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Trump Accuses Iran of Violating Ceasefire After Drone Attack on Ships
President Trump condemned Iran for launching at least four one-way attack drones at ships in the Strait of Hormuz, calling it a 'foolish violation' of the US-Iran ceasefire agreement.
Iran Attacks Ships in Strait of Hormuz, Trump Says
President Trump stated on Truth Social that Iran launched at least four one-way attack drones at ships transiting the Strait of Hormuz, hitting a cargo vessel. He called the action a violation of the ceasefire agreement.
Kashkari: Inflation Concerns Persist, Labor Market Shows Signs of Life
Minneapolis Fed President Neel Kashkari expressed concern over inflation, especially in services, while noting some positive signs in the labor market. He also commented on the FOMC statement reset and the move to no forward guidance.
TD Securities Warns Brent Oversold Amid Hormuz Strait Disruptions
TD Securities analyst Bart Melek notes that disruptions in the Strait of Hormuz have pushed oil inventories to historic lows, leaving Brent crude oversold and vulnerable to a sharp short-covering rally.
OCBC: Brent's Hormuz Risk Premium Remains Fragile After Sharp Drop
OCBC FX strategists warn that Brent's recent sharp decline on optimism over a US-Iran deal and Strait of Hormuz reopening may be overdone, as the security risk premium remains fragile and possibly underpriced.
US Indices Open Lower: Dow, Nasdaq, S&P 500 Decline
At market open, the Dow Jones fell 216 points (-0.42%), the Nasdaq dropped 276 points (-1.09%), and the S&P 500 lost 49 points (-0.67%).
TD Securities Warns of More Gold Pain Before Recovery
Gold slid below $4,000/oz amid higher US rates and a stronger dollar. TD Securities' Bart Melek sees further downside before a rebound.
Oil Price Declines May Be Temporary Amid Supply Risks: Commerzbank
Commerzbank commodities analysts, led by Barbara Lambrecht, warn that recent oil price drops could be short-lived as tanker traffic through the Strait of Hormuz recovers only gradually and U.S. crude inventories remain well below seasonal norms.
Gold Stabilising but Not Confirmed Reversal – OCBC
OCBC FX strategists note gold is tentatively stabilising after a sharp selloff, with prices back above $4,000 and dip-buying emerging amid lower Dollar and real yield pressures.
US-Iran Deal and Tech Sell-Off Drive Oil Lower
A weekly focus highlights the reversal of stagflationary winds as a US-Iran deal pushes Brent oil down to $73 from a high of $120, alongside a tech sell-off in equity markets.
Germany Finalizes 2027 Budget, Closes €21B Gap
Germany has finalized its 2027 federal budget, fully closing an initial gap of €21 billion, but will draw on a substantial portion of €9.7 billion in reserves.
Gold Selloff on Fed Hiking Expectations May Be Overdone
Gold is being sold off as markets price in a likely Fed hiking cycle, but the economic conditions for sustained tightening remain uncertain.
EU Launches Antitrust Probe Into Sanofi Over Flu Vaccine Claims
The European Union has initiated a formal antitrust investigation into Sanofi for allegedly making misleading claims about its flu vaccine relative to CSL Seqirus' Fluad.
Hormuz Risks Keep Oil Subdued at $73.8 – Rabobank
Rabobank's senior macro strategist warns of rising security threats in the Strait of Hormuz after a cargo ship was hit near Oman, though Brent crude remains around $73.8 at the lower end of its weekly range.
IRGC Rejects Unauthorized Strait of Hormuz Shipping Corridor, Warns of Enforcement
The IRGC has rejected a newly announced shipping corridor through the Strait of Hormuz, stating it was created without Tehran's coordination and warning of potential enforcement measures against vessels using unauthorized routes.
US Notifies Congress of $700M F110 Jet Engine Sale to Turkey
The Trump administration has informed Congress of a proposed sale of F110 jet engines worth over $700 million to Turkey for its KAAN fighter program.
China's May Services Trade Deficit Widens to $18 Billion
China’s services trade deficit widened to $18 billion in May, bringing the January–May total to $93.1 billion, according to the regulator.
WTI Oil Drops Below $70, Lowest Since February 27
WTI crude oil fell to $69.65 on Friday, its lowest level since late February, amid expectations of higher Middle East supply and following a joint US-Israel attack.
Eurozone One-Year Inflation Expectations Cool to 3.5% - ECB Survey
The European Central Bank's latest survey shows Eurozone consumers expect inflation to average 3.5% over the next year, down from prior figures, while longer-term projections remained steady.
US-Iran Understanding Seen Freezing Conflict, Not Resolving Nuclear Issue: Analyst
According to analyst Greg Priddy, the US-Iran understanding is more likely to freeze the conflict than resolve it, leaving the nuclear program as the key unresolved issue.
Silver (XAG/USD) Edges Up, Nears $58 as Dollar Eases
Silver has rebounded from seven-month lows below $56.00 to trade near $57.80 as the US Dollar takes a breather.
Volkswagen May Cut Up to 100,000 Jobs Worldwide
Volkswagen is reportedly planning to cut up to 100,000 jobs globally as part of a major restructuring, according to Manager Magazin.
Markets Enter Demanding Phase as Uncertainty Tolerance Fades
Financial markets are shifting into a more demanding phase, with investors struggling to move from fear to confidence. Latest signals suggest uncertainty is no longer tolerated.
LNG Market Enters Timing-Sensitive Phase as Storage, Competition Intensify
The LNG market has entered a timing-sensitive phase as Europe continues rebuilding its natural gas storage while global competition for cargoes remains strong.