Quick Overvview

• A Bank of Japan official suggested the next interest-rate hike might come sooner than some had expected.
  
  
  

• The Federal Reserve's Beige Book said that all twelve districts showed continued economic growth in the past twelve months, but seven of the districts pointed out the rate of growth had slowed.
  

• Australia consumer prices were up 1.6% in the second quarter and up 4.0% YoY
  

• German business confidence (IFO) dropped from 106.8 to 105.6 in July, more than expected.
  

• The dollar extended its losses on Wednesday, hitting session lows across-the-board after a Federal Reserve survey reinforced a view the U.S. economy is slowing and that interest rates may be set to peak.
  
  
  

• The U.S. Department of Energy said that:
  Supplies of crude oil were unchanged last week at 335.5 million barrels.
  Supplies of unleaded gasoline were down 3.2 million barrels
  Supplies of heating oil were up 1.2 million barrels.
  

• Over the past four weeks, gasoline demand was up 1.8% YoY and YoY distillate demand was up 6.2%.