FED minutes are eccentric but contain hidden concerns, and the focus shifts to non-agricultural reporting

Time:2018-07-06

  On Thursday (July 5), the minutes of the Fed’s June meeting were released, which showed that the Fed’s members worried about the deterioration of the global trade situation and the flattening of the US bond yield curve, but the Fed’s members still agreed that the current US economic performance In a strong context, a gradual rate hike is still necessary. Overall, the minutes continued the hawkish tone since the June meeting, but hinted at the potential two major risks, the overall less new, the dollar and gold were flat after the announcement.

  In terms of crude oil, oil prices fell on Thursday, and the US EIA crude oil inventories unexpectedly increased last week, triggering a profit for crude oil longs. In addition, Saudi Arabia lowered its August export price of Arabian light crude oil on Thursday, a move that appears to be related to the pressure imposed by Trump. It is also worth noting that a commander of the Iranian National Guard said on Wednesday that Iran may block oil transportation through the Strait of Hormuz.

  Looking forward to Friday (July 6), the US non-farm payrolls report was released in June. Investors should focus on the changes in the non-agricultural employment in the US in June, the average annual hourly wage in June, and the US unemployment rate in June. These three big data. In addition, Iran will re-discuss the Iranian nuclear deal with the five countries except the United States, and the geopolitical incidents in which the United States will announce the import tariffs on China will also be closely watched by investors.