Open: New York Session | Forex, Metals, Oil, Agriculture November 25, 2022

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

Currencies

The dollar is little changed, spurring mixed trading in Group-of-10 currencies with the Norwegian krone leading gains while the Japanese yen lagged.

Metals

Oil climbed, while gold and Bitcoin fell.

Oil

Oil warning The global oil market keeps sending signals that demand is weakening the latest being a closely-watched gauge of Asian crude consumption, which tumbled to a seven-month low. Yet three years later, Mozambique has given up waiting for help from abroad and is focused on developing its massive natural gas resources to fund recovery and growth. JPMorgan strategists say the worst ma View in browser JPMorgan sees a turning point for bonds, China s Covid cases rise and oil markets flash warning signs.
Prompt spreads for both Brent crude and leading US grade West Texas Intermediate have also dipped into contango, a bearish pricing pattern that indicates ample near-term supply.

United States

Even the Fed s own economists are estimating odds are nearly even of a US recession next year.

China

Beijing feels on edge, he says, with many wondering if the record high number of new cases can be contained if restrictions continue to ease. Global Headlines Covid impact | A surge in Covid-19 cases in Beijing has left streets deserted and grocery-delivery services running out of capacity. Covid in China Beijing saw 1,854 new infections Thursday, up from 1,611 on Wednesday, as China s wider outbreak reaches record levels. Xi Jinping knows very well that he can t simply let the virus loose.

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