Morning wrap (13.05.2026)

The Asian session was relatively calm. Chinese indices are gaining between 0.00–0.17%, while Japan’s JP225 and Singapore’s SG20cash are up 1.30%.
The US dollar strengthened slightly again, although moves in the FX market remain limited. Market attention continues to focus on the fragile state of energy transport through the Strait of Hormuz.
According to US intelligence assessments, Iran has regained operational access to 30 of its 33 missile sites along the Strait of Hormuz. This means Tehran can once again deploy mobile launchers and, in some cases, launch missiles from fortified positions.
Iran reportedly still retains around 70% of its pre-war launcher and missile arsenal. This includes both ballistic missiles capable of striking regional targets and shorter-range cruise missiles intended for land and maritime targets.
Nvidia CEO Jensen Huang joined President Donald Trump’s delegation traveling to China alongside other leading representatives of American business. Trump announced that he would pressure Xi Jinping regarding further opening of the Chinese economy. Nvidia H200 chips have still not received approval from Chinese authorities for sale.
The strong US CPI inflation reading raised inflation expectations. The five-year breakeven inflation rate reached its highest level since October 2022, while the ten-year measure hit its highest since 2023. Higher oil prices remain an important factor. The market is increasingly concerned that the Fed may be forced to maintain restrictive policy or even raise rates again.
Oil is edging lower during today’s session, with OIL down 0.80% to 106 USD per barrel and OIL.WTI down 1.00% to 101 USD per barrel.
The Alaska Senate passed HB 1 recognizing gold and silver in coin form as legal tender. The bill also exempts transactions using precious metals from local sales and use taxes.
The Reserve Bank of New Zealand reported a slight increase in inflation expectations. This fits into the broader global theme of persistent inflation. Higher energy prices remain the main upside risk.

13 May 2026, 7:06 AM

Economic calendar: US PPI inflation and euro area GDP 📌

12 May 2026, 1:30 PM

BREAKING: U.S. CPI shows persistent inflation pressure! Dollar Strengthens After Data Release!

12 May 2026, 12:02 PM

📉 EURUSD down 0.3% ahead of April’s inflation

12 May 2026, 7:03 AM

Economic Calendar - Inflation Takes Center Stage (12.05.2026)

Economic reports

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