Russia Responded To The Europeans' Price Cap, China Reopening Story Is Not All Rosy!
Aa
Share
Yesterday, Russia finally responded to the EU’s price cap on its oil exports, saying that they will simply stop exporting their oil to parties that ‘directly or indirectly use the mechanism of setting a price cap’.
Crude Oil
The latter announcement gave a minor boost to crude oil yesterday, but the barrel of American crude remained offered into the 50-DMA, near $81.60pb, and the price is back below the $80pb this morning. BUT, an eventual decrease in Russian oil supply gives support to the oil bulls’ in the medium run, along with other factors as China reopening and cold winter in America.
China reopening news
IMPORTANT to note: If the Chinese reopening story is positive for oil and commodity prices - and for the massively battered Chinese stocks, it’s bad news for global inflation.
This is why we don’t see the US stocks gain on China reopening news, but we rather see them under a decent pressure, as the surge in Chinese demand will certainly boost inflation through higher energy and commodity prices.
Inflation
And in response to higher inflation, the central banks will continue hiking rates.
As a result, the sovereign bond yields are higher, the stocks are lower, while the US dollar is mixed.
Apple And Tesla
Apple is down to lowest levels since summer 2021, and Tesla’s deep dive deepens by the day.
Watch the full episode to find out more!
- 0:00 Intro
- 0:44 Russians won't sell oil to parties involved in price cap
- 3:32 China reopening story is not all rosy!
- 6:03 Bitcoin hash rate rings alarm bell
- 7:30 Tesla races to the bottom
Ipek Ozkardeskaya
Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020.
#Russia #oil #ban #China #Covid #reopening #crudeoil #rally #inflation #expectations #USD #EUR #AUD #XAU #Bitcoin #Apple #Amazon #Tesla #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____
Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr
_____
Discover our brand and philosophy: https://swq.ch/wq
Learn more about our employees: https://swq.ch/d5
_____
Let's stay connected: LinkedIn: https://swq.ch/cH
