Close: London Session | Forex, Metals, Oil, Agriculture November 28, 2022

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Agriculture

The European Union will set out measures this week to clean up the packaging industry, from coffee pods to single-use plastic bottles, in an effort to reduce waste.

Currencies

A soaring euro meant the dollar lost its status as the haven of choice, at least for today.

Oil

But then natural gas prices undercut the plant s electricity and local anti-nuclear protesters worried about its safety. Stocks fall Stocks slid and oil tumbled on the growing unrest in China.

United States

Top GOP members are already bearing down on the US Chamber of Commerce after the nation s biggest business lobby backed some Democratic candidates in the midterm elections. Key Trump rivals silent after white supremacist meeting. The more inverted the curve, the more it implies that in the future the Fed will be lowering rates below where they are in the short term. The US, Japan and South Korea have already signed off massive investments into the industry.
Photographer: Vanessa Leroy/Bloomberg The US Inflation Reduction Act features a 30% tax credit for a lesser-known player in the push for energy efficiency: dynamic glass. US data include Dallas Fed manufacturing outlook. Coming up Traders will hear from the Fed s Williams and James Bullard while the ECB s Christine Lagarde testifies in the European Parliament.

China

The results will ignite internal jockeying in the presidential race that is typically dominated by voter views on how the island democracy should handle relations with Beijing.

Europe

In their plan, EU countries rejected reallocating 400 million from the research budget to semiconductors, arguing that the money would only benefit countries with larger existing chip industries. Brexit barged its way back onto the UK political agenda this month, with a report that Rishi Sunak s government might seek closer ties with the European Union. The EU s scoring goals with semiconductors faster than Brussels would normally be expected to. Often, EU policies are out of date by the time they re made law.
Polling reveals mounting regret among the British people who voted to leave the EU in 2016.

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