EUR/USD
1.13662
-0.007%
Gold
4044.06
-0.797%
Oil
81.280
0.136%
USD/JPY
163.688
-0.028%
GBP/USD
1.32893
0.012%
GBP/JPY
217.535
0.005%
Real-time News
July 28 – According to Al Jazeera, the Iraqi Islamic Resistance Group denied launching drone attacks targeting oil facilities in Saudi Arabia, after Saudi Arabia accused an “Iranian-backed militia” of carrying out the attacks on Monday. In a statement, the group said, “This accusation only reinforces our belief that hostility towards Iraq and its people is inherent to the Saudi regime. These fabricated claims are nothing more than an attempt to find excuses for its inability to respond to attacks on the heart of its infrastructure in Yemen.” The group warned that any foolish actions by Saudi Arabia would be met with a severe response and called for the lifting of the “unjust blockade imposed on the Yemeni people.”On July 28th, Brendan Murphy, Head of North American Fixed Income at Insight Investment, stated in a report that investors might consider increasing their exposure to the front end of the US Treasury yield curve. Murphy explained that the asset management firm expects the Federal Reserve to maintain interest rates for an extended period, and the next eventual rate adjustment is likely to be a rate cut. He said, "Therefore, now may be a good time to consider fixed income allocations, including increasing exposure to the front end of the yield curve." However, the prolonged conflict in Iran will increase market uncertainty, and there is also the possibility of dissenting votes at Wednesdays Fed meeting. Murphy noted that the Fed has consistently maintained that "ignoring" the impact of energy price shocks is the best strategy, unless a "second-round effect" emerges and becomes deeply entrenched, or long-term inflation expectations become de-anchored.The SC crude oil main contract narrowed its decline to 3.81%, last quoted at 543.5 yuan/barrel, rebounding from the intraday low of 527.5 yuan/barrel; the trading volume exceeded 70 billion yuan, with nearly 1,200 lots of open interest decreasing during the day, and open interest slightly declining.Nasdaq futures fell 1.1% to a daily low, while S&P 500 futures dropped nearly 0.4%.On July 28th, Anthony Willis, senior economist at Tianli Investment, stated in a report that the pressure on Federal Reserve policymakers to tighten policy has increased as US inflation remains significantly above target, while the economy and labor market remain resilient. Willis stated, "However, policymakers may be willing to temporarily ignore the recent surge in oil prices until the impact of inflation becomes clearer." Nevertheless, the broader trend is evident: under Warshs leadership, the Fed is adopting a more hawkish stance. The market currently prices a 38% probability of a Fed rate hike on Wednesday and has fully priced in the possibility of a September rate hike.
