Kremlin: A phone call with Trump is not planned

The Kremlin said in a statement on Wednesday, “a phone call with US President Donald Trump is not planned.”

Additional quotes

But one can be organized quickly.

The subject of weapon supplies to Ukraine is high on the agenda.

The US providing weapons to Ukraine is just business.

Market reaction

The US Dollar Index (DXY) shrugs off these headlines, keeping its minor recovery intact near 98.60 at the time of writing.

Jul 16, 2025

Oil: OPEC output rises – ING

The oil market continued to edge lower yesterday, with a stronger US dollar providing some headwinds. In addition, no immediate action from the US against Russia following President Trump’s 'major statement' means that the focus returns to the expected oil surplus later in the year.

US: Inflation quickens in June – UOB Group

US headline CPI rose 0.3% m/m (the most since Jan) translating to 2.7% y/y increase in June, up from 2.4% in May, helped by a rebound in energy prices and higher food costs.