JUN 05. Do they really need OPEC?

4 min readJun 6

It seems like Saudi Arabia has decided to cut down their oil production by 1 million barrel over the weekend. Big question came out this point, not OPEC? Only Saudi Arabia?

Poor macro numbers of USA and EU’s are all indicating that higher interest rate and tightening the money could be a toxic decision but still investors are expecting another rate hike next month by FED.

It seems like Chinese have made a right decision loosening up more money to the market, instead of tightening.

Their problem is that will all those efforts, nothing really improved, where are all those money have gone?

US stock market ended with a kind of weakness today.

DJ Index was downed by 0.6%, S&P 500 Index was downed by 0.2% and NASDAQ Index was downed by 0.1%.

Poor macro numbers are highly showing that FED might not raise the rate this month but somehow, still shows 70% of possibilities of raising the rate.

Apple was up 1.5%, Amazon was up 0.9%, MS was up 0.2% and Tesla was up 3.1%.

Why are FED need to raise the rate with all these poor numbers? Unemployment rates, PMIs and spendings are all showing, weakening side in USA Global status are going even worse…but why are they doing that?

US Dollar Index was downed by 0.1% today ending at 104.01 today.

With all those poor numbers, still US dollar index stays above 104 points?

Another strange point but it makes a kind of sense that some countries don’t want see their debt value go down too fast. Japan and China are might be in the same page in this US debt matter for now.

Euro was up 0.1% and JPY was up 0.3% against US dollar and Gold price was up a bit.


Trying every day, engraving what we’ve been through