forex cross rate

Scotiabank raised its price target for CrowdStrike from $227 to $250.

Melius Research: Raises its price target for Nvidia (NVDA.O) from $400 to $420.

The governor of the Bank of Korea said the dollar-won exchange rate remains high.

The governor of the Bank of Korea said the dollar-won market has stabilized.

① The US is currently approaching its peak diesel demand season. Diesel demand in the US exhibits a clear seasonality: late summer/autumn harvest → increased agricultural fuel use → rising diesel demand; subsequently, winter: → increased heating oil demand → further increase in distillate fuel demand. However, current inventories are at historically low levels for this time of year. This creates a combination of low inventory and the approaching peak season. Therefore, the diesel market will be more sensitive to supply disruptions. ② The average retail price of US highway diesel reached approximately $5.65 per gallon on August 24th, about $1.94 per gallon higher than a year ago, an increase of over 50%. It is also very close to the historical high of 2022. Therefore, this is not simply a matter of "poor inventory data," but rather: tight inventory has begun to be truly reflected in end-user prices. ③ The truly dangerous aspect of US diesel inventory data is not the "low inventory," but rather: US refineries are already operating at near full capacity, yet inventories remain at their lowest levels for this time of year since the 1980s, while agricultural harvest and winter heating demand are about to increase. Coupled with damage to Middle Eastern refineries, attacks on Russian refineries, and disruptions to transport through the Hormuz region, the current situation appears to be more of a global refined oil supply shortage than just a US inventory issue. This will have a ripple effect on diesel, refining stocks, oil prices, US inflation, and even the Federal Reserve's policies.

Qantas executives said the performance of its US routes over the past six months has been "very satisfactory".