US inflation likely edged up slightly in May, offering limited insight into tariff impacts. Jerome Powell will testify on Capitol Hill, reiterating the Fed’s cautious approach amid uncertainty about trade policy’s economic effects. While rate cuts remain possible, officials seek more clarity. The report will also provide insights into household spending, personal income, and consumer confidence.
Oil Price Today (July 3): Crude oil heads for 4th weekly loss on Hormuz traffic, US-Iran talks. Where is liquid gold headed?
Brent crude hovered near the $71-a-barrel mark after briefly dipping below that level in the previous session, while US benchmark West Texas Intermediate (WTI) traded
July 3, 2026