Macro Roundup (Jul 14)
CST
Source:SMM
The US dollar climbed to a 5-day high against a basket of currencies on Tuesday after data showed US inflation data for June coming in hotter than expected, raising the prospect that inflationary concerns are set to linger.
SHANGHAI, Jul 14 (SMM) This is a roundup of global macroeconomic news last night and what is expected today.
The US dollar climbed to a 5-day high against a basket of currencies on Tuesday after data showed US inflation data for June coming in hotter than expected, raising the prospect that inflationary concerns are set to linger.
Oil rises on expectations of US crude stocks falling Toggle share menu
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Oil rises on expectations of US crude stocks falling Oil rose on Tuesday, recovering from the previous day s drop, as expectations of further declines in U.S. crude inventories outweighed fears that spreading COVID-19 variants could derail a global economic recovery.
FILE PHOTO: The suspension of steam generation forces this East Primrose steam plant to flare natural gas at Canadian Natural Resources Limited s (CNRL) Primrose Lake oil sands project near Cold Lake, Alberta August 8, 2013. REUTERS/Dan Riedlhuber
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TOKYO: Oil rose on Tuesday, recovering from the previous day s drop, as expectations of further declines in U.S. crude inventories outweighed fears that spreading COVID-19 variants could derail a global economic recovery.
By Yuka Obayashi TOKYO (Reuters) - Oil rose on Tuesday, recovering from the previous day s drop, as expectations of further declines in U.S. crude inventories outweighed fears that spreading COVID-19 variants could derail a global economic recovery. Brent crude for September climbed 25 cents, or 0.3%, to $75.41 a barrel by 0036 GMT, after losing 0.5% on Monday. U.S. West Texas Intermediate crude for August was at $74.33 a barrel, up 23 cents, or 0.3%, having fallen 0.6% the previous day. Optimism about tight supply and declining U.S. crude stockpiles lent support, said Toshitaka Tazawa, an analyst at commodities broker Fujitomi Co, adding that bullish global equities also helped boost risk appetite among investors.
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