EUR/USD 1.14206
0.038%
Gold 4063.97
-0.329%
Oil 74.109
-0.546%
USD/JPY 162.531
-0.038%
GBP/USD 1.33876
-0.009%
GBP/JPY 217.595
-0.040%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On July 9th, former Bank of Japan official Tsutomu Watanabe stated on Wednesday that the Bank of Japan may accelerate its pace of interest rate hikes later this year, eventually pushing the benchmark interest rate above 2% to curb inflation. Watanabe said, "I believe the final peak of interest rates will be higher than most people currently expect. The terminal interest rate will be around 2%, or slightly higher." Watanabe added, "Policy should be thought about dynamically, not statically." He further stated that the terminal interest rate depends not only on the calculation of the neutral interest rate but also on factors such as inflation overshooting before the Bank of Japan explicitly tightens policy. Watanabe indicated that the authorities had previously adopted a "passive" policy approach, striving to achieve a virtuous cycle of wage increases driving demand-pull price increases. With underlying inflation approaching the 2% target, the committee may shift to a more proactive stance to prevent price overshooting. According to some local media reports at the time, Watanabe was among the potential candidates for Bank of Japan governor in 2023, alongside Ueda.On July 9, the China Securities Regulatory Commission (CSRC) website disclosed that Nanjing ChipVision Microelectronics Technology Co., Ltd. completed its pre-IPO counseling registration with the Jiangsu Securities Regulatory Bureau on July 8, 2026, and plans to conduct an initial public offering (IPO) and list on the stock exchange.On July 9th, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.1730%, and the lowest was 0.7110%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.0060%, and the lowest was 0.9360%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.0140%, and the lowest was 1.0010%.RoboSense announced that its total LiDAR sales reached 719,200 units in the first half of 2026, representing a year-on-year increase of 169.6%. Among them, LiDAR sales in the robotics field reached 282,600 units, a significant year-on-year increase of 510.4%; and LiDAR sales in the ADAS field reached 436,600 units, a year-on-year increase of 98.0%.The yield on Japans 40-year government bonds rose 4.5 basis points to 4.050%.

WTI struggles at $87 as recession worries probe OPEC's forecast and supply deficit fears intensify

Daniel Rogers

Sep 14, 2022 11:42

 156.png

 

After reverting from the weekly high, WTI crude oil traders seek clear direction around $87.50 during Wednesday's Asian session. However, the present hesitation in the price of black gold may be attributable to the mixed concerns regarding the demand-supply matrix.

 

The Organization of the Petroleum Exporting Countries (OPEC) indicated in a monthly report that oil consumption will climb by 3,1 million barrels per day (bpd) in 2022 and by 2,7 million barrels per day (bpd) in 2023, which is unchanged from last month. Despite obstacles such as rising prices, the news also highlighted indications that major economies were performing better than projected.

 

The news that the United States intends to replenish its emergency oil reserves, as well as the German and European move to control Russian oil and gas prices, could also be favorable for energy prices. In addition, rumors that the Western oil deal with Iran is a long way off are bolstering fears of a supply bottleneck and should have helped energy bulls.

 

Tuesday's US inflation statistics revived concerns about the Federal Reserve's fast rate hike and exacerbated recession concerns. Also acting as downward drivers for WTI crude oil are expectations of economic slowdown due to China and Russia-related concerns.

 

In spite of this, the US Consumer Price Index (CPI) for August increased by 8.3% year-over-year, surpassing market expectations by 0.1%. However, the monthly data increased to 0.1%, exceeding the -0.1% projected and the 0.0% shown in previous assessments. The core CPI, or CPI excluding food and energy, likewise exceeded the 6.1% consensus and 5.9% prior to printing at 6.3% for the month in question.

 

It should be mentioned that the weekly prints of the American Petroleum Institute's (API) industry inventory report also contributed to the commodity's downfall. The API Weekly Crude Oil Stock climbed to 6,035 million during the week ending September 9, up from 3,645,000 the previous week.

 

In the future, the price of black gold may stay under pressure due to a stronger US dollar and economic troubles. Before today's official weekly inventory data from the U.S. Energy Information Administration, however, the supply crisis concerns could test the bears (EIA). Thursday's US Retail Sales for the month of August and Friday's preliminary reading of the September Michigan Consumer Sentiment Index will also warrant close attention.

Suggestion