Manchin comments to NBC News Comments from Senator Manchin yesterday highlight a path forward on US infrastructure that could involve a bi-partisan infrastructure deal on physical infrastructure coupled with a Democrat-only bill that focuses on what Biden calls ‘human infrastructure’. Manchin is key because he’s a soft Democrat who has insisted on trying to strike
Losing -1.8% month-to-date, CNY has erased much of the gain made against USD since the beginning of the year. While the broadly based USD rally after the June FOMC meeting is the major driver, PBOC’s intervention has also prevented the renminbi from having meaningful gains. In April and May, CNY appreciated about +2.8% against USD.
MELBOURNE: Oil prices rose on Wednesday after industry data showed US crude inventories fell more than expected, reinforcing views of a tightening supply-demand balance with road and air travel picking up in Europe and North America. US West Texas Intermediate (WTI) crude futures jumped 33 cents, or 0.5%, to $73.18 a barrel at 0217 GMT,
Trading in the forex markets is rather subdued today, as in other financial markets. Dollar continues to consolidate recent rise while European stocks and US futures are treading water. Focus turns to Fed Chair Jerome Powell’s testimony for fresh inspirations. . Sterling bulls hesitated in early part of European session, but quickly regained grounds. The
European Session June 22  Other markets FTSE +0.22% Euro Stoxx -0.3%% Italian FTSE -0.43% Dax +0.05% CAC +0.05% Oil was further supported on demand recovery hopes & OPEC+ is making sure supply is tight. Private inventory data out tonight.  The drag on inventories and the pushing out of the time spreads as Adam pointed out alongside raising bullish
The forex markets are generally staying in consolidative mode today. Dollar and Yen pulled back slightly overnight, together with the notable rebound in stocks. But both are regaining some grounds while commodity currencies soften. Traders would likely be holding their bets on the next move first, waiting for some more guidance from Fed Chair Jerome