Open: London Session | Forex, Metals, Oil, Agriculture November 21, 2022

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Currencies

Should it turn, expect strong repercussions across the board and mainly on 60/40 portfolios and the dollar. Of the 200 billion already spent by euro-zone countries, around 70% of measures are untargeted, according to the EU Commission. Fund managers are turning ever more pessimistic on the US dollar.

United States

Wall Street wants Xi s money-minting markets to come back.NEW | Like this newsletter?

China

The report coming from Beijing of two more Covid deaths also stoked fears over the return of tougher restrictions.

Europe

The return of Covid curbs in China stoked fears in markets, Macron is angry at Russia and Sunak denied talk of new deal with EU. Macron is trying to counter Russian influence in Africa, including efforts to link this year s food crisis to European sanctions.

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