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According to Politico: Microsoft President Brad Smith dismissed US Vice President Vances allegations of visa fraud, calling them "completely untrue."On October 15th, Pan Gongsheng pointed out that escalating geopolitical conflicts remain the biggest uncertainty for the global economy. Significant fluctuations in some countries sovereign debt markets and the risk of valuation corrections in AI-related assets have exacerbated financial vulnerability. Promoting the modernization of financial regulation does not equate to relaxing regulation, and should not undermine the stability and risk resilience of the financial system. All parties should make full use of the G20 financial cooperation platform to strengthen macroeconomic policy coordination and jointly address global risks and challenges. Regarding global imbalances, all parties should have a more comprehensive analytical perspective. We cannot only look at the current account; we must also pay attention to financial channels, especially as global financial integration deepens, and we should pay more attention to the impact of financial factors such as capital flows on imbalances. Global imbalances cannot be addressed through exchange rate adjustments. Exchange rates are affected by a variety of factors, including economic growth, monetary policy, financial markets, geopolitics, and unforeseen risk events, and do not have a simple linear relationship with the current account. Deficit and surplus countries should work together to achieve a dynamic balance in the global economy.On October 15th, at the JD.com 11.11 launch event, it was announced that JD.com will create the 11.11 shopping festival with the deepest AI applications and the widest coverage of scenarios this year. Data shows that JD.coms JoyAvatar digital human, available 24/7 online, has served over 90,000 merchants this year, with the number of merchants using digital human live streams increasing by 340% year-on-year.The Gulf Cooperation Council announced that the Gulf-EU summit has been rescheduled due to Houthi attacks.On October 15th, Tmall held a press conference for its Double 11 shopping festival. Tmall President Jialuo stated in a media interview that Double 11 cannot revert to its original form of simply offering a 50% discount across the entire platform. He explained that the original Double 11 format primarily involved selling limited-quantity items. Now that it has become an event with hundreds of millions of consumers and millions of merchants participating, Double 11s focus is not on 50% discounts, but on merchants offering the lowest genuine discounts of the year.

Look at $83.88 on NYMEX crude oil

Oct 26, 2021 11:03

On Thursday (October 14), international oil prices rose. The reason is that with the advent of winter, high natural gas prices may prompt people to switch to oil to meet heating needs. NYMEX crude oil looks at $83.88.

At 14:15 GMT+8, NYMEX crude oil futures rose 0.85% to US$81.12/barrel; ICE Brent crude oil futures rose 0.90% to US$83.93/barrel.


Hiroyuki Kikukawa, general manager of Nissan Securities’ research department, said: “Investors are betting that with the arrival of the winter demand season, soaring natural gas prices will encourage power generators to switch to oil.”

The Organization of the Petroleum Exporting Countries (OPEC) said in its monthly report released on Wednesday that soaring natural gas prices may boost demand for petroleum products as end users switch to refined oil.

Oil prices are also supported by concerns about tight supply. Earlier, the U.S. Energy Information Administration (EIA) stated in its monthly report that the decline in U.S. crude oil production this year will exceed previous expectations, but it will rebound in 2022.

Kikukawa said: "The current tight supply in the crude oil market and the prospect of increased short-term seasonal demand support investor confidence, overwhelming the impact of higher-than-expected growth in US crude oil inventories and weak OPEC forecast demand."

According to data from the American Petroleum Institute (API), as of the week of October 8, US crude oil inventories increased by 5.213 million barrels, gasoline inventories decreased by 4.575 million barrels, and distillate inventories decreased by 2.7 million barrels. The official U.S. Energy Information Administration (EIA) weekly inventory data will be released at 23:00 GMT+8 on Thursday.

On the daily chart, U.S. oil is in an upward ((3)) wave starting from $61.74, and the upper resistance is looking at the 38.2% target of $88.66. On the hourly chart, oil prices are in an upward ((iii)) wave that started from $79.43. The upper resistance looks at the 38.2% target of $82.18 and the 61.8% target of $83.88. ((iii)) Wave is a sub-wave of five upward waves that started from $74.97.

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