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On March 13th, betting on clean energy stocks seemed foolish after Trumps return to the White House last year. But for Helen Jewell, Chief Investment Officer for International Fundamental Equities at BlackRock, the clean energy rally is poised to continue, as the US-led Middle East wars provide a stark reminder of the worlds deep dependence on the regions oil and gas. She said the strikes against Iran "highlight the strategic importance of energy independence, grid resilience, and secure domestic power generation. Given the need for rapid, secure incremental growth in national grids, clean energy stocks are poised to continue their upward trend." Jewell stated, "We are very clear that for AI to succeed, you need such a massive amount of energy that the story is no longer about replacing traditional energy, but about coexisting with traditional energy." A year has passed: as of Wednesdays close, the S&P Global Clean Energy Transition Index surged 61%, far exceeding the S&P 500s 23% gain. It also outperformed the "Big Seven" stocks 39% gain and nearly doubled the gains of oil stocks—despite oil prices rising above $100 due to the Iran war.March 13 - Ship tracking data shows that approximately 30 oil tankers carrying Russian crude oil and fuel in Asian waters are now eligible for trade following the U.S.s issuance of temporary purchase waivers for goods already en route. Data shows these vessels are carrying at least 19 million barrels of Russian crude oil and 310,000 tons of refined petroleum products. The refined products mainly consist of naphtha used in plastics production and some diesel fuel; prices for these products have surged since Irans de facto blockade of the Strait of Hormuz. Tracking data shows these vessels are currently in a "standby" status – meaning they have no definite destination or are en route to Singapore and Malaysia, areas where tankers typically remain awaiting cargo deals. Kpler senior crude oil analyst Muyu Xu stated that the U.S. decision is "buying time for countries and refiners to cope with supply shocks from the Middle East." She noted, "Countries will buy any resources they can find – energy security is a top priority for all countries."Japanese Ministry of Industry and Trade officials have requested that refineries draw on Japans oil reserves and release them to the market starting next week to meet domestic demand.The Israeli military claims it has attacked the Zalariyah Bridge over the Litani River in Lebanon.March 13th - Geely has announced that its G-ASD intelligent driver assistance system has received the UNR171 international certification from the United Nations and the European Union. This certification, jointly issued by the China Automotive Technology and Research Center (CATARC) and IDIADA, marks G-ASD as the first high-level driver assistance system from China to successfully go global. The first Geely G-ASD model to pass UNR171 certification is expected to officially hit the roads in Europe this June. In the future, this system will fully power brands such as Geely, Jike, Lynk & Co, and Lotus.

As risk aversion grows as measured by the DXY and as attention turns to the US NFP, USD/CHF goes closer to 0.9600

Alina Haynes

Aug 03, 2022 14:51

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In reaction to the dismal market environment, the US dollar index (DXY) has gained, and the USD/CHF pair is swiftly approaching the key level of 0.9600. After defending Monday's low around 0.9480, the pair had a greater reverse on Tuesday, as the risk-aversion theme strengthened the attraction of the DXY.

 

Following US House Speaker Nancy Pelosi's travel to Taiwan to support Taiwan's local government despite China's wishes, tensions between the US and China have increased. In reaction to the death threats made against Pelosi during her private travel to Taiwan, the US is anticipated to adopt sanctions against China, which encouraged the gloomy market sentiment.

 

In the meanwhile, the DXY has achieved a three-day high of 106.55, although the gain may wane ahead of Friday's US Nonfarm Payrolls (NFP) data. According to market expectations, the U.S. economy added 250,000 jobs to the labor force in July.

 

During a brief period, a number of significant IT companies in the United States abandoned the hiring process, resulting in payroll statistics that multiplied. If the same thing occurs, the Federal Reserve (Fed) will be compelled to speak less about policy rates.

 

On the Swiss franc front, investors anticipate the release of the Consumer Price Index (CPI) numbers. An early estimate of the annual inflation rate places it at 3.5%, little higher than the prior estimate of 3.4%. As a result, the Swiss National Bank (SNB) will be compelled to boost interest rates.


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