Oil Prices Surge Amid Middle East Tensions as Houthi Attacks Escalate Conflict 
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China Holds Benchmark Loan Prime Rate Steady for Tenth Consecutive Month 
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Fundamentals to watch out for this week
Compared to last week, this week is relatively quiet with few data that could rapidly increase volatility in the market.
What to watch for over the coming days:
- UK economic data:
Time has come to pay some extra attention as the first batch of key economic data from the post-referendum UK become available this week. There are inflation data on Tuesday, Employment data on Wednesday and retail sales data on Thursday. All these data are for the month of July.
- US economic data and Fed speakers:
Not many economic dockets but all with high volatility risks associated On Monday, there is house price index from the National Housing Board, consumer price inflation data on Tuesday, and FOMC minutes on Wednesday. Several Fed speakers are scheduled this week; Fed’s Lockhart on Tuesday, Bullard on Wednesday, and Williams on Thursday.
In addition to the above, unscheduled Brexit commentaries would keep weighing on the market.
