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On May 2, a federal judge in the United States ruled on May 1 that the Trump administrations invocation of 18th-century wartime laws to deport Venezuelan immigrants it identified as criminals was "illegal." Fernando Rodriguez, a federal judge in Texas, wrote in his ruling that the Trump administrations invocation of the 1798 Foreign Enemies Act to deport immigrants on the grounds that the United States was being invaded by Venezuelan gangs "went beyond the scope of the statute" and was therefore "illegal." The ruling pointed out that according to the usual meaning of the wording of the law, "invasion" refers to an attack by "military force," which is inconsistent with US President Trumps accusation of the activities of the Venezuelan gang "Aragua Train" in his executive order invoking the Foreign Enemies Act.Danske Bank: Although the risk of a potential recession in the United States has attracted attention, the impact on economic growth in Europe, including the Nordic countries, is expected to be mild.On May 2, Stephanie Brinley, deputy director of the automotive intelligence department and chief automotive analyst at S&P Global Automotive, said that the uncertainty caused by the US governments tariff policy is seriously affecting manufacturers long-term planning and will cause consumers to bear more costs. S&P Global predicts that due to the tariff policy, US light vehicle sales will decrease by more than 640,000 units in 2025. For manufacturers, the practical difficulty of adjusting the industrial chain cannot be ignored. Whether it is factory relocation or parts replacement, it is not a task that can be completed in one year. The so-called "industry return to the United States" is by no means easy.Kia Motors sold 274,437 vehicles worldwide in April, up 5% year-on-year.MINISO (MNSO.N): On May 1, 2025, it spent US$244,500 to repurchase 54,000 shares.

WTI bulls enter at critical support and eye the Federal Reserve

Daniel Rogers

Sep 20, 2022 14:31

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West Texas Intermediate is currently up 0.11 percent on the day and has traded between $82.11 and $86.21 bbls. The black gold was reversing early offers that led to the lows even as US dollar bulls came in as markets awaited the Federal Reserve and a multitude of other central banks this week.

 

Fed funds futures have priced in a 79% chance of a 75-basis-point rate hike this week and a 21% chance of a 100-basis-point boost at the conclusion of the two-day Fed policy meeting. Nonetheless, some analysts predict that the central bank could move to increase interest rates by a full percentage point after August inflation exceeded expectations. The DXY index indicates that the demand for safe haven assets, such as the U.S. dollar, is close to its 20-year high. As a result, the demand for oil may decrease, and the dollar's demand as a safe haven asset nears a 20-year high.

 

Nonetheless, China eased a two-week lockdown on the 21 million residents of Chengdu, restoring normal activity to the capital of Sichuan, which may have contributed to the increase in oil prices at the beginning of the week. The Department of Energy said on Monday that the United States will sell 10 million barrels of oil from its strategic reserve for delivery in November.

 

"The markets are increasingly pessimistic about the likelihood of a rapid resolution to the Iran issue, which has resulted in a revival in energy supply risks despite the continuous decline in prices. As markets reprice supply risk premiums, the lack of liquidity might amplify crude's upward volatility, according to TD Securities analysts.


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