Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Oil prices slipped slightly in Asian trading on Friday as investors awaited signals from the upcoming OPEC+ meeting, while new U.S. sanctions on Iran helped limit losses.
Brent crude futures for September fell 0.2% to $68.66 a barrel, and West Texas Intermediate (WTI) dropped 0.2% to $65.51. Despite modest weekly gains of 1% to 2%, both benchmarks remain down double digits from the previous week’s selloff.
A stronger U.S. dollar, driven by robust nonfarm payrolls data, weighed on oil. The report dampened expectations for imminent interest rate cuts, pressuring dollar-denominated commodities like crude. Market sentiment also remains fragile due to mounting concerns over U.S. fiscal stability following the passage of a major tax and spending bill and looming trade tariff deadlines.
Attention is centered on the OPEC+ meeting this weekend. Reports suggest the alliance plans to raise output by 411,000 barrels per day in August, continuing a trend of phased production hikes. These increases aim to unwind deep supply cuts made over the past two years, as oil prices remain below key thresholds. Led by Saudi Arabia, OPEC+ also seeks to enforce compliance and address internal overproduction.
The U.S. also tightened sanctions on Iran, targeting a network smuggling Iranian oil disguised as Iraqi crude. The sanctions hit entities linked to Iraqi-British national Salim Ahmed Said, as part of efforts to curb Tehran’s oil revenues and nuclear ambitions.
Tensions between the U.S. and Iran remain high, following U.S. strikes on key uranium sites and Iran’s suspension of cooperation with the U.N. nuclear watchdog. Nonetheless, both sides are expected to resume nuclear talks in Oslo next week.
Overall, oil markets remain volatile, influenced by geopolitical risks, production policy, and macroeconomic uncertainty.
