{"id":1561,"date":"2021-07-19T09:16:41","date_gmt":"2021-07-19T12:16:41","guid":{"rendered":"https:\/\/wintrademarkets.com\/news\/?p=1561"},"modified":"2021-07-19T09:16:43","modified_gmt":"2021-07-19T12:16:43","slug":"opec-deal-delta-rise-and-bidens-china-rethink","status":"publish","type":"post","link":"https:\/\/wintrademarkets.com\/new\/2021\/07\/19\/opec-deal-delta-rise-and-bidens-china-rethink\/","title":{"rendered":"OPEC deal, delta rise and Biden’s China rethink."},"content":{"rendered":"\n

Wyllian Capucci
07\/19\/2021<\/em><\/p>\n\n\n\n

Driving production<\/strong><\/p>\n\n\n\n

The agreement reached over the weekend by OPEC and its allies to increase themonthly supply at 400,000 barrels per day reduces the risk of an increase in inflationof the oil price.\u00a0West Texas Intermediate for August delivery has been negotiatedbelow $70 a barrel this morning.\u00a0Strategists see the business leading to someweakness in short-term prices as investors unwindof purchase.\u00a0Although the deal reached over the weekend spans more than a year,it remains flexible, with the alliance continuing its monthly meetings fromSeptember<\/p>\n\n\n\n

Growing cases<\/strong><\/p>\n\n\n\n

Pandemic resilience remains a major issue for the global economy.\u00a0Youcases are increasing in Asia, with Indonesia’s daily case countsurpassing India, Singapore reaching the highest number in 11 months and Thailandreporting the highest number since the onset of the pandemic.\u00a0In Europe, the UK islifting restrictions on the coronavirus today, as cases increase in theworld and Prime Minister Boris Johnson is isolating himself after his close contactwith the country’s health minister who tested positive.\u00a0Cases in the US increased the most60% last week and although hospitalizations remain a fraction ofpeak, are also increasing rapidly.<\/p>\n\n\n\n

Trade agreement?<\/strong><\/p>\n\n\n\n

The Biden government’s view of the US-China trade agreement was clearlydemonstrated by Treasury Secretary Janet Yellen in an interview with New YorkTimes, in which she said she didn’t address the “fundamental issues we have with theChina.\u201d His comments come as the two largest economies in theworld face each other on a wide range of issues, from Hong Kong to rights.humans to the pandemic.\u00a0In Congress, a bill recently approved by theChamber aimed at hampering China’s ability to recruit American scientistsshows Washington’s willingness to confront the growing influence of the Asian country<\/p>\n\n\n\n

Market crash<\/strong><\/p>\n\n\n\n

The pandemic is at the front and center of investors’ minds this morning,as global stock indexes plunge with renewed fears about theeconomic growth.\u00a0Overnight, the MSCI Asia Pacific index fell 1.3%, while theJapan’s Topix index closed 1.3% below.\u00a0In Europe, the Stoxx 600 Index was decliningby 1.6% at 6:50 am GMT, with energy and mining stocks having the worstperformances in a session in which all sectors of the industry fell.\u00a0the futures ofS&P 500 pointed to losses at the opening, the 10-year Treasury yield was at1.259% and gold was down.<\/p>\n\n\n\n

Source:https:\/\/wintrademarkets.com\/<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Wyllian Capucci07\/19\/2021 Driving production The agreement reached over the weekend by OPEC and its allies to increase themonthly supply at 400,000 barrels per day reduces the risk of an increase in inflationof the oil price.\u00a0West Texas Intermediate for August delivery has been negotiatedbelow $70 a barrel this morning.\u00a0Strategists see the business leading to someweakness in […]<\/p>\n","protected":false},"author":2,"featured_media":1109,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-1561","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-hft"},"_links":{"self":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts\/1561","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/comments?post=1561"}],"version-history":[{"count":1,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts\/1561\/revisions"}],"predecessor-version":[{"id":1562,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts\/1561\/revisions\/1562"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/media\/1109"}],"wp:attachment":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/media?parent=1561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/categories?post=1561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/tags?post=1561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}