Open: London Session | Forex, Metals, Oil, Agriculture March 22, 2023



European Sovereignty | ECB President Christine Lagarde said yesterday that a digital euro would play a key role in safeguarding European payment autonomy.


Trafigura bought some LME nickel that was just bags of stones.

United States

In contrast to the Fed s current tightening regime, all those months saw the central bank cutting rather than hiking in response to clear crisis conditions. US sovereign bonds have been whiplashed this month as the global banking crisis called into question the Fed s policy path. As such, it s not affecting financial stability and the Fed will make that distinction when deciding on its policy path, the strategists including Jay Barry said. The last edition from December showed that almost all the committee s members expected fed funds to be above 5% at the end of this year.
For instance, in the 49 days since the last Fed policy decision, I ve aged by roughly two years. Treasury Liquidity The Fed can look past low liquidity in the Treasuries market and keep on hiking rates, according to strategists at JPMorgan. Coming Up European shares look set to open higher even as investors brace for the Fed’s policy decision. By pushing the banks into difficulties, on this argument, the Fed has succeeded in tightening conditions and doesn t need to be too aggressive from now on.
All eyes are on the Fed, there is more pain ahead for Credit Suisse staffers and Japan s PM has thrown his weight behind Ukraine. They ve heard Treasury Secretary Janet Yellen say the US government could move to protect bank depositors if smaller lenders are threatened.


The risk is that without a compromise the landmark legislation a key pillar of the EU s green deal could unravel completely. In the UK, members of Parliament will vote on a post-Brexit deal for Northern Ireland, while former Prime Minister Boris Johnson will testify before the privileges committee.