Aramco x oil shortages 🛢️ Stocks fall 📉 ECB x EURUSD 💼 Jobs & manufacturing 👀 Surging commodities ⚠️

FlowBank's hand-curated fresh financial news [header_noDither] 19.01.2023 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [pexels- oil] The chief of the world’s largest oil company, Saudi Aramco warmed about global crude supplies in the mid-to-long term. Aramco pumps about 10% of the world’s crude oil supply. He is worried that the growing demand, particularly from China's reopening will be difficult to accommodate. [Start Trading](113/cXx8Z04/VWbcr21b22_vW29V8Rj61NwGdW8wLjj94V-c4KN7Mjfxk2-MK5V1-WJV7CgFDXVcq_Qd3KyHrjW8KSkLj7KsnqMW5527__1by_FfW4wCyQG5mzybhW21qC7m3L0pP4W66t5qk1xCDnYW4zvQmq7RhxLXW60FgtP1RS375W803bd17Ygl92W692Q6k87jfbhW8KgWHh5DXbfPW1vWHV83xLgv7W684sq_1sK27yW3jjgzm8rFC8PW883m4g4QlGsfW3QCm9h5W_SK2W2RrHTp2rRRJCW3Bg1m14mSmbgW862HLb53sZBsW8SpQM-3tScLg3pK21) Trader's Corner In focus • ECB account of monetary policy meeting will offer traders more insights into the path of hiking interest rates in the eurozone. It could add to volatility in the euro-dollar and European stocks. • On the economic calendar in the US we have building permits but really traders will focus on jobless claims and manufacturing data for January. Stocks could gain more momentum if data shows the economy is bad. • Lastly, commodities are rapidly gaining momentum again this year, which could cause some headwinds to stocks as investors worry that rising commodity prices will slow the economy and cause inflation. Economic data • US building permits, jobless claims, Philadelphia Fed Manufacturing Index (Jan) • ECB account of monetary policy meeting • Crude oil inventories Earnings • Procter & Gamble, Netflix • PPG Industries, Fastenal • Atlassian Corp Crypto • Coinbase (COIN) confirmed that it would be shuttering operations in Japan, asking users to withdraw any funds by February 16. • Metaverse property startup Metahood raises $3M to build the Zillow of the metaverse. It developed a platform for buying and selling virtual real estate. [Screenshot 2023-01-19 at 04.20.41] [Start Trading](113/cXx8Z04/VWbcr21b22_vW29V8Rj61NwGdW8wLjj94V-c4KN7Mjfxk2-MK5V1-WJV7CgHcMVbLbL39dX48DW4vpm2k7qNjl8W1g6Dv598GvWrW37jgZp47tVwlW3PvvGM2JYpvgW5-JcgM6xRkFDW5RRvrS4f-RMCW7Hr51N1CYs78W1PyCCC27yRShW6rkDg51WFg9YW8KPv3T6mkTqFW14Gpl91RbVHMW5YytZP8R-fHSW7y_v9x292m-vW6r60Q-31GYm9W4rj4Yc7nmMqdW2_rNnj6vV-lZW2b_YTx868fBmW8HGQPK3pVjlJW8spKp5776ktq3cWr1) Market Recap US stocks came under pressure, with the S&P500 falling below its 200-day moving average despite a better-than-expected PPI reading. Microsoft's news of laying off 5% of its workforce weighed on investors' sentiments. And weaker retail sales numbers pointed to a cloudy growth outlook. There was a healthy demand for Treasuries; yields on the 10-year US bonds fell to 3.36%, the lowest since Sep 2022. And the dollar's consolidation continued. In Europe, stocks performed slightly better, with Stoxx50 losing just 0.5%. And WTI saw its first pullback from its rally that started on Jan 9th. This morning, S&P500 futures are little changed ahead of a packed day with ECB 'minutes', and US macro data. And the New Zealand dollar is weakening against its peers following the resignation of the NZ prime minister Jacinda Ardern. Chart Of the Day Oil advanced more than 2% to trade at its highest since early December on optimism that Chinese demand will recover. [Oil 18012023](113/cXx8Z04/VWbcr21b22_vW29V8Rj61NwGdW8wLjj94V-c4KN7Mjfx12-MJQV1-WJV7CgGt7W6qhj6F28JnRgW8_RkVN5V4cwdW33qXgj4G7gF-W7LW0CY6wLQHlW1lNbSQ6c5q6xW82MLwp4t7V9zN4yPH_xY3SDyW77lh7D6n4SRXVDpvH23YfZxKW36B9kQ15RdSYW4RywqW4sBctxVKTYYq93bz5RW8PFnhS1wr-PlVqK7G0348w9bW3w_0xt737vJbW2jtHhX2GnMcsW6X13835krXbMW3kDzvQ8VGywP3gt31) FlowBank Blog How does China’s reopening affect your portfolio? [Shanghai pexels](113/cXx8Z04/VWbcr21b22_vW29V8Rj61NwGdW8wLjj94V-c4KN7Mjfx12-MJQV1-WJV7CgCyFW8639sQ1XY25mW2Nj-8-2dxqr-W84pG7Z7RNkYCW4Wzh4_4g8Wy5W5ydKYf5lZmQ0W6HfSC41gkF4WW4mMkcB8nz6MnW90lxSV6kkvrXW6B-xMV5D_bR5N2wRbBhkXGHJN2F43Q6vnpmPW5FTgbK2Yf5Q3W8w0HCf9gLdvgW9gFyZ881y3fSW1qkPj54J-rnGW2QshNj2Zx7DXW2DHSLp6X-0nnVNMnKJ4NGkpY342L1) China’s reopening may just be the catalyst that is needed to stimulate global growth. What are the investment implications, and could there be some negative repercussions? 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