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<ul><li>Russia intends to fully fulfill its obligations to voluntarily reduce oil and fuel supplies as early as January</li><li>OPEC+ countries are ready to strengthen oil production cuts in Q1 2024 to eliminate speculation and volatility</li></ul><p>Oil held the November lows on the first attempt.</p>

<p>The oil bulls are giving up.</p><p>Today is the fourth straight day of selling since the OPEC+ decision to cut output and it could be the seventh consecutive week of declines. Increasingly, the fear in the energy market is that OPEC is out of bullets and that we're heading towards a war for market share once […]

<p>The December hangover in markets continues today with the US dollar higher again despite lower yields. Asian stocks were particularly soft but Europe has been solid.</p><p>I don't think the trading day will really start until 10 am with the release of November ISM services data and the October JOLTS job openings data. The

<p>Via a report in Japanee media, Nikkei, canvassing a proposal that would see companies in Japan no longer having to pay tax on unrealized cryptocurrency gains if they hold on to the digital assets</p><p>It's a proposal being discussed by the country's ruling coalition. </p><ul><li>cryptocurrencies hel

<p>ICYMI – China's state banks were in the FX market on Tuesday afternoon, intervening to prop up the yuan:</p><ul><li>major state-owned banks buying yuan and selling US dollars (by swapping yuan for dollars in the onshore swap market, then selling the dollars in the spot market)</li><li>after Moody�

<p>The data is for November, not October. This data from AiG used to be a focus but the S&amp;P Global PMIs are now more closely watched. </p><p>Key points from the report:</p><ul><li>The Ai Group Australian Industry Index sank deeper into contraction in November on the back of falling demand and activity. &l

<p>UBS is wary of diminishing demand for CHF and recommends a 'tactical' long USD/CHF around current levels. </p><p>Separately analysts at the bank have previewed the Swiss National Bank policy meeting next week (Thursday 14 December), expecting the SNB to remain on hold. Market pricing is also expressing rate hike expec

<p>The major US stock indices are closing with mixed results. The NASDAQ moved higher while the S&amp;P was near unchanged and the Dow Industrial Average closed lower.</p><p>A snapshot of the closing levels shows:</p><ul><li>Dow industrial average fell -79.90 points or -0.22% at 36124.57</li><li>S

<ul><li><a href="https://www.forexlive.com/news/jolts-october-job-openings-8733m-vs-9300m-estimate-20231205/">JOLTs October job openings 8.733M vs 9.300M estimate. Lowest level since March 2021.</a></li><li><a href="https://www.forexlive.com/news/us-november-ism-services-527-vs-520-expected-2023

<p>Australian economic growth data for Q3 2023 is the data agenda highlight. Higher interest rates are biting into economic activity, GDP is thus expected to have grown more slowly. </p><p>This snapshot from the ForexLive economic data calendar, <a href="https://www.forexlive.com/EconomicCalendar" target="_blank&