Riots in Hong-Kong, two tankers on fire at the gulf of Oman

I am apologizing to all of you, for not producing this week’s report.

• The week has been characterized by the two tankers that were on fire at the gulf of Oman, the US Secretary Mike Pompeo blaming Iran and Iran dening accusations. The insident happened at the same time that the Japanese Prime Minister Abe was visiting Iran. OPEC has issued its monthly report with a downward revision of global oil demand. Meanwhile, Russia does not seem to be fully on board with a continuation of the production cap OPEC+ deal.
• Turkey is determined to have the Russian S400 system delivered within the next month, despite the objections of the USA and Nato.
• Representatives from China, India and Russia met in Kygystan and are set to present a utinted front.
• Riots happened in Hong Kong as people were against the change of law that would make extradictions to China easier. A general strike happened in Brazil against the governace of Bolsonaro.
• Six runners are left for the UK Conservative Party leadership’s race. Boris Johnson leads the race. The goal is to have a new leader announced within the 22nd of July.

Next week, the focus turns to the FED, the BOJ, BOE and Norges Bank. All four are having their monetary meetings.

Combining geopolitics, macroeconomic releases and technical analysis is a time consuming task that I enjoy doing. This weekend there is no time for the task.

I am wishig you a creative Weekend and promish you to send  a worth-reading report next Saturday.