13 million barrels per day wiped off global supply The oil market has been guided by sentiment and hopes of an imminent peace deal. About 13 million barrels per day have been wiped off global supply due to the closed Strait of Hormuz. The oil futures market
Sterling briefly climbed on domestic data but failed to sustain gains above its 200-day exponential moving average. GBP/USD rose from near 1.3350 to above 1.3400 on Tuesday, driven by positive domestic economic news. The pair touched its 200-day exponential moving average
Military action raises oil supply risk premiums as Iran vows retaliation while Washington insists negotiations remain on track. The US conducted strikes on Iranian air defense and radar systems near the Strait of Hormuz, describing the move as a warning shot. Officials emp
DRC projects confidence in critical minerals supply The Democratic Republic of Congo is driving the global battery metals market with its strategic approach to securing critical minerals supply. The country's confidence stems from its cobalt reserves and plans to m
The Australian dollar falls 0.25% against the USD as geopolitical risks rise following Trump's warning of retaliation over Iran. The Australian dollar dropped 0.25% to 0.7027 against the USD, testing a six-week low amid heightened geopolitical tensions. Markets reacted to
Democrats argue proposed tax exemptions for crypto staking and mining could unfairly advantage digital assets over traditional investments. A House Ways and Means Committee hearing on six Republican-backed crypto tax bills revealed deep partisan divisions. Democrats questi
Retaliatory U.S. strikes against Iran fuel inflation concerns, pressuring gold as traders price in higher-for-longer Fed rates. Gold and silver futures fell to year-to-date lows Tuesday after the U.S. launched retaliatory strikes against Iran, escalating geopolitical tensi
US launches strikes on Iran in retaliation The US has launched strikes on multiple sites in southern Iran in response to the downing of a US Army AH-64 Apache helicopter over the Strait of Hormuz. The helicopter was downed by an Iranian attack drone, and the two crew
House Ways and Means Committee members question bipartisan crypto tax bills, citing potential loopholes and deferred taxation risks. The U.S. House Ways and Means Committee reviewed seven draft crypto tax bills during a hearing, but lawmakers from both parties expressed re
Asia’s key inflation gauges for June may signal easing wholesale pressures in Japan and subdued consumer prices in China amid cost pressures. Japan’s Producer Price Index (PPI) for June is expected to show a month-on-month decline, easing wholesale inflation pressures. The
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