Oil prices ticked up in Monday’s Asian trade, reversing a weak start as a recovery in Chinese demand and a weaker dollar provided support to a market rattled by the prospect possible further U.S. interest rate increases. After initially slipping in early trading, Brent crude futures were up 25 cents, or 0.30%, to $83.03 per barrel by 0700 GMT. West Texas Intermediate crude futures (WTI) ticked up by 23 cents, or 0.30%, to $76.91 a barrel.
Turkey’s current account deficit widened to $9.85 billion in January, data from the central bank showed on Monday, the highest level in four decades of available data, driven by a soaring energy bill and gold imports. It was the highest monthly deficit since 1984, the first year for which such data is available, according to central bank records. Before that time Turkey did not have an economy large enough to generate such a deficit, data shows.
The U.S. government posted a $262 billion budget deficit in February, up 21% from a year earlier, as expenditures grew and revenues fell, due largely to higher tax refunds issued as the Internal Revenue Service worked through a substantial backlog of unprocessed returns. The Treasury Department said on Friday the deficit last month compared to a $217 billion budget gap in February 2022.
The 6M Euribor increased with 1 basis point to 3.46% compared to previous business day. The 10Y Swap decreased with 12 basis points to 3.07% compared to previous business day.
In the attachment, today’s market data on money and capital market rates as well as other rates are presented.
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