CNBC reports on the matter
report
This is a bit of an outsized reaction in my view because let’s face the facts here. OPEC+ isn’t going to be listening to Biden when it comes to making these decisions.

Bostic and George are on the agenda for today
Here is the schedule:
1430 GMT – Atlanta Fed president, Raphael Bostic, gives lecture
Bostic will be presenting a on „The Fed’s Role in Making This an Economy That Works for Everyone“, discussing how monetary policy can benefit marginalised communities, and the moral imperative of creating a more inclusive

The US July consumer price inflation report is due later at 1230 GMT
The risk mood continues to keep more tentative, with European indices mildly higher while US futures are still pointing to a slight rotation away from tech as Dow futures are flat while Nasdaq futures are marked down 0.4%.

CBA chief, Matt Comyn, remarked earlier
From the banks‘ investor call today:
„While Australia faces near-term challenges due to the lockdowns we expect growth will simply be pushed back by six months, with the economy rebounding in late 2021 and growing strongly in 2022.“
Adding that he expects the country to avoid a recession, as there are „a

Forex news from the European trading session – 10 August 2021
Headlines:
Markets:
– AUD leads, JPY lags on the day
– European equities slightly higher; S&P 500 futures flat

Mester and Evans are on the agenda today
Here is the schedule:
1400 GMT – Cleveland Fed president, Loretta Mester, speaks
Mester will be delivering opening remarks (estimated for ~5 minutes) at an hosted by her central bank on „Inflation Risk in the Short and Medium Term: US vs. Europe“. There might be some remarks on inflation

Latest data released by NFIB – 10 August 2021

It will boil down to either Powell or Brainard for top dog at the Fed
The latest story by the WSJ says that while Biden’s economic team is generally supportive of Powell sticking around for a second term as Fed chair, some Democrats are pushing for a central banker more in sync with the party’s priorities.

Latest data released by ZEW – 10 August 2021
That is alluding to increasing risks for the German, amid concerns of the spread of the delta variant ahead of autumn and also a potential slowdown in China.

10-year Treasury yields fall back to 1.28% so far today
The bond market is at a crossroads now after the double-bottom rebound at 1.13% looks to be stalling at the critical 1.30% level as well as the 200-day moving average (purple line), after having seen a strong push on Friday following the NFP report.