*INTERNATIONAL NEWS 1/10/24*
1- Federal Reserve Update: Chairman Jerome Powell stated that there is no rush to cut interest rates, with decisions to be adjusted based on upcoming meetings. It is expected that there will be two more rate cuts this year, totaling 50 basis points. Bostic mentioned that if the labor market weakens, he may consider a further cut of 50 basis points. Goolsbee indicated that the rate-cutting process could last for a year or more.
2. Short-term Interest Rate Futures: Following the Fed officials' remarks, traders believe that a 25 basis point cut in November is more likely than a 50 basis point cut.
3. Middle East Situation: The Israeli military has initiated "limited" ground operations in southern Lebanon. The Israeli Security Cabinet has approved actions against Hezbollah. The Houthis have intensified their military response against Israel. The U.S. and the U.K. have called for citizens to leave Lebanon.
4. European Central Bank: President Christine Lagarde stated that the policy interest rate will remain sufficiently restrictive until the targets are met.
5. U.S. Department of Energy: The U.S. has purchased 6 million barrels of oil for its Strategic Petroleum Reserve, with delivery scheduled by May 2025.
6. Libyan Oil: Oil production that was expected to be suspended is set to resume on Tuesday.
7. Russia: Deputy Prime Minister Novak stated that Russia may extend the OPEC+ agreement beyond 2025 if market conditions require it.
8. Japanese Ministry of Finance: From August 29 to September 26, Japan's currency intervention amount was 0 yen.
