Close: London Session | Forex, Metals, Oil, Agriculture November 18, 2022

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Agriculture

Strong grain demand will outstrip supply for years to come, according to Australian wheat exporter GrainCorp.

Currencies

The dollar is marginally lower, though still within Thursday s range. The British pound reclaims $1.19, while the Japanese yen hovers below 140/USD.

Metals

West Texas Intermediate futures trade below $82, while gold and Bitcoin see small gains. Beth KowittIs this the end of copper s lost decade?

Oil

Control group sales a less volatile measure excluding food services, auto dealers, building materials stores and gasoline stations rose 0.7%, more than double what economists were anticipating. Oil refineries find paying fines is cheaper than cleaning up.

United States

However, the Fed might start to face more resistance from a divided Congress, with Democrats warning about job losses, while Republicans continue to stress the importance of price stability. St Louis Fed President James Bullard upped h View in browser Hawkish hints from Fed officials, US home buyers get good news and an exodus at Musk s Twitter. Session highs US futures advance, with S&P 500 and Nasdaq 100 trading at session highs as of 5:45 a.m. New York time.
The US, Japan and South Korea have all promised stern punishment if North Korea defies United Nations resolutions with a new nuclear test. They have a powerful incumbency advantage, too: the US retirement system and 401(k)s are largely built to integrate mutual funds. The Fed risks snatching defeat from the jaws of victory.

China

Which government leader did Chinese President Xi Jinping confront at the G-20 summit, accusing him of leaking details of their private meeting?

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