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On May 25, according to the Financial Times, Canadas second largest pension fund, the Caisse de dépôt et placement du Québec (CDPQ), announced that it will invest more than 8 billion pounds in the UK in the next five years, which will inject a shot in the arm for British Chancellor of the Exchequer Reeves plan to promote investment in infrastructure construction. Charles Emond, CEO of the fund, revealed in an interview that it plans to increase its asset allocation in the UK by 50%. CDPQ currently manages 473 billion Canadian dollars (254 billion pounds) in assets representing 6 million insured persons. Its existing investments in the UK include shares in the First Hydro Company in Wales and the London Array offshore wind farm in the Thames Estuary, with a total value of about 17 billion pounds.Russian Ministry of Defense: Our air defense forces destroyed and shot down 110 Ukrainian drones over several provinces of Russia.Market news: Canadian pension giant will invest more than 8 billion pounds in the UK.Market news: The UK is considering imposing a tax on retirees to recover winter fuel subsidies.On May 25, institutional analysis pointed out that the market expects the U.S. core PCE price index to be released next Friday to rise by 0.1% month-on-month, compared with the same period in March. Economists generally believe that although the impact of U.S. President Trumps tariffs on April price data will be mild, the impact of trade policy is expected to become more obvious as early as next month. Given that there are no obvious signs of deterioration in the current job market, Federal Reserve officials tend to keep interest rates unchanged until the impact of trade policy adjustments is fully reflected in economic data.

WTI bulls enter at critical support and eye the Federal Reserve

Daniel Rogers

Sep 20, 2022 14:31

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West Texas Intermediate is currently up 0.11 percent on the day and has traded between $82.11 and $86.21 bbls. The black gold was reversing early offers that led to the lows even as US dollar bulls came in as markets awaited the Federal Reserve and a multitude of other central banks this week.

 

Fed funds futures have priced in a 79% chance of a 75-basis-point rate hike this week and a 21% chance of a 100-basis-point boost at the conclusion of the two-day Fed policy meeting. Nonetheless, some analysts predict that the central bank could move to increase interest rates by a full percentage point after August inflation exceeded expectations. The DXY index indicates that the demand for safe haven assets, such as the U.S. dollar, is close to its 20-year high. As a result, the demand for oil may decrease, and the dollar's demand as a safe haven asset nears a 20-year high.

 

Nonetheless, China eased a two-week lockdown on the 21 million residents of Chengdu, restoring normal activity to the capital of Sichuan, which may have contributed to the increase in oil prices at the beginning of the week. The Department of Energy said on Monday that the United States will sell 10 million barrels of oil from its strategic reserve for delivery in November.

 

"The markets are increasingly pessimistic about the likelihood of a rapid resolution to the Iran issue, which has resulted in a revival in energy supply risks despite the continuous decline in prices. As markets reprice supply risk premiums, the lack of liquidity might amplify crude's upward volatility, according to TD Securities analysts.


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