Market News

A sharp increase in energy prices and more expensive services boosted consumer inflation in May, according to data on Thursday, taking the rate of price growth above the European Central Banks target.

The European Central Bank (ECB) continued with its flow of stimulus as was expected on Thursday, as any retreat would accelerate the rise in borrowing costs and prevent the potential recovery.

On Tuesday the OPEC+ oil producers agreed to stick to the existing pace of gradually easing supply curbs through July, as they seek to balance expectations of a recovery in demand against a possible increase in Iranian supply

The German economy shrank more than expected in the first quarter as the coronavirus related restrictions motivated households to put more money than ever into savings, showed data on Tuesday.

Bitcoin tumbled below the $40,000 mark on Wednesday hitting a 3.5 month low. It dragged down with it other digital coins after China imposed fresh curbs on transactions involving cryptocurrencies.

Renewable energy grew at its fastest pace in the last two decades, 2020 was led by China and shall continue to grow in the next two years, showed a report by the International Energy Agency (IEA) on Tuesday.

The Bank of England (BOE) slowed the pace of its trillion Dollar stimulus program and is expecting a faster recovery but still stressed about tightening the monetary policy.

US President Joe Biden proposed a $1.8 trillion package for families and education in his first joint speech to Congress on Wednesday. He stressed the need to invest to compete…

German Constitutional court decided to dismiss legal challenges against the European Union’s recovery plan, which helps with the stimulus being rolled out across the region. In late March, the highest court in Germany had a number of questions with regards to the EU’s plan to raise €750 billion through financial markets.

Bitcoin has been increasing in price to reach record highs, in anticipation to Wednesday’s IPO of crypto exchange Coinbase

Germany’s public sector deficit reached €189.2 billion in 2020 due to the coronavirus pandemic. This was the first deficit since 2013 and the highest budget shortfall since the German reunification three decades ago, according to the Statistics Office.

Early last week Ever Given, a 400-meter-long vessel leased by Evergreen Line had become jammed diagonally across the southern section of the Suez Canal, due to high winds.