Open: London Session | Forex, Metals, Oil, Agriculture December 13, 2022

TRADING-THE-LONDON-FOREX-OPEN

United States

It s still important to note just how extreme the gap between inflation and the fed funds rate has become. But it remains a tad hopeful to expect a swift cut in the fed funds rate next year.There ll be more evidence on this soon. The current Fed governors are acutely aware of this, and badly want to avoid the rather cruel judgment that history has made of their predecessors. Back in the mid-1970s the Fed made what is now regarded as the fatal mistake of celebrating victory too soon and cutting rates.
Bolsonaro had staked out an intention to contest any defeat, Trump-style, and there were fears of violence in an over-charged atmosphere. Many Wall Street prognosticators are labeling analysts as delusional, including Lisa Shalett of Morgan Stanley Wealth Management. The Nasdaq 100 Index rose 1.2% after hitting a multi-year low last month.

Europe

Risk Controls | The ECB said banks still aren t doing a good enough job in limiting risks in the core business of extending credit. The EU imposed restrictive measures on four individuals and four entities over Tehran s deliveries of drones to Russia, the European Council said in a statement. Hungary had been vetoing an 18 billion ($19 billion) support package for Ukraine, a measure that requires the consent of all 27 EU members.

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