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Trump-Linked Firms Tied to $9B US Critical Minerals Push
A New York Times report says the U.S. government is pursuing $9 billion in critical minerals deals with 14 companies financially linked to Donald Trump and Howard Lutnick, aiming to boost domestic supply for batteries, semiconductors, and defense, but likely facing conflict-of-interest scrutiny.
US Dollar Surges Toward Strongest Month in Nearly a Year
The U.S. dollar is on track for its biggest monthly gain in almost a year, supported by strong economic data, resilient Treasury yields, and safe-haven demand.
ING Warns Recurring Heatwaves Pose Structural Risk to Eurozone Growth
ING's Global Head of Macro Carsten Brzeski warns that recurring European heatwaves are becoming a structural drag on Eurozone growth, citing research showing measurable output losses and higher food inflation.
US and Iran Halt Attacks, Resume Strait of Hormuz Talks – Oil Rises
Geoff Yu of BNY reports that the US and Iran have agreed to cease mutual attacks and restart negotiations on the Strait of Hormuz, easing shipping concerns. Markets responded with modest gains for Brent, WTI, and Omani crude.
Mid-Market Update: South Korea AI, Iran Ceasefire, UK Politics, US Jobs in Focus
A mid-market update highlights several key events: South Korea AI investment plans, breakdown of Iran ceasefire negotiations, UK's anticipated next PM Burnham giving his first major speech, a speech by Warsh, and the upcoming US jobs report.
BIS Warns AI Investment Boom Creates Macro-Financial Risks
The Bank for International Settlements warns that the AI-driven investment boom is itself creating macro-financial risks, including debt-financed infrastructure, inflated valuations, and fiscal deterioration.
WTI Oil Holds Near $70 as Strait of Hormuz Tensions Mount
Crude oil prices are trading flat on Monday, with WTI hovering around $70.00 as geopolitical risks in the Strait of Hormuz offset a prior decline.
Andy Burnham Vows to Continue Labour Policy if Elected Leader
Greater Manchester Mayor Andy Burnham stated during Monday’s European session that his leadership plans would align with Labour’s 2024 policy platform.
JOLTS Job Openings Expected to Dip Slightly in May as Fed Aims to Cool Inflation
The US Bureau of Labor Statistics is set to release the Job Openings and Labor Turnover Survey (JOLTS) for May on Tuesday, with economists forecasting a slight decline in openings as the Federal Reserve continues its inflation-fighting stance.
UK Presumptive Next PM Andy Burnham to Choose Chancellor
Andy Burnham, widely expected to be Britain's next prime minister, is selecting his chancellor. The choice will define his economic agenda and become a focal point for accountability.
Iran Central Bank Denies Role in Bank Tech Provider Selection
Iran's central bank stated it had no role in selecting technology service providers for four banks affected by recent disruptions, rejecting claims it directed any specific company.
Brent Oil Falls as Strait of Hormuz Traffic Increases, Easing Inflation Concerns – Deutsche Bank
Deutsche Bank Research notes Brent crude dropped sharply last week as rising traffic through the Strait of Hormuz reduced conflict risk, alleviating inflation and rate-hike fears.
ECB Sintra Signals Suggest Sticky Hike Premium – Commerzbank
Commerzbank strategist Guntermann highlights the Sintra forum as a pivotal event for ECB communication, with Lagarde's opening speech and a policy panel expected to reinforce a persistent rate hike premium.
Putin Questions Western Claims of Ukraine's Progress
Russian President Vladimir Putin argued that if Ukraine were truly winning, Western leaders could just wait for Russia's strategic defeat to happen on its own.
ECB's Kazaks: No Need for Hasty Multiple Rate Hikes
ECB Governing Council member Martins Kazaks said there is currently no need for multiple interest rate hikes in a rushed manner, as the probability of negative scenarios has fallen significantly.
South Korea Unveils $520 Billion Semiconductor Mega-Cluster
South Korea announced a $520 billion plan to build the world's largest chipmaking hub, partnering with Samsung and SK Hynix to boost AI, memory, and logic chip production.
WTI Falls Below $70 on US-Iran Ceasefire Talks Uncertainty
West Texas Intermediate crude oil slipped under $70 during early European trading as uncertainty around US-Iran ceasefire negotiations weighed on sentiment.
Oil Edges Higher Despite US-Iran Escalation in Gulf
Oil prices posted modest gains on Monday, shrugging off renewed tensions between the US and Iran over the weekend. Analysts suggest the market may be overly optimistic about the timeline for a recovery in the Persian Gulf.
Kevin Warsh's Fed Chair Role May Upend Gold Market Strategy
The appointment of Kevin Warsh as Fed Chair could dismantle traditional forward guidance and predictable rate paths, signaling a major regime change for macro markets and gold.
Commodities Still Deserve Place in Portfolio After Strait of Hormuz Reminder
The Strait of Hormuz disruption is fading from market focus, but the episode underscores the enduring value of commodities in a diversified portfolio, especially when traditional assets falter.
China's M2 Money Supply Hits Record 240% of GDP, Highest Among Major Economies
China's M2 money supply has reached approximately 240% of GDP, the highest ratio among major economies, surging 100 percentage points since 2008.
Silver Slides Below $59 on Renewed Hormuz Tensions
XAG/USD fell during Asian hours on Monday as fresh military clashes between the US and Iran in the Strait of Hormuz drove oil higher, fueling risk aversion. The metal traded around $58.80, reversing two days of gains.
RBA's Kent: Central Bank Better Prepared for Next Crisis
Reserve Bank of Australia Assistant Governor Chris Kent stated that the central bank will be better equipped to handle future crises, citing a review of alternative monetary policy tools.
Iran Warns of Tension in Strait of Hormuz Amid US Talks Reports
Iran's Foreign Minister Araghchi stated that Tehran has sole responsibility for the Strait of Hormuz, warning that any bypass attempts would cause escalation, as reported by Al Jazeera.