Market news
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Brent Falls on US-Iran Hopes, Eases Inflation Fears
Deutsche Bank strategists note that Brent oil has reversed gains as hopes for a US-Iran deal ease stagflation concerns and lower inflation expectations.
Subdued Oil Volatility Caps USD Breakout Amid Stalled Iran Talks
Lack of tangible progress in US-Iran negotiations has kept oil price swings muted, preventing the US dollar from breaking higher despite a strong macro backdrop.
Australia Weighs Response to China's Iron Ore Monopsony – Rabobank
Rabobank strategist Benjamin Picton notes Australian iron ore majors are taking steps to counter China's growing monopsony power.
US Economy Shows No Recession Signal 100 Days Into Iran Oil Shock
More than 100 days after the start of the Iran war and the resulting global oil supply disruption, the US economy has yet to exhibit a typical recession signal.
Fed Countdown Begins as US Inflation Data, Geopolitical Risks Loom
The countdown to the year's first Fed meeting, scheduled for June 17 under Chair Warsh, has begun. Key US inflation data and rising geopolitical tensions are in focus ahead of the decision.
China to Tighten Crackdown on Illegal Fund-Raising and Cross-Border Money Movement
China has announced stricter measures targeting illegal fundraising, embezzlement, fund misuse, unauthorized cross-border capital flows, and the role of private equity funds in illicit fundraising, according to a recent statement.
Stellantis to Install Solar Power at Two-Thirds of Its Factories, Plans Battery Storage at 20 Sites
Stellantis is expanding its renewable energy footprint in Europe by installing solar power at two-thirds of its factories and planning battery energy storage systems at 20 locations, with seven plants expected to be active by 2026.
US Equity Markets Set to End Week Higher Amid Rotation
US equity markets are poised to finish the week in positive territory, with a rotation from growth to value stocks observed in recent sessions.
Commerzbank Sees Oil Near $100 on Gulf Tensions
Commerzbank analysts warn that persistent geopolitical tensions in the Persian Gulf will keep oil prices near $100, with restricted Strait of Hormuz traffic driving inflation spillovers.
Swiss Franc Extends Gains Against US Dollar as Market Awaits NFP Data
The Swiss Franc (CHF) strengthens for a second consecutive day against the US Dollar (USD), with USD/CHF hitting session lows at 0.7872. Traders are focused on upcoming US Nonfarm Payrolls data.
UBS Economist: US Jobs Report May Offer Weak Signal as Savings Shrink
UBS Chief Economist Paul Donovan warns that the upcoming US employment report could provide an unreliable picture of the labor market as consumer savings dwindle, with expectations of flat unemployment and job gains below 100,000.
US Equity Markets Set to Finish Week Higher with Rotation
US equity markets are on track to end the week higher again, with a rotation from new sectors observed in the second half.
MUFG: UK Labour Weakness May Temper BoE Hikes
MUFG analyst Derek Halpenny notes growing signs of UK labour market weakness, including a sharp drop in HMRC jobs data and elevated HR1 redundancy notifications, which could influence the Bank of England's rate path.
Gold at Pivotal Moment Ahead of US NFP Report
Gold prices are at a critical juncture as the May US Non-farm Payrolls report approaches. A breakdown could target $4,350, while a relief rally may push prices above $4,560.
Romania Defence Ministry: Object Not Army Equipment, Not in Black Sea Exercise
Romania's Defence Ministry clarified that an unidentified object is not part of the army's equipment and was not involved in recent Black Sea exercises, correcting an earlier statement.
Quantum Supremacy, Usefulness, Advantage: Key Differences Explained
A breakdown of the fundamental differences between quantum supremacy, usefulness, and advantage—terms often confused but representing distinct milestones in quantum computing evolution.
Oil Prices Stay Subdued Despite Hormuz Risk – Rabobank
Rabobank strategist Benjamin Picton notes that oil markets remain subdued even as the Strait of Hormuz is effectively closed, with Brent futures falling sharply.
AUD Weakens on Divergence Between Inflation and Slowing Economy
A Telegram post suggests the Australian Dollar's decline is driven by factors beyond inflation and the RBA, highlighting a divergence between persistent inflation and slowing economic growth.
EUR/USD Steady at 1.1613 Ahead of Nonfarm Payrolls
EUR/USD trades near 1.1613 as the US dollar strengthens on safe-haven demand amid Middle East tensions, with markets eyeing Nonfarm Payrolls data.
Dow Jones Futures Dip Ahead of US Jobs Data
Dow Jones futures edged lower 0.04% while Nasdaq 100 futures plunged 1.23% ahead of the US Nonfarm Payrolls report.
Commerzbank: US Jobs Data Volatility for USD Fades Quickly
Commerzbank analyst Michael Pfister notes that stronger US labour market data only impacts the dollar if it shifts rate-hike expectations, and the resulting volatility tends to fade fast.
ING: Weak Canadian Jobs Data Supports CAD Upside vs USD
ING's Francesco Pesole notes that weak April Canadian labour data and a dovish jobs contribution to Bank of Canada policy are supporting the Canadian dollar against the US dollar, despite a widening swap spread and USMCA risks.
Foxconn May Revenue Surges 39.57% YoY, Q2 Tracking Well Above Expectations
Foxconn reported May revenue up 39.57% year-on-year and said Q2 performance is tracking well above previously anticipated significant growth, driven by continued AI rack demand.
Poll: 68% of Americans Want Iran War to End Quickly
A new Economist/YouGov poll finds 68% of Americans want the conflict with Iran to end as soon as possible, with nearly 7 in 10 favoring a swift deal.