OPEC releases its latest monthly report on the oil market
here
Unless oil prices show further vulnerabilities to being hit by OPEC+ raising output and/or from delta variant concerns, the bloc may feel confident to stick with the current view.

A look at what is on the board for today
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There are big ones sandwiching the EUR/USD spot price at the moment, adding to the technical sandwich between 1.1700 and 1.1750.

It has been a snoozefest of a session so far
Major currencies are keeping in narrow ranges and are still within 10 pips of one another on the day, as the mood couldn’t be more dull in European morning trade.

Latest data from the Mortgage Bankers Association for the week ending 6 August 2021

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