US Crude Oil Breaks $100 & BOJ Hike Path
US crude oil surged back above $100/barrel while BOJ signals continued rapid rate hikes focused on December, with rates described as still 'far from neutral.' UK PMI beat also adds macro colour.
What we know
The most market-moving macro headline of the hour: An account on X broke that US crude oil is back over $100. Simultaneously, BOJ sources indicate rates are still far from neutral, rapid hikes continue with December in focus, and inflation must stabilize near target first. On the positive side, UK October Composite PMI beat at 53.1 vs 51.7 estimate. Crypto traders are watching BTC closely in this environment, with another account on X noting BTC trades in lockstep with Nasdaq and flagging support at $78.2k.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.