Open: New York Session | Forex, Metals, Oil, Agriculture October 19, 2022



Small bounce US futures and European stocks bounced off session lows as the euro zone s first-ever brush with double-digit inflation was revised away by a fraction. The dollar strengthened.


Gold and Bitcoin fell while oil rose, trading within Tuesday’s range.


Europe s natural gas storage sites are about 92% full, while Germany has hit 95%, a level it aimed to reach by Nov. 1.

United States

Inflation, recession The Fed should keep raising rates, even beyond 4.75%, if inflation is still rising, according to Minneapolis Fed President Neel Kashkari. Today we look at the frustrating lags between Federal Reserve interest-rate hikes and a turn in the US economy, plus we reveal an int View in browser Hello. The Fed should keep raising rates, ev View in browser A Fed official calls for more hikes, the Bank of England ends speculation and earnings season revs up.
In the US, there are 2.8 million antibiotic resistant infections in people each year, resulting in 35,000 deaths, according to the Centers for Disease Control and Prevention. But first… Today’s must-reads President Joe Biden is calling for the US to produce a test for future pandemic pathogens within 12 hours of their discovery. Some remote workers are catching up on sleep, a New York Fed study shows. Treasury 10-year yields held near multi-year highs above 4%, before the publication of US housing data for September and the Fed s Beige Book.
S&P 500 futures climbed 0.5% and Nasdaq 100 rose 0.7% as of 6 a.m. New York time. Photographer: Matias Delacroix/AP Tune in at 8am ET for a Twitter Space conversation with our reporters about what is going on between the US and Saudi Arabia.


That complicates the task of unlocking billions of euros in EU funds, which investors regard as necessary to feel better about the economy. That s helped trigger a selloff in Hungarian assets and an emergency interest rate hike to 18% by far the highest level in the EU. Hungary is badly in need of EU funds, said Andras Simor, a former central bank governor. But even more than the actual money, Hungary needs the EU s seal of approval to shore up its battered credibility.
Photographer: Akos Stiller/Bloomberg Another is that Prime Minister Viktor Orban is in open conflict with the rest of the European Union after trying to derail sanctions against Russia.