Close: London Session | Forex, Metals, Oil, Agriculture August 11, 2022

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Currencies

A dollar index slipped, adding to Wednesday’s retreat that was the biggest since the onset of the pandemic.

Metals

JPMorgan gold traders found guilty after spoofing trial.

Oil

Energy prices US average retail gasoline prices fell below $4 a gallon to the lowest level since early March, according to data from AAA. A startup can push code from anywhere, but you cannot build a reactor vessel or liquefy carbon dioxide remotely. Oil edged higher after the International Energy Agency boosted its forecast for global demand growth this year. So does Calgary, a big hub for Canadian oil with strong academic and capital networks.

United States

Coming up… Weekly jobless-claims data out today has added importance after the inflation data hinted at room for future dovish surprises from the Fed. Hawk, converted | Minneapolis Fed chief Neel Kashkari, long known as the ultimate dove, has become the central bank s biggest hawk. He started out as an infectious disease physician for the US Army intent on combating malaria, but Sept. 11 and the anthrax attacks changed his mission. For one thing,there’s still just tons of work to do to get inflation down from its current level to anything the Fed would be comfortable with.
Corporate investment in information and communications technologies in particular has been far outpaced by that in the US in the last three decades, Goldman analysts have found. Houston, at the heart of the US hydrocarbon complex, has climate cluster potential, with great universities as well as being a port city. Yesterday’s stock rally was fueled by bets that the Fed may turn less hawkish.
Economists are divided on whether slower CPI growth means the Fed could ease its aggressive rate-hiking program. Short-term Treasury yields held a drop on investors scaled-back expectations of how aggressively the Fed will have to tighten monetary policy. India trounces the US when it comes to training female airline pilots.

China

China s mounting risks set stage for PBOC to rein in stimulus.

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