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Energy Markets

Crude Oil

Crude Oil

Bond markets in the US and Japan are smashed by inflation and fiscal concerns

The United States' long-term borrowing costs to Japan and Germany reached their highest level in decades on Tuesday as new inflation concerns added to the nagging concern about the fiscal pressures that are facing some of the largest economies around the world. The 30-year bond yields of the United States - the world's most important government bond market - hit their highest level since 2007. Oil prices -- which are up 50% this year -- have risen back above $90 per barrel, causing inflation fears as U.S. - Iran peace hopes fade. In Japan, fears of inflation and the expectation...

Crude Oil

Stocks and bonds are jolted by Middle East tensions that disrupt the calm market

The sell-off of U.S. government bond prices accelerated?on? Tuesday. This sent the 30-year Treasury yield to a two-decade?high as inflation fears and stock pressure were fueled by?fears?of an escalation?in the Middle East conflict. Brent crude oil prices rose for a third day in a row, after Washington and Tehran's latest signals crushed hopes that the Middle East conflict would be resolved soon. The market's response shows that tensions remain high in the Middle East, and a new escalation could have a ripple effect on oil, bonds, currencies, and stocks. The Federal Reserve's recent rate hikes were tempered by a recent...

Crude Oil

Oil prices continue to rise as US-Iran ceasefire ends

The bond yields rose on Tuesday to their highest level in decades. Oil prices also increased for the third day. Stocks in Asia gave up gains made in early trades as a U.S. - Iran truce ended and Tehran warned of a "fully offensive military posture". The 30-year Treasury bond yield rose 1.1 basis points intraday to 5.321%. This is the highest it has been in nearly 20 years. The 10-year counterpart rose 0.4 basis points to 4.724%. "In the past, when the 10-year Treasury bond rate rose above 4,65 percent, the Trump administration would follow up with some comforting...

Crude Oil

Dollar slips on markets that reduce Fed rate risk

Asian shares edged higher on Monday, led largely by Chinese stocks, ahead of important economic data. Investors kept a watchful eye on oil prices, after a large gain last week, amid a deadlock in the Gulf conflict. After a string of weak data, including a surprise drop in retail sales and a lackluster run of economic reports, markets have given up on betting that the Federal Reserve will soon raise interest rates. According to CME Group's FedWatch, a rate hike in the next month has been priced at 30%. This is down from 50% a week ago. The broadest MSCI...

Crude Oil

Brief relief MORNING BID AMERICAS

What's important in U.S. and Global Markets Today By Mike Dolan, Editor at Large, Finance and Markets The July consumer inflation report was not spectacular, but it did offer some relief to the markets who were worried about a surprise on the upside. The annual headline and core rates were lower than expected. However, the core price increase for July was higher than forecast. Below, I will get to that and more. Check out my latest article, which explores AI's impact on inflation and employment so far. Listen to the most recent episode of Morning Bid, the daily podcast. Subscribe...

Crude Oil

Oil stocks rise globally, but US CPI remains stable

Oil prices and global equity markets increased after the talks to end Iran's war reached an impasse. The markets then turned to the U.S. inflation data later that day. The?U.S. Consumer prices data will provide signals about the timing of a Federal Reserve rate increase. The data may not reflect the latest rise in oil price, but it can still be used to set expectations for next month's Fed meeting when the money markets predict a roughly 50/50 chance of an increase. According to a survey, consumer prices are predicted to rise by 0.1% in the month of July after...

Crude Oil

Stocks rise as oil prices continue to rise in anticipation of a possible US-Iran agreement

The oil prices rose and global stocks were up on Tuesday as traders focused on the negotiations between the United States and Iran on a peace agreement and the reopening of Strait of Hormuz. Gains were tempered by uncertainty over the?global inflation forecast. In an interview with Bloomberg News, Pakistan's defence minister stated that the U.S. is close to a "sort of arrangement" between Iran and Pakistan. The MSCI index of world stocks rose 0.10% to 1,154.40. The escalating tensions between the two countries have been a focus of attention. Oil prices jumped 5% Monday as a result. Donald Trump,...

