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

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Currencies

In nearly every other multi-billion dollar Chapter 11 case in recent years, lawyers quickly file a smattering of routine requests designed to stabilize operations. Developing-nation governments need to pay back or roll over about $350 billion in dollar- and euro-denominated bonds by the end of 2024, according to data compiled by Bloomberg. The dollar advanced as the Fed governor outlined the case for further hikes. In the case of the euro for instance, options suggest there may be more to come.

Oil

Beyond oil You can only produce so much of it and we re very getting close to that limit.

United States

It s been a busy start to the week with FTX s collapse, Biden to meet Xi at G-20 Summit, and once again, the Fed is not pausing soon. The comments echoed remarks this month from Fed Chair Jerome Powell and other colleagues who said rate increases were far from over but the speed could possibly slow soon. ECB s Luis de Guindos and Fabio Panetta speak at the start of a busy week for the central bank, while the Fed’s John Williams moderates a panel. History says the Fed s high-speed interest-rate hikes may well tip the US into recession in 2023.

China

Biden-Xi President Joe Biden seeks to prevent US-China ties from deteriorating further in a meeting with Chinese leader Xi Jinping, American officials said.

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