Close: London Session | Forex, Metals, Oil, Agriculture August 05, 2022

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Agriculture

As a major importer of wheat and energy, Turkey has been hit hard by the economic fallout from Russia s war in Ukraine, with domestic inflation racing to 80%.

Currencies

In currency markets, the dollar rose against most peers and gold edged lower.

Oil

Later, there s the release of the Baker Hughes oil rig count, and earnings include Adient, Cinemark as well as Goodyear. Oil was steady after recent declines and Bitcoin advanced above $23,000.

United States

Jobs, jobs, jobs The markets are holding their breath for July’s non-farm payrolls data out of the US, with economists forecasting that employers added 250,000 jobs. Beijing announced sanctions on Pelosi and her immediate family members and said it would take other measures including halting climate change talks with the US. Today we look at the outlook for the US consumer as savings retreat, what big-name economists are worried about, and why China may no View in browser Hello.
With embryos gaining new legal protections in the US, IVF could be criminalized.World food prices dropped almost 9% in July, their biggest decline since 2008. Under current policies, the US is on track to cut its emissions between 24% and 35%, depending on the analysis. In the US, greener living is getting easier for people who want to go on lower emissions vacations. Elon Musk also reiterated his comments that he thought a recession in the US was likely, expecting the downturn to be “mild” and lasting up to 18 months.
Today s Must Reads The doomsayers | Meet the five economists who reckon the US economy will contract again in the current quarter. Texas leads the US in maternity ward closures, and it s getting worse in the western part of the state. For comparison, in 2020, the US added 15 gigawatts of wind and 10 gigawatts of utility-scale solar photovoltaic.

China

The show of force comes after Beijing broke another precedent by firing four ballistic missiles over Taiwan yesterday, according to the Japanese Defense Ministry.

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