Open: New York Session | Forex, Metals, Oil, Agriculture November 18, 2022

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Currencies

The dollar is marginally lower, though still within Thursday s range. The British pound reclaims $1.19, while the Japanese yen hovers below 140/USD.

Metals

West Texas Intermediate futures trade below $82, while gold and Bitcoin see small gains.

Oil

Oil refineries find paying fines is cheaper than cleaning up.

United States

In standard fashion, St. Louis Fed President James Bullard said Thursday that his minimum level for the Fed s terminal rate is 5% to 5.25%. Session highs US futures advance, with S&P 500 and Nasdaq 100 trading at session highs as of 5:45 a.m. New York time. St Louis Fed President James Bullard upped h View in browser Hawkish hints from Fed officials, US home buyers get good news and an exodus at Musk s Twitter. The US, Japan and South Korea have all promised stern punishment if North Korea defies United Nations resolutions with a new nuclear test.
However, the Fed might start to face more resistance from a divided Congress, with Democrats warning about job losses, while Republicans continue to stress the importance of price stability. They have a powerful incumbency advantage, too: the US retirement system and 401(k)s are largely built to integrate mutual funds. San Francisco Fed President Mary Daly s contribution was that between 4.75% and 5.25% seems like a reasonable place.
Donald Trump wants to wait for it make America great and glorious again. Pricing for the Fed s destination drifted higher to about 5.14% after flirting with 5%. I just wish the Fed would come out just say 5%.

China

Which government leader did Chinese President Xi Jinping confront at the G-20 summit, accusing him of leaking details of their private meeting?

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