Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Canada Grants C$7 Million to Greenland Molybdenum Mine to Strengthen Critical Minerals Supply 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Oil Prices Plummet Following Israel’s Limited Strike on Iran
Oil prices plunged in early Asian trade on Monday as easing fears of a broader Middle East conflict following Israel’s strike on Iran caused a sell-off. Israel's attack over the weekend avoided critical oil and nuclear sites, prompting traders to remove the risk premium on crude prices.
Brent and WTI Futures Drop
Brent crude futures, expiring in December, dropped 4.1% to $72.97 per barrel, while West Texas Intermediate (WTI) crude fell 4.2% to $68.76 per barrel. Both contracts neared their lowest levels since early October.
Limited Impact on Iranian Oil
Israel targeted Iranian military sites but refrained from striking the country's major oil and nuclear facilities. Although Iran minimized the attack’s significance, the country threatened retaliation. The market had anticipated a major escalation that could disrupt oil supplies from the region, but Israel’s restraint tempered those concerns.
Despite this, the broader conflict persists, with Israel continuing its military operations against Hamas and Hezbollah.
Global Demand Concerns Resurface
With the immediate Middle East tensions easing, attention turns to economic indicators. This week’s U.S. and Eurozone GDP data, along with China’s purchasing managers’ index (PMI), will provide insights into global oil demand. Additionally, the Federal Reserve’s preferred inflation measure, the PCE price index, is due later this week.
