Energies
Key Takeaways:
- Global markets rallied after a U.S. federal court ruled that Trump’s useage of tariffs exceeded presidential authority, leading to optimism about potential easing of trade tensions.
- Nvidia reported a 69% revenue increase in first quarter of the year, boosting the performance of the tech-heavy index Nasdaq.
- Commodities markets were mixed, with oil prices falling ahead of the upcoming OPEC+ meeting, while gold prices remained relatively stable as market uncertainties weigh on the markets.
Global Stock Markets Updates
- United States: U.S. stock indices experienced modest gains. The S&P 500 gained 1.79% to 5,904, the Dow Jones Industrial Average rose 1.49% to 42,188, and the Nasdaq achieved strong gains of 2.09% reaching 21,330 following Nvidia earnings.
- Europe: European markets had minor gains, with STOXX Europe 600 up 0.34% and the FTSE 100 going up by 0.57% to 8,784
- Asia: Asian markets performed strongly, with Japan’s Nikkei 225 up 2.15% and China’s Shanghai Composite gaining 0.70%
Forex Market Updates
- U.S. Dollar: The U.S. dollar experienced volatility, initially strengthening on the court’s tariff ruling but facing uncertainties as the administration appealed the decision.
- US dollar index kicked off the week with gains as it rose above the 100 level on Thursday before falling again back below 99.00 level.
- The Japenses Yen weakened as the US dollar held its ground against major currencies. USDJPY broke above 146.00 on Thursday before falling back to the 144.00 levels as the dollar weakened.
Commodities Market Updates
- Oil prices fell this week ahead of the OPEC+ meeting where members plan to discuss a potential output increase. Brent fell 1.38% to $63.30 while West Texas Intermediate was down 0.86% to $60.98
- Gold prices remained relatively stable with minor fluctuations, as investors balanced inflation concerns against potential shifts in monetary policy. Overall, gold prices fell 1.72% this week to $3,295 for an ounce.
Major Economic Calendar Highlights (May 26–30, 2025)
- Wednesday 28 May: Inflation in Australia remained steady in April. CPI came at 2.4% on yearly basis, slightly higher than expectations of 2.3%.
- Wednesday 28 May: Reserve Bank of New Zealand lowered interest rates as expected from 3.50% to 3.25%
- Wednesday 28 May: FOMC minutes showed concerns among Federal Reserve members around potential rise in inflation as a result of Trump’s tariffs.
- Thursday 29 May: Unemployment claims in the US came at 240K, higher than the expectations of 229K.
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