EUR/USD 1.16150
0.233%
Gold 4473.24
1.944%
Oil 90.093
1.096%
USD/JPY 155.702
-1.892%
GBP/USD 1.35030
0.131%
GBP/JPY 210.249
-1.765%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
September 3 - Nepals National Disaster Risk Reduction Authority posted on social media that as of 7 p.m. local time that day, 1,259 bodies had been recovered in the landslide-affected areas of the country, and 5,083 people remained missing.September 3 – France is bracing for its fifth heatwave of the year. This extreme heat has devastated forests, dampened the peak tourist season, and destroyed crops in Europes largest agricultural producer. Virginie Schwarz, CEO of the French Meteorological Service, stated that France has experienced its hottest summer on record, with the longest heatwave on record, including 53 days of extreme heat this year. France has also suffered severe drought and forest fires, with over 96,000 hectares of vegetation already burned, more than 2.5 times the area burned in all of 2025. French Ecology Minister Monique Barbut stated that this years heatwave could cost France over €15 billion ($17.3 billion). France plans to announce a multi-million euro aid package in the coming days to compensate farmers who suffered severe crop losses due to drought and the heatwave this summer.September 3rd - According to Politico, German Defense Minister Pistorius will meet with US Defense Secretary Hergses in Washington this month. This is an unexpected turn of events, as Hergses had previously declined Pistoriuss request to visit earlier this year. Two informed NATO defense officials and a US defense official revealed that Pistorius will attend the rollout ceremony of the F-35 fighter jets purchased by Germany during his visit to the US and will hold talks with Hergses. Given Hergses previous refusal to meet with Pistorius, and the tense relations between the US and Germany due to the wars in Iran and Ukraine, this meeting is of great significance.French unions have called for civil servants to strike on September 29.September 3rd - Data released today shows that the S&P Global Services PMI rose to 56.5 in August from 54.6, lower than the preliminary reading of 56.8, but still recorded a significant increase, reaching its highest level since December 2024. While service sector activity grew strongly, manufacturing continued to grow, albeit at a slower pace. The survey data suggests that the US economy is currently outperforming other global economies. Meanwhile, the Institute for Supply Management (ISM) Services PMI rose to 55.4 in August from 54.1, higher than the expected 54.1, reaching its highest level since February 2026. Usamah Bhatti, an economist at S&P Global Market Intelligence, stated, "The faster growth in overall private sector business activity in August signals a clear shift and acceleration in the US economy. However, supply delays remain high, particularly for manufacturers, and overall price pressures remain above historical averages."

WTI advances toward $75.00 as China-related demand optimism offsets recession fears

Daniel Rogers

Jan 09, 2023 11:55

244.png 

 

In the early hours of Monday, WTI steadily climbs near the intraday high of $74.70 as bullish emotion competes with economic slowdown worries. Despite this, the weaker US Dollar and a light schedule allow buyers of black gold to maintain control following Friday's mixed performance.

 

In spite of this, the risk profile remains elevated in light of China's reopening of its borders after a three-year closure. On the same line, Guo Shuqing, party secretary of the People's Bank of China, made his remarks (PBOC).

 

Reuters, transmitting China unlock news, claimed that "about 2 billion journeys are anticipated this season, roughly doubling the volume of previous year, and recovering to 70% of 2019 levels," citing a statement from the Chinese government.

 

On the other side, PBOC's Shuqing stated, "The world's second-largest economy is likely to recover rapidly due to the country's optimal Covid-19 response and the continued implementation of its economic policies."

 

The US Dollar Index (DXY) fell the most in three weeks the day before, down 0.20% intraday to 103.70 as of press time, as the US employment report failed to excite greenback purchasers and the US activity numbers stoked fears of an economic slowdown. It's worth mentioning that the previous day's disappointing US wage growth, ISM Services PMI, and Factory Orders weighed on Treasury bond yields and the DXY.

 

On a different page, reports regarding a delay in the restoration of the colonial pipeline and the Russia-Ukraine conflict appear to also benefit energy buyers. Traders fear additional rate hikes ahead of the release of the Consumer Price Index (CPI) for December from China and the United States on Wednesday and Thursday, respectively, which tests the positive momentum.

Suggestion