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On August 13, local time, the Ukrainian State Railways issued a statement saying that a passenger train in Odessa Oblast was attacked by a drone, killing the train driver and his assistant. The statement said the train was carrying 340 passengers at the time of the attack, and all passengers and remaining crew members have been safely evacuated; there were no other injuries.The President of Finland: I spoke with British Prime Minister Burnham, and we discussed the situation in Ukraine and our support for Ukraines defense. Finlands relationship with the UK, and our defense cooperation, is very strong. The UK is an important player in the region.August 13th - According to data from the China Passenger Car Association (CPCA), from August 1st to 9th, the national passenger car market retail sales reached 317,000 units, a 22% decrease compared to the same period last August and a 3% decrease compared to the same period last month. The cumulative retail sales this year totaled 10.49 million units, a 20% decrease year-on-year. From August 1st to 9th, national passenger car manufacturers wholesaled 276,000 units, a 24% decrease compared to the same period last August and a 2% increase compared to the same period last month. The cumulative wholesale sales this year totaled 15.086 million units, a 5% decrease year-on-year.Japanese Prime Minister Sanae Takaichi: Putins visit to the island makes the restoration of Japan-Russia bilateral relations more difficult.Japanese Prime Minister Sanae Takaichi: Strongly protests Putins visit to the Northern Territories.

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

Daniel Rogers

Jan 09, 2023 11:55

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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.

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