NEWS

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Australia's consumer confidence dropped 3.5% last week, as Sydney, Victoria and South Australia remained under a lockdown says ANZ Roy Morgan. Sentiment around current economic conditions dropped 6%.

Tesla reported better than expected Q2 earnings after the market close Monday. $TSLA covered what the analysts focus was on, from Bitcoin, battery, supply chain shortages to CEO Elon Musk's strategy. To be prepared we go into depth in the key areas to watch for.

U.S. oil rigs in service rose 7 this week with U.S. oil production at 11.40 million bpd and oil prices consolidating between $65 and $75. US Natural gas rigs remained flat. US natural gas prices at 3 year highs and 10 year highs in Europe all eyes are production numbers.

Pipeline Gas exports to Mexico have been rising on rising Mexican demand with insufficient domestic production capability. Costa Azul LNG import terminal conversion has seen even more US gas imported by Mexico.

Australia's Markit preliminary PMIs for July saw Manufacturing at 56.8 (prior 58.6) and Services crash to a 14-month low 44.2 (prior 56.8) as renewed lockdowns aimed to bring the COVID-19 situation under control disrupt the economy.

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