Japanese Yen Rebounds as Trump Flags Currency Weakness 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
US Comfortable With Canada Trade Standoff as Import Bans Loom 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
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Oil prices edged higher on Monday following optimistic signals from U.S.-China trade talks over the weekend. Brent crude futures rose 27 cents, or 0.4%, to $64.18 per barrel, while U.S. West Texas Intermediate (WTI) crude gained 28 cents, or 0.5%, to $61.30. Both benchmarks had climbed more than $1 on Friday, capping a strong weekly gain of over 4%—their first since mid-April—amid easing fears of global economic strain from U.S. tariffs.
Investor sentiment improved after both Washington and Beijing described their discussions as productive. U.S. officials spoke of a "deal" aimed at reducing the trade deficit, while Chinese authorities reported reaching an "important consensus." A joint statement is expected Monday. Progress between the world's top two oil consumers is seen as bullish for crude demand, as trade normalization could drive higher industrial and transportation activity.
However, gains were tempered by plans from OPEC and allies (OPEC+) to increase oil output in May and June. Despite this, a Reuters survey revealed that OPEC production slightly declined in April, suggesting only a limited impact on supply. Analyst Toshitaka Tazawa of Fujitomi Securities noted that optimism over trade talks lifted sentiment, but rising supply and limited details from negotiations capped the rally.
Elsewhere, talks in Oman between the U.S. and Iran over Tehran’s nuclear program ended with plans for further dialogue. A potential nuclear agreement could lead to increased Iranian oil exports, adding downward pressure on prices. Meanwhile, U.S. energy firms cut oil and gas rigs to their lowest level since January, according to Baker Hughes, signaling a possible slowdown in domestic output growth.
