US crude Oil production rose to a record level of 13.47 million barrels per day in April, according to the US Energy Information Administration, Commerzbank’s commodity analyst Carsten Fritsch notes.
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The Australian Dollar keeps marching higher against a depressed US Dollar.
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Australian May 2025 building permits +3.2% m/m
+6.5% y/y
The main focus is on the retail sales data and what they mean for an RBA rate cut next week:
This article was written by Eamonn Sheridan at www.forexlive.com.
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Following the Fed meeting in June, the US dollar continues to face headwinds, while US stock indices have hit new all-time highs. This week, market participants will review the minutes of the Fed’s June meeting to better assess the prospects for the US central bank’s monetary policy. Additionally, in the upcoming week of 07.07.2025–13.07.2025, market participants will focus on the release of crucial macroeconomic statistics from the Eurozone, the US, China, Germany, Canada, as well as on the results of the meetings of the central banks of Australia and New Zealand. Note: During the coming week, new events may be added to… Read full author’s opinion and review in blog of #LiteFinance
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The Gold price has been on the rise again since yesterday, Commerzbank’s Head of FX and Commodity Research Thu Lan Nguyen notes.
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Median UK pay awards rose to 3.4% in the three months to May, up from 3.2%, driven partly by April’s minimum wage hike.
Info via Reuters, citing a survey by Incomes Data Research:
Public-sector pay averaged 3.6%, while the 9.7% rise in the National Living Wage had a stronger impact on services than manufacturing.
Bank of England monitoring closely, as wage growth remains a key inflation risk; pay pressures may challenge its forecast for slowing inflation.
This article was written by Eamonn Sheridan at www.forexlive.com.
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Get the forecast for the Dow Jones Industrial Average for 2024. Read technical and fundamental analysis of DJIA. View a US30 live chart.
The post 2024 Dow Jones Index Forecast: Unveiling the Potential for Record Highs & Investment Insights appeared first at R Blog – RoboForex.
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Bessent was speaking in an interview with Fox:
It’s a bit tough to figure out what Bessent is doing here. He is, according to Musk, a failed hedge fund manager so its always possible that he really doesn’t understand tariff impacts on inflation, but I suspect he is parroting Trump-approved b/s instead.
Anyway, the probability of a September Federal Open Market Committee (FOMC) rate cut is on the up.
Bessent is US Treasury Secretary.
This article was written by Eamonn Sheridan at www.forexlive.com.
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Trump is also lagging behind his own ambitions on another important point of his energy policy agenda, Commerzbank’s commodity analyst Carsten Fritsch notes.
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Trump: Israel agrees to 60-day Gaza ceasefire proposal – via a post on his social media app.
Anything that relieves the suffering of the people in Gaza would be great.
This article was written by Eamonn Sheridan at www.forexlive.com.
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OPEC+ meets on July 6, the cartel is expected to hike August output by 411,000 bpd.
Russian Deputy Prime Minister Alexander Novak says the decision will be made on the day:
The group has been steadily adding back oil output since April:
This article was written by Eamonn Sheridan at www.forexlive.com.
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The Diapazon MT4 Indicator helps traders visualize price zones where the market tends to bounce or stall. It draws upper and lower range lines based on recent price behavior, making it easy to identify where the price is likely to move next. These lines act like invisible walls, showing traders the boundaries where price might […]
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