Open: New York Session | Forex, Metals, Oil, Agriculture December 06, 2022

A member of the National Guard plays a trumpet during a flag rai

Currencies

The dollar pulled back from earlier highs to trade flat while Treasuries eked out small gains.

Metals

The US and EU are weighing new tariffs on Chinese steel and aluminum in an effort to reduce carbon emissions and global overcapacity. Brent fell and gold climbed, while Bitcoin slipped for a second straight day.

Oil

Explainers you can use Water Crisis Is Biggest Risk for African Food, Agri CEO Says Can the New Oil Price Cap Starve Russia s War Effort?

United States

Will the US experience a mild recession next year, as JPMorgan predicts, or will it enjoy a soft landing, as Morgan Stanley expects? Cautious markets US equity futures traded in small ranges, with S&P 500 and Nasdaq 100 contracts little changed as of 6:10 a.m. in New York. Which asset stands to benefit the most from the upcoming Fed decision?

China

That s going to be a challenge as the full costs of Beijing s isolation over the past three years have yet to be paid. Rebecca Choong Wilkins A demonstrator holds a sign reading There is faith in our soul during a protest in Beijing on Nov. 27.

Europe

Photographer: Marcelo Perez del Carpio/Bloomberg The European Union sealed a late-night deal to curb its role in global deforestation through its supply chains for key commodities.

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