Close: London Session | Forex, Metals, Oil, Agriculture November 08, 2022



Brazilian President-elect Luiz Inacio Lula da Silva delayed the announcement of a multibillion-dollar spending plan as his team continues to discuss ways to pay for his main campaign pledges. US economic weakness (alongside dollar volatility) has instant global impact. Rate pain | Euro-area lenders can handle a jump in rates, according to the top oversight official at the European Central Bank. Treasuries were also flat across the curve, as was the dollar.


Oil fell with gold, and Bitcoin sank along with other cryptocurrencies.


Much higher costs will be borne by the world s poorest countries, which have been shut out of the natural gas market by Europe s suddenly ravenous demand. The European Union s executive signaled it doesn t see a price cap on imported natural gas as the best tool to rein in the unprecedented energy crisis. For as much as there’s this perception that the current administration is hostile to oil and gas, the lines don’t lie. Meanwhile, Europe has enough oil and gas to get through the heating seasons.
At the end of the day, countries buy things like oil in dollars, not in PPP-adjusted exchange rates. The Biden years have been fantastic for oil and gas.Is that just some random coincidence?

United States

Trump has used the midterm election cycle to tighten his grip on the GOP, endorsing candidates in local, state and federal elections. Midterms rush President Joe Biden acknowledged Democrats face a tougher challenge holding the House than the US Senate on the eve of Tuesday s midterm elections. President Joe Biden acknowledged Democrats face a tougher View in browser It s midterms day, Trump teases a big announcement and crypto markets tumble. That was followed by brinkmanship over whether to raise the federal debt limit, which effectively meant threatening to force the US to default on some of its Treasury debt.
On the other hand, the US would see a split government that will hinder Democratic Biden s agenda, and thwart smooth passage for any ambitious policies. Trump announcement Former President Donald Trump said he would be making a big announcement on Nov. 15 at his Mar-a-Lago estate in Florida. The US midterm elections wrap up today.
Might the election result lead the US to put pressure on Ukraine to negotiate for a peace settlement? Overall, our findings suggest that investors should focus less attention on the party of the president and instead more closely monitor Fed actions. Gas supply | In the most densely populated part of the US, temperatures are about to drop after a stretch of warm weather.


News to Note Biden and Chinese President Xi Jinping will attend the Group of 20 Summit in Bali next week, this year s host Indonesia said.


Separately, British firms are yet to see any upside from Brexit, according to one of the UK s top executives. Shifting to ChinaAs a result, trade lanes are being redrawn, and China has overtaken the EU as Russia s most important trading partner.