Close: London Session | Forex, Metals, Oil, Agriculture August 08, 2022

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Metals

Bitcoin climbed, gold was steady and oil drifted lower.

Oil

The cargo vessel Razoni sailing to Tripoli, Lebanon on Aug. 3.

United States

Wages growing faster than 5% a year and a declining workforce will raise eyebrows at the Fed and likely force another jumbo hike next month, they said. Worse to come Investors in US corporate bonds haven’t seen a worse year ever, though it may get uglier as the Fed keeps raising its policy rate. Republicans, united in opposition, argued it won t stop the historic levels of inflation and would impose taxes that could tip the US economy into recession.
Every time that the Fed has tightened above neutral in the past, the economy entered recession soon thereafter. In the US, as intense heat waves become more commonplace, researchers fear more volatile temperatures will stunt sea turtle populations. Democrats called the bill the largest investment in fighting climate change ever made in the US. Both the iRobot and One Medical acquisitions share a final attribute: an almost breathtaking disregard for the trustbusters, particularly the head of the US Federal Trade Commission, Lina Khan.

China

The Defense Ministry in Taipei said Beijing is seeking to hurt Taiwan s morale and affect regional safety. Residents queue at a Covid-19 testing booth in Beijing, China.

Europe

News to Note Liz Truss, the front-runner to succeed Boris Johnson as UK prime minister, plans to rush through tax cuts to tackle a cost-of-living crisis, the Telegraph reported.

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