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Crude oil futures fell to a three-month low in a row.
Crude oil futures fell for the sixth day in a row on Thursday in the early morning of Beijing time, closing at their lowest level since May. The accelerated spread of COVID-19 mutant strains has worried the market about the demand outlook, and the rise in the US dollar has put further pressure on oil prices. Edward Moya, senior market analyst at Oanda, said: "the six-day decline in crude oil futures seems to have gone too far, but to stop the decline may require a signal from the Organization of the Petroleum Exporting countries and its allies (OPEC+) that it may delay plans to increase production." "the oil market is still in short supply, with US WTI crude falling below 60," he said.
GM will replace battery modules for electric vehicles at risk of fire
General Motors Co said on Monday that all battery modules would be replaced for some Chevrolet Bolt electric vehicles that were recalled last month. GM announced last month that it would recall nearly 69000 Chevrolet Bolt electric vehicles worldwide because of defective battery modules and the risk of fire. This is the second time in less than a year that the company has recalled the electric car. After the first recall in November, there were two fires, including a Chevrolet Bolt with upgraded software. GM said on Monday that it would replace the recalled vehicle's lithium-ion battery module with a new battery module, rather than the entire one.
Us bond yield curve further flattens CPI surge strengthens expectations of interest rate hikes
The Treasury yield curve flattened on Tuesday, with higher-than-expected CPI in June, prompting traders to bet that the Fed will tighten monetary policy in early 2023. The gap between five-year and 30-year Treasury yields narrowed to less than 115 basis points, nearing the lowest level of 2021 hit last month. The yield on the five-year note rose to about 0.82 per cent, more than 20 basis points higher than it was in mid-February, while the 30-year yield fell. Money market traders expect the Fed to start raising interest rates in early 2023. CPI posted its biggest increase since 2008 in June, stimulating the bond market to a certain extent.
European stock markets were mixed on Monday, the French health minister warned of a new epidemic.
Original title: [European Express] OPEC + will renegotiate crude oil production French health minister warns of a new outbreak source: FX168 European stock markets are mixed on Monday, while the market keeps a close eye on oil prices ahead of the OPEC + oil alliance meeting. As of this release (18:10 Beijing time), the UK's FTSE 100th index, France's CAC index and Germany's DAX index rose or fell by + 0.24%,-0.01% and-0.22%, respectively. The pan-European Stoxx 600 index basically hovered near the flat line in early trading, on basic resource stocks.
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