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Five Things Everyone Will Be Talking About Today

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It’s the Fed’s big day, Twitter tanks and Total results shine a bright spot on the oil rout. Here are some of the things that people in markets are talking about this morning.

Fed decision day

The Federal Reserve concludes a meeting on monetary policy today. Investors will be combing the post-meeting statement for signs that rates may go up at the next meeting in September.

Big oil beat

Total posted a better-than-expected profit in the second quarter after production and refining surged, which almost made up for the slump in crude prices. Oil resumed a decline today ahead of data forecast to show inventories expanded. Meanwhile, BP and Chevron are among firms seeking large discounts from contractors and sending some projects back to the drawing board to save costs.

Russia halts ruble rout

Russia’s central bank halted purchases of foreign currency to replenish the country’s international reserves, sending the ruble toward its biggest gain in almost three weeks. The ruble’s three-month implied volatility, a measure of exchange-rate swings, is at 19 percent, the highest globally.

Bloomberg

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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