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Oil: Chinese demand recovery could lift prices – NBC
National Bank of Canada's (NBC) Jocelyn Paquet analyzes how China’s sharp reduction in petroleum imports helped offset the Middle East supply shock and limit Oil price gains. The July rebound in Chinese imports is highlighted as historically large in percentage terms.
Euro remains little changed as US CPI fails to surprise the markets
EUR/USD trades around 1.1550 on Wednesday at the time of writing, up a modest 0.08% on the day.
United States Consumer Price Index Core s.a increased to 336.789 in July from previous 336.065
United States Consumer Price Index Core s.a increased to 336.789 in July from previous 336.065
United States Consumer Price Index n.s.a (MoM) below forecasts (333.99) in July: Actual (333.92)
United States Consumer Price Index n.s.a (MoM) below forecasts (333.99) in July: Actual (333.92)
United States Consumer Price Index ex Food & Energy (MoM) in line with expectations (0.2%) in July
United States Consumer Price Index ex Food & Energy (MoM) in line with expectations (0.2%) in July
United States Consumer Price Index ex Food & Energy (YoY) in line with expectations (2.5%) in July
United States Consumer Price Index ex Food & Energy (YoY) in line with expectations (2.5%) in July
Canada Building Permits (MoM) above forecasts (1%) in June: Actual (18.5%)
Canada Building Permits (MoM) above forecasts (1%) in June: Actual (18.5%)
United States Consumer Price Index (YoY) meets forecasts (3.4%) in July
United States Consumer Price Index (YoY) meets forecasts (3.4%) in July
United States Consumer Price Index (MoM) meets expectations (0.1%) in July
United States Consumer Price Index (MoM) meets expectations (0.1%) in July
IEA forecasts 4.3 million bpd drop in global Oil supply
The International Energy Agency (IEA) cut its global Oil supply and demand forecasts for 2026 amid shipping disruptions in the Middle East.
Australian Dollar: Gradual gains against US Dollar remain likely – MUFG
MUFG’s Michael Wan reports the Reserve Bank of Australia kept its policy rate at 4.35% in a unanimous decision. AUD/USD initially dipped on the statement but later rebounded as Governor Bullock reiterated hawkish inflation concerns.
US Dollar: Soft CPI risks weigh on outlook – ING
ING’s Chris Turner expects US July CPI to be the key driver for the Federal Reserve’s next move, with consensus looking for subdued headline and core readings that edge closer to the 2% target.
Japanese Yen: Intervention doubts as flows favor US Dollar – BNY
BNY’s Wee Khoon Chong highlights that institutional investors bought Dollar and sold Japanese Yen after the June BoJ hike, and again following late-July joint intervention to weaken USD/JPY. Despite official action, real money treated the move as a USD/JPY buying opportunity.