🌥️ Cotton prices have reached their highest levels in two years.

🚨 Upcoming Events

The United States will release the PCE Price Index for July at 15:30 MSK. This will be followed by a preliminary report on the GDP for the second quarter of 2026, also at 15:30 MSK. In addition, Durable Goods Orders for July will be announced at the same time.

🚨 The United States has reported a preliminary GDP growth of 1.5% for the second quarter of 2026, matching expectations but down from a previous estimate of 2.1%. This figure reflects ongoing economic trends and adjustments in forecasts. For more details, visit here.

🚨🇺🇸 Inflation Report: PCE Price Index for July shows a month-over-month increase of +0.2%, surpassing expectations of +0.1% and up from the previous -0.1%. Year-over-year, inflation stands at +3.7%, slightly above the anticipated +3.6% and unchanged from last month. The core PCE remains steady at +3.3% year-over-year, aligning with forecasts and previous figures.

🚨 The United States has reported an increase in Durable Goods Orders for July, showing a rise of 1.1% month-over-month. This figure surpassed expectations of 0.4% and is an improvement from the previous month's growth of 0.3%.

🚫🛢 Iran has announced that the agreement with Oman regarding the Hormuz Strait has not yet been finalized or signed.

🎉 The 25th St. Petersburg International Economic Forum (SPIEF) will take place from June 16 to 19, 2027.

📈🇺🇸 Meta shares rose by 4% after the company reached a settlement with U.S. authorities regarding the harmful effects of social media. As part of the agreement, Meta will pay $16.7 billion.

*designated as extremist and banned in Russia

🛢 Trump stated that Hormuz is operational and that a significant amount of oil passes through it.

🛢 Trump stated, "We have cleared the mines. The Hormuz Strait is operational. Yes, from time to time a drone or missile may fly over it, or something else, but it is a well-functioning strait. A lot of oil passes through it."

.

🇷🇺 The consensus forecast indicates that ALROSA's EBITDA for the first half of the year will decline by 61% year-on-year, reaching 14.5 billion. Free cash flow is expected to be negative. The report is scheduled for release on August 27.

🌟 Meta saw a 4% increase following the announcement of a settlement with U.S. authorities regarding the harm caused by social media. However, the company later clarified that it will pay $16.7 billion, which will impact its results for the upcoming quarter. *designated as extremist and banned in Russia

🚨🇨🇦🇺🇸 Former President Trump has labeled Canada as one of the worst countries for business. In response, Ontario Premier Doug Ford urged Trump to "kiss my big a**."

🌍 Concerns are rising regarding the IMOEX as statements emerge: "The war between the US and Iran will conclude fairly soon," and "The Strait of Hormuz is a well-functioning passage, through which a significant amount of oil flows." Additionally, speculation surrounds the potential outcomes of the CIA director's visit to Russia, suggesting that something significant may arise from it.

💥🇷🇺 The United States has extended for another year the possibility of importing Russian-origin diamonds, according to the OFAC license.

🚨 Ahead

🛢 US oil - EIA inventory report at 17:30 MSK

(Expected +1.6M / Previous +4.405M)
————————————
API inventories were = +1M

🚨🛢🇺🇸 The latest EIA report shows an increase in crude oil inventories. Crude stocks rose by 0.095 million barrels, compared to expectations of a 1.6 million barrel increase and a previous rise of 4.405 million barrels.

🎮 Rockstar Games has confirmed the leak of materials related to Grand Theft Auto VI.

🇪🇺 Rheinmetall has received its first contract for the construction of a military camp in Lithuania.

🛢🇺🇸 Oil production in the United States has risen to 13.8 million barrels per day, according to the Department of Energy.