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According to filings with the U.S. Securities and Exchange Commission, Boeings (BA.N) new 364-day revolving credit agreement will expire on August 23, 2027, and can convert the borrowings into term loans; the agreement requires the company to maintain at least $5 billion in liquidity.According to filings with the U.S. Securities and Exchange Commission, Boeing (BA.N) signed a new $3 billion, 364-day revolving credit agreement on August 24 to replace the original $3 billion, 364-day revolving credit agreement that expired that day.US President Trump denied reports that he went to the Pentagon instead of the World Trade Center memorial ceremony in New York because it is customary not to have political figures speak at the ceremony, and criticized New York Times reporter Maggie Haberman for fabricating the news.On August 29, local time, the Trump administration formally appealed a federal court ruling on August 28 that blocked its executive order on mail-in voting from taking effect. Boston Federal District Judge Indira Talwani issued a 14-day temporary restraining order on the evening of August 27, suspending the U.S. Postal Services enforcement of the new mail-in voting rules, and a hearing is scheduled for September 3 to consider whether to implement a longer-term ban.On August 29, local time, Iranian President Pezechzian stated on August 28, regarding the current negotiations with Oman on the Strait of Hormuz, that Oman initially supported Iran, later reserved its position, but in recent meetings, both sides reached a consensus to reopen the straits navigation channel under a coordinated plan. He emphasized that Iran is currently working to ensure that if the navigation channel reopens under a specific framework, the United States must also fulfill its obligations. These obligations include: lifting the blockade and sanctions, unfreezing Iranian funds, and ceasing Israeli hostile actions in Lebanon. He also mentioned that Iran will open the Strait of Hormuz based on its own policies. "The opening of the Strait of Hormuz is within the framework stipulated in the Islamabad Memorandum of Understanding, and has been accepted by all parties and must be implemented." Furthermore, Pezechzian stated that Iran is reaching a consensus on how to interact with its neighbors and forming a shared vision.

WTI advances toward $75.00 as China-related demand optimism offsets recession fears

Daniel Rogers

Jan 09, 2023 11:55

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In the early hours of Monday, WTI steadily climbs near the intraday high of $74.70 as bullish emotion competes with economic slowdown worries. Despite this, the weaker US Dollar and a light schedule allow buyers of black gold to maintain control following Friday's mixed performance.

 

In spite of this, the risk profile remains elevated in light of China's reopening of its borders after a three-year closure. On the same line, Guo Shuqing, party secretary of the People's Bank of China, made his remarks (PBOC).

 

Reuters, transmitting China unlock news, claimed that "about 2 billion journeys are anticipated this season, roughly doubling the volume of previous year, and recovering to 70% of 2019 levels," citing a statement from the Chinese government.

 

On the other side, PBOC's Shuqing stated, "The world's second-largest economy is likely to recover rapidly due to the country's optimal Covid-19 response and the continued implementation of its economic policies."

 

The US Dollar Index (DXY) fell the most in three weeks the day before, down 0.20% intraday to 103.70 as of press time, as the US employment report failed to excite greenback purchasers and the US activity numbers stoked fears of an economic slowdown. It's worth mentioning that the previous day's disappointing US wage growth, ISM Services PMI, and Factory Orders weighed on Treasury bond yields and the DXY.

 

On a different page, reports regarding a delay in the restoration of the colonial pipeline and the Russia-Ukraine conflict appear to also benefit energy buyers. Traders fear additional rate hikes ahead of the release of the Consumer Price Index (CPI) for December from China and the United States on Wednesday and Thursday, respectively, which tests the positive momentum.

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