OIL: Alaska Project to Produce ~80kbd by Summer of 2026: Repsol
Jul-24 10:33
"REPSOL CEO IMAZ: ALASKA PROJECT LIKELY TO BE PRODUCING CLOSE TO 80,000 BARRELS OF OIL A DAY IN SUMM...
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LOOK AHEAD: Tuesday Data Calendar: Fed Full Court Press, Chair Powell Testimony
Jun-24 10:33
- US Data/Speaker Calendar (prior, estimate)
- 06/24 0830 Philadelphia Fed Non-Manufacturing Activity (-41.9, --)
- 06/24 0830 Current Account Balance (-$303.9B, -$445.5B)
- 06/24 0900 FHFA House Price Index MoM (-0.1%, 0.0%)
- 06/24 0900 S&P CoreLogic CS 20-City MoM SA (-0.12%, 0.0%), YoY (4.07%, 3.94%)
- 06/24 0915 Cleveland Fed Hammack on monetary policy (text, Q&A)
- 06/24 1000 Fed Ch Powell Semiannual Testimony to House
- 06/24 1000 Richmond Fed Manufact. Index (-9, -10)
- 06/24 1000 Conf. Board Consumer Confidence (98.0, 99.8)
- 06/24 1130 US Tsy $55B 6W Bill auction
- 06/24 1230 NY Fed Williams keynote remarks (text, Q&A)
- 06/24 1300 US Tsy $69B 2Y note auction (91282CNL1)
- 06/24 1345 MN Fed Kashkari live town hall event (no text, Q&A)
- 06/24 1400 Boston Fed Collins on nation's housing (text, no Q&A)
- 06/24 1600 Fed Gov Barr welcoming remarks (text, no Q&A)
- 06/24 2015 KC Fed Schmid economic outlook (text, Q&A)
- Source: Bloomberg Finance L.P. / MNI
OPTIONS: Expiries for Jun24 NY cut 1000ET (Source DTCC)
Jun-24 10:32
- EUR/USD: $1.1550(E612mln)
- USD/JPY: Y145.00($582mln)
- USD/CAD: C$1.3775($665mln)
BOE: Greene on inflation expectations and the labour market
Jun-24 10:28
- Greene asked about inflation expectations and a weakening labour market and reconciling those, points to academic papers noting that if inflation is under 4% people won't notice it and feed it through to expectations, but given the high inflation recently a platter at 3.5% (as she described it in here speech rather than a peak) might have more impact.
- Says that she is looking at the wage data "really closely to gauge" where we are and "look at financial conditions every single round."
- "I mentioned that I'm putting a bit more weight on our own indicator based metric for employment growth than on what the ONS is kicking out. So we have these indicator-based models for employment and unemployment. The vacancies feed is not coming from the Labour Force Survey. So that tends to be a bit more reliable. And actually most of the weakening in the labour market has been coming from that side of things. So I think that is a signal that you can look at. We also look at a bunch of other data series. You know, we're looking at so called unconventional ones that we all discovered during the pandemic, when we needed more real time data, like things like that. We're looking at RTI, the REC. So we're not just looking at the Labour Force Survey. We have a bunch of different series that we can pull on to get a fuller picture of what's going on in the labour market."
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