March 26. Experts believe that cars will rise in price because of the Suez Canal blocking

Experts believe that blocking the movement of ships through the Suez Canal will inevitably lead to higher prices for cars.

It is noted that the incident involving the container ship Evergreen mainly affected the European Union. For three days, a queue of more than 200 ships gathered near the blocked canal. Another part of the tankers headed by a roundabout route around Africa – and this will move the delivery dates by 15 days.

Analysts also note that the situation in the Suez Canal may affect the cost of some industrial goods from Europe, including automotive products. The fact is that the increase in costs due to the additional time spent in chartering ships is approximately $8,000 for each container from China. Although this is a small amount, the main problem is timing.

Currently, the European markets are already experiencing assembly problems due to the lack of chips. And 15 days of delay can lead to an increase in the cost of cars by 1-2%.

March 31. ECB sees opportunity to launch digital euro by 2025

The head of the European Central Bank (ECB) Christine Lagarde said that the regulator could launch the digital euro around the middle of this decade, in 2025.

In her interview, Lagarde noted that the main task of the ECB is to ensure the correct approach to the process of creating a digital European currency, which can take several years. «This is a technical project and also a fundamental change. We have to make sure we don't break the system, but we will improve it», Lagarde said.

The ECB intends to publish an analysis of the 8,000 responses received in a public consultation on a potential digital currency launch. Further, the analysis will be sent to the European Parliament, and then – to the ECB Governing Council, which by the middle of this year will decide whether to continue this experimental work. The final decision on whether to introduce digital currency at all will be made six months or a year after that.

The European Central Bank has said it is considering issuing a digital euro to prepare for the digital age. The European Commission, in turn, noted that the digital euro can support the digitalization of the entire EU economy, which is one of the most important elements of the EU's development.

April 2. Non-farm Payrolls report significantly exceeded expectations

Today, the US Department of Labor released a report Non-farm Payrolls, according to which, the number of jobs outside of agriculture in March rose by 916 thousand, and the unemployment rate fell to 6%. The current increase significantly exceeded analysts' forecasts (647 thousand) and became the fastest since August 2020.

Stronger US economic growth and strong vaccination efforts fueled the job growth. Analysts note that the country's economy is recovering, restrictions are lifted, and those who have lost their jobs are returning to jobs. The only concern is the potential likelihood of another wave of Covid, which could lead to another round of closings.

In April last year, against the backdrop of the pandemic, unemployment in the United States was at the level of 14.7%, in May – 13.3%, in June – 11.1%, in July – 10.2%, in August – 8.4%. and in September – 7.9%. The actual figure of 6% clearly speaks of a significant recovery in the American labor market. In mid-March, the Fed improved its forecast for US unemployment in 2021 to 4.5% from 5%. In 2022, the indicator will be at the level of 3.9% against the previously expected 4.2%, in 2023 – at the level of 3.5% against 3.7%.

April 8. US stock markets continued their upward rally

Reports on initial and ongoing jobless claims in the US were released today, which turned out to be worse than analysts' forecasts. Moreover, today traders will follow the speech of Fed Chairman Jerome Powell at the IMF, although they do not expect important news from this speech.

More information has emerged about the tax changes planned by President Joe Biden's administration. US Treasury Secretary Janet Yellen has previously excited the markets with statements of a minimum international tax - an idea that the EU also supports. It turned out that the 15% tax that it offers will apply only to companies with annual revenues of at least $ 2 billion, which means it will have less impact on the market than previously thought.

Tax plan adjustments are beneficial for the stock markets. Today, American stock indices continued to renew their all-time highs, despite disappointing data on unemployment in the country.

Meanwhile, AstraZeneca's share price is rising, despite the company's continuing troubles. The European Medicines Agency and the UK Medicines and Health Agency have determined that AstraZeneca vaccine, in rare cases, can contribute to a possible death from blood clotting.

Due to the rarity of this problem (20 out of 20 million vaccinations in the UK) and the severity of Covid-19, both agencies still recommend the use of the AstraZeneca vaccine. This optimism is most likely the driving force behind the rise in the pharmaceutical company's stock.

Oil market. April 15, 2021 | Brent remains in the area of monthly highs

On Thursday, oil prices continued to be in the area of monthly highs, thanks to improved forecasts for global fuel demand. The current Brent quotation is $66.30 per barrel.

Prices were supported by a report from the International Energy Agency (IEA), according to which oil demand is expected to grow by 5.7 million barrels per day in 2021 compared to 2020. And this is 230 thousand barrels per day more than previously predicted. The Organization of the Petroleum Exporting Countries (OPEC) has also improved its forecast for global oil demand for the current year and is now expecting an increase of 5.95 million barrels per day.

Additional support for quotations of «black gold» was provided by yesterday's data on crude oil reserves in the United States. The Energy Information Administration (EIA) reported that oil reserves last week fell by 5.89 million barrels, while analysts had expected a half-cut, by 2.89 million barrels. In the current environment, oil prices will continue to trade above $66.00 per barrel.

April 19. Wall Street declines, consolidating after record peaks

On Monday, the US stock market opened lower, consolidating in the absence of important economic news. Earlier last week, Wall Street hit another record high.

In particular, the Dow Jones Industrial Average fell 114 points to 34.066 points, the S&P 500 fell 0.2% to 4.158 and the Nasdaq Composite fell 0.1% to 13.873 points.

The main reason for the decline in the market, analysts called the sharp sell-off of cryptocurrencies over the weekend, which reminded investors how hectic the atmosphere was in the financial market during the pandemic.

