Futures for Canada's main stock index were little changed on Monday as a sharp rise in crude oil prices, driven by Middle East tensions, supported energy stocks and offset a broader global risk-off sentiment.
The German airport operator's stock rallied after management confirmed its full-year outlook, overshadowing a year-over-year decline in June passenger numbers at its main Frankfurt hub.
U.S. Central Command stated its forces are 'positioned and prepared' to ensure freedom of navigation in the Strait of Hormuz, following an exchange of fire with Iran and Tehran's subsequent claim to have closed the vital oil waterway.
Foreign exchange markets are bracing for significant activity as several large currency option contracts, particularly in EUR/USD and USD/JPY, are set to expire on Wednesday, potentially influencing short-term price action.
According to analysts at Citi, the Japanese yen's ongoing weakness is increasingly driven by investors selling the currency to hedge gains from Japan's surging equity market. The bank identifies ¥165 per dollar as a key level to watch and notes that only a policy shift or intervention could halt the trend.
Crude oil benchmarks pared an initial 5% surge but remained sharply higher after Iran declared the Strait of Hormuz closed amid escalating military conflict, stoking fears of a major global supply disruption.
U.S. Treasury yields climbed as investors anticipated the release of minutes from the Federal Reserve's June meeting, which are expected to confirm a hawkish policy outlook.
Speculative bets against the Japanese yen have reached stretched levels not seen since July 2024, creating conditions for a potential sharp reversal, according to a new report from Bank of America.
The British pound and euro fell against a strengthening U.S. dollar on Wednesday, as rising oil prices from Mideast tensions and anticipation of hawkish Federal Reserve meeting minutes fueled safe-haven demand.
