Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
U.S. Stocks End Week Higher as Markets Anticipate Fed Rate Cut 
Vietnam’s November Trade Sees Monthly Decline but Strong Year-on-Year Growth 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
U.S. Stocks Rise as Cooler Inflation Boosts Hopes for Fed Rate Cut 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Fed Meeting Sparks Division as Markets Brace for Possible Rate Cut 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Oil prices extended losses on Friday, poised for a second consecutive weekly decline amid growing expectations of an OPEC+ production hike and renewed trade tensions following a court decision on U.S. tariffs. Brent crude slipped 0.48% to $63.84 a barrel, while U.S. West Texas Intermediate (WTI) dropped 0.51% to $60.63. Both benchmarks are down approximately 1.5% this week.
Market sentiment was dampened by the likelihood that OPEC+—the alliance of the Organization of the Petroleum Exporting Countries and allies—could announce another production increase during Saturday’s meeting. Analysts, including Westpac’s Robert Rennie, suggest the upcoming output hike may exceed the 411,000 barrels per day agreed in prior meetings.
Adding to the bearish tone, JPMorgan analysts noted that a growing global oil surplus, estimated at 2.2 million barrels per day, may prompt further price corrections. They forecast crude prices will likely stay within current ranges before slipping into the high $50s by year-end.
In the U.S., legal volatility added uncertainty as a federal appeals court reinstated President Donald Trump’s sweeping tariffs, reversing an earlier block. The initial removal had triggered a 1% drop in oil prices on Thursday. Overall, crude has declined over 10% since Trump’s “Liberation Day” tariff announcement on April 2.
Meanwhile, demand outlook remains mixed. While U.S. oil consumption surged over Memorial Day, supporting short-term demand, recession fears linked to the trade conflict continue to weigh. Washington’s recent move to halt shipments of ethane and butane to China without a license further strained U.S.-China relations. JPMorgan data shows global oil demand is rising at 400,000 barrels per day—250,000 below expectations as of late May—highlighting lingering demand-side concerns.
