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SYMBOL
LAST
BID
ASK
HIGH
LOW
NET CHG.
%CHG.
SPREAD
SPX
S&P 500 Index
6827.42
6827.42
6827.42
6899.86
6801.80
-73.58
-1.07%
--
DJI
Dow Jones Industrial Average
48458.04
48458.04
48458.04
48886.86
48334.10
-245.98
-0.51%
--
IXIC
NASDAQ Composite Index
23195.16
23195.16
23195.16
23554.89
23094.51
-398.69
-1.69%
--
USDX
US Dollar Index
97.950
98.030
97.950
98.500
97.950
-0.370
-0.38%
--
EURUSD
Euro / US Dollar
1.17394
1.17409
1.17394
1.17496
1.17192
+0.00011
+ 0.01%
--
GBPUSD
Pound Sterling / US Dollar
1.33707
1.33732
1.33707
1.33997
1.33419
-0.00148
-0.11%
--
XAUUSD
Gold / US Dollar
4299.39
4299.39
4299.39
4353.41
4257.10
+20.10
+ 0.47%
--
WTI
Light Sweet Crude Oil
57.233
57.485
57.233
58.011
56.969
-0.408
-0.71%
--

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Ukraine Says It Received 114 Prisoners From Belarus

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USA Embassy In Lithuania: Maria Kalesnikava Is Not Going To Vilnius

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USA Embassy In Lithuania: Other Prisoners Are Being Sent From Belarus To Ukraine

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Ukraine President Zelenskiy: Five Ukrainians Released By Belarus In US-Brokered Deal

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USA Vilnius Embassy: USA Stands Ready For "Additional Engagement With Belarus That Advances USA Interests"

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USA Vilnius Embassy: Belarus, USA, Other Citizens Among The Prisoners Released Into Lithuania

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USA Vilnius Embassy: USA Will Continue Diplomatic Efforts To Free The Remaining Political Prisoners In Belarus

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USA Vilnius Embassy: Belarus Releases 123 Prisoners Following Meeting Of President Trump's Envoy Coale And Belarus President Lukashenko

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USA Vilnius Embassy: Masatoshi Nakanishi, Aliaksandr Syrytsa Are Among The Prisoners Released By Belarus

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USA Vilnius Embassy: Maria Kalesnikava And Viktor Babaryka Are Among The Prisoners Released By Belarus

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USA Vilnius Embassy: Nobel Peace Prize Laureate Ales Bialiatski Is Among The Prisoners Released By Belarus

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Belarusian Presidential Administration Telegram Channel: Lukashenko Has Pardoned 123 Prisoners As Part Of Deal With US

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Two Local Syrian Officials: Joint US-Syrian Military Patrol In Central Syria Came Under Fire From Unknown Assailants

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Israeli Military Says It Targeted 'Key Hamas Terrorist' In Gaza City

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Rwanda's Actions In Eastern Drc Are A Clear Violation Of Washington Accords Signed By President Trump - Secretary Of State Rubio

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Israeli Military Issues Evacuation Warning In Southern Lebanon Village Ahead Of Strike - Spokesperson On X

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Belarusian State Media Cites US Envoy Coale As Saying He Discussed Ukraine And Venezuela With Lukashenko

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Belarusian State Media Cites US Envoy Coale As Saying That US Removes Sanctions On Belarusian Potassium

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Thai Prime Minister: No Ceasefire Agreement With Cambodia

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US, Ukraine To Discuss Ceasefire In Berlin Ahead Of European Summit

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          With Iran, Trump Places The Biggest Bet Yet In His High-stakes Presidency

          Liam Peterson
          Summary:

          The U.S. airstrike on Iran, however, may represent Trump's largest gamble yet. While the potential for political reward is high and largely dependent on whether Trump can maintain the fragile peace he is trying to forge between Iran and Israel, experts say, there is a downside risk of events spiraling out of Trump’s control while a skeptical American public watches.

          Like the casino owner he once was, President Donald Trump has shown an appetite for risk during the first months of his administration.

