-
American indices mostly retreated on Friday in response to renewed trade tensions between China and the U.S. Futures suggest continued declines in today’s session (US100: -0.6%, US500: -0.4%, US30: -0.34%).
-
China’s Ministry of Commerce accused Donald Trump of violating trade arrangements during negotiations, emphasizing China’s readiness to defend its interests. The statement dims hopes for a Xi-Trump meeting despite earlier declarations from Scott Bessent that such talks should happen soon.
-
The U.S. administration plans to tighten restrictions on China’s tech sector by requiring special licenses for transactions with companies linked to already sanctioned firms (e.g., Huawei).
-
Trump announced on social media Saturday that tariffs on steel and aluminum will be raised from 25% to 50%, starting Wednesday.
-
Negative sentiment is spreading across Asia-Pacific markets. The HSCEI index is down the most (-2.15%), with losses also seen in Japan’s Nikkei 225 (-1.3%), South Korea’s Kospi (-0.2%), India’s Nifty 50 (-0.5%), and Australia’s S&P/ASX 200 (-0.24%).
-
The biggest losers in Asia’s session are tech companies, Chinese EV makers, and firms tied to steel and aluminum.
-
Australia’s manufacturing PMI fell in May from 51.7 to 51, while Japan’s rose from 49 to 49.4.
-
On forex markets: the dollar is weakening against all G10 currencies (USDIDX: -0.1%) amid rising U.S.-China tensions. Antipodean currencies are gaining the most (AUDUSD: +0.36%, NZDUSD: +0.52%). The yen is strengthening (USDJPY: -0.48%) following PM Ishiba’s statement that Japan won’t compromise on tariffs. EURUSD rebounds 0.2% to 1.137. The Polish zloty is weakening after the second round of presidential elections (EURPLN: +0.5%, USDPLN: +0.35%).
-
OPEC+ will raise oil production by 411,000 barrels per day in July, continuing its strategy to regain market share and penalize over-producers. Despite falling prices, leaders like Saudi Arabia and Russia push ahead, citing rising demand and strong fundamentals. Brent and WTI crude oil contracts are up 2.3% and 2.8%, respectively.
-
Crypto market sentiment remains negative: Bitcoin is down 0.2% to $104,770, while Ethereum drops 1.5% to $2,489.
-
Gold rebounds 0.9% to $3,320 per ounce on renewed U.S.-China tensions and dollar weakness. Silver gains 0.4% to $33.12 per ounce.
Daily Summary: U.S. stock indices are climbing following the PPI data
US OPEN: Wall Street Rallies on Soft PPI Data
BREAKING: US PPI comes in weaker than expected. EURUSD gains ground
JP Morgan earnings: Good, but it could have been better
The material on this page does not constitute as financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other particular needs.
All the information provided, including opinions, market research, mathematical results and technical analyses published on the website or transmitted to you by other means is provided for information purposes only and should in no event be interpreted as an offer of, or solicitation for, a transaction in any financial instrument, nor should the information provided be construed as advice of legal or fiscal nature.
Any investment decisions you make shall be based exclusively on your level of understanding, investment objectives, financial situation or any other particular needs. Any decision to act on information published on the website or transmitted to you by other means is entirely at your own risk. You are solely responsible for such decisions.
If you are in doubt or are not sure that you understand a particular product, instrument, service, or transaction, you should seek professional or legal advice before trading.
Investing in OTC Derivatives carries a high degree of risk, as they are leveraged based products and often small movements in the market could lead to much larger movements in the value of your investment and this could work against you or for you. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.
