Oil Slips After Five-Day Rally as OPEC Trims Demand Forecasts

(Bloomberg) -- Oil slipped after a five-day advance, with a likely escalation in the Middle East conflict offset by signs of weakening global demand growth.Most Read from BloombergHow a Tiny Midwestern Town Became a Mecca for Modern ArchitectureHow Chicago’s Gigantic Merchandise Mart Is Still Thriving as Office SpaceLos Angeles Sees Remote Work Helping ‘No Car’ 2028 Olympic GamesGottheimer Calls for Rail Riders to Be Reimbursed for DelaysIn DNC, Chicago’s Embattled Transit System Faces a High-Pr

Gold IG Client Sentiment: Our data shows traders are now net-short Gold for the first time since Jul 19, 2024 when Gold traded near 2,400.62.

Alibaba Stock Price Faces Headwinds Ahead of Earnings

E-commerce giant Alibaba will report on 15 August, and weaker performance is expected due to growing competition and a slowing Chinese economy.

Retail Client Sentiment: Gold, Oil, AUD in Focus as Risk Appetite Stabilises

OPEC cuts oil demand growth forecast, highlighting dilemma over Oct hike

LONDON (Reuters) -OPEC on Monday cut its forecast for global oil demand growth in 2024 citing softer expectations for China, a reduction that highlights the dilemma faced by the wider OPEC+ group in raising production from October. This is the first cut in OPEC's 2024 forecast since it was made in July 2023, and comes after mounting signs that demand in China has lagged expectations due to slumping diesel consumption and as a crisis in the property sector hampers the economy. In a monthly report on Monday, the Organization of the Petroleum Exporting Countries said world oil demand will rise by 2.11 million barrels per day in 2024, down from growth of 2.25 million bpd expected last month.

Nasdaq 100, Dow and Dax Continue to Rebound

Morning Bid: Markets pray inflation stays well behaved

Off-radar for much of the past week's market turbulence, U.S. inflation updates this week will reveal just how much latitude the Federal Reserve has to meet pumped-up expectations around its first interest rate cut next month. With the S&P500 ending last week basically unchanged despite days of outsize swings, the VIX volatility gauge has returned close to long-term means around 20.

British Pound (GBP) Latest – BoE Policymaker Warns on Inflation, GBP/USD Analysis

BOE to Get Another Reason for Caution as Inflation to Pick Up

(Bloomberg) -- UK inflation is expected to pick up for the first time in 2024 in new data that’s likely to keep Bank of England policy makers wary about pushing ahead with further interest rate reductions next month.Most Read from BloombergHow a Tiny Midwestern Town Became a Mecca for Modern ArchitectureHow Chicago’s Gigantic Merchandise Mart Is Still Thriving as Office SpaceLos Angeles Sees Remote Work Helping ‘No Car’ 2028 Olympic GamesIn DNC, Chicago’s Embattled Transit System Faces a High-Pr

Oil Steady After Weekly Gain as Traders Watch for Iran Reprisal

(Bloomberg) -- Oil was steady after its first weekly gain since early July, with the market still waiting for Iran’s response to last month’s assassination of a Hamas leader in Tehran.Most Read from BloombergHow a Tiny Midwestern Town Became a Mecca for Modern ArchitectureHow Chicago’s Gigantic Merchandise Mart Is Still Thriving as Office SpaceLos Angeles Sees Remote Work Helping ‘No Car’ 2028 Olympic GamesIn DNC, Chicago’s Embattled Transit System Faces a High-Profile TestNYC Subway Riders See