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23 May 2022

EU talks on Russian oil import embargo could extend into June, signals Hungary - BBG

Deadlocked talks between European Union (EU) nations aimed at reaching an agreement on an embargo of Russian oil imports could extend into June, Hungary has signaled according to Bloomberg sources. Hungary is at present the main roadblock to a deal that would see the EU phase out most of its Russian oil imports within the next few months, as it continues to prioritize domestic energy security.

Analysts had previously touted an EU council summit meeting on 30-31 May as a god opportunity for leaders to come to an agreement on the embargo. The latest signals from Hungary will dampen expectations for a month-end breakthrough.

May 23, 2022

USD/CAD Price Analysis: Bounces off two-week low, finds some support near 50% Fibo.

The USD/CAD pair came under some renewed selling pressure on Monday and dropped to over a two-week low, around the 1.2770 region amid broad-based US d

BoE's Bailey: In order to bring down inflation, BoE is prepared to raise interest rates again

Bank of England (BoE) governor Andrew Bailey said on Monday that the central bank is prepared to raise interest rates again in order to bring inflatio