Market news
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Gold Holds Above Resistance, Eyes 4210-4215 Target
Gold has broken strong resistance at $4,155-4,165 and is targeting $4,210-4,215 as long as it stays above that zone today.
WTI Oil Falls on Oversupply Concerns
West Texas Intermediate crude slipped to around $68.30 on Monday, down 0.64%, as worries over global oversupply from OPEC+ production decisions weighed on prices.
European Stocks Rise as Markets Shift Focus to Earnings, NATO Summit
European indices opened higher on Monday, bucking the trend from mixed Asian trading as markets look past geopolitical risks and refocus on earnings and fundamentals.
Dow Jones, S&P 500, Nasdaq Futures Rise Ahead of ISM Services PMI
Dow Jones futures gained 0.18% to above 53,280, S&P 500 futures added 0.46% near 7,560, and Nasdaq 100 futures advanced 1.03% near 29,860 during European trading as markets await the ISM Services PMI release.
UK F-35 Jets Intercept Russian Aircraft Near HMS Prince of Wales
The UK Ministry of Defence reported that a Russian aircraft was intercepted and escorted by two UK F-35 jets from HMS Prince of Wales until it left the area, calling the activity unsafe and unprofessional.
Oil and Natural Gas Prices Diverge in June as Different Drivers Emerge
Oil and natural gas, typically linked as energy commodities, moved in opposite directions in June. Oil rallied on Middle East supply fears, while gas prices remained tied to storage, weather, and domestic demand.
Upcoming Economic Events: US ISM, RBNZ, FOMC, Canada Jobs
Key economic data and central bank events scheduled for the week: US ISM Services PMI, RBNZ rate decision, FOMC minutes, and Canada unemployment figures.
China Exports First Shield Tunneling Machine to Saudi Arabia for Riyadh Metro
China has completed its first shield tunneling machine for export to Saudi Arabia. The machine will be used for the Riyadh Metro Line 2 extension project.
Zelensky Cites Insufficient Interceptor Missiles Against Russian Ballistics
Ukrainian President Zelensky reported that while forces successfully intercepted drones and cruise missiles, they could not stop Russian ballistic missiles due to a shortage of interceptor missiles, urging allies to take strong decisions at the NATO summit.
Macro Transmission Monitor: USD Resilience Amid Soft Labor Data
The macro transmission chain rotated back toward USD resilience last week as labor-market data softened but remained robust enough to sustain economic confidence.
RBNZ Decision Due Wednesday; South Korea Volatility Weighs
The Reserve Bank of New Zealand decision is due on Wednesday. Asia markets are mixed as South Korea equity volatility continues and the country starts 24-hour FX trading. Samsung releases Q2 prelim results on Tuesday, while Hon Hai rises on strong sales and Q3 guidance.
Kyiv Drone Attack Death Toll Rises to Nine, Expected to Climb
Ukraine reports that at least nine people have died in Russia's overnight drone and missile strike on Kyiv, with rescue operations ongoing and the toll likely to increase.
OPEC Output Hike Aims at Revenue, May Soften Crude
OPEC is increasing supply to meet member revenue needs and market demand, which could soften crude prices but does not eliminate the ongoing energy shock.
Asian Markets Mixed as Tech Rally Fades, Oil Drops
Asian equity markets traded mixed as the recent tech recovery lost steam and falling oil prices added to uncertainty.
WTI Rises to Near $69.00 Despite OPEC+ Production Hikes
West Texas Intermediate crude oil extended gains to trade around $69.00 per barrel during Asian hours, ignoring the impact of OPEC+ supply increases and Hormuz shipping flows.
ECB’s Moulin: Central Bank in ‘Good Position’ After June Rate Hike
ECB Governing Council member Emmanuel Moulin said the central bank is well-positioned after its June rate hike, citing easing inflation alongside a decline in oil prices.
OPEC+ Agrees to Raise Output Targets by 188,000 bpd Starting in August
OPEC+ has agreed to increase its oil output targets by 188,000 barrels per day beginning in August, signaling a gradual easing of production cuts.
Iran Considers New Fees for Ships Passing Through Strait of Hormuz
Iran's ambassador to China announced at the World Peace Forum that Tehran is considering introducing service fees for ships transiting the Strait of Hormuz, with special rates for allied nations.
Asian FX Markets Steady as Traders Reposition After Holidays
Asian foreign exchange markets remained steady with limited volatility as traders returned from holidays and adjusted positions.
OPEC+ Production Hike Sends Crude Oil Prices Lower
Crude oil prices fell after OPEC+ agreed to raise production targets, signaling higher global supply and easing earlier supply concerns. Investors sold off oil futures amid fears of oversupply.
Asian Shares Rise on Tech Rebound; KOSPI Surges Ahead of SK Hynix US Listing
Asian equities advanced Monday, led by a tech rebound, with South Korea's KOSPI surging ahead of SK Hynix's US listing. US stock futures extended gains, while oil eased after OPEC+ approved another output increase.
Earn2Trade Updates Evaluation Rules and Profit Split Structure
Earn2Trade removed its minimum 10-trading-day evaluation requirement and restructured profit splits to 50/50 below certain account thresholds and up to 80/20 above them, effective for purchases from July 6, 2026.
Bitcoin, Gold, Silver Rise on Hopes of Delayed Fed Rate Hikes After Warsch Inflation Comments
Bitcoin, gold, and silver gained as markets price in a slower pace of Fed rate increases following Warsch's remarks on easing inflation risks. The dollar held steady ahead of the FOMC minutes.
Gold Holds Near Record Highs on Weak US Jobs Data, Lower Oil
Gold prices remain near all-time peaks as disappointing US jobs data and falling oil prices reduce expectations of further Federal Reserve rate hikes. Renewed efforts by Trump allies to reshape the Fed are also seen by markets as a key factor supporting gold.