EUR/USD 1.18052
0.282%
Gold 5201.51
1.135%
Oil 65.533
-0.745%
USD/JPY 156.392
0.317%
GBP/USD 1.35513
0.467%
GBP/JPY 211.936
0.797%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to Politico: Netflix (NFLX.O) CEO Ted Sarandos will visit the White House on Thursday to discuss the acquisition of Warner Bros. Discovery (WBD.O).Federal Reserve Chairman Mossallem: I expect the Fed to maintain its commitment to its dual mandate under the new chairman.Federal Reserves Mussalem: I look forward to knowing what Warshs priorities will be.Federal Reserve Chairman Mossallem: Financial conditions are accommodative, with regulatory easing and fiscal tailwinds.On February 26th, Federal Reserve Chairman Schmid stated on Wednesday that excessive inflation remains a key issue the Fed needs to address, but he did not specify how monetary policy should respond. Schmid said, "I think we still have work to do on inflation," while adding, "I think the employment situation is quite good." He did not explain how these factors influence his assessment of the monetary policy outlook. Schmid had previously expressed skepticism about the Feds rate cuts last year, when officials lowered the target interest rate range to 3.5% to 3.75%. Markets expect further rate cuts this year, but officials have provided little guidance. Schmid also discussed the Feds balance sheet, saying internal discussions focused on understanding the appropriate level of reserves needed for the financial system. He pointed out that the large amount of mortgage-backed securities held by the Fed in its past bond-buying activities continues to depress home borrowing costs. Given the current size of the Feds mortgage-backed securities holdings, mortgage rates "may be 75 to 100 basis points lower than they would have been."

Despite an increase in US official oil stock statistics, WTI extends its rebound to near $79.00

Daniel Rogers

Dec 30, 2022 11:20

 截屏2022-12-29 下午4.54.13_1024x576.png

 

West Texas Intermediate (WTI) futures on the New York Mercantile Exchange (NYMEX) have continued their recovery move over the important resistance level of $78.50 during the Tokyo morning session. As a result of supply concerns due to a prohibition on oil sales from Russia to G7 nations and the European Union and anticipation of a recovery in demand predictions in China as a result of reopening steps, the oil price experienced buying activity around $77.00.

 

Russia has no intention of supplying fossil fuels at prices lower than those prevailing on the market, therefore oil supply is projected to remain a key concern. Without a question, western nations are actively seeking alternatives to Russia to meet their oil demand, but their reliance on Russian oil will keep them in agony in the medium run.

 

Meanwhile, the sheer velocity of reopening steps by the Chinese government in Beijing has caused short-term chaos owing to a sharp increase in the number of infections; however, Covid-19 may have reached its peak and the economy will restore its forward momentum.

 

According to a letter from Goldman Sachs economists, "For oil prices, we remain bullish on oil prices in the immediate future given the possibility for increasing China demand, and reduced supply growth from US shale due to discipline/tight service markets, and OPEC+ quota reduction."

 

The United States Energy Information Administration (EIA) stated on Thursday, for the week ending December 23, that the oil price rebounded following a short decline due to an increase in oil stockpiles. The official US agency reported an increase of 0.718,000 million barrels in oil inventories, whereas the market had anticipated a decrease of 1.52 million barrels.

Suggestion