{"id":1272,"date":"2021-06-01T10:30:18","date_gmt":"2021-06-01T13:30:18","guid":{"rendered":"https:\/\/wintrademarkets.com\/news\/?p=1272"},"modified":"2021-06-01T10:30:20","modified_gmt":"2021-06-01T13:30:20","slug":"more-inflation-oil-hits-a-three-year-high-and-returns-to-office","status":"publish","type":"post","link":"https:\/\/wintrademarkets.com\/new\/2021\/06\/01\/more-inflation-oil-hits-a-three-year-high-and-returns-to-office\/","title":{"rendered":"More inflation, oil hits a three-year high and returns to office."},"content":{"rendered":"\n

More inflation, oil hits a three-year high and returns to office.<\/strong><\/p>\n\n\n\n

Target<\/strong><\/p>\n\n\n\n

Euro area inflation rose to 2% in May, the highest level in more than two years.\u00a0THEnews comes based on German inflation data, which showed the annual rate rising to2.4% and European data signaling that price pressures are increasing infactories in the region.\u00a0Investors are still not very excited about the prospects forsustained price increases, however, as policymakers maintain theirmessage that the bull movement will be soon.<\/p>\n\n\n\n

Rising oil<\/strong><\/p>\n\n\n\n

Looking at the headline inflation figure this morning, there is clearly a large price effectpower.\u00a0This trend looks set to continue as oil began this month,reaching the highest level since October 2018. The OPEC+ alliance believes that the excessglobal effect caused by the pandemic is almost over and stocks will decline rapidly in thesecond semester of this year.\u00a0Coalition ministers must agree to move forward with aplanned production increase from next month at today’s virtual meeting.\u00a0There isconfidence among producers that Iran’s return to international markets would do littleto upset the global supply balance.<\/p>\n\n\n\n

Office works<\/strong><\/p>\n\n\n\n

Rising inflation is closely linked to the rapid reopening of economies.\u00a0There wasmixed signs of progress on that front, with the European Union supposedly set toannounce the end of quarantines for the fully vaccinated, as Malaysia enters atwo-week lockdown.\u00a0In the US, employees are returning to the office, with Bankof America Corp.\u00a0bringing top New York managers back to headquarters starting today.WHO began naming Covid variants based on Greek letters rather than geography.<\/p>\n\n\n\n

Markets go up<\/strong><\/p>\n\n\n\n

After a relatively quiet session yesterday, global markets are startingthe month on a generally positive basis.\u00a0Overnight, the MSCI Asia Pacific index rose 0.3%,while Japan’s Topix index closed up 0.2%.\u00a0In Europe, the Stoxx 600 Index gained1% at 6:50 am EDT, with mining and energy companies amongbiggest earners.\u00a0S&P 500 futures pointed to a strong start to the week, the10-year Treasury yield was at 1.623% and gold remained practicallyunchanged.<\/p>\n\n\n\n

Coming<\/strong><\/p>\n\n\n\n

Canada’s March GDP is at 9:30 am.\u00a0The US manufacturing PMI for May is at 10:45 am, withthe ISM manufacturing at 11:00 am.\u00a0April construction spending is also at this time.\u00a0ODallas Fed Manufacturing for May is at 11:30 am.\u00a0The Fed’s vice president for oversight,Randal Quarles and Fed Governor Lael Brainard speak later.\u00a0OPEC Ministerscome together.\u00a0Zoom Video Communications Inc., Bank of Nova Scotia and Constellation BrandsInc. are among the companies that reported<\/p>\n\n\n\n

Source:https:\/\/wintrademarkets.com\/about-us\/<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

More inflation, oil hits a three-year high and returns to office. Target Euro area inflation rose to 2% in May, the highest level in more than two years.\u00a0THEnews comes based on German inflation data, which showed the annual rate rising to2.4% and European data signaling that price pressures are increasing infactories in the region.\u00a0Investors are […]<\/p>\n","protected":false},"author":2,"featured_media":961,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-1272","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-hft"},"_links":{"self":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts\/1272","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/comments?post=1272"}],"version-history":[{"count":1,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts\/1272\/revisions"}],"predecessor-version":[{"id":1273,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts\/1272\/revisions\/1273"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/media\/961"}],"wp:attachment":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/media?parent=1272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/categories?post=1272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/tags?post=1272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}