Oil and dollar stabilize during Tuesday morning trading

Oil and dollar stabilize during Tuesday morning trading

Oil and dollar stabilize during Tuesday morning trading while Asian stocks rebound

 

Oil prices were virtually unchanged on Tuesday after
the previous day’s trade ended on growth,
and Asian stocks recovered from their recent losses,
tracking a late-session rebound on Wall Street,
with the dollar holding steady near
a two-decade high against its major counterparts.

 

topic’s

Oil prices stabilize on Tuesday morning and Brent at $92.08 per barrel

Asian markets rebound as Japan’s core inflation rises

The dollar stabilizes as markets prepare for big Fed rate hike again

 

 

 

 

 

 

 

 

 

 

Oil prices stabilize on Tuesday morning and Brent at $92.08 per barrel

 

By Tuesday morning, November futures for Brent crude on
the London Futures Exchange in London cost $92.08 per barrel,
$0.08 higher than the previous session’s closing price.

 

As a result of Monday’s trading, these futures rose by $0.65 or 0.7 percent to $92 per barrel.

 

The price of October WTI oil futures in electronic trading of the New York
Mercantile Exchange (NYMEX) by this time fell
by $0.06, or 0.07 percent to $85.30 per barrel. 

 

By the market close on Monday, the value of those
futures had risen by $0.6 to $85.36 per barrel.

 

Traders’ focus this week is on a number of central bank meetings globally,
including those of the Federal Reserve and the Bank of England. 

 

Concern about the fact that the rapid tightening of monetary policy by
the world’s central banks will lead to a recession in the global economy,
and the decline in oil demand is one of the major factors
that has driven the oil market down in recent months.

 

In the meantime, the potential increase in market supply
could have a negative impact on oil prices,
as U.S. President Joe Biden’s administration announced it would sell
an additional 10 million barrels of oil from the strategic reserve.

 

Additionally, UAE National Oil Company ADNOC announced measures to increase
production to 5 million barrels of oil per day
by 2025 from 3.4 million barrels per day currently.

 

In the meantime, refineries in China have bid for an additional 15 million
tons of petroleum products as part of their export share,
which could increase the world’s fuel supply.

 

artical name Oil and dollar stabilize during Tuesday morning trading

 

 

 

 

 

 

 

 

 

Asian markets rebound as Japan’s core inflation rises

 

Stocks in the Asia-Pacific region rose on Tuesday as inflation accelerated
in Japan and China kept the loan’s base interest rate unchanged,
and investors are also looking forward to a Federal Reserve meeting in the United States.

 

Hong Kong’s Hang Seng index rose by 1.33 percent and the Hang Seng tech index rose by 2.54 percent.

 

China’s Shanghai Composite Index rose by 0.46 percent and Shenzhen advanced by 0.87 percent.

 

In Australia

the S & P/ASX 200 advanced by 1.25 percent,
while Japan’s Nikkei 225 rose by 0.45 percent after returning to trading after a holiday,
and the Topix index rose by 0.5 percent.

 

South Korea’s Kospi rose by 0.49 percent, the Kosdaq rose by 0.97 percent
and the broader MSCI Asia-Pacific stock index advanced by 1.13 percent.

 

Japan’s core inflation rate rose by 2.8 percent from a year ago,
the fastest increase since late 2014,
and China’s main loan interest rate remained unchanged on Tuesday,
in line with expectations.

 

Hong Kong tech stocks rose in Asia morning trading,
with Alibaba rising by 3.88 percent, and JD.com rising by 3.86 percent,
after Chief Executive John Lee said the government planned to
announce changes to the city’s hotel quarantine rules for travelers. 

 

The Central Bank of Australia says the argument for boosting slower rate hikes,
as RBA board members argue, that slower rate hikes have become stronger,
according to minutes from the September 6 meeting,
where the interest rate was raised by 50 basis points to 2.25 percent.

 

In Tuesday’s minutes,
the Board expected interest rates to increase further in the coming months,
but was not on a predetermined track given uncertainties
surrounding inflation and growth expectations.

 

In Japan, government data showed Japan’s core consumer prices
rose by 2.8 percent in August compared to last year.

This is the fastest growth in nearly eight years,
and for the fifth consecutive month,
inflation exceeded the central bank’s target of 2 percent.

 

 

artical name Oil and dollar stabilize during Tuesday morning trading

 

 

 

 

 

 

 

The dollar stabilizes as markets prepare for big Fed rate hike again

 

The dollar held steady near a two-decade high against its major counterparts on Tuesday,
as investors braced for a rate hike again by the Federal Reserve as it struggles to control frantic inflation.

 

The dollar index, which measures the greenback against six counterparts,
rose by 0.09 percent to 109.64,
now flat after falling from a high of 110.79 earlier this month,
a level not seen since June 2002.

 

The dollar rose by 0.07 percent to 143.29 yen,
continuing to strengthen over a week after two attempts at 145 this month
reached 144.99 on September 7 for the first time in 24 years.

 

The euro was little changed at $1.00235,
having slowly risen over the past week and strengthened its position above parity,
falling to $0.9864 on September 6 for the first time in two decades.

 

Sterling fell slightly at $1.14,245,
settling after falling to a 37-year low of $1.13,510 last weekend.

 

The Australian dollar declined by 0.11 percent to $0.67195,
while the New Zealand dollar, its counterpart,
declined by 0.24 percent to $0.59425.

 

 

artical name Oil and dollar stabilize during Tuesday morning trading

 

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