The European Union's leaders at a summit in Brussels accepted the European Commission's recommendation to begin accession negotiations with Moldova and Ukraine(..)
P.S. Very good news...! European "leaders" are finally demonstrating some ability to make sensible decisions...This is a good decision for the well-being of Europe and a major defeat for the Kremlin and the few politically "useful idiots" who serve the Muscovite bloodthirsty dictator...
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EU WEIGHS UKRAINE CANDIDACY AS RUSSIA INFLICTS ‘HELL’ IN EAST
EU leaders met in Brussels on Thursday to discuss making Ukraine a candidate to join the bloc, a “decisive” moment likely to infuriate Russia as its forces battled stiff resistance to advance in the embattled eastern Donbas region.Western officials also denounced Moscow’s “weaponising” of its key gas and grain exports, with a US official warning of further retaliation measures at a G7 summit in…
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Market Research Report: Oil Spikes Higher After Breakout, Stocks Drop on Better Job Numbers, Crypto Consolidates
Miners Set Bearish Tone By Selling BTC
BTC Accumulation Picks Up Pace
BTC Entering Capitulation Zone
ETH Exchange Reserves Rise A Sign For Caution
TRX Becomes Safe Haven While SOL Gets Battered Due To Another Breakdown
Crypto Regulations Start Streaming In
It was a week of two conflicting reports as the non-farm payrolls (NFP) and ADP employment report showed two different sides of the employment situation.
While the ADP employment report released on Thursday showed employment slowdown in the private sector that is worse than expectation, the NFP came in better than expected.
On Thursday, the ADP report showed that private sector employment increased by just 128,000 in May, the slowest month of growth since the pandemic, and way below expectations of 300,000. To make things worse, this was a decline from the downwardly revised 202,000 in April, which was initially reported as a gain of 247,000.
However, on Friday, the NFP increased by 390,000 in May, above the 328,000 estimate. The unemployment rate held at 3.6%, while a more encompassing jobless rate edged higher to 7.1%.
The markets were confused, albeit weaker as traders worried that the stronger jobs number would make the FED more hawkish. This sentiment was echoed in the bond market, with the 10-year US Treasury yield edging higher to close above 2.9% after falling for two weeks.
All three US indices thus finished lower by the end of the week. The S&P fell 1.2%, while the Dow and the Nasdaq each lost nearly 1%.
Gold and Silver were flat, finishing the week right back to where they started. The main mover in the market was Oil, which has broken out strongly after a two-month consolidation.
EU leaders, in a meeting last Monday, finally agreed in principle to cut 90% of oil imports from Russia by the end of 2022, resolving a deadlock with Hungary over the bloc’s toughest sanction yet on Russia since the invasion of Ukraine three months ago. Oil jumped on the news, as worries of a tighter market already strained for supply amid rising demand ahead of peak US and European summer driving season could be made worse by the new sanctions.
The latest OPEC+ meeting for June ended with the cartel agreeing to increase output, with the boosts however, to include countries like Russia and Nigeria who are unable to raise production. In other words, the increase in output is mere lip service to appease the USA who has been urging OPEC+ to raise output for months.
As China lockdowns ease and the EIA reported a fall in US Crude Oil inventory again, the price of oil shot even higher near the end of the week, with Brent Crude now trading above $120, having gained 4.6% over the week. WTI Crude also moved higher, gaining 3.5% for the week to close at $118.85. Today, Oil prices jumped around 0.8% higher in Asian trading after Saudi Arabia announced that it would raise oil prices effective July. At this point, it would seem like only a recession will be able to bring down oil prices.
Cryptocurrencies, known for their high volatility, was stuck in a tight trading range again, not being able to sustain a move on either side. BTC ended the week at around $29,500 after failing to hold on to its early week gain which saw it move above $32,000. However, crypto prices have edged higher over the weekend after rumours emerged over large BTC buy walls seen at several crypto exchanges. BTC has since bounced back up to around $31,000 at the time of writing, while altcoins are seeing average gains of between 5% to 10% on Sunday. Whether this buoyancy can continue would depend on how the markets react when the US stock market returns.
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A hatred that lasts 100 years
40% #Americans see #China as top #enemy,#Russia 26%
people don't support #war,it's created by #leaders
#EU #illegally confiscate Russian #assets cos need #cash
#Australia:it's time to re-invest in Russian #language, assoc. studies at our #universities
https://salvatoremercogliano.blogspot.com/2024/03/a-hatred-that-lasts-100-years.html?spref=tw
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