Currencies
The yen paused in its run toward the closely watched 150 per dollar level, which has investors on high alert for possible intervention. A Bloomberg gauge of the dollar steadied, while the pound weakened after the BOE denied the FT report.
Metals
Oil fell while Bitcoin and gold were little changed.
Oil
The Biden administ View in browser The White House weighs releasing oil reserves, UK bonds get whiplash and Wall Street banks continue with earnings season. An oil company also invented the lithium-ion battery. It s true an oil company came up with it. The Strategic Petroleum Reserve dispensation would be the latest tranche of a 180-million-barrel program that began in the spring.
United States
Divisions on Wall Street For all the talk of recession on Wall Street, it s hard to find evidence of one in the earnings reports of the big banks. Gains fading S&P 500 futures rose about 1.1% and Nasdaq 100 contracts climbed 1.4% as of 5:50 a.m. New York time, trading off session high. The US just crossed that crucial threshold this year, among at least 18 other countries. On #EconTwitter Allianz SE chief economic adviser Mohamed El-Erian on the Fed s independence… Read more reactions on Twitter Enjoy reading the New Economy Daily?
Such confidence is offset by a Bloomberg survey of mainly Wall Street economists.
Such confidence is offset by a Bloomberg survey of mainly Wall Street economists.
Europe
The European Union is unveiling a new emergency package to tackle the energy crunch, but will refrain from immediate gas-price caps amid political divisions.
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