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September 3 – According to the Wall Street Journal, sources familiar with the matter revealed that six months ago, when the US launched military action against Iran, Defense Secretary Hergsays pledged a swift and decisive strike to avoid a protracted conflict. Now, he is quietly extending troop deployments, suggesting the conflict could continue into next year. Sources indicated this is part of a US military strategy without a clear timeframe, designed to give Trump more options in a war. However, the deployment of 19 warships, air defense units, fighter squadrons, and paratroopers across the region is increasing pressure on US personnel and their families, while the resulting maintenance backlog could take years to clear. One source stated that the standard deployment period for Army air defense units responsible for intercepting Iranian missiles and drones under high-pressure conditions has been extended from nine months to 12 months. Some units originally planned for deployment in Europe and the Pacific but later redeployed to the Middle East have been deployed for over a year.According to the Kuwait News Agency: Alarms have been sounded nationwide.On September 3, local time, the defense team of Venezuelan President Maduro, who is under the control of the United States, filed a motion in the Southern District of New York Federal Court on September 2, requesting the dismissal of the fourth alternative indictment against him on the grounds of immunity. Judge Alvin Hellestein scheduled the hearing for the motion to be held on the morning of November 17, 2026. The defense team attached a legal memorandum, a statement from Pollack, and several annexes to the request, including a ruling from the Constitutional Court of the Venezuelan Supreme Court dated January 3, 2026, a document from the United Socialist Party, and two rulings from Italian courts. It is understood that the filing of this motion does not mean the case has been dismissed. The prosecution will now respond, and the judge will decide whether this defense claim stands against the charges brought by the United States.On Thursday, September 3, the Hong Kong Hang Seng Index opened 171.35 points higher, or 0.68%, at 25,482.56; the Hang Seng Tech Index opened 32.2 points higher, or 0.71%, at 4,549.36; the H-share Index opened 63.02 points higher, or 0.75%, at 8,513.12; and the Red Chip Index opened 11.74 points higher, or 0.28%, at 4,165.19.Hang Seng Index futures opened 0.52% higher at 25,385 points, a premium of 74 points.

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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