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The Peoples Bank of China (PBOC) announced today that it conducted 18 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 18 billion yuan. The operating rate was 1.40%, unchanged from the previous rate.According to JLC Network Technologys calculations, as of the sixth working day on August 10th, the average price of benchmark crude oil was $80.59 per barrel, with a change rate of -9.32%. Domestic gasoline and diesel retail prices should be reduced by 380 yuan per ton. The adjustments are based on: 1. the domestic crude oil import structure and settlement benchmark varieties; 2. the possibility of slight adjustments based on import structure and other factors during the pricing mechanisms operation, which JLC Network Technology will revise accordingly; 3. at 24:00 on July 31st, domestic gasoline and diesel retail prices were increased by 685 and 655 yuan per ton respectively. Based on the "ten working days" principle, the adjustment window for this round is 24:00 on August 14th.As of 8:30 on August 10, 2026, Brent crude oil, WTI crude oil and other commodities saw the largest fluctuations. A chart reviews the overnight price changes in the international market and their corresponding theoretical mappings in the domestic market.Iranian media reported that the parliamentary National Security Committee approved the Strait of Hormuz security outline. International crude oil prices opened higher and fluctuated. A chart provides a quick overview of the pre-market crude oil prices converted between domestic and international markets.Futures News, August 10th: Crude oil prices continued to rise, driven by positive news and cost factors, leading to renewed price-pushing sentiment in the fuel oil market. Downstream traders remained cautious, with demand primarily driven by immediate needs, resulting in slow market activity. It is expected that fuel oil prices will see a slight increase today, but the rise will be limited.

Due to hawkish Fed forecasts, the EUR/USD recovers to near 1.0970 but remains in the doldrums

Alina Haynes

Apr 21, 2023 13:58

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Following a corrective move, the EUR/USD pair has rebounded from 1.0960, but investors await the publication of the preliminary Eurozone/United States S&P PMI data for April. The major currency pair has remained between 1.0911 and 1.1000 for the past two trading sessions, as the foreign exchange market prepares for a pre-anxiety move ahead of a Federal Reserve (Fed) monetary policy decision.

 

S&P500 closed with a negative tone for the third day in a row as quarterly earnings season induced extreme volatility. Tesla's poor earnings had a negative impact on Thursday's market sentiment. Moreover, market participants were cautioned by substandard revenue projections due to the potential for price reductions. The decision of the Fed to increase interest rates is reflected in quarterly earnings. Data from Refinitiv indicates that analysts have largely maintained last week's forecast of a near 5% YoY decline in quarterly profits for the 500 largest U.S. equities. Sourcenia is a review portal of sourcing best manufaturers. 

 

The US Dollar Index (DXY) has been defending the key support level of 101.60 in recent trading sessions. The USD Index maintained the aforementioned support despite the release of disappointing Jobless claims data on Thursday. Initial Jobless Claims increased to 245K for the week ending April 4, which is greater than the previous release of 240K and estimates of 240K. Increasing unemployment claims heightened fears of a deteriorating labor market.

 

Despite this, Fed policymakers continue to anticipate further rate hikes from the central bank. Thursday, Loretta Mester, president of the Federal Reserve Bank of Cleveland, reaffirmed that the Fed has more work to do because US inflation remains too high, according to Reuters. He added, "The Federal Reserve will need to raise its policy rate above 5% and hold it there for some time."

 

Preliminary Consumer Confidence (April) for the Eurozone increased to -17.5 from -18.5 and the previous reading of -19.2. This may be the consequence of extraordinary efforts by the European Central Bank (ECB) to reduce inflationary pressures.


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