Close: London Session | Forex, Metals, Oil, Agriculture December 01, 2022



The dollar traded near its weakest level since mid-August, giving most Group-of-10 currencies a boost.


Oil and gold rose while Bitcoin was flat after rallying more than 5% in the past two days.


With natural gas prices soaring, these technologies now generate power at a much lower cost than gas-fired power plants, making them much more profitable. Stephanomics podcast | This episode delves into the energy challenges facing Europe as it works to replace natural gas cut off by Russia.

United States

The Fed said the US economy grew only slightly through late November, with businesses reporting that high inflation and rising interest rates clouded their view of the economic outlook. Because if that were the case, then there definitely wouldn’t be a soft landing, because the Fed would ensure a hard recession via rate hikes.Anyway. The PCE deflator, the Fed’s preferred inflation metric, is also due, which economists expecting it to show a more moderate rise year-on-year than in September.
A US House committee can now get a look at six years of Trump s tax returns, a week after the Supreme Court cleared the way for their release. Bond traders also dialed back their expectations for how high they think the Fed might push rates. In July, stocks soared after Powell seemed to suggest the Fed s key rate had reached neutral. As respiratory illnesses spread across the US, an unfamiliar medical term has been cropping up in some media coverage.
But as developments this week in India, the US, Singapore and Japan demonstrate, there s much progress to be made still. Chandrachud said in August.In the US, it s the legislature, not the Supreme Court, seeking to codify protections for LGBTQ people.


Separately, Beijing will allow some virus-infected people to isolate at home.


Although the EU s cap on prices is more punitive (applying to all revenue above 180 or 155 per megawatt-hour), its impact shrinks rapidly once prices fall. Stretched households | Brexit has added 210 to food bills for the average UK household, with low-income families hardest hit, a study shows. At current EU and UK power prices, the impact of each tax is nearly identical.