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On January 30th, the U.S. Treasury Department announced on Thursday that it will strengthen its scrutiny of foreign exchange transactions by various countries, including any attempts to prevent their currencies from depreciating against the dollar, but did not accuse any major trading partners of currency manipulation. In its latest semi-annual currency report, the Treasury Department stated that no major trading partner met all three criteria of the enhanced currency transaction analysis in the second half of 2024 and the first half of 2025. Due to Thailands growing global current account surplus and trade surplus with the U.S., the Treasury Department added Thailand to its "monitoring list" for close monitoring. With the addition of Thailand, the number of economies on the monitoring list has increased to 10, while Japan, South Korea, Vietnam, Ireland, and Switzerland remain on the list.January 30th - According to Iranian sources on the 29th, the Tehran municipal government has initiated a plan to construct wartime shelters, including converting underground parking lots into dual-purpose spaces for both peacetime parking and wartime shelter. Tehran Mayor Zarqaani stated that following the "12-Day War," the construction of shelters, the installation of air raid sirens, and the protection of civilians in the event of potential war have been included in the citys development plan, which includes converting underground parking lots into shelters in emergencies. Two pilot sites have been identified, and the program will be gradually rolled out to other communities in the future.Foreign central banks held $19.95 billion in U.S. Treasury securities in the week ending January 30, compared with $9.863 billion in the previous week.Apple (AAPL.O) reported net sales of $30.01 billion in its services business for the first fiscal quarter, below market expectations of $30.07 billion.Apple (AAPL.O) reported net iPad sales of $8.6 billion in its first fiscal quarter, exceeding market expectations of $8.13 billion.

Oil Prices Continue to Fall in Early Trade

Aria Thomas

Apr 11, 2022 09:33

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The market has been closely following events in China, where authorities have confined Shanghai, a metropolis of 26 million people, to a "zero tolerance" policy for COVID-19. China is the world's largest importer of oil.


The International Energy Agency's (IEA) member states will release 60 million barrels over the next six months, with the US matching that amount as part of the 180 million barrel release announced in March.


The publication might also prevent producers, notably OPEC and US shale producers, from pursuing production increases even at prices around $100 a barrel, ANZ Research analysts said in a report.


However, the OPEC+ group of oil exporting countries has shown no sign of increasing its production objectives beyond the 400,000 barrels per day added monthly as part of the reinstatement of supply limits.


The IEA release would provide around 2 million barrels per day of supply for the next two months – plus an additional 1 million barrels per day from the United States for the next four months. It is unknown if this will compensate for the shortage of Russian oil after that country's invasion of Ukraine.


Russia's oil and gas condensate output declined to 10.52 million barrels per day (bpd) in April from an average of 11.01 million bpd in March.

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