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Copper Market Eyes US Tariff Risk and Chile Supply Strain – Commerzbank
Commerzbank analyst Norman Liebke notes that the copper market is focused on a potential 15% US import tariff on refined copper, which could temporarily boost US demand and prices. Additionally, supply strain from Chile adds to the outlook.
Trump Investment Accounts Made 327 Stock Purchases Before Tariff Pause, NBC Reports
NBC News reports that President Trump's investment accounts executed 327 stock purchases the day before he paused major tariffs, raising concerns over undisclosed trading and potential conflicts of interest.
WTI Crude Oil Advances on Softer US Jobs Data, Middle East Tensions
West Texas Intermediate crude oil traded around $68.65 on Friday, up 0.30% on the day, recovering recent losses as the US dollar weakened following softer-than-expected US employment data and ongoing Middle East tensions.
US Jobs Revised Down 14 of 17 Months Since 2025, Total -710K
US employment data has been revised lower in 14 out of 17 months since the start of 2025, totaling a downward adjustment of 710,000 jobs. The latest two-month revision (April and May) was the largest since December.
RBC Economists Warn of Trade Risks After US Decision on CUSMA
RBC economists Claire Fan and Nathan Janzen assess the risks for Canada following the US decision not to extend the Canada-United States-Mexico Agreement (CUSMA), highlighting trade persistence challenges.
Foreign Investors Pile Into US Equities at Unprecedented Pace
Cumulative year-to-date inflows from global investment funds into US equities have reached about 2.5% of total AUM, more than doubling since May and far exceeding historical averages.
Oil Falls as US-Iran Talks Fuel Optimism: Commerzbank
Commerzbank notes that oil prices have declined as market optimism grows over US-Iran negotiations and the potential reopening of the Strait of Hormuz.
US DOJ and FTC Warn Oil Volatility Does Not Suspend Antitrust Laws
The U.S. Department of Justice and the Federal Trade Commission have reminded state officials that recent crude oil price swings do not override antitrust or consumer protection laws, and do not permit price manipulation or collusion.
US Antitrust Regulators Monitoring Oil Markets for Price-Fixing
US antitrust regulators announced Friday they are closely monitoring oil markets for potential price-fixing or monopolization, urging state attorneys general to assist in investigations.
US Labor Data Shows Record 564K Gap Between Payroll Surveys in June
June's nonfarm payrolls rose 57,000 while the household survey recorded a loss of 507,000 jobs, creating a massive 564,000 discrepancy. Year-to-date, household employment has fallen 1.7 million, contrasting with a 552,000 gain in nonfarm payrolls.
Euro Area Inflation Indirect Effects From Energy Shock Yet to Materialize: SocGen
Societe Generale economists note that the euro area has not yet seen indirect inflation effects from the energy shock in food or goods prices.
Gold Rebound Seen as Corrective – Commerzbank
Gold has rebounded toward $4,200 per ounce after steep second-quarter losses, according to Commerzbank analyst Carsten Fritsch. The move is attributed to weaker US labor data and reduced rate hike expectations.
South Korean Leveraged ETF AUM Hits Record $45B, Up 800% Since 2026
Assets under management in South Korea's leveraged ETFs have surged to a record ~$45 billion, an 800% increase since 2026. Leveraged exposure as a percentage of free float market cap has tripled since January to ~2.9%, while the Hong Kong-listed 2x leveraged SK Hynix ETF peaked at $15 billion, becoming the world's largest single-stock leveraged product.
LME Aluminium Falls Below $3,000 on Temporary Gulf Supply Disruptions – ING
LME aluminium slipped towards $3,000 per tonne as the market removed the geopolitical risk premium from earlier Middle East tensions, with ING analysts deeming Gulf supply disruptions temporary.
Silver Surges Above $62 on Weak US Jobs Data, Fed Rate Hike Hopes Fade
Silver (XAG/USD) jumped to $62.35, up 2.32%, as softer-than-expected US employment data dampened expectations for further Federal Reserve rate hikes, boosting demand for precious metals.
Gold Crashes 30% From ATH as ETF-Bank Buying Divergence Hits Record
Gold has fallen 30% from its all-time high, yet an unprecedented divergence has emerged between retail ETF outflows and institutional central bank buying, with options data showing a bullish put/call ratio of 0.50 for December 2026.
Central Banks Accumulate Gold During 30% Correction
Gold has fallen nearly 30% from $5,500 to $4,000 over five months, prompting central banks to increase their gold reserves.
AI Tokens Shift from Free Fuel to Major Corporate Cost
A year ago, companies encouraged employees to maximize AI usage and gave tokens as bonuses. Now managers panic, cut access, and review budgets as tokens become an unforeseen expense.
WTI Crude Hovers Near $68.50 as Bearish Risks Persist
West Texas Intermediate crude oil lingers around the mid-$68.00s after a brief intraday bounce to $69.25 on Friday, with oversold RSI levels failing to reverse the broader bearish outlook.
Allianz Chief Economist: AI's Economic Impact May Be Less Broad Than Market Expectations
Allianz Chief Economist Ludovic Subran said AI is likely to have a less uniform impact on economies than current market optimism suggests. He added that AI's benefits will be uneven across countries, industries, and companies.
BoE DMP: Businesses' Year-Ahead Inflation Expectations Rise to 4.1% in June
Bank of England's Decision Maker Panel data shows businesses' year-ahead own-price inflation expectations edged up to 4.1% in the three months to June, a 0.1 percentage point increase.
TD Securities Sees Gold Heading to $4,280 as Fed Rate Hike Odds Diminish
TD Securities' Bart Melek says weaker US jobs data and reduced chances of a 2026 Fed rate hike have pushed gold above $4,100 per ounce, with a near-term target of $4,280 and support at $3,900.
USD Under Pressure After Weak NFP Report
The US dollar weakened broadly following a softer-than-expected Non-Farm Payrolls report, reinforcing expectations that the Federal Reserve may hold off on rate hikes and could pivot to easing.
Dollar Dips as Metals Rally on Soft NFP Data
A soft non-farm payrolls report fueled a relief rally on Wall Street, reversing gold's recent downtrend and pushing the US dollar lower as rate hike expectations eased.