Close: London Session | Forex, Metals, Oil, Agriculture May 26, 2022

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Currencies

The EIA’s natural gas storage data is due at 10:30 a.m. Dollar Tree Inc., Dollar General Corp., and Macy’s Inc. are among the companies scheduled to report earnings. Dollar General Corp: The company raised its sales forecast for the year, as more Americans turn to discount store shopping with inflation at a four-decade high. The dollar edged lower. The U.S. dollar edged lower.

Metals

Gold prices fell, following the Fed s tight monetary policy.

Oil

BEFORE THE BELL Futures for Canada’s main stock index were subdued, as gains in crude prices were countered by weakness in metals and concerns over slowing global economic growth. Oil prices rose, extending a cautious rally on signs of tight supply while the European Union (EU) wrangled with Hungary over plans to ban imports from Russia. Unusual ship-to-ship transfers seen for China-bound shipments of Russian ESPO oil as shippers try to more efficiently deploy a shrinking fleet.

United States

Black college graduates in the US owe an average of $25,000 more in student loan debt than their White counterparts. Both remain controversial to some, but California, the birthplace of the US anti-nuclear movement, is now hoping to keep its last remaining plant online. The company’s same-store sales decreased 0.1% for the first quarter, compared with Wall Street expectation a 1.3% drop. The company is also raising salaries for workers in the US by 10%.
The Fed, meantime, is moving aggressively to boost borrowing costs. Futures on the S&P 500 and Nasdaq 100 fluctuated between gains and losses. KC Fed Manufacturing for May : Prior 28 1100 (approx.)

China

Shanghai will reopen some schools after a three-month shutdown as coronavirus infections ebb, with attention shifting to the simmering outbreak in Beijing.

Europe

Click here to view in browser Seizing oligarch assets is a slippery slope The EU hopes to confiscate $31 bln of yachts and villas from blacklisted billionaires.

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