September 8, 2023
United States:
Dollar’s Relentless Rally Set for a Boost From Higher Oil Prices
Surging oil prices are set to power the next leg of the dollar rally, as the US economy benefits from its rise as an energy exporter.
Strategists at firms including Societe Generale SA and State Street Trust & Co. expect the greenback to extend its longest weekly rally on record as the outlook for higher crude prices boosts the world’s largest economy.
Europe:
ECB’s Hike-or-Pause Dilemma Going Down to Wire, Poll Shows
Economists see the European Central Bank lifting interest rates one last time to tame inflation — they’re just not sure it will happen next week.
A Bloomberg survey shows an almost even split between those anticipating a 10th consecutive hike on Thursday and those anticipating a “hawkish pause” before the deposit rate reaches a record 4% in October.
Asia:
Chinese Car Sales Hit Record High for August on Export Growth
China delivered 2.24 million cars wholesale in August, the most for a month this year and a record high for what is usually a slow period.
Deliveries of China-made electric vehicles and plug-in hybrids reached 716,000, up 35% from August 2022, the China Passenger Car Association said Friday.
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