Commodities futures markets have been battered by a series of political developments that have led to disruptions to trades.
Here are the key events this week.
U.S. Federal Reserve Chair Janet Yellen speaks to the media at the Federal Reserve Bank of Dallas in Dallas, Texas, U.P. March 23, 2021.
(Photo: Kevin C. Cox, Getty Images)The Federal Reserve has raised interest rates on the U.K. and Australia to try to bolster growth.
On Wednesday, the Bank of England also announced that it will start selling bank bonds, which would add to the financial markets woes.
The market has reacted by jumping to $US50 per share, the highest price for a single day since the market opened at $US42.15 on March 17, 2020.
A weaker dollar, lower oil prices and a potential increase in the Federal Communications Commission’s (FCC) proposed net neutrality rules all play into the market’s reaction.
On Friday, the Federal Deposit Insurance Corporation announced that, with its help, the Fed will buy $US40 billion in bonds to help the banks cover their obligations.
The move, which has been welcomed by some market watchers, has been widely criticized as a political move and by some investors, as well.
The U.N. is considering a new round of climate-change measures.
The UN Climate Change Conference kicks off in Bonn, Germany, March 28, 2021.(Photo: Peter Dejong, EPA)The World Health Organization (WHO) is expected to release a new set of draft global health guidelines on Tuesday that will include tougher penalties for the use of greenhouse gas emissions and more financial aid to poorer countries.
The United Nations has been trying to reach a deal on the issue that would take effect in 2020.
The draft document was leaked to the New York Times, which published the document on Wednesday.
The WHO says the draft is a preliminary version of the new international code and will likely be updated.
Oil prices hit their highest level since March 2020.
Brent crude oil is up about 10% this week to $46.88 a barrel on the New Orleans Mercantile Exchange.(Photo by: Steve Helber, AP)Oil prices rose more than 10% on Wednesday as global demand continued to rise and the price of crude oil surged higher.
The price of oil is currently trading above $US60 a barrel.
The rally in crude oil prices has coincided with the rise of President Donald Trump’s trade policies, which have made it difficult for companies to sell goods abroad and hurt the U of A’s ability to compete globally.
The trade wars have also caused a sharp rise in fuel and other fuel costs for U.