Bloomberg reports on the main influences trapping oil prices. Bloomberg is gated, but in brief: Oil traders grappling with tension between warnings of a weakening market and strong current prices near $70 a barrel. The International Energy Agency and the US Energy Information Administration expect a surplus of oil next year, with the IEA projecting a surplus of 2…
Since US President Trump’s reciprocal tariffs address on April 2, the EUR is the second best performing G10 currency after the safe-haven CHF, Rabobank’s FX analyst Jane Foley reports. EUR holds ground amid tariff turmoil “The EUR’s resilience has stemmed from the optimism triggered by the relaxation in Germany’s debt brake in March and by the broad-based assumption that…
Industrial profits in China fell 4.3% y/y in June, following a 9.1% drop in May, according to the National Bureau of Statistics. First-half 2025 profits declined 1.8%, compared to a 1.1% drop from January–May. The decline was driven by persistent producer deflation, weak domestic demand, and ongoing global trade uncertainty. Price wars in industries such as autos and solar…
United States Baker Hughes US Oil Rig Count came in at 415 below forecasts (421)
Mon: US Dallas Fed (Jul), German GfK (Aug) Tue: US Consumer Confidence (Jul), JOLTS (Jun) Wed: FOMC & BoC Policy Announcements; ECB Wage Tracker, Australian CPI (Jun/Q2), German Retail Sales (Jun), Swiss KOF (Jul), EZ Flash Prelim. GDP (Q2), US ADP (Jul), GDP Advance (Q2), PCE Advance (Q2), Pending Home Sales (Jun) Thu: BoJ & SARB Policy Announcements; Chinese…
The Canadian Dollar fell even further against the Greenback on Friday. Trump has pivoted back to tariff threats on Canada as trade deals remain limited. The tariff deadline of August 1 is fast-approaching, and Canada has shown little movement thus far. The Canadian Dollar (CAD) took another hit on Friday, extending into a two-day backslide against the US Dollar…
Although, there are already reports that the US and China will extend the tariff pause for another 3 months, US Commerce Secretary Howard Lutnick on Sunday news programs said that the tariffs would go into effect on August 1. No more extensions (well, except for China?) He also said the European Union must open its markets to U.S. exports…
West Texas Intermediate declines as Venezuela and OPEC+ increase concerns about oversupply. Clarity on US–EU and US–China trade talks may guide the direction of WTI. WTI Crude Oil drops below $65.00 as technical pressure aligns with rising supply outlook. West Texas Intermediate (WTI) is under pressure on Friday as markets respond to a growing global supply outlook and remain…
The Bank of Canada will announce its interest rate decision on July 30 (the Fed announces on that date too) and all 28 economists surveyed expect that the the central bank will keep rates steady at 2.75% at that meeting.. The poll also projects that the Bank of Canada will cut the overnight rate to 2.25% or lower by…
NZD extends losses for the second day on Friday but remains on track for a weekly gain. US President Donald Trump signals “most trade deals are finished,” with talks nearing conclusion with China. US Treasury Secretary Bessent confirms tariff talks with China to resume next week in Stockholm. The New Zealand Dollar (NZD) extends losses for a second consecutive…
