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Subdued Market Compared to a Week Ago: Is the Dramatic Position Unwinding Over?
The capital markets have begun the week in subdued fashion. Japanese markets were closed for the Mountain Day celebration, and this week's key events, which include US and UK CPI, and the Reserve Bank of New Zealand meeting and potentially its first rate cut. The uncertainty about the market positioning and the extent of the carry-trade may also be dampening activity. The yen and Swiss franc are the weakest of the G10 currencies today, off around 0.4%. The Antipodeans are the strongest, gaining 0.3%-0.45%. Emerging market currencies are mixed. Asian currencies are mostly lower, while central European currencies are a ... (full story)
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From @FirstSquawk|Aug 12, 2024post: OPEC SAYS ITS CRUDE OIL PRODUCTION AVERAGED 26.75 MILLION BPD IN JULY 2024, UP 185,000 BPD FROM JUNE post: OPEC CUTS 2025 GLOBAL OIL DEMAND GROWTH FORECAST TO 1.78 MILLION BPD (PREV. FORECAST 1.85 MILLION BPD) post: OPEC CITES ACTUAL DATA RECEIVED FOR 1H 24 AND SOFTENING EXPECTATIONS FOR CHINA’S DEMAND GROWTH FOR CUT IN 2024 FORECAST post: OPEC CUTS 2024 GLOBAL OIL DEMAND GROWTH FORECAST TO 2.11 MILLION BPD (PREV. FORECAST 2.25 MILLION BPD) – MONTHLY OIL REPORT
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