Close: London Session | Forex, Metals, Oil, Agriculture December 13, 2022

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Currencies

The dollar was on the back foot, boosting most Group-of-10 currencies except the Swiss franc.

Metals

Oil and gold climbed, and Bitcoin headed for a second-straight day of gains.

Oil

More leaks 26,000 This is about how many barrels of crude oil the Keystone pipeline has leaked on US land since 2010.

United States

Japan and the Netherlands have agreed in principle to join the US in tightening controls over the export of advanced chipmaking machinery to China, sources say. Ranks expand | Japan and the Netherlands agreed in principle to join the US in tightening controls over the export of advanced chipmaking machinery to China. Chip wars | Japan and the Netherlands have agreed in principle to join the US in tightening controls over the export of advanced chipmaking machinery to China.
Today we brace for the latest US inflation reading, examine new IMF numbers on global debt levels and take a look at the US yield curve. Woes ease | Sony led a big jump in video-game hardware sales in the US last month, in the latest sign of improving PlayStation 5 supply. That single Equitrans release effectively erased emissions gains from about half of the 656,000 electric vehicles sold in the US last year. Beijing is courting the US ally and microchip producer amid Washington s campaign to curb China s access to advanced semiconductor technology.
The coverage has triggered government investigations in the US and Bangladesh, but most methane releases worldwide still go unreported. But first… Today’s must-reads Hidden fentanyl is driving a fatal new phase in the US opioid crisis. Economists Rashad Ahmed and Menzie Chinn find that overseas bond markets help gauge spillbacks reverberations from abroad of shocks that started in the US.

China

Global Headlines Covid delay | China is delaying a closely watched economic policy meeting due to start Thursday after Covid-19 infections surged in Beijing, sources say. As Washington s campaign to curb Beijing s access to advanced semiconductor technology gains steam, China is trying to build better ties with South Korea. There s no set timetable for when the Central Economic Work Conference, usually attended by President Xi Jinping, will be rescheduled.

Europe

EU policy makers reached a landmark deal to impose an emissions price on some imports as part of an unprecedented green overhaul. When they gather for a summit in Brussels on Thursday, EU leaders will be under pressure to tie up more than a few loose ends and boost that credibility.

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