The European Union has moved forward with the Digital Markets Act, which is set to regulate tech giants and set a standard for the rest of the world.
The European Central Bank has announced that EU legislators should not give EU banks exceptions to global rules that are designed to avoid a recession. Namely, there should be no deviations from Basel III rules.
On Monday, the Japanese Yen plummeted on all charts, as the Bank of Japan announced that it would buy an unlimited amount of ten year Japanese Government bonds in an effort to keep the yields of the bonds down. On the news, the USD/JPY hit a new high level.
Data published on Friday revealed that UK retail sales had declined by 0.3% month on month. In addition, consumer sentiment had been declining in the country.
On Friday, the Swiss government joined additional EU sanctions against the Russian Federation over its invasion of Ukraine.
On Friday, the United States and the European Union concluded a Liquefied Natural Gas purchase deal. Namely, the EU would purchase US gas instead of supplies from Russia. The news caused a surge of the stock prices of US gas extraction companies.
Reuters revealed this week that OPEC officials had contacted the EU to express that the ban of Russian oil exports would hurt the consumers.
This week, the European Central Bank revealed that it would decrease banking sector's access to loans by removing some collateral rules.
On Thursday, JD Logistics announced that the company seeks to raise $1.1 billion by issuing new shares.
Markit European Purchasing Managers Indices that were published this week have revealed that Euro Zone countries evaluate the business environment higher than previously expected.
This week, Airbus announced that the company expects India to order new 2,210 airplanes over the span of the next 20 years.
Amazon revealed this week that the company would invest in a new logistics base in Turkey via an investment of more than $100 million.
On Wednesday, the European Commission revealed that it would ease rules and allow compensations of up to 400,000 EUR to EU companies hurt by sanctions on Russia.
On March 24, the Swiss National Bank issued its Monetary Policy Assessment. Monetary easing is set to continue, as the bank's rate remains at -0.75%. Moreover, the bank has clearly stated that it is going to get involved in the Forex markets and will push the Swiss Franc down.
On Thursday, the Canadian government revealed a new plan to increase oil exports in a way that would not hurt the climate.
As the supply of fertilizers from Russia and Belarus was sanctioned, during this week other fertilizer company stocks surged in value.
This week, Tencent posted its slowest sales growth since 2004, as revenues increased by only 8.00%.
Tesla revealed this week that the company had produced its first vehicles in the German gigafactory.
This week, Alibaba announced that the company would increase its share buybacks to a record $25 billion.
On Tuesday, the Canadian Pacific railway company announced a restart of operations, as an agreement has been reached between the firm and worker's union.
This week, the Bank Sentral Pilipinas revealed that the central bank would start monetary tightening in the fourth quarter of 2022.
On Tuesday, Skoda announced that due to the war in Ukraine the company expects more supply issues throughout 2022.
During the early hours of Tuesday's US trading hours, US stock indices reached mid-February high levels. US indices have recovered around 10.00% from the early March low levels.
Reuters reported this week that due to the ongoing war and subsequent closure of ports Ukraine would not be able to export its grain, as 98% of exports are done via ports.