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On January 12, Trump denied involvement in the Justice Departments subpoena of the Federal Reserve. Speaking about Fed Chairman Powell, he said, "I have no idea about it, but hes clearly not doing well at the Fed, and hes not good at managing construction projects." Trump stated that the Justice Department subpoena was unrelated to interest rates: "No, I would never even consider putting pressure on him that way. What should really be putting pressure on him is the fact that interest rates are too high; thats the only pressure hes under." He added, "Hes hurt a lot of people, and I think the public is putting pressure on him."Hong Kong-listed application software stocks continued their upward trend, with Weimob Group (02013.HK) rising nearly 17%, China Youzan (08083.HK) rising over 10%, and Kingdee International (00268.HK) and Inspur Digital Enterprise (00596.HK) following suit.On January 12th, the National Development and Reform Commission (NDRC) and three other departments jointly released the "Working Measures on Strengthening the Planning and Investment Direction Guidance of Government Investment Funds." An official from the NDRC stated that this is the first time that the layout and investment direction of government investment funds have been systematically regulated at the national level. Regarding optimizing fund layout, the measures require funds to support major strategies, key areas, and weak links where the market cannot effectively allocate resources, promote the deep integration of technological and industrial innovation, focus on cultivating emerging pillar industries, and adhere to the principles of early investment, small-scale investment, long-term investment, and investment in hard technologies. The NDRC official also stated that in recent years, some government investment funds have encountered problems in their establishment and operation, such as mismatch with local resource endowments and industrial foundations, unclear fund positioning, and homogeneous investment directions. In response to these situations, the "Working Measures" clearly define the functional positioning and investment priorities of national-level funds and local funds.According to Futures News on January 12, as of 09:30 Beijing time, WTI crude oil futures fell 0.05%, while US natural gas futures rose 2.08%.U.S. Republican Senator Tillis: If there were any doubts before that advisors within the Trump administration were actively pushing to end the independence of the Federal Reserve, there should be no doubt now.

WTI Price Analysis: Testing the $80 level versus the broad USD

Daniel Rogers

Apr 11, 2023 14:20

 截屏2023-01-13 下午5.17.06.png

 

On Monday, crude oil prices are lower as a risk-averse sentiment underpins the U.S. dollar. The price of the black gold is a few cents above its intraday low of $79.71 per barrel and is approaching the range's bottom.

 

Early in April, the Organization of the Oil Exporting Countries and Allies (OPEC+) astonished market participants by announcing a 1.16 million-barrel-per-day reduction in their oil output, which pushed West Texas Intermediate (WTI) approximately 5.5% higher on April 3 and left a $4 void. Since the announcement, WTI has been consolidating between $79 and $81.80, unable to find fresh directionality.

 

Higher energy prices have contributed to inflation's meteoric rise, and OPEC+'s decision came as a complete surprise, reigniting concerns not only about price pressure but also about economic growth.


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