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The US September New York Fed manufacturing index and Canadas July wholesale sales monthly rate will be released in ten minutes.On September 15th, Loongson Technology announced on its interactive platform that the development of its first GPGPU chip, the 9A1000, is nearly complete, with tape-out expected within the third quarter. Its success will depend on test results after tape-out.September 15: Building materials trading volume reached 117,600 tons, a 1.03% increase from the previous trading day. September 12: Building materials trading volume reached 116,400 tons, a 26.66% increase from the previous trading day. September 11: Building materials trading volume reached 91,900 tons, a 1.18% decrease from the previous trading day. September 10: Building materials trading volume reached 93,000 tons, a 8.28% decrease from the previous trading day. September 9: Building materials trading volume reached 101,400 tons, a 10.03% decrease from the previous trading day. Last weeks average: Building materials trading volume was 10,308 tons.Barclays (BCS.N) will undergo a major renovation of its New York headquarters and redesign its trading floor.On September 15th, European Central Bank (ECB) Executive Board member Schnabel stated that the ECB should maintain current interest rates given the upward risks to prices. Schnabel noted that small deviations from the 2% inflation target should be tolerated and that the ECB is currently in a favorable position. She stated, "Monetary policy should remain stable. Upward inflation risks dominate, with tariffs, services inflation, food inflation, and fiscal policy all likely contributing factors." Sources familiar with the matter stated that unless the eurozone experiences another major shock, borrowing costs are expected to remain at current levels for some time.

Oil Prices Have Recovered After A Precipitous Decline Due to Fears About China's Consumption

Aria Thomas

Apr 26, 2022 09:56

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Both prices closed around 4% lower on Monday, with Brent falling as high as $7 per barrel during the session and WTI falling about $6 per barrel.


In China, lockdowns in Shanghai to combat COVID have entered their fourth week. Meanwhile, instructions for extensive testing, including in Beijing's major shopping center, have sparked fears of additional lockdowns in the Shanghai manner.


"The impact of Chinese lockdowns is over a million barrels per day, and the testing of 12 districts over the next five days will determine the next significant move in crude prices," stated Edward Moya, a senior market analyst at OANDA.


The US dollar also reached a two-year high on Monday, increasing the price of oil for holders of other currencies.


"Supply concerns are not the major concern of energy dealers, and now you have a surging currency exerting additional pressure on all commodities," Moya of OANDA said.


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