The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.

0654 GMT - The dollar eases in the absence of fresh catalysts to propel the currency higher. In a quiet week of U.S. economic data, investors are looking ahead to the Federal Reserve's policy decision on July 29 for any hints on whether the central bank could raise interest rates this year. The Fed is widely expected to leave rates unchanged Wednesday but the market is fully pricing in a rate rise by September as oil prices rally on the recent escalation in the U.S.-Iran conflict. The DXY dollar index falls 0.1% to 101.009, having reached a one-week high of 101.210 Tuesday.(renae.dyer@wsj.com)

0555 GMT - There is increasing focus on the outright level for government bond yields, such as the 30-year U.S. Treasury yield, Danske Bank's Kristoffer Kjaer Lomholt says in a note. The 30-year Treasury yield is trading above 5% "and this is becoming more persistent," the director in fixed income and FX research says. The escalation of the war in the Middle East, where the Houthis hit two Saudi oil tankers in the Red Sea, and the subsequent rise in the oil price with Brent approaching $100 per barrel, is adding pressure on inflation ahead of next week's Federal Reserve FOMC meeting, he says. The 30-year Treasury yield trades 0.2 basis points higher at 5.149%, near a two-month high, according to Tradeweb. (emese.bartha@wsj.com)

0547 GMT - The recent escalation in the Arabic Gulf region and rising energy prices are developments that are unlikely to please central bankers, Helaba analysts say ahead of the European Central Bank's monetary policy decision later in the day. "Nevertheless, there are no clear indications of an imminent interest rate hike," the analysts say, waiting for any signals whether a rate increase at the following meeting in September will be signaled. Money markets currently price in a 21bps ECB rate hike in September, according to LSEG. The wording of the ECB statement-indicating that the Council does not commit to a specific interest rate path in advance-is unlikely to change significantly, according to Helaba analysts who expect the ECB to keep decision-making on a meeting-by-meeting basis. (emese.bartha@wsj.com)

(END) Dow Jones Newswires

July 23, 2026 02:54 ET (06:54 GMT)

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