Open: London Session | Forex, Metals, Oil, Agriculture October 19, 2022

As Lucas Shaw reported for Bloomberg, headwinds remain:A big challenge on that front is the soaring dollar, which is taking a bite out of revenue and earnings. Borrowing in yen and putting money into the Brazilian real would have made 50% so far this year, incredibly.

Tankers Grounded | The latest EU sanctions on Russian petroleum could end up depriving a swath of the world s tanker fleet of industry-standard insurance. Major, now 79, is already on record as describing this plot as a barrel-load of malicious nonsense.

Those asset classes have seen a surge in volatility as the Fed embarked on an aggressive plan to raise interest rates to temper inflation in recent months. Revenue Surge Rates and currencies traders just handed Wall Street s trading desks their best third quarter ever. The Minneapolis Fed chief, who before the pandemic was known as the Fed s most outspoken dove, has emerged this year as its biggest hawk. Bank of England s bond sales, Fed s tightening, and a brewing Tory rebellion.
Kashkari along with other Fed presidents Charles Evans and James Bullard take part in separate events.

It merits really to look deep into it, Commission President Ursula von der Leyen said yesterday while presenting the EU executive s energy price proposals. Like other central banks, the ECB could implement active securities sales to hasten the shrinkage of its balance sheet, though BE expects the Governing Council to tread cautiously. ECB data show nearly 1% of APP holdings will mature each month, suggesting a decade or more may be required to completely offload those bond purchases.
The EU wants to develop an energy efficiency label as it tries to cut consumption and meet its climate goals. It is likely the EU will make progress this week, and aim to have new penalties in place by November.