Inflation + geopolitical double whammy, macro traders will be staying up late again this week watching the markets.

This week, the global markets were hit by a dual shock of inflation and geopolitical tensions. The U.S. April CPI/PPI exceeded expectations, lowering the anticipation of rate cuts, with long-term government bond yields rising to 5.1%. After Kevin Wash took over the Federal Reserve, the market again bets on higher interest rates lasting longer. Escalating tensions in the Middle East and delays in Iran nuclear negotiations pushed oil prices higher, with WTI surpassing $103. UK Prime Minister Stamer faced pressure from the Labour Party after losing local elections, causing the pound to fall, and the stock, bond, and forex markets to come under pressure. The dollar rose for five consecutive days, precious metals rebounded briefly before retreating, and U.S. stocks weakened before the close. India raised gold import tariffs to curb foreign exchange pressure, while Samsung in South Korea needs government coordination due to strike risks.