EUR/USD 1.15165
-0.111%
Gold 4514.26
3.079%
Oil 97.553
5.279%
USD/JPY 160.141
0.248%
GBP/USD 1.32713
-0.430%
GBP/JPY 212.533
-0.180%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to Iranian state media, Iranian Parliament Speaker Qalibaf stated that symbols of American prestige, from F-35 fighter jets to aircraft carriers and regional military bases, have suffered significant blows.According to Iranian state media, Iranian Parliament Speaker Ghalibaf stated that Trump has consistently failed to gain cooperation from European countries.According to Iranian state media, Iranian Parliament Speaker Qalibaf stated that the strikes continue, Irans missiles are poised to launch, and Irans resolve and conviction are even stronger.On March 29th, local time in New Zealand, the first two satellites of the European Space Agencys (ESA) Celeste mission were successfully launched from the Mahia Peninsula in New Zealand on the evening of the 28th. These satellites will be used to explore low Earth orbit-based satellite navigation, supplementing the European Galileo satellite navigation system located in medium Earth orbit. According to a press release from the ESA, the two satellites were launched from the launch site in New Zealand aboard an Electron rocket from Rocket Lab. The two satellites will conduct tests in the L-band and S-band. Subsequent launches in 2027 are planned to complete the Celeste mission with a full complement of 11 satellites in orbit.On March 29th, it was learned from the Beijing Financial Regulatory Bureau that Beijing has taken the lead nationwide in launching the development and application of commercial insurance products for intelligent connected new energy vehicles. The new products largely follow the existing new energy commercial vehicle insurance system, adhering to the principle of "overall stability with partial optimization." They primarily provide risk protection for specific intelligent driving scenarios and software/hardware losses that are of concern to consumers and automakers, and can be uniformly adapted to all levels of intelligent connected new energy vehicles from L2 to L4. For example, existing car insurance products mainly define drivers based on the basic scenario of "human driving," which is not fully applicable to L3 and L4 level "human-machine co-driving" or "machine driving" scenarios. Furthermore, for L2 level assisted driving vehicles, some consumers upgrade their assisted driving systems at their own expense after purchasing a new car, but existing car insurance products do not cover this portion of the loss, requiring further optimization.

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