22:47:58
The New Zealand dollar NZD/USD fell more than 0.50% on the day and is now at 0.6123.
22:47:36
Sources said Saudi Arabia will cut production by 1 million barrels per day, Russia will cut output by 500,000 barrels per day, and other countries will also cut production further.
22:45:21
The Chicago PMI in the United States recorded 55.8 in November, a new high since May 2022.
22:45:02
The U.S. Chicago PMI in November was 55.8, compared with the expected 45.4 and the previous value of 44.
22:45:00
The Israeli military said it expected more Israeli hostages to be handed over to the Red Cross in the coming hours.
22:44:37
The Israeli military said two Israeli hostages were en route to Israeli territory based on information provided by the Red Cross.
22:43:53
EUR/USD fell below 1.09, down 0.66% on the day.
22:43:21
Representatives at the meeting said that Saudi Arabia will extend its production cut by 1 million barrels per day.
22:40:15
U.S. and Burkina Faso oil rose by $0.8 in the short term, now trading at $79.47/barrel and $84.32/barrel respectively.
22:39:23
Algerian Energy Minister: Algeria has agreed to cut its oil production by an additional 50,000 barrels per day in January.
22:36:30
Representatives at the meeting said OPEC+ agreed to cut production by an additional 1 million barrels per day.
22:24:08
Bill Adams, chief economist at Comerica Bank: The Fed is on hold for now, but they are getting closer to cutting interest rates. Inflation has slowed significantly and the job market has softened faster than expected.
22:09:58
Traders cut bets on the extent of interest rate cuts in 2024.
22:09:18
Market News: Meta Platforms (META.O) sued the U.S. Federal Trade Commission (FTC), claiming that internal procedures were unconstitutional. The company asked the court to temporarily halt the reopening of the privacy case.
21:46:34
According to the Wall Street Journal: The United States wants Turkey not to support Hamas and Russia.
21:44:33
Financial website Forexlive commented on Canadian GDP data: The report stated that the decrease in international exports and the slowdown in inventory growth were partially offset by increases in government spending and housing investment. Exports of goods and services fell 1.3% in the third quarter after rising 1.3% in the second quarter. The decrease was primarily driven by refined petroleum energy products, which fell 25.4% in the third quarter after growing 23.9% in the second quarter. This looks like a refinery maintenance and oilfield turnaround issue rather than a big problem in the economy.
21:39:53
Market News: The OPEC+ Joint Ministerial Monitoring Committee (JMMC) begins meeting to discuss potential 2024 oil production cuts.
21:38:50
Caspian Pipeline Alliance: One of the three single-point moorings at the Black Sea terminal has been damaged and oil is being loaded via SPM 1 and SPM 2.
21:38:40
Financial website Forexlive commented on U.S. initial claims data: Earlier this year, the number of initial claims for unemployment benefits remained stable/slightly increased, but the number of continuing claims for unemployment benefits fell, indicating that people found jobs after losing their jobs. Now, continuing claims are rising, a sign that unemployed people are not finding work. As a result, the job market is becoming weaker. Continuing claims for unemployment benefits rose to the highest level since November 2021.
21:38:26
Market news: The EU plans to announce a windfall profits tax plan for Russian assets on December 12.