The worst economic crisis in Turkish Cypriot history
Fact: The annual inflation rate in the northern part of Cyprus hit 94.5 per cent in March, with monthly food inflation reaching 3.4 per cent.
Gold
European stocks gain, dollar strong as traders cut Fed easing bets
European stocks were on track to outperform Wall Street on Friday due to high demand for exporter shares as major currencies in the continent dropped against a strong dollar.
I am Maximus wins Grand National
I Am Maximus won the Grand National steeplechase with jockey Paul Townend.
Decoding Satoshi: The Halving and Bitcoin, ’s Quest for Digital Scarcity
Fact: The halving process in Bitcoin reduces the rate at which new coins are created, ensuring its scarcity and controlling its inflation rate.
Europe turns to ECB after U.S. inflation selloff
Stocks and the euro were steady ahead of an European Central Bank meeting on Thursday, after stubborn U.S. inflation numbers triggered the biggest global market selloff in months and left Japan’s yen at a new 34-year low.
WTI lacks direction, consolidates below $86.00
The text discusses the current struggles of West Texas Intermediate (WTI) crude oil prices, which are being supported by concerns about the Middle East crisis. Despite potential supply risks, a substantial rise in US crude inventories and signs of cooling fuel demand are capping the upside for oil prices. Additionally, hotter US consumer inflation figures have led investors to push back expectations for an interest rate cut by the Federal Reserve. Traders are now looking to US economic data and speeches by FOMC members to drive USD demand and influence crude oil prices.
Calm before the CPI storm
Investors and traders are cautious ahead of the release of US inflation data, which is expected to rise to 3.4%. If the data exceeds expectations, there is a possibility of a significant market sell-off.
Silver climbs to near $28, tracking rally in gold
Silver is trading at a two-year high near .00 per ounce, driven by heightened consumer and industrial demand as well as central banks increasing their reserves in gold. US Treasury yields have corrected after two days of gains, with the 2-year and 10-year yields standing at 4.78% and 4.39%, respectively. Traders are eagerly awaiting the release of the US Consumer Price Index data scheduled for Wednesday, with expectations of an acceleration in the headline CPI and a cooling down in the core measure. Geopolitical tensions in the Middle East have eased, with peace talks between Israel and Hamas resuming in Egypt. Traders will focus on the upcoming US inflation data and the release of FOMC minutes this week to gain more clarity on the timing of the Fed’s monetary policy adjustments.
Gold starts week with yet another record high
Gold hit a new all-time high above ,350 at the weekly opening after gaining over 4% in the previous week, reaching a record high of ,330 on Friday.
Ayia Napa Marina charity dinner in aid of Karaiskakio
Fact: The Karaiskakio Foundation and Ayia Napa Marina are co-organizing a charity event called “The Glowmorous Dinner” on June 21, 2024, to raise funds for the Foundation’s specialized Children’s Cancer Centre, featuring Greek singer Despina Vandi.