Crude Oil

MORNING BID AMERICAS - Long bond

What's important in U.S. and Global Markets Today By Mike Dolan, Editor at Large, Finance and Markets Brent crude traded at almost $90 per barrel on Tuesday, after a 5% increase yesterday. The U.S.'s and Iran's hard-line positions on any potential deal have shattered hopes that the Strait of Hormuz could reopen. Below, I will go into more detail. Check out my column about Trump's latest attack on the independence of the Federal Reserve - and how it comes at a nervous time for bond markets. Listen to the Morning Bid podcast where we talk about Nvidia's $500 Billion AI...

Crude Oil

Oil prices rise in the Gulf amid confusion and Asian stock markets edge higher

The Asian share market matched Wall Street's gains on Monday, after a weak U.S. employment report reduced the risk of an increase in borrowing costs near-term. However, a lack progress?in Gulf Peace talks led to oil prices?creeping?higher. Iran announced on Sunday that it was nearing the final stages of a deal that would define new shipping lanes for the Strait of Hormuz. However, the Iranian government reiterated that this waterway will only be reopened once the United States meets other conditions. Brent crude increased by 0.9% to $84.32 per barrel, as the shipping volume through this vital waterway was minimal....

Crude Oil

US stocks and bonds rise after soft jobs report, yen recovers

The global stock market is on track for its biggest weekly gain since the beginning of May, after a weaker than expected U.S. job report eased concerns about an imminent Federal Reserve interest rate hike. Meanwhile, strong earnings and AI enthusiasm overshadowed concerns about the Iran War. U.S. stock prices opened higher on the Friday, and Treasury yields dropped. This reflects a waning expectation that the Fed would raise rates next month. The Nasdaq gained 0.7% during early trading, while the dollar dropped. This gave the Japanese yen some relief. The yen rose to 157.20 against the dollar, after previously...

Crude Oil

ROI-Weekend Reads: Inflation heat, green steel, bond angst

Are you looking for inspiration? Weekend Reads?reports on what the Open Interest team is reading, watching and listening to every Friday. This week, the picks focus on America's reliance upon Chinese goods, U.S.?overheating?, geothermal energy, green steel, and risks emanating from bond market. We're reading this 'weekend'... MIKE DOLAN. ROI Finance & Markets columnist. Mary Lovely and Christine Wan from Washington's Peterson Institute discuss how U.S. Policymakers have not made much progress in reducing America’s dependency on Chinese goods and services despite many years of effort. Direct trade declined sharply over the seven-year period from 2010 to 2024. However, direct...

Crude Oil

Nasdaq is down, but stocks are mixed; US oil prices ease on Iran talks

The major stock indexes were mixed on Wednesday. SpaceX shares and Advanced Micro Devices declined, and U.S. oil prices eased as signs of progress towards a peace agreement with Iran emerged. Two?regional? officials and a senior Iranian source said that a proposed agreement between Iran, Oman and the United States to end the five-month war between Iran and America would give Tehran control of ships entering the Gulf via the Strait of Hormuz. This is one of the largest concessions to Iran yet. U.S. West Texas Intermediate Futures dropped 55 cents or 0.73% to $75.22 per barrel. Brent crude futures...

Refined Products

Fossil Fuels

ADNOC, the UAE's oil company, sold at least 14 million barrels of crude oil in its latest tender.

In its most recent tender, Abu Dhabi National Oil Co. sold at least 14,000,000 barrels of'spot crude' to Asian refiners for premiums. ADNOC had issued its eighth tender?since? the start of June, as the state oil company of the United Arab Emirates continued to try and move crude produced within the Strait of Hormuz despite persistent shipping delays. ADNOC has now sold more than 108 million barrels of crude oil through eight different tenders. Sources said that Japanese refiner Cosmo Oil purchased 2 million barrels on Upper Zakum crude at a price premium of $10.50 per barrel over Dubai's benchmark...

Refined Products

Weekend Reads: Jamie Dimon, Jamie Dimon's battery recycling and the Kill Zone

Are you looking for inspiration? Weekend Reads is a weekly feature that highlights what the Open Interest team has been reading, watching and listening to. The Open Interest team shares what they've been watching, listening to and reading. This week's selections include the emergence of drone warfare, Europe's AI ambitions and Jamie Dimon's worries about long-dated bonds at JPMorgan Chase. This weekend we are reading... RON BOUSSO, ROI Energy Columnist. He has produced an amazing, frightening and visually stunning piece on Ukraine's "kill zone" with drones, which has changed the battlefield between Russia and Ukraine. CLYDE RUSSELL is a ROI...

