[MARKET UPDATE] Oil futures surged about USD 4/bbl over 8 minutes, but have since pared the majority of the move, amid no news catalysts
The rapid surge in oil futures, increasing by about USD 4/bbl, suggests a momentary market reaction possibly driven by technical factors or speculative trading rather than fundamental changes.
New Zealand's Finance Minister says the Treasury projects inflation could reach 7.4% in 2025/26 under the worst case scenario
PBoC is expected to set USD/CNY mid-point at 6.8294 (prev. 6.8635)
[MARKET UPDATE] Oil futures surged about USD 4/bbl over 8 minutes, but have since pared the majority of the move, amid no news catalysts
BoK and South Korea's Finance Ministry are to strengthen harmonious policy coordination, with Finance Minister Koo and BoK's new Governor Shin set to maintain close communication through regular market meetings
[MARKET UPDATE] Asia-Pac stocks begin mixed following the gains on Wall St and another busy day of geopolitical headlines, while the region also digests earnings updates including record quarterly profit from SK Hynix
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The subsequent pullback indicates that this spike lacks sustainable momentum, implying that traders are cautious without clear news catalysts to justify such moves. Watch for any developments that could provide stronger direction, as this volatility can create opportunities or risks in associated assets like currencies and equities.
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