Close: London Session | Forex, Metals, Oil, Agriculture December 07, 2022

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Currencies

The economists also warn of the creation of a new reserve currency to avoid the dollar in an escalating trade and technology rivalry between China and the US. The dollar erased earlier gains, leading to mixed trading in Group-of-10 currencies. Seizing the day | Benign financial markets are a blessing and a curse to European Central Bank efforts to shrink its multi trillion-euro bond holdings. Also today, the ECB staff union is grumbling about a below-inflation raise, and euro-zone growth data were revised higher.

Metals

Oil fell and gold climbed, while Bitcoin slid more than 1%.

Oil

Evidently not.Here’s West Texas crude now below $74.

United States

The US index has posted a move of at least 1% both up and down on almost half of the trading days since the start of the year. Wall Street warns Wall Street is loudly warning that next year s outlook for the US economy and stocks is grim. Improvements in US delivery times and Taiwanese purchases countered the Chinese developments, the NY Fed said in the latest iteration of its global supply-chain pressure index. Stocks pullback US equity futures pulled back as S&P 500 contracts fell 0.2%, while Nasdaq 100 futures declined 0.3% as of 5:20 a.m. in New York.
While few of the biggest funds measure their performance against the S&P 500, the index is the most widely followed stock benchmark in the US. Senator Raphael Warnock defea View in browser Democrats lead the Senate, China moves definitively away from Covid Zero and Wall Street warns of a grim 2023. As for economic rankings by size, the top three in 2075 are projected to be China, India and the US, having just been overtaken by the South Asian giant.
Separately, the US State Department approved a possible sale of battle tanks to Poland. That s despite repeated warnings from TSMC that it s costlier to manufacture in the US. An ex-Heisman Trophy winner, Walker was handpicked by former President Donald Trump to run against Warnock.

Europe

Bosnia-Herzegovina may get the nod at an EU summit next week.But the reality is these nations are years, if not decades, from fulfilling the membership criteria. Targeting drones | EU ambassadors are due to discuss a ninth sanctions package against Russia today, including restrictions on Moscow s drone sector. ESG fund downgrades $125 billion That’s the volume of managed assets that have been stripped of the EU’s top ESG designation by portfolio managers.
As Kosovo s President Vjosa Osmani noted even before the meeting began, the EU needs to move from words to deeds. More nations have their foot in the door via EU candidacy. Kosovo isn t even recognized as a country by some EU states. Rosalind Mathieson Leaders of the EU and Western Balkans at a June summit in Brussels. France under President Emmanuel Macron has at times been suspicious about EU enlargement.

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