Tesla shares plunged 4% after another Tesla self-driving car crash resulting in two fatalities, once again calling into question the capabilities of the Full Self-Driving software. Peloton shares lost more than 7% after a public dispute with US regulators over the safety of its Tread +. Coinbase Global shares fell 0.9% after the cryptocurrency sharp correction seems to have exhausted itself. Growth leaders included Harley-Davidson, Manchester United Football Club and GameStop.

April 26. The meeting of all OPEC + ministers will take place on April 28

On April 28, a meeting of all OPEC + ministers and a meeting of the Ministerial Monitoring Committee (JMMC) will take place. On the eve of these events, OPEC Secretary General Mohammed Barkindo said that the organization sees positive signals in the development of the world economy and in the prospects for the oil industry. At the same time, many factors remain that require constant monitoring and maintaining vigilance.

Deputy Prime Minister of the Russian Federation Alexander Novak noted that the main task at the OPEC + meeting will be to analyze the situation on the oil market. Novak regards the current situation as «balanced».

Recall that due to the drop in oil demand caused by the coronavirus pandemic, OPEC + has reduced its production by 9.7 million barrels per day since May 2020. As demand recovered, the restrictions were adjusted, and for the current April they amount to 6.9 million barrels per day.

Since May, OPEC + has agreed on a further reduction in the volume of reduced production – to 6.55 million barrels per day, from June – to 6.2 million, from July – to 5.76 million.

April 28. Ethereum updated the maximum on news about the launch of digital bonds

Ethereum, the world's second-largest cryptocurrency by market capitalization, reached a new peak on Wednesday amid news that the European Investment Bank (EIB) is launching digital bond sales on the Ethereum blockchain. As a result, Ethereum hit an all-time high of $2,725, up 5.5%.

Yesterday it was revealed that the EIB plans to issue a two-year digital bond worth €100 million, with Goldman Sachs, Banco Santander and Societe Generale leading the sale.

Experts note that the news of the EIB's digital bond issue prompted institutional investors to buy the token. They also noted a decrease in the supply of Ethereum in the market, which led to an increase in its price.

May 03. German GDP fell 1.7%

According to the Federal Statistical Office of Germany, the country's GDP contracted in the first quarter by 1.7% in quarterly terms and by 3% in annual terms. At the same time, Germany's GDP in the third quarter of last year grew by 8.7%, and in the fourth quarter –  by 0.5%.

The weakening of the largest economy in Europe pulled down the entire economy of the eurozone countries: according to preliminary data, the total GDP of the eurozone countries fell by 0.6% in the first quarter.

Experts note that the new restrictions introduced in Germany during the third wave of the coronavirus pandemic have negatively affected the country's economy. First of all, consumer demand has been hit hard by the restrictions. Moreover, the head of the Dusseldorf Chamber of Commerce (CCI) Gregor Berghausen noted that the German economy loses more than 5 billion euros a year due to sanctions against Russia.

May 10. SpaceX will launch a satellite to the Moon, paid for by Dogecoin

SpaceX will launch a satellite to the Moon during the mission, which will be paid for with Dogecoin cryptocurrency. This was announced on Twitter by the head of the corporation Elon Musk. He wrote: «Mission paid at Doge. The first cryptocurrency in space, the first meme in space.»

SpaceX Vice President Tom Ochinero noted that the launch of a satellite to the Moon (DOGE-1 mission) «will demonstrate the use of cryptocurrency outside of Earth orbit and lay the foundation for interplanetary trade.»

The satellite itself belongs to the Canadian company Geometric Energy Corporation (GEC) and is a 40-kilogram device equipped with sensors and cameras. Its launch with a Falcon 9 launch vehicle is scheduled for the first quarter of 2022.

Last week, Dogecoin peaked at $ 0.69. Prior to Musk's appearance on Saturday Night Live, the token's value climbed to a record $0.73, but during the airtime it dropped 30%.

May 17. Russia in March retained the second place in oil production in the world

According to the Joint Petroleum Statistics Initiative (JODI), Russia in March again remained in second place in the world in terms of oil production with an indicator of 9.508 million barrels per day. The United States retained the world leadership, while Saudi Arabia remained in third place.

Russia remains in second place for the eleventh month in a row. Only in April 2020 Russia dropped to third place. Until this moment, the Russian Federation has also been in second place for over a year.

According to the JODI, oil production in Russia in March increased by 1.3% compared to February. The United States increased production by 11.2% in monthly terms – to 10.968 million barrels of oil per day, while Saudi Arabia – reduced by 0.1%, to 8.138 million barrels per day.

Oil exports from Saudi Arabia in March decreased in monthly terms by 3.5%, to 5.427 million barrels per day, and from the United States – increased by 7.5%, to 2.85 million barrels. In February, the Russian Federation exported 4.361 million barrels of oil per day, and in January – 3.986 million.

May 24. Gold rises in price on weaker dollar and lower yields on US bonds

On Monday, the price of gold is growing against the background of a weakening US dollar and a decline in yields on US government bonds. The current quotation of the precious metal is $ 1885.35 per troy ounce.

Gold price continues to rise for the fourth trading session in a row. The dollar index again dropped below 90 points, and the yield on ten-year US Treasuries fell to 1.6% from the previous close of 1.632%.

Analysts note that falling Treasury yields and a softer dollar have created good conditions for a rise in gold prices. In particular, the weakening dollar makes gold more accessible to holders of other currencies. And the decline in the yield on US government bonds, in turn, makes them less attractive as an alternative in the field of «safe» investments.