Asia Market Movers | ANZ point to weaker demand in the US economy for why the oil price dropped

Monday, 04 Aug, 2025 News ANZ point to weaker demand in the US economy for why the oil price dropped ANZ with their take on the slide in the price of oil: "A sharply cooling U.S jobs market and the fastest contraction in factory activity in nine months raised concerns of weaker demand" for crude oil News Trump says he's sent US nuclear submarines to the region of Russia Trump spoke with reporters on his way back to Washington after a weekend golfing. He covered various topis. Some remarks: Nuclear submarines sent to the region of Russia Russia is good at avoiding san Learn more Central Banks PBOC is expected to set the USD/CNY reference rate at 7.1774 – Reuters estimate People's Bank of China USD/CNY reference rate is due around 0115 GMT. The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as Central Banks How Firms Set Prices and What It Means for Inflation A new research paper from the Reserve Bank of New Zealand (RBNZ) explores how businesses set prices and how this behaviour affects inflation—both now and in the future. Key Findings: Price-setting is News Goldman Sachs leaves its 2026 Brent crude oil forecast unchanged at US$56 after OPEC Goldman Sachs is holding its Brent crude oil forecast for 2026 steady at $56 per barrel, despite the recent production increase announced by OPEC+ . The bank expects the oil-producing alliance to paus News J.P. Morgan warns of economic risks from politicisation of U.S. labor data J.P. Morgan's North America Economic Research team has raised alarm over the dismissal of Bureau of Labor Statistics (BLS) Commissioner Erika McEntarfer, warning that it risks undermining the integrit News Carney and Trump to meet - Canada hopeful that for a deal that would lower tariffs A senior Canadian official said U.S. President Donald Trump and Canadian Prime Minister Mark Carney are expected to speak in the coming days following Washington's decision to impose a 35% tariff on C News Chief economic adviser at Allianz points to slowing US wage growth, widening inequality The Financial Times is gated, so its always interesting getting a glimpse behind the curtian. Mohamed El-Erian, chief economic adviser at Allianz tweeted on his concerns over wage disparities in the U Learn more Central Banks There is a double dose of Bank of Japan insight due this coming week, when will they hike? We all 'know' the Bank of Japan will raise short term interest rates again, the big question is when? This week we get further insight from the Bank. Bank of Japan June meeting minutes will be release

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