Chinese lockdowns are easing

News of the day, Monday, April 18

Inflation in Germany will remain at a level of 7-8%, as Deutsche Bank Vice President Karl von Rohr said. He predicts that the restriction of Russian energy sources would cause an increase to more than 10%. "Our forecast is that we will be at an inflation rate of 7 to 8 percent over the course of the year. In the event that energy imports are more limited, we could even see 10 percent and more." — Rohr said.

After a nearly 3-week Covid lockdown, manufacturers started to prepare for the reopening of their plants in Shanghai. The recent Covid flare and “zero-Covid” measures taken by the Chinese government once again have damaged the economy and global supply chains. The people of Shanghai have encountered income losses, lack of food supply, and separation of families. Tesla has called workers to its Shanghai plant to restart production, while SAIC Motor said it starts its production resumption plans.

The price of Brent crude is $111.40, WTI — $106.00, GBP/USD — 1.3018, EUR/USD — 1.0796, and gold costs $1993.62 per ounce.