The dollar gave back the previous day’s advances against the euro and pound but held some gains against the yen on Tuesday as traders’ attention turned to US inflation data due on Wednesday for signs of how close US rates are to peaking.

Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in US crude stockpiles.

Oil steadied on Monday, after rising for three straight weeks, as looming supply cuts from Saudi Arabia and other Opec+ producers balanced concern about weakening global growth that may dampen fuel demand.

The Russian rouble on Friday fell to its lowest rate against the dollar in a year, dipping to 82 rubles to the US unit on the Moscow Stock Exchange (MOEX).

World food prices are still high but have fallen by a fifth compared to a year ago when prices soared to a monthly record high after Russia invaded agricultural powerhouse Ukraine, UN data showed on Friday.

 Oil remained on track for weekly gains on Thurday, with further production cuts targeted by Opec+ and a drop in US oil inventories overshadowing fears over global economic growth.

German industrial production rose more than expected in February thanks to a strong bounce in the car industry as the sector begins to shake off supply issues, official data showed Thursday.

The resilience of Russia’s economy has over the past year surprised many observers as Moscow adjusts to unprecedented Western sanctions over its assault on Ukraine.

The dollar wallowed near two-month lows on Wednesday after weak data supported the view that the Federal Reserve may not need to raise rates much further, while the New Zealand dollar hit two-month highs after a larger-than expected rate hike.

The surprise oil output cuts announced on Sunday by Opec+ members illustrate their greater power over the market, given limited supply growth by other producers such as US shale firms and still-growing demand despite the energy transition.

State-run Bangladesh Agricultural Development Corporation (BADC) yesterday signed a memorandum of understanding (MoU) with National Group, a private entity in Russia, for the export of potato to Russia, according to the agriculture ministry. 

Global factory activity weakened in March as consumers feeling the pinch from rising living costs cut back, surveys showed on Monday, suggesting a deteriorating outlook will remain a drag on economic recoveries and keep policymakers on their toes.

The dollar rose against other major currencies on Monday as fears over inflation resurfaced after a surprise announcement by major oil producers to cut production targets further, with traders wagering the Federal Reserve may need to increase interest rates again at its next meeting.

Eurozone inflation slowed sharply in March while US price increases eased last month as well, official data showed Friday, offering some relief to policymakers.

Emirates and American carrier United recently activated their codeshare partnership, allowing Emirates customers to enjoy easier access to an expanded choice of US destinations. 

Britain on Friday said it had struck a deal to join an 11-country trans-Pacific trade pact which includes Japan and Australia as it looks to deepen ties in the region and build its global trade links after leaving the European Union.

Inflation is expected to ease significantly in Germany in March on the back of lower energy prices, preliminary data from six economically key states in the country showed on Thursday.

Russian oil sales to India surged more than twentyfold last year as European buyers turned to other markets following the conflict in Ukraine, Russia’s deputy prime minister said Tuesday.

Britons already reeling from the biggest rise in food prices since 1977 may have to get used to shortages of fresh vegetables as soaring costs and unpredictable weather hit domestic production.

British consumer confidence rose this month to its highest level in a year, helped by improving sentiment around the economy and despite persistent gloom over personal finances, a survey showed on Friday.