USD fell on Friday as a Fed official said the rate of hikes in may slow down, and investors took profit after rising earlier. The previously released November employment data and wage inflation unexpectedly strong, which made the Fed's hawkish outlook dark, and gold prices fell from its nearly four-month high; crude oil fell 1.5% in fluctuating trading, the OPEC+ alliance will hold a meeting on Sunday, and the EU ban on Russian crude oil will take effect next Monday. German Chancellor discusses high inflation and high energy prices with corporate representatives
Commodity closing situation: Brent crude oil futures closed down 1.5%, and the settlement price was US$85.57 per barrel. U.S. crude oil futures fell 1.5% to $79.98 per barrel, while U.S. gold futures settlement price was $1,809.6, down 0.3%.
U.S. stock closing situation: Dow Jones Industrial Index rose 0.1% to 34429.88 points; S&P 500 index fell 0.12% to 4071.7 points; Nasdaq index fell 0.18% to 11461.50 points. Global Market List
U.S. stock market S&P 500 index closed slightly lower on Friday, but major stock indexes emerged from daily lows, and the U.S. November employment report boosted its Fed's expectations of hikes to combat inflation.
Labor Department 's employment report showed that non-farm jobs increased by 263,000, higher than expected 200,000, and wage growth has accelerated despite rising concerns about the recession. The U.S. unemployment rate remained unchanged at 3.7%, in line with expectations. AllsprING Global Investment Senior Investment Strategy Teacher Brian Jacobsen said that wage growth has been on an upward trend since August, and we must see this trend reverse before the Fed will feel at ease to suspend action. Until then, they will continue to slow down in the direction of pause. ”
investors have been looking for signs of weak labor markets, especially wages, as a precursor to the accelerated cooling of inflation, which will slow the Fed and eventually stop the current rate hike cycle.
stock markets rebounded earlier this week after Fed Chairman Powell said it would slow down interest rate hikes as early as December.
’s three major stock indexes closed off the daily lows, all down at least 1% at the time. The Dow struggled to close higher. “If you want to say anything, I’m actually encouraged by how the market climbed up from the lows that it hit today.” This again shows that the market is looking for a seasonal rebound in December at least. The market started looking to the other end of the valley and said, ‘Well, the Fed may remain silent in a year, consider rate cuts ’. "
Fed's interest rate FAP 4 (FOMC) will meet on December 13-14, the last meeting of a turbulent year, as the Fed attempted to curb its highest inflation since the 1980s with a record rate hike. Major stock indexes rose for the second straight week, with the S&P 500 up 1.13% and the Dow rose 0 .24%, the Nasdaq rose 2.1%.
growth stocks and tech giants fell, Apple and Amazon fell 0.34% and 1.43%, respectively, under pressure on concerns about rising interest rates, but then narrowed the decline as Treasury yields fell from the highs they hit earlier. The S&P 500 growth stock index fell 0.29%. tech index fell 0.55%, It was one of the worst performers of the 11 major sectors.
Ford fell 1.56% as car sales fell in November. Food delivery company DoorDash slumped 3.88% after Royal Canadian Bank of Canada (RBC) downgraded the stock. precious metals
gold prices fell from their nearly four-month highs on Friday, after strong U.S. employment The data raises concerns that the Fed may stick to its radical monetary policy tightening.
spot gold fell 0.4% to $1,794.96 per ounce, earlier hitting its highest since August 10. The number of new jobs in the U.S. in November exceeded expectations and wages rose, despite growing concerns about the recession."U.S. job growth is far beyond expectations... What we are seeing is concerns that the Fed may need to raise interest rates further, and today you will see most asset classes under pressure, not just the precious metals market."
climbed 0.1%, metrics U.S. Treasury yields rose. In addition, Chicago Federal Reserve Chairman Evans said at an event that “we may have to have a slightly higher federal funds interest rate peak, even if we may slow down” the pace of rate hikes, down from 75 basis points per rate hike in recent meetings.
federal funds rate futures market predicts that the possibility of the Federal Reserve raising the policy interest rate range by 50 basis points to 4.25%-4.5% in mid-December is 75%.
gold price weekly line will still rise for the second consecutive week, up 2.2% so far this week, and the dollar fell after Fed Chairman Powell made a dovish speech this week.
