Close: London Session | Forex, Metals, Oil, Agriculture December 02, 2021

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Currencies

Dollar General Corp., Kroger Co. and Toronto-Dominion Bank are among the companies reporting results.

Metals

S&P 500 futures pointed to a rebound from yesterday s end-of-session slump at the open, the 10-year Treasury yield was at 1.439%, while gold and Bitcoin dropped. Ireland s central bank is buying gold for the first time in years.

Oil

Decision time OPEC+ s technical experts yesterday forecast that oil markets face a surplus in the first quarter of next year. Taking stockWith cases of the omicron Covid-19 variant crop View in browser Omicron threat questioned, a long list of investing worries, and OPEC+ decision. Natural gas power growth is also evident as are the steady additions of wind and solar power. Analysts at Deutsche Bank AG say the price of crude will continue to drop, even if production hikes are delayed.
In the market this morning a barrel of West Texas Intermediate for January delivery was trading close to $67.

United States

Fed Chair Jerome Powell reinforced his message yesterday that officials at the bank should consider speeding up how quickly they withdraw policy support. There are four regional Fed presidents scheduled to speak today, with investors likely to be on watch for any comments on policy tightening.

China

News to Note China summoned Japan s ambassador and blasted former Prime Minister Shinzo Abe after he warned Beijing on the consequences of an attack on Taiwan.

Europe

EU Fisheries Commissioner Virginijus Sinkevicius hailed the move as a sign of progress on a broader trade agreement that officials hope to wrap up by Dec. 10. Boris Johnson lowered the temperature on three fronts in talks with the European Union, and a warning about Britain s rapi View in browser What s happening? Boris Johnson lowered the temperature on three fronts in talks with the European Union, and a warning about Britain s rapid economic recovery.U.K.
Lagarde s insistence that inflation is a temporary phenomenon is under severe strain, said Steen Jakobsen, chief investment officer at Saxo Bank. U.S. and EU officials will discuss a joint approach toward an increasingly assertive China during a high-level meeting today in Washington. Prime Minister Boris Johnson stepped back from the brink of conflict with the EU on three issues that have caused the most friction in the relationship. Instead, President Christine Lagarde may find the focus has switched to when the ECB may tighten monetary policy.
Germany s outgoing Chancellor Angela Merkel is poised to bring in new rules to drastically increase restrictions on non-vaccinated people. Financial Services Commissioner Mairead McGuinness said the EU s reliance on third-parties like the U.K. for clearing infrastructure is not sustainable. Reed LandbergWe aim to keep you up to date on how the U.K. navigates the world after Brexit.

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