Open: London Session | Forex, Metals, Oil, Agriculture December 14, 2022

ftse_2426087b

Oil

Some of this is a product of base effects, as last year s precipitous rise in oil price move beyond more than 12 months into the past. Meanwhile, a decision on natural gas price cap has been postponed to next week. By definition, it will be slower to move than products with very flexible prices, like gasoline.

United States

But will Powell agree, or could the Fed make a mistake and push the economy into unnecessary recession, or could it allow inflation to take off again? Coming Up European stocks are on track for a muted start as traders weigh softer US inflation data ahead of the Fed’s policy decision. Inflation, particularly the US core element, is coming down faster than many in the markets expected. A defense lawyer said the FTX founder planned to fight being sent to the US.
A 50 basis-point rate hike (not the 75 basis-point increments the Fed imposed at its last four meetings) now seems a certainty. Eyes on the Fed, energy pivot in Europe and China is not counting Covid cases anymore.

Europe

Vietnam and donors led by the EU are also due to finalize a $15 billion climate-financing package at the summit. The sum will support projects on infrastructure, energy, transport and digital, we re told by EU officials. Urmas Reinsalu said the EU needed to go much further in providing Kyiv with weapons and funding and isolating Moscow. Apple to allow outside app stores in overhaul spurred by EU laws. The EU and Asean celebrate the 45th anniversary of their partnership at a summit in Brussels.

0