Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Fed Unveils Stablecoin Rules Under GENIUS Act 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Germany’s 2026 Growth Outlook Strengthens on Fiscal Spending 
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Oil prices extended gains in early Asian trading Wednesday following fresh U.S. sanctions on Iran and a larger-than-expected drop in U.S. crude inventories. Market sentiment was also lifted after President Donald Trump softened his stance on Federal Reserve Chair Jerome Powell and voiced optimism on trade relations with China.
Brent crude futures for June rose 1% to $68.12 per barrel, while West Texas Intermediate (WTI) crude climbed 1% to $63.58, building on Tuesday’s nearly 2% jump for both benchmarks.
The U.S. Treasury announced sanctions targeting Seyed Asadoollah Emamjomeh, a key figure in Iran’s liquefied petroleum gas (LPG) industry, and his affiliated companies. Officials accused him of exporting LPG, including from the U.S., to bypass sanctions and finance Iran’s activities in the Middle East. The move underscores Washington’s strategy to curb Tehran’s energy income amid ongoing nuclear negotiations. The next round of expert-level talks is set for Saturday in Oman.
Meanwhile, Trump scaled back his rhetoric against Fed Chair Powell, moving away from calls for dismissal and instead expressing confidence in the central bank. He also suggested trade discussions with China could result in reduced tariffs, though “not to zero,” signaling a less confrontational stance.
In addition, the American Petroleum Institute (API) reported a sharp 4.565 million-barrel draw in U.S. crude stockpiles for the week ending April 18, reversing the prior week’s 2.4 million-barrel build. The unexpected decline hints at tightening supply, possibly from increased refinery output or rising exports. Investors await confirmation from the Energy Information Administration (EIA) later today.
These developments collectively point to bullish momentum in the oil market, driven by geopolitical risks, shifting U.S. monetary policy tone, and improving trade sentiment.
