Open: London Session | Forex, Metals, Oil, Agriculture December 12, 2022

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Oil

Now it s natural gas on the agenda, with energy ministers seeking a price cap at an emergency meeting tomorrow. EU ambassadors resume talks on a proposed price cap for natural gas.

United States

Financial markets agree on the near-term vision, but see a rapid retreat from peak rates later next year in a view that contrasts with Fed officials. Which is not to say that the Fed’s dot plot and other long-range measures are useless or misleading.

Europe

Alongside its decision on borrowing costs, the ECB is set to announce how it plans to unwind 5 trillion of bonds purchased during past stimulus pushes. The ECB and the Bank of England are likely to follow the Federal Reserve with half-point moves.

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