          The U.S. airstrike on Iran, however, may represent Trump's largest gamble yet. While the potential for political reward is high and largely dependent on whether Trump can maintain the fragile peace he is trying to forge between Iran and Israel, experts say, there is a downside risk of events spiraling out of Trump’s control while a skeptical American public watches.

          For now, Trump appears to have won his bet that he could limit U.S. involvement and force the parties to a ceasefire. “He wagered,” said Firas Maksad, managing director for the Middle East and North Africa practice at Eurasia Group. “Things went his way.”

          It remains to be seen whether the ceasefire will hold. Early Tuesday, Trump expressed frustration that Israel had launched an attack on Tehran hours after the president had declared a break in the hostilities.

          If the agreement doesn’t stick - or if Iran ultimately retaliates militarily or economically - Trump risks fragmenting the America First coalition that helped power him back into office by rendering what his movement stands for increasingly nebulous and ill-defined.

          “If six months from now, Iran continues to be a problem, it will grind down the MAGA coalition,” said Chris Stirewalt, a political analyst with the conservative American Enterprise Institute.

          Trump, in a sense, has already diluted the MAGA brand, Stirewalt said, by doing what he swore on the campaign trail he wouldn’t: involve the United States in another conflict in the Middle East.

          And Trump's messaging may already show the challenges that could be faced with winning approval from his base. Last Thursday, Trump said he would take as long as two weeks to determine whether the U.S. would join the war on Israel’s side, arguing the time was needed to lower the temperature.

          Instead, two days later, he approved the bomber run, not only likely catching the Iranians off guard but many Americans as well.

          His choice to hit Iran could also pose problems for whichever Republican tries to claim his mantle in the next presidential election. “In 2028, the question of foreign intervention will be a dividing line. It will be a litmus test as people struggle to define what MAGA is,” Stirewalt said.

          The White House largely left it to Vice President JD Vance, one of the most isolationist members of the administration, to defend the Iranian strike on a Sunday news program. Vance is viewed as one inheritor of the MAGA movement after Trump leaves office, and would be forced to reconcile his support of the strike with his personal politics.

          BETTING BIG

          Iran has not been the only example of where Trump has bet big and the payoff remains elusive.

          His on-again-off-again use oftariffshas sparked uncertainty in markets and stoked inflation fears. His efforts to slash the government bureaucracy have lost momentum with the departure of Elon Musk from his circle of advisers. His hardline immigration push sparked protests across the country.

          But if Trump does succeed in his efforts to push Iran to abandon its nuclear weapon ambitions, it would make for a legacy-building achievement in a region that has bedeviled U.S. presidents for decades and seen the nation pulled into wars in Iraq and Afghanistan.

          Trump campaigned on ending the "forever wars" — which may be one reason why the American public appears to be jittery about his aggression toward Iran.

          A Reuters/Ipsos poll released on Monday, and conducted before the ceasefire was announced, showed that only 36% of those surveyed supported the strikes against Iran’s nuclear program.

          Overall, Trump’s approval rating fell to 41%, a new low for his second term. His foreign policy received even lower marks.

          Dave Hopkins, an expert on U.S. politics at Boston College, said that with his seemingly sudden move to launch an attack, Trump neglected to make a case in advance to the American people that the strike was in U.S. interests.

          “We have not seen discussion of Iran as a major enemy of the U.S. or a threat to the U.S.,” Hopkins said.

          The White House defended Trump's actions as vital and successful.

          “In just 48 hours, President Trump accomplished what his predecessors have only dreamed about – Iran’s nuclear capabilities are obliterated following the flawless execution of Operation Midnight Hammer, a ceasefire has been brokered to conclude the ’12-Day-War,’ and the entire world is safer. Americans can sleep well at night knowing that our nation is secure because President Trump is in charge,” Anna Kelly, a White House spokeswoman, said.

          PROMISES, PROMISES

          Trump’s boast that he had forced a ceasefire was part of a pattern, Hopkins said. As a candidate, Trump promised he could end the wars in Ukraine and Gaza, but has since discovered he cannot bend Moscow and Jerusalem to his will. In fact, in striking Iran, Trump followed Israel’s lead, not vice versa.

