The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Last week, the US Federal Reserve raised interest rates for the first time since 2018. The decision was made to tame galloping inflation in the country. Consumer prices are now at 7.9% and the rate is likely to continue soaring, according to analysts as well as the Fed itself. In other words, one or two rate hikes will not be able to positively affect consumer prices. Experts see inflation surging further due to current energy and commodity issues as their prices are now on the rise. Oil increased to $130 a barrel, pulled back to $95, retraced up, and tested the $108 mark. No one has seen it coming, especially given the fact that crude traded at $0 a barrel two years ago. Gas prices somewhat decreased compared to October 2021 when they hit $6,300 a 1,000 cubic meters. Today, natural gas costs about $5,000 a 1,000 cubic meters.
Rising energy prices will affect inflation just as slowly as the Federal Reserve's tightening does. Simply put, oil prices have doubled in a few months, while inflation under the influence of this factor could grow for 6 months to a year. This becomes possible due to the fact that oil futures contracts usually trade for delivery several years in advance and at fixed prices. In other words, the fact that crude now costs $108 a barrel does not mean it is bought at the same price. So, it is now about the contracts signed when oil tarded at $60-$70 a barrel. New contracts will be concluded sooner or later, and already at some $110 a barrel. Generally speaking, growing energy prices will be weighing on inflation for a long time to come.
Above all else, the eurozone is now facing energy and food crises as it buys energy in Russia and food in Ukraine. Any crisis is a redistribution and redirection of capital from one asset to another. Therefore, recent market jitters are to repeat in the future. Inflation will keep growing both in the eurozone and the United States. However, unlike the eurozone where they seem to do nothing about it, monetary policy tools used in the United States will become efficacious in some 8-9 months.
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