Five Things Everyone Will Be Talking About Today

It’s the Fed’s big day, Twitter tanks and Total results shine a bright spot on the oil rout. Here are some of the things that people in markets are talking about this morning.

Fed decision day

The Federal Reserve concludes a meeting on monetary policy today. Investors will be combing the post-meeting statement for signs that rates may go up at the next meeting in September.

Big oil beat

Total posted a better-than-expected profit in the second quarter after production and refining surged, which almost made up for the slump in crude prices. Oil resumed a decline today ahead of data forecast to show inventories expanded. Meanwhile, BP and Chevron are among firms seeking large discounts from contractors and sending some projects back to the drawing board to save costs.

Russia halts ruble rout

Russia’s central bank halted purchases of foreign currency to replenish the country’s international reserves, sending the ruble toward its biggest gain in almost three weeks. The ruble’s three-month implied volatility, a measure of exchange-rate swings, is at 19 percent, the highest globally.

Bloomberg

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.