          The strike fits with how Trump has approached his second term, with a willingness to govern in broad strokes and act boldly without widespread public backing. He does not need to worry about facing voters again and works with a largely compliant Republican-controlled Congress.

          Along that line, the first months of Trump’s tenure have seen him fire thousands of government workers, green-light immigration raids and deportations that have provoked protests and eroded blue-collar workforces, erect trade barriers on the flow of goods – and now, bomb a Middle Eastern nation.

          Political payback may not happen immediately, said Allison Stanger, a political scientist at Middlebury College, but could come in the form of continued civic unrest in America or Democratic gains in next year's midterm elections.

          “Trump’s political risk isn't immediate escalation,” Stanger said. “It's the slow burn of resentment he has built across multiple fronts, both foreign and domestic.”

          Source: 路透社

          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
          Add to Favorites
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          White House Close To Announcing More Trade Deals

          Daniel Carter

          Economic

          Political

          U.S. President Donald Trump's administration is close to announcing a “handful of trade deals,” FOX News' Charles Gasparino said in a social media post on Tuesday.
          Gasparino cited sources on Wall Street and the White House, which said that Washington was making progress on potential deals with Japan, South Korea, and Vietnam.
          Gasparino said that while India was “thought to be a done deal,” its brief military conflict with Pakistan upended trade talks. While an India trade deal could reemerge, it is no longer on the list of pending deals.
          The Trump administration was seen engaging in steady dialogue with Japan and South Korea in recent weeks, although progress towards a deal appeared unclear.
          Japan in particular has maintained its demand to be exempt from all U.S. tariffs, which has complicated trade talks with Washington.
          Gasparino's post comes with roughly two weeks left for Trump's deadline to impose harsher, “reciprocal tariffs” on major economies. Trump had unveiled the tariffs during his “liberation day” in early-April, and had given the targeted countries three months to reach a trade deal with the United States.
          So far, Trump has only struck a trade deal with the UK and a temporary agreement with China.

          Source: Investing

          To stay updated on all economic events of today, please check out our Economic calendar
          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
          Add to Favorites
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          US Strikes May Have Set Back Iran Nuclear Program Only Months

          Daniel Carter

          Political

          Middle East Situation

          Key points:
          ● Trump has said strikes 'obliterated' Iran's nuclear program.
          ● Damage assessments can change as more information comes to light.
          ● Agency one of many tasked with assessing success of US strikes.
          A preliminary U.S. intelligence assessment has determined that U.S. strikes over the weekend on Iranian nuclear facilities have set back Tehran's program by only a matter of months, three sources with knowledge of the matter told Reuters.
          The initial report was prepared by the Defense Intelligence Agency, the Pentagon's main intelligence arm and one of 18 U.S. intelligence agencies, said two of the sources, who requested anonymity to discuss classified matters.
          The classified assessment is at odds with the statements of President Donald Trump and high-ranking U.S. officials - including Defense Secretary Pete Hegseth. They have said the weekend strikes, which used a combination of bunker-busting bombs and more conventional weapons, essentially eliminated Iran's nuclear program.
          Trump's administration on Tuesday told the U.N Security Council that its weekend strikes on Iranian nuclear facilities had "degraded" Iran's nuclear program, short of Trump's earlier assertion that the facilities had been "obliterated."
          Asked for comment, the White House pointed to a statement by White House spokesperson Karoline Leavitt to CNN, which first reported the assessment, that the "alleged" conclusion was "flat-out wrong."
          "Everyone knows what happens when you drop fourteen 30,000 pound bombs perfectly on their targets: total obliteration," she said.
          Trump has said the attacks were necessary to prevent Iran from developing a nuclear weapon. Iran denies it is seeking such a weapon and says its nuclear program is for peaceful purposes.
          Hegseth on Sunday said that the strikes had "obliterated" Iran's nuclear ambitions, while Trump said Iran's crucial nuclear sites had been "completely and fully obliterated."
          Assessing the damage at the Fordow, Isfahan and Natanz nuclear sites is expected to be a difficult task, and the DIA is not the only agency tasked with the job. One source said the assessment was not universally accepted and had generated significant disagreement.
          A U.S. official, speaking on condition of anonymity, said the U.S. did not know the extent of the damage yet.
          Still, the initial assessment indicated the strikes may not have been nearly as successful as the Trump administration has claimed.
          One of the sources said Iran's enriched uranium stocks had not been eliminated, and in fact the country's nuclear program may have been set back only a month or two.
          The Pentagon disputed the notion that the damage to Iran's nuclear program was minor, though it did not dispute that the DIA assessment exists.
          "Based on everything we have seen — and I've seen it all — our bombing campaign obliterated Iran's ability to create nuclear weapons," Hegseth said in a statement provided to Reuters.
          "Our massive bombs hit exactly the right spot at each target—and worked perfectly. The impact of those bombs is buried under a mountain of rubble in Iran; so anyone who says the bombs were not devastating is just trying to undermine the President and the successful mission."
          Initial military assessments can change as more information comes to light and it is not uncommon for opinions to vary across different U.S. intelligence agencies.
          Democrats have previously said Trump's claims that the weekend strikes eliminated or seriously set back Iran's nuclear program were not yet backed by evidence.
          "There's zero evidence that I've seen that the nuclear program was completely and totally obliterated as Donald Trump has claimed," House of Representatives Democratic Leader Hakeem Jeffries said on Monday.
          Classified briefings on the matter for members of the House of Representatives and Senate were canceled on Tuesday.

