RBA Holds Rates but Warns of Rising Inflation Pressures 
Oil Prices Dip as Markets Watch Ukraine Peace Talks and U.S. Rate Decision 
U.S.-Indonesia Trade Deal Faces Uncertainty as Jakarta Reconsiders Key Commitments 
Silver Prices Surge to New Record Above $60 as Supply Concerns and Fed Expectations Boost Demand 
Australian Dollar Rises as RBA Holds Rates and Signals Persistent Inflation Risks 
Global Forex Markets Brace for Fed Decision as Yen Extends Weakness 
Japan’s Q3 Economic Contraction Deepens as Revised Data Signals Stronger Headwinds 
U.S. Open to Special Trade Terms for South Africa Under Possible AGOA Extension 
Wall Street Futures Steady as Markets Await Fed Decision; Nvidia Gains on China Chip Sales Approval 
U.S. Defense Bill Sets Record $901 Billion Budget, Includes Ukraine Aid 
ECB Signals Steady Rates Ahead as Policymakers Warn of Inflation Risks 
U.S. Economic Outlook 2026: Growth Seen Strengthening as Fiscal Support Ramps Up 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Gold Prices Inch Higher as Fed Rate-Cut Expectations Strengthen 
Holiday Economic Questions: What Bank of America Says You Should Expect 
Stocks Slip as Investors Brace for Fed Decision and JPMorgan Warning Weighs on Markets 
Oil prices extended losses in early Asian trading Thursday, pressured by fresh geopolitical developments and a surprise surge in U.S. crude inventories. Brent crude futures for June delivery fell 1.6% to $65.04 per barrel, while West Texas Intermediate (WTI) dropped 1.7% to $61.62, retreating from a two-week high.
The decline followed a report from NBC News indicating Iran is open to a nuclear deal with U.S. President Donald Trump—on the condition that all economic sanctions are lifted. Ali Shamkhani, a senior adviser to Supreme Leader Ayatollah Ali Khamenei, stated Iran is ready to permanently forgo nuclear weapons and accept full international inspections if U.S. sanctions are removed. This marks the clearest sign yet from Tehran’s leadership of willingness to negotiate, although skepticism remains high due to Trump’s continued “maximum pressure” stance and fresh U.S. sanctions targeting Iranian oil shipments to China.
Investor sentiment was further rattled by data from the U.S. Energy Information Administration, which showed an unexpected 3.5 million-barrel increase in commercial crude inventories for the week ending May 9, reaching 441.8 million barrels. Analysts had anticipated a drawdown of 2 million barrels. The surprise build raised concerns about oversupply amid sluggish demand, especially as OPEC+ maintains its aggressive output increases.
The twin pressures of potential geopolitical de-escalation with Iran and signs of a supply glut triggered a sharp market reaction, with both benchmark oil contracts dropping more than $1 per barrel post-report. Traders now eye further signals from U.S.-Iran negotiations and upcoming economic data for direction. As volatility returns, oil markets remain sensitive to both diplomatic headlines and supply-demand imbalances.
