Open: New York Session | Forex, Metals, Oil, Agriculture November 08, 2022

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Currencies

Brazilian President-elect Luiz Inacio Lula da Silva delayed the announcement of a multibillion-dollar spending plan as his team continues to discuss ways to pay for his main campaign pledges. US economic weakness (alongside dollar volatility) has instant global impact. Treasuries were also flat across the curve, as was the dollar.

Metals

Oil fell with gold, and Bitcoin sank along with other cryptocurrencies.

Oil

Much higher costs will be borne by the world s poorest countries, which have been shut out of the natural gas market by Europe s suddenly ravenous demand. The European Union s executive signaled it doesn t see a price cap on imported natural gas as the best tool to rein in the unprecedented energy crisis. For as much as there’s this perception that the current administration is hostile to oil and gas, the lines don’t lie. The Biden years have been fantastic for oil and gas.Is that just some random coincidence?

United States

President Joe Biden acknowledged Democrats face a tougher View in browser It s midterms day, Trump teases a big announcement and crypto markets tumble. Trump has used the midterm election cycle to tighten his grip on the GOP, endorsing candidates in local, state and federal elections. Midterms rush President Joe Biden acknowledged Democrats face a tougher challenge holding the House than the US Senate on the eve of Tuesday s midterm elections. Trump announcement Former President Donald Trump said he would be making a big announcement on Nov. 15 at his Mar-a-Lago estate in Florida.
Quiet markets S&P 500 futures were little changed as of 5:38 a.m. in New York, while Nasdaq 100 contracts climbed 0.3%. Now I didn’t purposely write this up on the day of the US election. Trump at a rally in Vandalia, Ohio, yesterday.

China

News to Note Biden and Chinese President Xi Jinping will attend the Group of 20 Summit in Bali next week, this year s host Indonesia said.

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