money back into shares. The European benchmark is currently experiencing its longest uptrend since mid-April and has nearly reversed its losses from the second half. A report on US producer prices that is published later today is anticipated to show a decrease from a year ago, according to data released on Wednesday that showed the US inflation rate fell to a two-year low.
- The boom in European stocks that saw the Stoxx 600 Index rise 1.5% on Wednesday continued.
- Markets continued to be in a risk-on mode as stocks rose and the dollar dropped to a 15-month low.
- Russian urals oil price jumps $2-$3/bbl above "price cap" on Thursday amid supply cuts and firmer brent price - Calculations
- UK GDP Estimate MoM Actual -0.1% (Forecast -0.3%, Previous 0.2%) (Sterling Strengthened)
- IEA: Global oil demand set to rise by 2.2 mln bpd in 2023 to reach a record 102.1 mln bpd.
- Russian oil exports declined to the lowest since March 2021 in June.
- Saudi Arabia crude output to hit 2-Yr low of 9 min B/D in July and August.