          Source: Reuters

          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
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          Senate Banking Committee Pushes for Rapid Legislative Action on Crypto Market Framework

          Manuel

          Cryptocurrency

          The Senate Banking Committee released a seven-point framework for digital asset market structure and heard testimony urging Congress to translate those principles into statute without delay on June 23.
          Committee Chair Tim Scott and Senators Cynthia Lummis, Thom Tillis, and Bill Hagerty set out a plan that draws a statutory line between digital asset securities and commodities. However, there is no draft of a bill as of press time.
          Furthermore, the plan allocates jurisdiction to existing regulators instead of creating a single crypto agency while updating registration paths so compliant issuers can raise capital under an exemption tailored to distributed-ledger projects.
          The document also calls for rules that preserve self-custody, recognize the difference between centralized firms and decentralized protocols, and treat tokenization as an efficiency upgrade rather than a novel financial product.

          Hearing on bipartisan regulatory effort

          Witnesses at the Digital Assets Subcommittee hearing agreed that Congress needs to create a framework that clarifies regulations and classifications for the industry.
          Ryan VanGrack, Coinbase’s vice president of legal, told lawmakers:
          “More than 52 million Americans, one in five adults, now own digital assets.”
          VanGrack said that the current ambiguity in rules leads to loopholes and gaps that are exploitable by bad actors. Former Commodity Futures Trading Commission (CFTC) chair Rostin Behnam, now a Georgetown fellow, echoed the sentiment and added that the non-security segment “still lacks a market structure regime.”
          Both described a traditional hierarchy of customer, broker, exchange, clearinghouse, and custodian that can migrate to crypto with minimal change.
          Greg Xethalis, general counsel at Multicoin Capital, warned that unclear guidance pushes founders and capital overseas and forces US start-ups to “get a law-firm opinion to launch” even simple projects.
          Sarah Hammer of the Wharton School pointed to Singapore’s licensing model and strict anti-fraud standards as proof that clear obligations can coexist with innovation.

