Market news
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Macklem: Significant US Trade Restrictions May Force Rate Cuts
Bank of Canada Governor Macklem stated that significant new US trade restrictions could necessitate cutting interest rates, and that uncertainty remains unusually elevated.
Bank of Canada Focused on Preventing Energy Price Inflation from Becoming Persistent
Bank of Canada Governor Tiff Macklem stated that monetary policy remains focused on ensuring higher energy prices do not lead to persistent inflation, and the bank will watch for broadening price pressures.
BoC: Economy Weak, Excess Supply to Persist; Energy Prices Not Seen as Inflation Risk
The Bank of Canada stated that economic activity remains weak and uncertainty over U.S. trade policy continues. The central bank also indicated it will not allow higher energy prices to become persistent inflation, and expects the economy to stay in excess supply even after a rebound.
Bank of Canada: Limited Evidence of Broad-Based Energy Price Pass-Through
The Bank of Canada stated it continues to look through the near-term impact of the Middle East conflict on headline inflation, noting limited evidence so far of higher energy prices feeding broadly into other consumer prices.
US CPI Rises to 4.2%, Highest in Three Years
US inflation, as measured by the Consumer Price Index, rose to 4.2% year-over-year, the highest level in three years, up from 3.8% the previous month.
Brent Oil Muted After US-Iran Strikes, Near Recent Lows: MUFG
Brent oil prices have shown a muted response to renewed US-Iran military exchanges, trading near recent lows after briefly dipping below $90 per barrel, according to MUFG analysts Hardman and Lockhart.
US Apache Helicopter Involved in Iranian Drone Incident; 20 Retaliatory Strikes Ordered
President Trump detailed an incident where an Iranian drone lodged between two US Apache helicopter pilots in the Strait of Hormuz, leading to the first rescue by an unmanned sea drone. The US responded with 20 retaliatory strikes.
US CPI Inflation Hits 4.2% in May, Highest in Three Years
Annual US CPI inflation rose to 4.2% in May, the highest in three years, from 3.8% in April, matching market expectations.
US May CPI Rises to 4.2%, Highest Since April 2023
US headline CPI inflation accelerated to 4.2% in May, the highest since April 2023, while core CPI hit 2.9%, the highest since September 2025. Inflation now stands at more than double the Federal Reserve's 2% target, fueling speculation of potential rate hikes.
Trump Threatens Military Action Against Iran, Dow Futures Plunge
President Trump said he is considering ordering the US military to target Iranian power plants and bridges, per Fox News, sending Dow futures down over 400 points.
WTI Oil Bounces Back to Near $88 as Trump Warns Further Military Actions Against Iran
WTI crude oil recovered to around $88.00 during European trading on Wednesday after a previous pullback, as President Trump threatened additional military strikes on Iran.
Belgium Rejects US Demand for Travel Ban on DRC Over Ebola Fears
Belgium has refused a US request to bar travelers from the Democratic Republic of Congo, escalating a transatlantic dispute over Ebola containment measures during the World Cup.
WTI Oil Extends Losses to Five Days, Hovers Near Seven-Week Lows Below $87
WTI crude oil traded at $86.60 on Wednesday, extending its losing streak to five consecutive days and holding near seven-week lows below $87, despite ongoing US-Iran tensions.
CPI Under Chair Walsh, Strait of Hormuz Tensions, Oracle Earnings in Focus
Today's EU mid-market update highlights the first CPI release under new Chair Walsh, renewed kinetic activity in the Strait of Hormuz, Anthropic's launch of a safe AI model 'Mythos', and Oracle's upcoming earnings report.
Oil Price Steadies as Markets Eye CPI and SpaceX IPO
Oil prices remain stable despite US-Iran tensions, with Brent crude below $92 as traders await CPI data and news of a potential SpaceX IPO.
Gold Breaks Below 200-Day SMA, Eyes on CPI for Direction
Gold prices have decisively broken below the 200-day SMA, setting up a critical test ahead of the US CPI report. Analysts weigh a potential relief rally to $4,450 or a deeper decline toward $4,200.
Gold Breaches 200-Day SMA; US CPI Report Could Decide Next Move
Gold has broken below its 200-day moving average, a bearish technical signal. Traders now await the US CPI report, which could either trigger a rebound toward $4,450 or deepen the decline.
Iran Accuses US of Undermining Diplomacy with Ceasefire Violations
Iran's Foreign Ministry spokesperson stated during European trading hours that Tehran must reassess negotiation terms with Washington after overnight clashes.
US Apache Downing Near Strait of Hormuz Pushes Oil to Multi-Year Highs, Lifts Dollar
The downing of a US Apache helicopter near the Strait of Hormuz escalates Middle East tensions, driving crude oil prices to multi-year highs and boosting the US dollar as investors seek safe havens.
Kalshi Introduces Mandatory Workplace Verification for Traders on High-Risk Markets
Prediction market platform Kalshi now requires traders to verify their workplace when participating in markets deemed high risk for insider trading and manipulation. The company assigns risk ratings to new markets based on factors like corporate events, regulatory constraints, and national security.
BYD Halts $1 Billion Turkey Factory, Prioritizes Hungary
Chinese automaker BYD has quietly halted its planned $1 billion factory in Manisa, Turkey, nearly two years after the signing. A BYD executive confirmed there is no timeline for construction, with the company now focusing on its Hungary plant.
Analysts: Europe Underestimating Iran War Energy Shock
Analysts warn that European energy markets, which have remained calm since the outbreak of the war in Iran, may soon face a severe shock that governments are underestimating.
Copper Outlook Mixed as China Trade Data Send Conflicting Signals – ING
ING analysts note that China's copper trade data for May presents a mixed picture, with higher unwrought imports last month but lower year-to-date volumes amid stronger domestic refined production.
S&P 500 and Nasdaq Edge Lower as Tech Swings on AI Sentiment
Deutsche Bank's Jim Reid notes a volatile session for US equities, with a sharp intraday tech sell-off largely reversing by the close. The S&P 500 and Nasdaq finished modestly lower, while semiconductors also saw choppy action.