WTI marches towards $75.00 as China-linked demand hopes poke recession woes – by anilpanchal7 Oil WTI China Coronavirus Commodities
buyers to keep the reins, after Friday’s mixed performance.
That said, the risk profile remains firmer amid China’s reopening of the national borders after a three-year halt. On the same line were comments from Guo Shuqing, party secretary of the People’s Bank of China . “Some 2 billion trips are expected this season, nearly double last year's movement and recovering to 70% of 2019 levels, the government says” reported Reuters while conveying China unlockOn the other hand, PBOC’s Shuqing said, “The world’s second-largest economy is expected to quickly rebound because of the country’s optimized Covid-19 response and after its economic policies continue to take effect.” dropped the most in three weeks the previous day, down 0.20% intraday near 103.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/CAD to display volatility contraction after a sell-off, oil hovers around $74.00The USD/CAD pair is displaying a sideways profile below 1.3450 in the early Tokyo session. A rangebound action is expected from the Loonie asset as sh
Read more »
Travelers Rush to Take Advantage of China ReopeningFirst international travelers are arriving in China without the mandatory quarantine that had been imposed at the start of the pandemic three years ago. The easing of border restrictions comes even as the virus continues to spread in China amid what critics say is a lack of transparency from Beijing. More foreign governments are imposing testing requirements on travelers from China — most recently Germany, Sweden and Portugal. On Sunday, thousands of travelers from semi-autonomous Hong Kong crossed into mainland China, some having been separated from their families since the pandemic. Like other passengers from abroad, they still have to show a negative test result taken within 48 hours _ a measure China has protested when imposed by other countries.
Read more »
A Win for America: Dell to Phase Out All Computer Chips Produced in ChinaComputing giant Dell reportedly plans to phase out all computer chips made by China by 2024. The company is also informing suppliers that they should shift their production out of China — or risk losing Dell as a customer.
Read more »
Warren Buffett-backed BYD bucks EV slump and zooms past Tesla in ChinaWarren Buffett-backed BYD soars past Tesla in China sales as the company bucks wider EV stock sell-off
Read more »
China reports three COVID deaths for January 6China reported three new COVID-19 deaths in the mainland for Jan. 6, compared with five deaths a day earlier, the Chinese Center for Disease Control and Prevention said on Saturday.
Read more »
China fx reserves rise $11 bln to $3.128 trillion in DecemberChina's foreign exchange reserves rose in December, official data showed on Saturday, as the dollar fell against other major currencies.
Read more »