Global Market News

August Recap: Energy prices have been easing over the past three weeks, providing some relief to consumers and industries alike. However, ongoing geopolitical tensions in the Middle East continue to affect global trade, creating uncertainty in the markets and potentially disrupting supply chains. 

Currency

  • July 24, 2024: USD continues to plunge against Japanese Yen.
  • July 23, 2024: Chinese yuan hits an 8-month low against USD at 7.2756 to the dollar.
  • May 14, 2024: The Euro is expected to weaken against the USD due to competing policies of the ECB and Federal Reserve Bank. 
  • April 30, 2024: USD reaches new highs against EUR and GBP for lack of rate cuts and resilient economy. 

Oil & Gas

  • July 25, 2024: Oil prices slide over 3 week period due to demand weakness.
  • July 25, 2024: OPEC’s global recoverable oil reserves were shifted downward by 52 billion barrels to 1500.
  • May 21, 2025: Guyana is the 3rd fastest growing non-OPEC country with 11 billion oil equivalent barrels.  
  • March 28, 2024: India and China snap up Russia’s crude oil. 

Minerals

  • July 28, 2024: Ukraine’s steel imports increase with EU market access.
  • July 25, 2024: China’s new regulation governs strict rare earth elements.
  • July 25, 2024: African countries shift to gold to hedge currency losses.
  • May 30, 2024: Billions in gold is smuggled out of Africa annually, most of it going to UAE.  
  • March 25, 2024: Indonesia is far and away the world’s largest nickel producer.
  • September 12, 2023: McDermitt Caldera along the Oregon-Nevada border has the world’s largest lithium reserve. 

Economies

  • July 26, 2024: Tourism lifts Spain’s economy and lowers the unemployment rate. 
  • July 16, 2024: Australia is facing the looming threat of a recession due to unchecked inflation and a cooling economy.
  • July 11, 2024: UK economy improving and GBP hits 4-month high. 
  • May 30, 2024: Gemany’s Energy Crisis impacting economy.
  • April 30, 2025: France, Germany, Italy, and Spain exit recession aided by lower inflation and possible rate cuts.

Geopolitical

  • July 26, 2024: Mike Pompeo predicts Trump will stop the Ukraine war immediately. 
  • May 13, 2024: Retailer chains have closed 3,200 brick-and-mortar stores.  
  • April 5, 2024: Houthi attacks on Red Sea shipping lanes having global economic repercussions. 

Global Debt

  • July 24, 2024: France must reduce its deficit by 112 billion Euros or it will end up in a downward spiral like Italy. 
  • May 28, 2024: IMF says Germany should consider washing debt brake, but there is a risk of fueling inflation.
  • January 22, 2024: EU debt reached 13.8 trillion Euros in Q4-20234 but debt to GDP ration decreased by 2%.  
Scroll to Top