Refined Products

Japan's June core inflation increases, but remains below BOJ target

Japan's core price inflation rose in June, but it remained below the central bank's target of 2% for a fifth consecutive month. This suggests that firms have not yet aggressively passed on rising input cost to consumers. Analysts expect that consumer inflation will accelerate in the second half of this year, as the recent spike in producer prices, fueled by the rising cost of fuel and imports from the Middle East conflict, and the weakening yen, filters through to the rest the economy. Analysts say that the yen's decline to its lowest level in four decades is likely to increase...

Mining

Mineral Resources

Mineral Resources

Markets expect key US inflation data

Gold edged up on Tuesday, after reaching a?peak? of more than two months earlier. Market participants are awaiting important U.S. Inflation figures that may influence expectations about the Federal Reserve’s policy. Gold spot was up 0.2% to $4,396.87 an ounce by 11:05 am EDT (1505 GMT) after reaching its highest level in the session since June 5, at $4434.84. U.S. Gold Futures rose 0.8% to $4456.10. The market will be looking at this week's data to confirm that inflation is under control, said Peter Grant, senior metals analyst and vice president of Zaner Metals. He added that a moderated annualized...

Mineral Resources

Gold falls from two-month high, inflation reports are in focus

Investors focused on inflation data to get clues about the U.S. rate outlook. Gold spot was down 0.3% at $4,374.82 an ounce as of 0548 GMT after reaching its highest level in the session since June 5, $4,434.82. U.S. Gold Futures increased 0.4% to $4435.00. Ahmad Assiri is a Research Strategist for Pepperstone. He said that the move higher in gold's early session trading above $4,400 was primarily driven by renewed flows and a noticeable shift in metal market sentiment. If?this change of sentiment continues to attract more flows, this could be an important factor in determining if gold can...

Mineral Resources

Gold prices fall on a strong dollar; markets watch US inflation data to get Fed policy clues

Gold prices fell on Monday due to a stronger dollar and investors awaiting key U.S. data about inflation that could influence expectations of the Federal Reserve. By 09:33 am EDT (1333 GMT), spot gold had fallen 0.2%, to $4335.27 an ounce. After an unexpected decline in U.S. Nonfarm Payrolls, it reached its highest level since Friday. U.S. Gold Futures dropped 0.1% to $4,394.00. Jim Wyckoff is a market analyst at American Gold Exchange. He said, "Gold is under pressure from the firm dollar index today and is taking a break?ahead?of a key inflation report due later this week." Dollar-priced gold...

Mineral Resources

US inflation data is the focus as gold drops from a seven-week high.

Gold prices fell on Monday, despite hitting a seven-week peak in the previous session. The stronger dollar was to blame, and investors are looking forward to inflation data, which will provide new clues about the policy direction of central banks. As of 1122 GMT, spot gold was down 0.2% to $4,332.68 an ounce. After weak U.S. payroll data, prices hit their highest level since June 17, on Friday. U.S. Gold Futures dropped 0.2% on Monday to $4,391.60. Dollar gained 0.2% making greenback bullion prices more expensive for holders of other currencies. Gold remains capped by the U.S. - Iran conflict...

Mineral Resources

Gold falls from its seven-week high as US inflation data is looming

Gold prices fell on Monday, as investors took profits following a seven-week high. Meanwhile, markets waited for new clues from U.S. inflation figures to determine the Federal Reserve's rate policy. As of 0200 GMT, spot gold was down 0.5% to $4,322.28 an ounce. After a weaker than expected?U.S. jobs data. U.S. Gold futures dropped 0.4% on Monday to $4,381.60. Gold is slightly lower as it succumbs a little to profit-taking after last week's NFP-inspired gains. This is more of a natural stabilisation than a significant shift in sentiment. I expect gold will remain above $4,300 in the near term. The...

