In Europe, gas prices have increased significantly in recent times. For 1 MWh last week, you had to pay over EUR 300. This is not a record yet, as we dealt with such a valuation in March and it amounted to EUR 345 per 1 MWh. Brokerage houses report that benchmark gas contracts in Amsterdam – ICE Entawex Dutch TTF – are becoming more expensive. They were valued last Thursday by 2.9% higher, exactly 300.50 EUR per MWh. Natural gas quotations remain in an uptrend.
Oil is becoming more expensive – it can be seen at gas stations
The prices of crude oil in the United States rose for three consecutive sessions in the fourth week of August this year, following record US exports of this commodity and refined products. As a result of this for West Texas Intermediate oil barrel for October deliveries, you had to pay $ 95.42 on NYMEX in New York, or 0.55 percent. more. For Brent oil on the ICE exchange in London, prices were traded at USD 101.89, or 0.66 percent. in deliveries also for October.
What is the reason for the more expensive copper?
Growing copper prices on the metal exchange in London, most likely result from investors’ reaction to actions taken by the authorities in China to stimulate the weakening economy. These authorities decided to intensify fiscal stimulus – they pumped another 1 trillion yuan into the economy. This indirectly caused that copper in 3-month deliveries to the LME in London was valued 0.5% higher, at USD 8,075.00 per ton, and on the Comex exchange, copper was valued at USD 3.6455 per pound at the same time. and lost 0.07 percent.
Sale on Asian stock exchanges
The Asian stock indices in many important markets fell significantly. The reason for this was the statement by Jerome Powell, the head of the US Federal Reserve, regarding the further shaping of monetary policy. Rise is most likely major interest rates in the near future. Therefore, Asian indices are falling.
The strongest since June 13, by 2.3 percent. the benchmark regional MSCI Asia-Pacific index fell. From the beginning of the year, this index fell by 18%. They fell in succession in Japan stock indices Nikkei 225 – by 2.7 percent and Topix – by 1.8 percent. It is also worth mentioning the reduction, albeit a slight, of the Shanghai Composite Index in China or the Hang Seng in Hong Kong.
Why is the zloty depreciating?
Increasingly higher rates of major foreign currencies, which we have observed in recent weeks on Forex exchange and in exchange offices, indicate the declining strength of the PLN. The president of the National Bank of Poland and at the same time the chairman of the Monetary Policy Council – Adam Glapiński – said that the depreciation of the Polish zloty is now more influenced by market expectations of what the Fed will do with US interest rates than the ongoing war in Ukraine.
Bitcoin valuation below 20 thousand. dollars
She was broken again Bitcoin valuation limit. At the end of August 2022, 1 BTC cost less than $ 20,000. It happened on August 29, and Bitcoin lost 0.8% in just 24 hours. on your valuation. It cost exactly $ 19,882.
The falling Bitcoin prices are also setting a downward trend for other cryptocurrencies. This is mainly due to the tightening of the US monetary policy. Jerome Powell, chairman of the Federal Reserve, said that the main interest rates in the United States will most likely be raised soon.