Pre-Trading Thoughts

According to the Minutes from the two-day session held on June 11-12, Federal Reserve officials at their June meeting indicated that inflation is moving in the right direction but not quickly enough for them to lower interest rates. The FOMC “dot plot” showed one quarter percentage point cut by the end of 2024. The government cleared USD1.3 bn worth of arrears to foreign oil and gas companies operating in the country at the end of June — accounting for around 20% of its outstanding dues...