Waiting for the Fed

Apart from the continued increase in oil prices, the market is fairly calm. The Fed meeting ends today with its traditional press release and Mr. Powell press conference. The likelihood of a really big surprise is very low, but Fed members’ forecasts should nevertheless point to earlier monetary tightening than previously expected. The USD is stable, around 1.2120 vs the euro.

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Energy-sector correction

Font-month prices in the crude and refined product market dropped sizably, with Dec-21 ICE Brent dropping from 85 $/b to 82 $/b before rebounding on…
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