Morning wrap (10.06.2025)

• U.S. index futures are posting modest declines today, pulling back by around -0.2% to -0.3%. Losses are also visible in pre-market trading for the DAX, FTSE 100, and Euro Stoxx 50. Chinese indices, however, are performing noticeably better, with CHN.cash and HK.cash futures rising by approximately 1%.
• Today’s key macroeconomic release will be the U.S. CPI inflation report for May, scheduled for 12:30 PM GMT. Market expectations point to a slight increase compared to April’s data. Additionally, we may see an official statement regarding ongoing U.S.-China trade negotiations.
• The US Court of Appeals has ruled that Donald Trump’s trade tariffs can remain in place until an appeal is heard. The market has not reacted to the news.
• Among precious metals, we’re seeing significant volatility compared to other markets. Platinum is up nearly 2%, reaching $1,240 per troy ounce—returning to levels last seen in 2020. Gold gains 0.5% to $3338 per ounce while palladium is also up 0.9%
• The U.S. dollar is gaining slightly in early Wednesday trading, with the USD Index (USDIDX) rising 0.6% above the 99 mark. Agricultural commodities are mostly in positive territory, though the gains remain relatively modest. Meanwhile, the EUR/USD is trading nearly flat. Oil is gaining just under 0.5%.
• API data showed a draw of 0.37 million barrels, compared to expectations for a 0.7 million barrel build and a significant decline of -3.28 million barrels in the previous report. However, gasoline inventories rose again—by nearly 3 million barrels, following a previous increase of 4.7 million barrels.
• The JPMorgan CEO Dimon suggested that the US economy may weaken soon. According to the White House AI & Crypto Czar David Sacks, 'China is only 3 to 6 months behind the US in Artificial Intelligence'.

PLATINUM (D1 interval)

Source: xStation5