other precious metals weekly lines are also expected to rise. spot silver rose 1.5% to $23.11 an ounce, earlier hitting its highest since May 5. Platinum fell 2.6% to $1,014.25, while palladium fell 2.1% to $1,901.25. crude oil
crude oil fell 1.5% in volatile trading on Friday, and the OPEC+ alliance composed of the Organization of Petroleum Exporting Countries (OPEC) and its allies will meet on Sunday, and the EU's ban on Russian crude oil will take effect next Monday. Both major contracts of
both saw the flat during the session, but recorded about 2.5% and 5% weekly gains , which had previously fallen for three consecutive weeks. Price Futures group3 analyst
will stick to a 2 million bpd cut policy when it meets on Sunday, but some analysts believe that crude oil prices may fall if the alliance does not cut further. Two sources at major Russian producers said that as the EU will ban sea imports of Russian oil from Monday, Russian oil production may drop by 500,000 to 1 million barrels per day in early 2023.
Polish ambassador to the EU Andrzej Sados said Poland agreed to the EU's agreement to set a price cap of $60 per barrel for Russian sea oil, which would push the EU to formally approve the agreement over the weekend.
U.S. employers have more jobs than expected in November and have increased their salaries. This may give the Federal Reserve more reasons to continue hikes. Forex
USD fell on Friday as a Fed official said interest rate hikes could slow down and investors took profits after rising earlier. Previously released November employment data and wage inflation were unexpectedly strong, which made the prospect of the Fed's hawkishness.
After data showed employers added 263,000 jobs in November, far higher than expected 200,000, the dollar jumped. "Stronger-than-expected job growth can win more time for the Fed to stay aggressive," said Joe Manimbo, senior market analyst at Convera, Washington. Marc Chandler, chief market strategist at Bannockburn Global Forex in New York, said investors focused on November's average hourly wage growth of 0.6%, higher than expected 0.3%, and labor participation rate fell to 62.1%.
he added: "These two indicators reflect more of the labor market tension than the non-farm job growth figures."
But the dollar gave up on gains as investors took profits by the weekend and Fed officials spoke on the outlook. Chicago Fed President Evans said the rate hikes could slow down, but added that the Fed's peak rate in this cycle of interest rates may need to be "slightly higher" than the median forecast by the decision makers' dot chart in September. Thomas Barkin, chairman of the Federal Reserve Bank of Richmond, said Friday that the U.S. is likely to be in a period of ongoing labor shortages, and the Federal Reserve's goal of returning to balance labor demand has complicated.
USD index fell 0.13% at 104.50 in the late trading; euro rose 0.10% to $1.0537, the highest since June 28.
USD 5 fell 0.71% to 134.38 during the day. It reached 133.62 earlier, the lowest since August 16.
Fed Chairman Powell said Wednesday that it was time to slow down interest rate hikes, igniting hopes that the Fed is closer to the end of the tightening cycle, after which the dollar plummeted.
data on Thursday also showed that inflation was easing, with the personal consumption expenditure (PCE) price index rising 0.3% in September, and the PCE price index gained 6.0% in September after a 12-month to October. ING foreign exchange strategist Francesco Pesole said: "The market has indeed accepted the theme of the Fed's policy shift."
's next major U.S. economic indicator will be consumer price inflation data released on December 13. The Fed began a two-day policy meeting that day and announced the policy decision the next day. The Fed is expected to raise interest rates by another 50 basis points at this meeting. Federal Funds Rate Futures Traders now expect the Fed's benchmark interest rate to peak at 4.92% in May. Market News
On December 2, local time, German Federal Chancellor Scholtz exchanged views with CEOs of many large German companies at the Prime Minister's Office on the impact of the Russian-Ukrainian conflict on the German economy. The meeting focused on measures to mitigate the impact of high inflation, such as providing inflation compensation, and companies can pay employees a subsidy of up to 3,000 euros. This amount can be tax-free, while employees' actual income losses can be compensated. Participants also discussed the impact of high energy prices. In addition, participants agreed that the transition from Germany's economy to climate neutrality is a major challenge, but it is also an opportunity for Germany to develop an energy-saving and climate-friendly technology market. This is the third time this form of talks was held this year, with German Federal Minister of Economic Affairs Habek and Finance Minister Lindner also participated in the talks.
EU agreed to set a price cap of $60 per barrel for Russian oil exports
According to a Polish diplomat, the EU agreed to limit the price cap of Russian oil exports to $60, paving the way for a broader price limit agreement for G7. The price of $60 is higher than most of the crude oil that Russia has sold, because one of the purposes of the price limit measures itself is to maintain Russian oil flow to the global oil market. However, the price of $60 is lower than the previously proposed price due to pressure from Poland and the Baltic countries. After a long period of negotiations, EU countries have successfully added additional conditions to the agreement, allowing them to modify the cap price every two months. In addition, there is a measure to ensure that any adjustment to the price cap should be at least 5% below the market average.
