-
NZD/USD Falls From Fresh 2022 High as Global Recovery Threatened by Sky-High Oil Prices
Asia-Pacific markets are in for another rough session today as fears that surging oil prices will derail the global economic recovery push investors into safe-haven assets. WTI oil prices surged over 5% overnight as talks over a possible ban on Russian oil imports picked up steam. US gasoline prices soared to a new record high of $4.1014 on Monday, according to GasBuddy data. Commodity prices elsewhere, including gold prices joined, oil’s bullish move. The abrupt rise in raw material prices is likely to put pressure on the world economy. The tech-heavy Nasdaq-100 Index (NDX) sank 3.75% The commodity-linked New ... (full story)