Wheat futures on the Paris-based Euronext exchange jumped over 4% to their highest level in six weeks amid growing concerns that escalating conflict could disrupt crucial shipping lanes in the Sea of Azov.
Gold is on track for a weekly decline as rising oil prices, fueled by escalating U.S.-Iran tensions, stoke investor fears about persistent inflation and a more aggressive Federal Reserve monetary policy.
The U.S. Treasury Department sanctioned 14 individuals and entities, including a key financier for Ayatollah Mojtaba Khamenei, in response to recent Iranian attacks on oil tankers in the Strait of Hormuz.
China has imposed a temporary ban on helium exports, a move aimed at protecting its domestic semiconductor industry as renewed conflict in the Middle East threatens global supply chains for the critical gas.
The U.S. dollar gained as investors sought safety following attacks on oil tankers in the Middle East, shifting market focus from central bank policy to geopolitical risk. The renewed tensions also caused a sharp spike in crude oil prices.
Yields on U.S. government debt climbed Tuesday as investors positioned for the release of potentially hawkish minutes from the Federal Reserve's June policy meeting, overshadowing recent weak jobs data.
Analysts at Citi argue that the Japanese yen's persistent weakness is directly tied to the country's booming stock market, as both domestic and foreign investors sell the currency to hedge their equity holdings.
The British pound traded near its strongest level since mid-June on Tuesday, as a quiet U.S. data calendar kept the dollar subdued ahead of key meeting minutes from the Federal Reserve.
Speculative bets against the Japanese yen have reached stretched levels not seen since July 2024, increasing the risk of a rapid unwinding and a sell-off in Japanese assets, according to a new Bank of America analysis.