U.S. President Biden signs a bill to avoid national railway workers strikes
U.S. President Biden has signed a bill to avoid national railway workers strikes to resolve labor disputes among railway workers. It is reported that the House of Representatives passed the bill on November 30 local time, and the Senate also voted to pass it on December 1 and submitted it to Biden. Without the bill, rail workers across the United States could strike as early as December 9, which would lead to a series of problems including shortages of goods, soaring prices and factory shutdowns.
Russian Vice Prime Minister: The EU sets an oil price upper limit and will not affect Russia's oil production in December
On December 2 local time, International News Agency quoted Russian Vice Prime Minister Novak's statement that the EU set an oil price upper limit and will not affect Russia's oil production in December. Russian Deputy Prime Minister Alexander Novak said that despite the uncertainty, Russian oil will still have enough demand.(CCTV News)
International Energy Agency: 2022 Global Economy Energy Utilization Efficiency Increased by 2% compared with 2021
According to a report released by the International Energy Agency on December 2, the energy utilization efficiency of the global economy in 2022 Energy Utilization Efficiency in 2022 is 2% higher than in 2021, and the "improvement speed" is almost 4 times that of the past 2 years and twice that of the past 5 years. The International Energy Agency pointed out that if the current pace of progress can continue in the coming years, 2022 may be a turning point in utilizing energy efficiency.
Japan has established a medical system for treating 900,000 people in a single day. Preventing the COVID-19 and influenza epidemic at the same time
Japan's Ministry of Health, Labor and Welfare announced on the 2nd that in order to prevent the COVID-19 epidemic and influenza epidemic at the same time, a system for treating up to 900,000 people in a single day through fever clinic , telephone and online diagnosis and treatment has been established. In order to provide appropriate medical care to the elderly and children with higher risk of severe illness, the Ministry of Health and Labor has previously required all prefectures to strengthen the outpatient medical system.
The latest forecast for global cereal production in 2022 is 2.756 billion tons
FAO "Cece Supply and Demand Brief": The latest forecast for global cereal production in 2022 is 2.756 billion tons, lowered 7.2 million tons month-on-month , a year-on-year decrease of 2.0% (57 million tons). And over the past three years, the world's grain production has increased by an average of 56 million tons per year. The cut in cereal production this month was driven mainly by corn, followed by wheat.
HTM3HTM3HTM3HTM4: Improve the management of domestic bond issuance of overseas institutions and promote the further opening of the financial market
HTM5In order to further expand the two-way opening of the financial market, recently, the People's Bank of China and the State Administration of Foreign Exchange jointly issued the "Notice of the People's Bank of China on the Management of Funds for the Management of Domestic Bond Issuance of Overseas Institutions" (hereinafter referred to as the "Notice"), to improve the requirements for the management of domestic bond issuance of overseas institutions (hereinafter referred to as the Panda Bond) funds, and further facilitate overseas institutions to raise financing in the domestic bond market .
The main contents of the "Notice" include: First, unify the management rules such as panda bond fund registration, account opening, fund exchange and use, and statistical monitoring in the interbank and exchange market. The second is to standardize the registration and account opening process. Register with the bank before the issuance of panda bonds, allowing the first registration and opening of an account during installment issuance, and the issuance information can be submitted one after another after the subsequent issuance, and a bond issuance special account can be used. The third is to improve the foreign exchange risk management of panda bonds. Overseas institutions can conduct foreign exchange derivative transaction management with domestic financial institutions exchange rate risk . Fourth, it is clear that the funds raised by are raised by can be retained in China or remitted to overseas for use.
"Notice" will come into effect on January 1, 2023. (Official website of the People's Bank of China)
Oil prices are about to be adjusted! No. 92 gasoline may return to the 7 yuan era
new round of refined oil price adjustment will start at 24:00 on December 5. According to Zhuochuang Information , the closing on December 1st, the domestic reference crude oil change rate for the 9th working day was -9.18%. It is expected that the steam will be lowered by 415 yuan/ton. After the price increase, No. 92 and No. 95 gasoline will be lowered by 0.33 yuan and 0.34 yuan respectively. At 24:00 on December 5, the domestic retail price limit for refined oil may usher in a "second consecutive decline".
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-