Commodities (Crude Oil & Copper) & Macro Outlook

According to the Financial Times, U.S. President Donald Trump could implement new tariffs on dozens of countries as early as this week. The announcement marks an escalation in trade tensions amid ongoing negotiations with multiple

According to Seoul Bond Market data, on July 22, South Korea's 10-year government bond futures fell 19 ticks to 104.99 overnight as U.S. Treasury prices weakened amid rising international oil prices. Trading volume remained subdued compared to typical levels. Brent crude oil's September contract

US Treasury bonds declined on the 21st (US Eastern Time) with short-term maturities showing relative weakness, as the yield curve flattened in a bear flattening pattern. The 10-year Treasury yield rose 3.00 basis points to 4.6280% as of 3pm, while the 2-year yield climbed 4.90bp to 4.2640% and the 3

According to ICE Futures, Brent crude for September delivery rose 1.79 dollars to 91.01 per barrel on July 21 (local time), marking a 2.01% gain. The surge follows escalating military tensions between the U.S. and Iran, alongside threats from Yemen's Houthi forces to disrupt Red Sea

Vale reported second-quarter iron ore production of 84.26 million tonnes, exceeding analyst expectations of 83.84 million tonnes. Iron ore sales reached 69.95 million tonnes compared to the expected 69.54 million tonnes. Nickel production for the quarter was 42,000 tonnes.

The Bank of Korea reported that the producer price index remained flat month-over-month in June, according to data released on the 22nd. Year-over-year, the index rose 8.6%. The stabilization follows a slowing trend from April's 2.7% monthly increase to May's 1.0% gain, with offsetting movements

According to the Bank of Korea on June 22, South Korea's June Producer Price Index (PPI) remained flat month-on-month and rose 8.6% year-over-year. The month-on-month gains have slowed consecutively from 2.7% in April to 1.0% in May to flat in June. Industrial product prices fell 0.3%,

US stock markets rallied on local time July 21, with the Nasdaq Composite surging 1.29% to 25,837.21 as semiconductor stocks rebounded sharply and corporate earnings exceeded expectations. The Philadelphia Semiconductor Index jumped 5.2%, its largest single-day gain in a month, while SK Hynix ADR

According to API data, U.S. crude oil production fell 90,000 barrels per day for the week ending July 17, reversing the prior week's gain of 56,000 barrels per day.

According to API data, U.S. refinery crude oil inventories fell to 1.759 million barrels for the week ending July 17, falling short of the 1 million barrel forecast and down 500,000 barrels from the previous week's 2.259 million barrels.

According to API data released for the week ending July 17, US heating oil stockpiles increased by 495,000 barrels, compared with a decline of 73,000 barrels in the previous week.

According to API库欣 data as of July 17, U.S. crude oil inventories at Cushing fell 737,000 barrels during the week, compared to a rise of 238,000 barrels in the previous week.

According to the American Petroleum Institute (API), U.S. crude oil inventories increased by 2.603 million barrels for the week ended July 17, compared to expectations of a 500,000-barrel decline and the previous week's 564,000-barrel

According to API data, U.S. refined oil imports reached 43,000 barrels per day for the week through July 17, compared to negative 188,000 barrels per day in the prior week.

According to the American Petroleum Institute (API), U.S. gasoline inventories declined by 1.379 million barrels for the week ending July 17. The actual draw fell short of the expected 1.81 million-barrel decline and came after a 1.664 million-barrel decrease in the prior week.

According to Jin10, U.S. API crude oil imports surged to 355,000 barrels for the week ending July 17, compared with a decline of 119,000 barrels in the prior week.

The USD/JPY exchange rate broke through 163 yen on the 21st (local time), reaching its highest level in 40 years. According to Yonhap Infomax currency data (screen 6416), the rate stood at 163.137 yen at 2:14 PM on the 21st, up 0.617 yen (0.380%) from the previous close. The last time the USD/JPY ra

According to Yonhapinfomax, the dollar-yen exchange rate broke through 163 yen on July 21 at 2:14 PM New York time, reaching 163.137 yen and marking its highest level since December 1986. The pair briefly spiked to 163.213 yen. The yen's weakness is driven by rising crude oil prices amid U.S.-Iran m

On Tuesday (July 21), emerging market ETF closed up 2.80%, leading major asset classes. Brent oil fund surged 2.51%, while gold ETF gained 1.96% and Nasdaq-100 ETF rose 1.85%. Other gainers included Barclays convertible bond ETF, Russell 2000 ETF, S&P 500 ETF, and Dow ETF (all up at least 0.69%),

The U.S. API crude oil inventory report for the week ending July 17 will be released momentarily.