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June PPI Inflation Falls to 5.5%, Below Expectations
June headline PPI came in at 5.5% versus 6.2% expected, while core PPI dropped to 4.7% (forecast 5.2%). Month-over-month PPI declined 0.3%, the steepest drop since April 2025, further reducing the likelihood of rate hikes.
Eurozone Industrial Production Dips in May
Eurozone industrial production declined slightly in May, continuing a sluggish trend with no clear direction, and recent optimism has yet to translate into stronger output.
IBM Loses $69B in Market Cap, Banks Post Record Profits, CPI Cools
IBM suffered a sharp decline wiping out $69 billion in market value. Meanwhile, banks reported record profits and CPI inflation data came in cooler than expected.
US Launches Strikes on Iran to Degrade Strait of Hormuz Threat
US Central Command began a wave of strikes against Iran to degrade military capabilities used to attack commercial shipping in the Strait of Hormuz.
BoC Rate Decision, Fed Testimony, and UK GDP in Focus This Week
Key FX events this week include the Bank of Canada rate statement, US Core PPI, Fed Chairman Warsh's Senate testimony, and UK GDP data.
Oil Surges 2% as US Reinstates Strait of Hormuz Blockade, Brent Above $86
Oil prices rose 2% on Wednesday as the US naval blockade of the Strait of Hormuz was reinstated, pushing Brent crude above $86 per barrel.
US CPI Softens, Temporarily Easing Rates Pressure – DBS
DBS economists note US Treasuries curve bull steepened after softer June CPI data, with energy and core services surprising to the downside.
Silver Falls to $58.41, Down 0.46% on Wednesday
Silver prices declined on Wednesday, trading at $58.41 per troy ounce, a 0.46% drop from the previous close of $58.68, according to FXStreet data.
China Urges US to End Cuba Blockade, Backs Sovereignty
China's Foreign Ministry called on the U.S. to immediately stop its decades-long blockade and sanctions against Cuba, expressing firm support for Cuba's sovereignty and opposition to external interference.
ECB's Panetta Sees Inflation Above 3% Until 2027, Warns of Risk Underestimation
ECB board member Panetta says eurozone inflation is around 3% and likely to stay above that level through early 2027. He warns that equity market rallies post-Iran conflict reflect underestimation of risks from energy prices, tight financial conditions, and geopolitical uncertainty.
Silver Jumps Nearly 2% as USD Slips on Weak CPI Data
Silver rose nearly 2%, outperforming gold, as a softer US dollar and diminished Fed rate-hike expectations followed weak core CPI data, according to OCBC analysts.
ECB's Nagel Says Act Decisively If Needed
ECB Governing Council member Joachim Nagel said the central bank should be prepared for decisive monetary policy adjustments if required, without specifying direction.
PBoC Deputy Governor Vows Continued Loose Monetary Policy
A People's Bank of China deputy governor reiterated the central bank's commitment to an appropriately loose monetary policy during European trading on Wednesday.
Google DeepMind CEO Proposes US Standards Body to Test AI Models Before Release
Demis Hassabis, CEO of Google DeepMind, has proposed the creation of a US standards authority to evaluate the most powerful AI models before public release, covering cybersecurity, biological threats, and system deception.
ABN AMRO: US CPI surprise shapes Fed rate path
ABN AMRO's Rogier Quaedvlieg analyzes the recent downside surprise in US CPI data and its implications for the Federal Reserve's interest rate trajectory.
CEE House Prices Continue Steady Upward Trend: Eurostat
Residential property prices in Central and Eastern Europe are showing sustained growth, according to the latest Eurostat data released about two weeks ago.
JPMorgan: Oil Risk Shifts North of Hormuz
JPMorgan warns that the most significant oil supply risk is no longer the Strait of Hormuz but a new threat nearly 2,000 miles farther north.
US Inflation Slips, Monthly Figure Most Negative in Six Years
US inflation came in softer than expected, with the monthly reading turning negative for the first time in six years, driven largely by falling energy prices.
WTI Balances as Softer Inflation Reshapes Demand Outlook
WTI crude oil is entering Wednesday's session in a market where macroeconomic conditions and physical oil logistics are beginning to rebalance, following weeks dominated by geopolitical headlines and monetary policy.
ECB's Kocher: Ready to Act on Monetary Policy if Needed
European Central Bank Governing Council member Martin Kocher said the central bank is prepared to implement monetary policy measures at any time if required.
WTI Crude Consolidates Around $79.00, Above Key Technical Levels
West Texas Intermediate crude oil trades in a narrow range during Asian session, consolidating weekly gains near a one-month high, while holding above the 200-day EMA and 23.6% Fibonacci retracement level.
Soft CPI Eases Fed Hike Pressure Amid AI and Oil Concerns
The latest CPI data came in soft, reducing the likelihood of an imminent Federal Reserve rate hike. Meanwhile, AI energy demands hit a power wall and oil supply routes are being rerouted around the Strait of Hormuz.
China NBS: Economy Remains Resilient Despite Q2 Slowdown
The Deputy Head of China's National Bureau of Statistics expressed confidence on Wednesday that the economy remains resilient despite a second-quarter slowdown.
Trump Discusses 'Massive Offensive' in Iran at Situation Room Meeting
President Trump held a Situation Room meeting to discuss a broader offensive against Iran, threatening that Tehran 'better make a deal' or face devastating strikes.