IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Oil prices slipped slightly on Tuesday as markets weighed expectations of an OPEC+ production increase and mounting concerns over a global economic slowdown driven by potential U.S. tariff hikes.
Brent crude futures for September delivery dropped 16 cents, or 0.24%, to $66.58 a barrel, while U.S. West Texas Intermediate (WTI) fell 20 cents, or 0.31%, to $64.91.
Analysts point to a likely continuation of accelerated output hikes by OPEC+, the alliance of the Organization of the Petroleum Exporting Countries and allies including Russia. According to four OPEC+ sources, the group is set to boost output by 411,000 barrels per day (bpd) in August, following increases in May, June, and July. If confirmed, this will bring the total 2025 increase to 1.78 million bpd—roughly 1.5% of global demand. The final decision will be made during the OPEC+ meeting on July 6.
At the same time, market sentiment remains cautious due to looming U.S. tariff risks. Treasury Secretary Scott Bessent warned that countries could face steep tariff hikes—ranging from 11% to 50%—as a July 9 deadline nears, potentially reversing the temporary 10% rate. Investors fear that rising tariffs could dent global trade and energy demand.
Morgan Stanley projects Brent crude will drop to around $60 per barrel by early 2026 due to expected oversupply and easing geopolitical tensions. The bank forecasts a surplus of 1.3 million bpd in 2026. Brent prices had spiked above $80 after U.S. strikes on Iran’s nuclear sites in mid-June but later plunged to $67 following a ceasefire announcement between Israel and Iran.
Overall, oil markets remain volatile, shaped by production policy shifts and geopolitical uncertainty.
