Open: New York Session | Forex, Metals, Oil, Agriculture September 26, 2022

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


In the euro area crisis, a crucial moment was when Mario Draghi created an implicit sovereign debt for all euro nations. The pound, meanwhile, recovered from the day’s lows of $1.0350 as the probability of sliding to parity with the dollar this year hit 60%. Treasuries extended their worst bond slide in decades as a dollar gauge rose to yet another record. Global financial firms, which suffered multi-billion dollar losses in Russia, are now reassessing the risks of doing business in Greater China after an escalation of tensions over Taiwan.
In New York s midtown Manhattan lies a multibillion-dollar problem for building owners as decades-old office towers sit partially empty.


German Chancellor Olaf Scholz secured just one shipment of liquefied natural gas from the United Arab Emirates, with a non-binding agreement for more, during a Middle East visit. Oil fell again, with Brent sliding below $85 a barrel at one point.

United States

The Nasdaq 100 is down about 31% so far this year, wiping out trillions of dollars in market value, as investors reassess the post-pandemic value of many business models. Many Wall Street banks now expect it to hike rates by 75 basis points in November and perhaps even in December too. The US climate bill passed this summer still has the battery industry all revved up. Battery upstarts are salivating over the goodies in the bill, particularly the tax credits for manufacturing components here in the US.
The target still lags behind those set by the US, the EU and the UK, and is rated insufficient by CAT. Unlike in the US and Europe, Covid rules linger everywhere in Japan even as locals flock to tourism hotspots. plans second Prime Day Wall Street banks prep for grim China scenarios over Taiwan. By the end of October, Emirates SkyCargo s inventory on WebCargo will be available across all of Europe, followed by Australia and the US in November.
Fed officials Susan Collins, Raphael Bostic and Loretta Mester speak at events today. US data include Chicago Fed National Activity index and Dallas Fed Manufacturing Outlook.


The announcement of the list brings Xi another step closer to clinching a precedent-defying third term in power at the pivotal event, which begins Oct. 16 in Beijing.


The European Union has so far managed to keep its mammoth package of green legislation on track, despite the war sending energy prices to record levels. ECB newbie | The central bank s newest policy maker has plenty to say on the danger of consumer prices running out of control during a war. That could mean increasing by a couple more percentage points the EU s target for a 55% emissions cut by the end of the decade, compared with 1990 levels. The EU s three main institutions the Commission, Parliament and Council have all agreed to boost ambition on renewables and energy efficiency by 2030.
Still, if there is one comfort for Meloni, it may be this: When it comes to radicalism, as far as markets are concerned Brexit Britain beats Italy hands down. ECB President Christine Lagarde speaks at the European Parliament.