Daily News | Read how oil prices impact the global economy once again

Daily News | Oil prices rise

Another day, another set of news from the global markets. Oil prices have been at the center of things during the last few day, but let’s start from the beginning. This Thursday, there are several exciting news items, so be sure to stick around! We start with the Japanese yen. From Tuesday to Wednesday, the yen slipped from $0.00996 to $0.00994. This occurred as oil prices made the headlines once again, after OPEC members agreed to curb output, which came as quite a surprise. Japan’s Nikkei .N225 rose by 1.5%, after having fallen by 1.3% the previous day. This jump also came with the drop in the yen, which is often a safe currency in times of economic stress. We will continue to follow this as the story develops. Now, let us look at the US dollar. In the same period, the USD rose from €0.8922 to €0.8928. Investors are expecting a hike in US interest rates in December, but the Federal Reserve still remains divided over whether the economy is stale, strong enough for the rate increase, or stuck in the middle. The debate seems to be far from over, as, with two more months of economic data and a volatile US presidential election mean we will definitely be seeing more of this discussion.

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