Open: New York Session | Forex, Metals, Oil, Agriculture November 02, 2022

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

Agriculture

Food price increases hit 11.6%, another record, with tea bags, milk and sugar all experiencing significant hikes.

Currencies

So if you invoice in the dollar, then it makes sense to finance trade financing in dollars because you re going to be receiving dollar cash flows. Going to post the answer here, since it’s important for people to understand how difficult it is for a meaningful shift away from the dollar on a global scale. Asset managers will have a preponderance of dollar securities dollar assets more generally. Bloomberg s dollar gauge trended lower, allowing for small gains across most Group-of-10 currencies.

Metals

Oil and gold climbed slightly, while Bitcoin traded flat.

Oil

Exxon Mobil Corp. posted $24.4 billion in operating cash flow for the third quarter, rocketing the oil giant to the top of the S&P 500 Index. Sustainable finance in brief How big is Big Oil?

United States

Investors brace for a super-sized hike from the Fed, Credit Suisse gets downgraded by S&P and Denmark delivers a nail-biter el View in browser Good morning. Investors brace for a super-sized hike from the Fed, Credit Suisse gets downgraded by S&P and Denmark delivers a nail-biter election. Coming Up European equities are poised for a modest advance ahead of the Fed’s widely expected 75-basis point hike. Fed Chair Jerome Powell will deliver the outcome of t View in browser It s Federal Reserve day, China locks down iPhone City, and US pharmacy chains pay up.
In the 2010s, a big story was that low rates from the Fed couldn’t generate inflation. The Fed delivers its decision at 2 p.m., followed by Powell s press conference 30 minutes later. Quiet markets S&P 500 futures were little changed as of 5:24 a.m. in New York, while Nasdaq 100 contracts rose 0.1%. No fresh Fed forecasts are released at this meeting.

China

Yet unverified talk of a shift in President Xi Jinping s Covid Zero policy has nonetheless gripped traders and sparked an epic rally in the nation s stocks.

Europe

Natalia Drozdiak What’s Happening Kyiv Support | Emmanuel Macron pledged more military support for Ukraine in the form of air defense on a call with President Volodymyr Zelenskiy yesterday. EU Energy Commissioner Kadri Simson also called for urgent assistance during a trip to Kyiv yesterday. Today’s Agenda EU Vice President Vera Jourova and others speak at Future of the Internet event Annual Web Summit conference in Lisbon Like the Brussels Edition?

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