EUR/USD 1.17158
0.032%
Gold 4599.68
0.055%
Oil 97.308
-0.180%
USD/JPY 159.571
-0.027%
GBP/USD 1.35210
0.026%
GBP/JPY 215.762
0.008%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Xi Jinping sent a congratulatory letter to the Shanghai Cooperation Organisation Green and Sustainable Development Forum.On April 29th, the Ministry of Civil Affairs and 11 other departments jointly issued the "Opinions on Promoting the Development of Mutual-Assistance Elderly Care Services," clarifying the definition of mutual-assistance elderly care services at the national level and proposing development goals. Mutual-assistance elderly care services refer to voluntary, non-profit elderly care services provided to the elderly through mutual assistance among neighbors or village (community) residents. The Opinions specify that by 2030, the coverage rate of urban and rural community elderly care service facilities with mutual-assistance service functions will be no less than 70%, the work mechanism for visiting and caring for elderly people with special difficulties in townships (streets) will be fully established, mutual-assistance elderly care services will be widely carried out, and the sustainability of services will be significantly enhanced.On April 29th, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.2550%, and the lowest was 0.7470%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.0590%, and the lowest was 1.0010%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.1860%, and the lowest was 1.0020%.As of 09:30 Beijing time, WTI crude oil futures rose 0.26%, while US natural gas futures fell 0.45%.On April 29th, futures market news: Shanghai silver futures contracts fell over 2% and Shanghai gold futures fell over 1% in early trading. A research report from Dongwu Futures pointed out that precious metals fluctuated downwards. The diplomatic stalemate in the US-Iran conflict in the Middle East, persistently high oil prices fueling inflation concerns, and the possibility that the Federal Reserve will remain on hold at its upcoming policy meeting all put pressure on gold and silver prices. Market sentiment is cautious ahead of Fed Chairman Powells final press conference and a clearer picture of the Iranian situation. This week, key attention should be paid to Middle East geopolitical developments, the Feds interest rate meeting, and PCE data. Furthermore, with the long holiday approaching, risk management is crucial to prevent adverse effects from overseas market disturbances during the holiday period on post-holiday positions.

In a risk-on environment with a weaker US dollar, WTI consolidates weekly losses above $83,000

Alina Haynes

Sep 09, 2022 17:17

 153.png

 

The price of WTI crude oil is higher for the second day in a row while paring the weekly losses at the eight-month low on Friday during the Asian session. However, by the time of publication, the black gold has reached a new intraday high of around $83.50.

 

Recent news reports from the US Treasury Department regarding the oil price cap appear to have helped drive up energy prices together with stronger sentiment and a weaker US dollar. According to the US Treasury source, "the oil price cap should be set above the marginal production cost, taking into account past Russian oil prices."

 

In other news, stronger sentiment and slow US Treasury yields cause the US Dollar Index (DXY) to fall intraday by 0.55%, to 109.05 at the latest. It's interesting to see that after a solid day, the US 10-year Treasury yields are still stuck around 3.32%, while the S&P 500 Futures tracks Wall Street's gains at approximately 4,020.

 

Recent market sentiment appeared to be aided by remarks made by US Treasury Secretary Janet Yellen, which suggested that trade relations between the US and China were set to improve. The market's attitude also appeared to have been aided by recently stronger US statistics and expectations that global central bankers will be able to offset the shock caused by inflation with a comprehensive strategy and higher rates. The Wall Street Journal (WSJ) article, on the other hand, raises some concerns about the future of China's technological enterprises and casts some doubt on the optimism.

 

A price document examined by Reuters on Friday revealed that Kuwait has decreased the official selling prices for its oil grades for the month of October from the previous month. Before the present program ends in October, US Energy Secretary Jennifer Granholm said the administration of US President Joe Biden is considering whether additional releases of crude oil from the country's emergency stockpiles are necessary. Prior to that, a Department of Energy official reportedly told Reuters that the White House was only considering releasing the 180 million barrels from the US Strategic Petroleum Reserve (SPR) that the president had already stated.

 

It should be highlighted that the recent decline in China's inflation data, coupled with the hawkish central bank activities, presents a challenge to oil purchasers. Both China's Producer Price Index (PPI) and Consumer Price Index (CPI) show unfavorable results for August. However, compared to 2.8% market expectations and 2.7% in the prior year, the headline CPI declined to 2.5% YoY, and the PPI fell to 2.3% from 3.1% projected and 4.2% in the preceding year.


Suggestion