          Consumer safeguards and regulatory coordination

          The principles sheet proposes innovation-friendly registration for intermediaries, right-sized capital and segregation rules, and explicit bankruptcy protection for customer assets. Behnam called segregation the “number-one issue” for user protection.
          The senators also endorsed a targeted anti-money laundering package that extends the Bank Secrecy Act and IEEPA tools to offshore entities that interact with US users, mirroring points raised by Hammer on the need to deter fraud without stifling compliant activity.
          For federal agencies, the plan recommends safe-harbor pilots, no-action letters, and inter-agency coordination to avoid duplicative exams. The language echoes VanGrack’s view that the United States can “do better” than a patchwork of enforcement actions.
          Senator Hagerty cited last week’s 51-23 GENIUS Act vote as evidence that bipartisan momentum exists. Lummis, who co-sponsors a comprehensive bill with Senator Kirsten Gillibrand, urged colleagues to keep that bipartisan channel open despite political friction.
          Committee members also pressed witnesses on practical benefits. Xethalis argued that decisive legislation would prevent Europe from setting global norms, as occurred with internet commerce rules, and would forestall a replay of the lag in 5G and semiconductor leadership.
          Senator Angela Alsobrooks inquired about tangible benefits for households. Speakers highlighted lower settlement costs, faster remittances, and new credit rails.

          Path to draft text

          Staff will now translate the principles into statutory language that assigns the Securities and Exchange Commission authority over asset fundraising and the secondary trading of securities tokens. At the same time, the CFTC would supervise commodity tokens and derivative products.
          Lawmakers indicated that customer asset segregation, capital requirements scaled to risk, and a tailored exemption for token sales will form the foundation of the draft.
          The next step is to finalize a market structure law, which would join a similar proposal introduced by House Republicans on May 5.

          Source: Cryptoslate

          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
          Add to Favorites
          Share

          US Bond Market Braces for Surge in Treasury Supply in Second Half

          Manuel

          Bond

          Political

          The bond market is bracing for up to $1 trillion of additional U.S. Treasuries supply in the second half of the year once lawmakers address the looming debt ceiling problem, possibly permanently, top rates strategists said on Tuesday.
          Any new issuance will likely be focused on shorter-dated debt including bills.
          With the flood of Treasuries, market participants are left to wonder: who is going to buy them all? Treasury issuance is meant to address the U.S. government's huge fiscal deficit.
          President Donald Trump's sweeping tax-cut and spending bill would lead to a larger-than-expected $2.8 trillion increase in the federal deficit over the decade, despite a boost to U.S. economic output, the nonpartisan Congressional Budget Office projected.
          The U.S. Senate could vote on Friday on Republicans' tax and spending measure, said Treasury Secretary Scott Bessent on Tuesday, and he was confident the House would then pass that version.
          "We are just about to go through a level shift," said Mark Cabana, head of U.S. rates strategy at BoFA Securities, during a panel discussion on Tuesday at the Money Fund Symposium in Boston. "You're going to see this big issuance clip and it's coming within the next few months. You can debate exactly when they raise the debt limit, but the X-date is coming soon."
          Bessent had said that the so-called X-date when the government would exhaust remaining borrowing capacity under the federal debt ceiling would come sometime during the mid-to-late summer. When the debt ceiling is reached the Treasury is unable to increase borrowings, but if it is lifted or eliminated, the government can then issue more debt.
          Cabana's forecast is for new supply of Treasuries to hit $1 trillion by the end of the year. Gennadiy Goldberg, head of U.S. rates strategy at TD Securities, also expects an increase of nearly $1 trillion in issuance this year, with about $700 billion supply in August and September.
          A surge in Treasury supply could increase repurchase, or repo rates, which refer to the cost of borrowing short-term cash using Treasuries or other debt securities as collateral. Higher Treasury supply typically saturates the market with additional collateral, which can initially lower repo rates due to excess supply. However, if supply exceeds demand substantially, it may lead to higher repo rates as lenders demand more compensation for holding larger volumes of securities.
          Goldberg thinks this year's supply will be concentrated on the front end of the Treasury curve - the two-year to the seven-year sector.
          "Our expectation is that the Treasury keeps issuance focused on the very front end of the curve in terms of coupons. We're not expecting auction size increases until the middle to end of next year, so August or November of 2026, and we don't expect any increases in the long end either," Goldberg said.
          "In fact, I wouldn't be surprised if there are some decreases in size on the long end, but twos, threes, fives, sevens, that's where the Treasury is going to really look to finance themselves, not 10s, not 20s, not 30s. So it's really that and bills."
          Adding to Goldberg's point, Ian Lyngen, head of U.S. rates strategy at BMO Capital Markets. noted that the U.S. Treasury has become so market-sensitive that it is willing to pull back on longer-term issuance if it leads to volatility in yields.
          It is not just the Treasury Department that has been more cognizant of the market's reaction, he said, but also Japan's Ministry of Finance and the UK.
          Money market funds, whose assets hit a record $7.4 trillion in June, are well positioned to absorb part of that Treasury supply, the strategists said. However, there has been a modest shift recently away from Treasuries by these money funds and into private repo transactions because of the latter's higher rates.

