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Market news: An earthquake warning has been issued in Mexico City.February 9th - Japanese Finance Minister Satsuki Katayama stated that she would communicate with financial markets on Monday, if necessary, to calm market sentiment as soon as possible. However, she also warned of the possibility of intervention in the yens exchange rate at any time. Katayama revealed that she maintains close contact with US Treasury Secretary Bessenter, sharing the responsibility of maintaining the stability of the dollar-yen exchange rate. She explained that Japan and the US have signed a memorandum of understanding stipulating that decisive measures can be taken against rapid fluctuations deviating from fundamentals, which certainly includes intervention. She reiterated that she is closely monitoring financial markets, while emphasizing her commitment to responsible fiscal policy and stressing the governments strong focus on fiscal sustainability and its desire to maintain it.February 9th - According to NHK, the ruling coalition of the Liberal Democratic Party and the Japan Restoration Party won a majority of seats in the House of Representatives election held on the 8th.Musk: Teslas electric semi-truck will begin mass production this year.February 9th - Goldman Sachs trading arm stated that after a rebound in U.S. stocks last Friday, almost recovering the weeks brutal losses, this week will face further selling pressure from trend-following algorithmic funds. The S&P 500 has broken through a short-term trigger point, prompting commodity trading advisors (CTAs) to sell stocks. Goldman Sachs expects these systematic strategies, which track stock market movements rather than fundamental factors, to remain net sellers in the coming week, regardless of market direction. Goldman Sachs stated that if the stock market falls again, it could trigger approximately $33 billion in selling this week. If market pressure persists and the S&P 500 falls below 6707 points, there could be as much as $80 billion in systemic selling over the next month. In a stable market environment, CTAs are expected to sell approximately $15.4 billion in U.S. stocks this week, and even if the stock market rises, these funds are still expected to sell approximately $8.7 billion.

The price of oil decreases, taking a pause from a sharp surge

Charlie Brooks

Jul 19, 2022 10:30

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Oil prices declined on Tuesday, taking a breather after rising more than $5 a barrel in the previous session, as a weakening dollar boosted buying excitement and investors speculated that the U.S. Federal Reserve may not hike interest rates as anticipated.


Brent oil futures for September delivery fell 69 cents to $105.58 per barrel at 00:36 GMT. The 5.1% increase on Monday was the greatest percentage gain since April 12.


WTI oil futures for August delivery fell 65 cents to $101.95 per barrel. On Monday, the contract jumped by 5.1%, the largest percentage gain since May 11.


The WTI August contract expires on Wednesday, while the more actively traded September future fell 63 cents to $98.79 a barrel.


Both benchmarks had weekly declines of more than 5 percent last week.


As Western sanctions on Russian crude and gasoline supplies impeded trade flows to refiners and end-users, oil prices oscillated between supply anxieties and rising concern that central bank measures to tame surging inflation may cause a recession that would diminish future fuel demand.


This week, two Federal Reserve officials stated that the central bank is unlikely to raise interest rates by more than 75 basis points at its July 26-27 meeting.


A drop in the rate of growth might result in a less severe economic recession, hence reducing fuel use.

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