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Oil Falls as Rabobank Flags Hormuz Transit Risks, Hidden Flows
Rabobank strategist Michael Every notes oil prices declined after the US energy secretary reported increased Hormuz transits, possibly involving US Navy crude movements not captured in official data.
Gold Enters Credibility Test as Inflation Repricing Reaches Inflection Point
Gold faces a key macro event as inflation expectations and interest-rate adjustments reach an inflection point, testing the metal's credibility.
China’s May inflation data shows steady CPI, rising PPI
China’s May CPI held at 1.2% year-on-year while PPI climbed to 3.9%, confirming a continued reflation trend. Food and property prices are keeping headline inflation subdued for now.
China May PPI Rises 3.9% YoY, Highest Since July 2022
China's producer price index (PPI) increased 3.9% year-on-year in May, above the consensus estimate of 3.8% and marking its third consecutive monthly rise to the highest level since July 2022.
Asian Markets: Equities, AI Credit, Iran Tensions Ahead of Oracle, CPI Data
Asian equity supply and AI credit deals are in focus ahead of Oracle's earnings. Cautious sentiment persists amid fresh Iran hostilities, while traders eye US May CPI and JP/CN inflation figures.
Central Europe Faces Low-Growth, High-Inflation Shift
The region appears to be entering a phase of sluggish growth and rising inflation, with downward revisions to growth forecasts for Czechia, Croatia, and Poland.
Iran's Foreign Minister Warns Gulf States Over US, Israeli Strikes
Iran's Foreign Minister Abbas Araghchi warned that Gulf states have a legal and moral responsibility to prevent American and Israeli strikes, as reported by The Guardian.
WTI Crude Flat Below $87.50 as Bears Eye 100-Day SMA Break
West Texas Intermediate crude oil is trading flat near the mid-$87.00s, failing to capitalize on a modest Asian session uptick as bears anticipate a breakdown below the 100-day simple moving average.
US CPI Expected to Show Inflation at Three-Year High in May
The May CPI report is expected to reveal consumer inflation at a three-year high, driven by persistent oil prices, reinforcing the Federal Reserve's hawkish stance.
Gold Price Forecast: XAU/USD Falls Below $4,200, Eyes $4,100 Ahead of US CPI
Gold extends its decline to a second day, dropping to three-month lows below $4,200 as traders focus on the upcoming US CPI data and escalating US-Iran tensions.
Iran Launches Ballistic Missiles and Drones at US Bases in Bahrain, Kuwait, Jordan
A wave of attacks involving at least four ballistic missiles and several drones targeted U.S. bases in Bahrain, Kuwait, and Jordan, according to Axios reporter Barak Ravid.
China Buys 10 Tonnes of Gold in May, Largest Since Jan 2025
China added 10 tonnes of gold to its reserves in May, the biggest monthly increase since January 2025, extending its buying streak to 19 consecutive months. Total official gold reserves hit a record 2,331 tonnes.
WTI Steadies Near $87.50 After Previous Day’s Drop
West Texas Intermediate crude oil stabilizes around $87.40 per barrel during Asian hours after falling more than 2.5% the previous day, as renewed supply concerns offset recent losses.
Xi and Kim Reach Consensus, Pledge Stronger Ties
Chinese President Xi Jinping and North Korean leader Kim Jong Un reached an important consensus during talks, with Xi calling his visit to North Korea a success. Both sides pledged to strengthen strategic ties and work to safeguard regional and global peace, per KCNA.
Supertanker Orders Surge to Record High, Exceeding 2008 Peak
The number of supertankers on order globally has hit a record 262, a more than 1,000% increase from two years ago, surpassing the 2008 record that later led to a market crash in shipping rates.
US Launches Strikes on Iran in Retaliation for Downed Helicopter
The United States has launched a second round of military strikes on Iran, targeting air defense and radar systems, according to US officials cited by Axios.
Iran Warns US to Leave Region, Threatens Response to Attacks
Iranian Foreign Minister Abbas Araghchi warned the United States to leave the region or face consequences, stating that Iran's armed forces will not ignore any attack or threat.
Gold Slumps Below $4,250 on US-Iran Tensions, Rate Hike Expectations
Gold (XAU/USD) fell to around $4,235 in early Asia on Wednesday, the lowest since March 23, pressured by renewed US-Iran tensions and rising bets on a US interest rate hike ahead of CPI data.
AI Boom Drives Magnificent 7 Revenue Per Employee Surge, Small Caps Slump
Revenue per employee for the Magnificent 7 has soared 20% since early 2023 to ~$270,000, while Russell 2000 companies have seen a 14% decline to $122,000, highlighting a stark productivity gap.
US consumer financial sentiment hits highest since January 2023
In May, 43.6% of Americans said they are financially worse off than a year ago, the highest since January 2023. The share expecting to be worse off in the next year also rose sharply.
Rising Inflation Could Drive Real Yields Lower, Boosting Gold
Despite rising nominal rates, accelerating price inflation may reduce real interest rates, creating a bullish environment for gold and silver.
AI Stock Valuations Questioned as SpaceX, OpenAI IPOs Loom
Investors are growing skeptical of AI stock valuations after recent gains, with upcoming IPOs from SpaceX and OpenAI expected to add significant equity supply. Renewed volatility in semiconductor stocks adds to the uncertainty.
Wall Street Rotates From Tech Into Broader Sectors Amid Growth Hopes
Investors shifted out of major technology stocks into a wider range of sectors tied to improving economic growth. Chipmakers and AI shares fell, but gains across most S&P 500 companies limited overall market losses.
China rare earth export controls send prices soaring
China's export licensing requirements imposed in April 2025 have driven sharp price increases in yttrium, terbium, and dysprosium, with yttrium rising 14,000%.