          Source: Reuters

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          Trump Casts Doubt on Mutual Defence as he Flies to Europe for NATO Summit

          Manuel

          Political

          President Donald Trump cast doubt on Tuesday over the United States' commitment to defending its NATO partners, suggesting there were "numerous" definitions to the cornerstone of the alliance's mutual defence pact.
          Trump was speaking to reporters en route to a NATO summit in the Netherlands, a two-day gathering which is intended to signal to Russian President Vladimir Putin that NATO is united, despite the U.S. president's past criticism, and determined to expand and upgrade its defences to deter any attack from Moscow.
          However, pressed by reporters on Air Force One over whether he remained committed to mutual defence among allies as set out by NATO's Article 5, Trump responded:
          "I'm committed to saving lives. I'm committed to life and safety. And I'm going to give you an exact definition when I get there."
          NATO Secretary General Mark Rutte played down the comments. "I have no doubt that the U.S. is totally committed to NATO, totally committed to Article 5," he told reporters at the summit venue in The Hague.

          NATO'S RUTTE HAILS TRUMP'S 'DECISIVE ACTION IN IRAN'

          Trump also posted a screenshot of a message from Rutte congratulating him on his "decisive action in Iran" and getting all NATO allies to agree to spend more on defence.
          "Europe is going to pay in a BIG way as they should, and it will be your win," Rutte's message read, indicating the effort he has put into keeping on the right side of Trump and ensuring the summit is a success.
          The summit and its final statement will be focused on heeding Trump's call to spend 5% of GDP on defence - a significant jump from the current 2% goal. It is to be achieved both by spending more on military items and by including broader security-related spending in the new target.
          Trump singled out Spain for criticism after Spanish Prime Minister Pedro Sanchez declared Madrid did not need to meet the new spending target.

          TRUMP SET TO MEET ZELENSKIY

          Trump is expected to meet Ukraine's President Volodymyr Zelenskiy for talks during the summit. Zelenskiy has said he wants to discuss substantial purchases of weaponry including Patriot missile defence systems as well as sanctions and other ways to put pressure on Putin.
          Zelenskiy warned European NATO members on Tuesday that they risked being attacked by Russia if it was not defeated in Ukraine.
          "Russia is even planning new military operations on NATO territory – meaning your countries," Zelenskiy told a defence industry event on the sidelines of the summit, hours after Russian missiles killed at least 17 people in southeast Ukraine.
          Zelenskiy said it was essential that Ukraine lead in drone technology, which has shaped the battlefield and developed at breathtaking pace in the 40 months the war has lasted so far.

          RUSSIA CRITICISES NATO'S SPENDING BOOST

          The Kremlin accused NATO of being on a path of rampant militarisation and portraying Russia as a "fiend of hell" in order to justify its big increase in defence spending.
          Russia has cited its neighbour's desire to join the U.S.-led transatlantic defence pact as one of the reasons why it invaded Ukraine in 2022.
          NATO was founded by 12 Western countries in 1949 to resist the threat from the communist Soviet Union.
          Russia denies any plan to attack the alliance, which now boasts 32 members, but Kremlin spokesman Dmitry Peskov said it was "largely a wasted effort" to assure the grouping of this because it was determined to demonise Russia.
          "It is an alliance created for confrontation ... It is not an instrument of peace and stability," he said.