Mineral Resources

Gold nears seven-week high amid easing concerns about rate hikes

Gold reached a seven-week high on Thursday and extended gains into the fourth session as the hopes of reopening the Strait of Hormuz helped ease fears of inflation and rising interest rates. Gold spot was up 0.6% to $4,271.33 an ounce at 0843 GMT after hitting its highest level in June 18 earlier. The bullion market posted its largest daily gain since February on Wednesday, with an increase of $4,267.24 for each ounce. U.S. Gold Futures increased 0.6% to $4330.20. Gold tries to hold on to its recent gains amid increasing optimism surrounding the Strait of Hormuz. The hope for...

Mineral Resources

Iran talks and lower bond yields set gold on course for its largest daily increase since February

The gold price climbed to its highest level in nearly seven weeks on March 3. It is on track to be the largest daily increase?since the beginning of February, due to the lower Treasury yields and the?hopes of progress regarding the opening of the Strait of Hormuz. By 2:15 pm, spot gold had risen 4.4% to $4253.36 an ounce. ET (1815 GMT), it had reached $4,264.93 - its highest level since June 18 - and was above the 50 day moving average which now supports gold at $4,160. U.S. Gold Futures for December Delivery rose by 3.7%, to $4,305.20 an...

Mineral Resources

Iran talks and lower bond yields set gold on course for its largest daily increase since February

The gold price rose to its highest level in nearly seven weeks on Wednesday and was on track to post the largest daily increase since February due?to lower Treasury rates and hopes of progress regarding opening the Strait of Hormuz. By 11:04 am, spot gold had risen 4.4% per ounce to $4256.85. The spot gold price rose 4.4% to $4,256.85 per ounce at 11:04 a.m. ET (1504 GMT), after reaching $4,258.99 - its highest level since June 18 - and breaking above the 50 day moving average. It now stands at $4,160. U.S. Gold Futures for December Delivery rose by...

Mineral Resources

Gold gains due to lower oil prices and weaker dollar

Gold rose for a third session in a row on Wednesday. This was helped by the softer dollar and lower crude oil prices. Investors were waiting for U.S. employment data to get a sense of interest rate outlook. By 0455 GMT spot gold had risen 1.4% to $4,133.83 an ounce, which was a new two-week high. U.S. Gold Futures rose 1%, to $4191.90. Holders of other currencies will find greenback-priced gold more appealing. Oil continued to decline after two days of steep drops. Lower oil prices can reduce inflation fears that are often the cause of expectations for higher interest...

Mineral Resources

Markets await US job data as gold extends its gains due to lower oil prices and a softer dollar

Gold rose for a third consecutive session on Wednesday. This was helped by a softer dollar and lower crude oil prices. Investors were waiting for U.S. job data to get clues about the interest rate outlook. As of 0253 GMT, spot gold rose 1.3% to $4,127.04 an ounce. U.S. Gold Futures increased 0.8% to $4184.40. Holders of currencies other than the U.S. Dollar will find greenback-priced precious metals more appealing. After two steep drops, oil prices have stabilized. Lower oil prices can ease inflation fears that often fuel expectations of higher interest rate. Qatar claimed that mediators are making progress...

Mineral Resources

Gold gains ground despite turmoil in the Middle East and US job data

The price of gold climbed a little on Tuesday, as investors weighed the mixed signals from potential 'U.S.Iran' talks and awaited this week's U.S. Labor Market Reports for clues about Federal Reserve interest rate trajectory. Spot gold increased 0.2% at $4,059.81 an ounce as of 0257 GMT. Investors are awaiting reports on the U.S. labor market. These include job opening data in the afternoon, the ADP Employment Report on Wednesday, and the nonfarm payrolls numbers on Friday. "Gold is in a consolidation phase." Ajay Kedia of Mumbai-based Kedia Commodities said that if we see a weakening in the U.S. Dollar,...

Mineral Resources

Gold prices fall as markets consider Middle East instability and inflation risks

Gold prices fell on Monday, as concerns about inflation and the war in the Middle East remained. The markets will also be watching the U.S. Federal Reserve policy direction this week. Spot gold dropped 0.3% per ounce to $4,030.34 by 2:00 pm EDT (1800 GMT), and U.S. gold futures for delivery in August settled at $4,090.50, a 0.4% decline. Gold has been in a trading band for over a month, roughly between $4,000 and $4200. The fact that the market may be anticipating a rise in inflation is a positive factor, particularly in July when fresh data are expected to...