Next Week News

Russian central bank is likely to cut its key interest rate further this year and the rate is set to drop to 6 percent by the end of next year, as inflation could fall below target, Capital Economics economist William Jackson said.

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The victory of Emmanuel Macron over Eurosceptic Marine Le Pen in the French presidential election has removed the risk of a near-term severe political shock to France and wider Europe, Fitch Ratings said Monday.

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Fitch Ratings affirmed Australia's top notch credit rating on Friday, citing high income levels, strong governance and effective policy-making institutions.

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Australia's gross domestic product was up a seasonally adjusted 0.3 percent on quarter in the first three months of 207, the Australian Bureau of Statistics said on Wednesday.

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Dubai's non-oil private sector expanded at the slowest pace in seven months in May, data published by IHS Markit showed Sunday.

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State-owned oil company Ecopetrol reported "intimidation" against workers and blockades that have been occurring since Monday at Rubiales field, the largest in Colombia, by several people who identified themselves as members of the Alto Unuma indigenous community. Demonstrators seized the facilities of the Water Disposal Plant 6 and ordered the operators to halt operations, causing the shutdown of 81 producing wells, or 9,500 barrels per day. They also prohibited the entry of personnel on duty to carry out the relay, affecting the work of more than 400 people, Ecopetrol said in a statement. Protesters want the Interior Ministry to recognize the Buenos Aires' community, in the village of Rubiales, as an indigenous group. Their claim is under analysis by the Ministry.

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Activity in the U.S. manufacturing sector grew at an accelerated rate in the month of June, the Institute for Supply Management revealed in a report on Monday.

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South American shares ended almost unchanged, with a 4% decrease in oil prices weighing on all the local stock markets. In Argentina, the local currency weakness compared to the US dollar helped to keep the stock market in the black, while in Colombia unit creation by the largest Colcap ETF prevented a negative closing.

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The U.S. economy added 222,000 jobs in June and the unemployment rate was 4.4%. The data means the U.S. economy is consistently adding nearly 200,000 jobs a month and unemployment remains low, allowing the Federal Reserve to hike interest rates in the second half of 2018.

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Leaders of the Group of 20 countries other than the United States reaffirmed their commitment to the Paris climate accord on Saturday, saying that it is irreversible.

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