          Source: Reuters

          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
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          Oil Drops as Trump Cheers Slide with Iran-Israel Truce Back On

          Manuel

          Middle East Situation

          Commodity

          Oil plunged for the second straight day as US President Donald Trump signaled he wants to keep oil flowing out of Iran after brokering a fragile ceasefire between Tehran and Israel.
          West Texas Intermediate crude plunged by nearly 15% over two sessions to settle near $64 a barrel, while Brent was just above $67. Prices have slumped amid the significant deescalation of a conflict that has rocked the energy-rich Middle East. Trump said in a social media post that China can continue buying Iranian oil and that he hopes the country will also be purchasing “plenty” from the US. Crude fell further as both sides made deescalatory remarks.
          The move is a stark departure from an earlier US strategy of squeezing Iranian energy exports to apply pressure at the negotiating table, a move many investors thought might be contingent on upholding the ceasefire or assurances on nuclear intentions, said Rebecca Babin, a senior energy trader at CIBC Private Wealth Group.
          Crude has declined sharply this week — including a 7% rout on Monday — despite the arrival of a long-feared clash that saw America bomb Iran’s nuclear sites and the Islamic Republic retaliate against US bases in Qatar. While prices spiked in the wake of Israel and America’s initial attacks, the conflict hasn’t had any significant impact on oil flows from the Persian Gulf, and exports from Iran have surged.
          Trump cheered crude’s slide earlier on Tuesday, saying “I love it.”
          Furthermore, the shale boom of the early 2000s has helped to greatly reduce US reliance on Middle Eastern oil, blunting the impact of a conflict in the region on energy prices. The initial price surge has instead presented a major opportunity for domestic producers to lock in higher prices, with swap dealer positions in US crude futures climbing to the most on record last week.
          The latest price slump brings the market back to where it was before Israel attacked Iran on June 12. Traders are now refocusing on a looming surplus later in the year, with a supply surge from producers both inside and outside the OPEC+ alliance set to outpace growth in demand. The pullback also offers a fresh reminder that geopolitical disruptions to crude prices can ultimately be short-lived.
          “The geopolitical risk premium built up since the first Israeli strike on Iran almost two weeks ago has entirely vanished,” said Tamas Varga, an analyst at brokerage PVM. “There are growing hopes that investors will be able to focus on economic policies instead of geopolitics.”
          A sustained market retreat may alleviate fears about elevated inflation, fulfilling one of Trump’s key aims. Still, cheaper crude dents the economies of producer nations, particularly in the Middle East, and may refocus discussions around the financial health of major oil companies.
          In another sign of waning supply fears, Brent’s prompt spread — the difference between its two nearest contracts — narrowed to about 97 cents a barrel in backwardation. While that’s still a bullish pattern, with nearer-term prices above those further out, it’s down from last week’s closing peak of $1.77. The key December-December spread fell back into contango — the opposite, bearish pricing structure.
          In wider energy markets, European natural gas fell by as much as 13% as fears of disruptions to traffic through the Strait of Hormuz — a conduit for 20% of seaborne gas shipments — started to fade.
          The Mideast crisis erupted about two weeks ago as Israel attacked Iran in a bid to eradicate its nuclear program, decimate its leadership and degrade its military, with Tehran firing missiles in reply. In a major escalation, Trump ordered a strike against the Islamic Republic’s nuclear sites, prompting Iran to launch a limited missile salvo against a US airbase in Qatar.

          OPEC+ Supply

          The OPEC+ alliance — which includes Iran — has been reactivating idled capacity at a rapid clip in a bid to recapture market share. The group is due to hold a video-conference July 6 to consider a further supply hike in August.
          “In a week and a half, OPEC+ will agree to increase production by another 400,000 barrels a day,” said Robert Rennie, head of commodity and carbon research at Westpac Banking Corp. “As we move into the third quarter — and global production rises and demand wanes, driving inventory sharply higher — we will see prices probing the lower end of the previous $60-to-$65 range.”

          Source: Bloomberg

          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
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