Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

The main events by the morning: May 31


May, 31 2024
watermark Economic news

  • China has refused to participate in the peace conference on Ukraine, which will be held in Switzerland. The Chinese authorities declined the invitation due to non-fulfillment of the conditions for their participation, which they did not specify. The summit, scheduled for June 15-16, will bring together representatives of 160 countries and international organizations. Moscow has not received an invitation to the event.


  • A new problem for the Russian oil industry: the EU may impose sanctions against Ingosstrakh. As part of efforts to curb income flows of the Russian Federation, the EU authorities have raised the issue of sanctions against the insurance company. Ingosstrakh is one of the top 5 insurers in Russia. 


  • The Russian authorities are considering the introduction of an excise tax on electricity for mining. The Federal Tax Service is actively discussing with market representatives possible plans for the taxation of mining. Final decisions on the introduction of excise taxes will be made only after the approval of specific legislation to regulate this industry.


  • The United States has warned China of an energy blockade in the event of military action in Taiwan. This position of Washington strengthens Russia's position as the main supplier of energy resources to China. This is also another reason to accelerate the construction of the Power of Siberia 2 gas pipeline, which will allow China to cover gas needs. 


  • The frosts have already been reflected in prices: Russian grain for export has added 4% in price over the week. The FOB Novorossiysk wheat index rose to $245 per ton, an increase of 15% over the month. Earlier, the harvest forecast was lowered from 90 million to 86 million tons. Expectations of an increase in dollar inflation are also a driver of prices.




Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.