Energies
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OPEC+ is considering its biggest production cut since 2020
OPEC+ is considering its biggest production cut since 2020 as it tries to stabilize oil prices, a move that risks cranking up tensions with Washington. The group is set to discuss a cut to its production limits of as much as 2 million barrels a day, using current baselines, delegates said. Still, in reality theContinue Reading
Dollar is shaking despite the stable market
The U.S. dollar retreated in early European trading Tuesday with risk sentiment on the rise, while sterling retained its recent gains after the U.K. government’s policy U-turn. Traders are beginning to wonder if the slowdown visible in the U.S. and world economies will force the Federal Reserve to adjust its rate-hiking trajectory lower. This hasContinue Reading
OPEC+ are considering adjusting output to increase prices
OPEC+ might consider cutting oil output by more than 1 million barrels a day, which might be the largest since the pandemic. A larger-than-expected reduction would reflect the scale of the producer group’s concern that the global economy is slowing fast in the face of rapidly tightening monetary policy. U.S. Dollar Index (USDX) The U.S.Continue Reading
Bank of England; Between Inflation and Exchange ates
The Bank of England, trying to stabilize the pound’s rapid descent, said it would buy long-dated government bonds. Meanwhile, the yield on the U.S. 10-year Treasury bill backed off of 12-year highs and Germany’s benchmark 10-year government bond yield fell from an 11-year high. U.S. Dollar Index (USDX) An easing dollar and Treasury yields cameContinue Reading
Sterling is Getting Closer to the Parity
Bank of England Chief Economist Huw Pill said overnight that the central bank is likely to deliver a “significant policy response” in response to finance minister Kwasi Kwarteng’s huge tax cut plans. Meanwhile, the sterling is getting closer to the parity levels with only 700 pips distance. U.S. Dollar Index (USDX) Markets forced the dollarContinue Reading
