Today Fundamental Analysis: Oil resumes its downward trend despite temporary escalations at the weekend

Oil prices remain in a clear downtrend despite moving higher after renewed tension between the U.S. and Iran over the weekend raised concerns about potential supply disruptions in the Middle East.

Oil prices remain in a clear downtrend despite moving higher after renewed tension between the U.S. and Iran over the weekend raised concerns about potential supply disruptions in the Middle East. Although both sides later agreed to pause hostilities and allow commercial shipping through the Strait of Hormuz, investors remain cautious about the durability of the ceasefire, keeping energy markets on edge.

In early trading today, U.S. stock futures moved higher as investors welcomed a pause in hostilities between the U.S. and Iran, although uncertainty over the durability of the agreement kept attention on Middle East oil supplies. S&P 500 and Nasdaq futures gained around 0.6% and 0.7%, while Dow futures also edged higher.

Wall Street enters the final week of June following a rotation out of technology stocks. The S&P 500 and Nasdaq posted weekly losses as major AI-related companies came under pressure, while the Dow outperformed thanks to gains in defensive sectors. Investors are increasingly questioning whether massive spending on AI infrastructure will generate sufficient returns, contributing to the recent shift away from technology stocks.

Gold and silver prices declined on Monday as rising oil prices renewed inflation concerns, reducing demand for non-yielding precious metals. Gold fell below $4,070 per ounce, while silver dropped more than 1.5% to $58.50

In the crypto market, bitcoin has rebounded strongly as it broke back above $60,000 in early trading. Ethereum remains near its yearly low around $1,580.

STARTRADER
Type: STP, ECN, Prime ECN
Regulation: FSA (Seychelles), ASIC (Australia), FSCA (South Africa), FSC (Mauritius), CMA (UAE)
read more
Dollar gains as US PPI data bolster Fed hike bets

Dollar gains as US PPI data bolster Fed hike bets

US PPI data strengthens September hike chance - Dollar rises ahead of today’s US CPI numbers - ECB remains hawkish but euro struggles against the dollar - Stocks and gold pull back amid strong dollar and higher yields
XM Group | 2h 31min ago