Trump once again casting China as the enemy - you can expect more of this right through to the November election.
Trump via tweet, here it is:
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Pipeline revival! Expect 1M bpd oil boost. Traders watch energy sector gains.
Reuters poll: RBA to hike 25bps to 4.35% on May 5, say 30 of 33 economists. Over a third now see rates at 4.60%+ by year-end vs none in March. Strait of Hormuz closure keeps oil above $100; CPI at 4.1%.
UAE exits OPEC, boosting output to 5M bpd by 2027. Risks price wars, hurting African producers with higher breakeven points.
Intel's 300%+ rally faces valuation risk; P/E near 90, but AI segment grows 40%.
Japan April manufacturing PMI 55.1 vs 51.6 in March, best since January 2022. Output fastest since Feb 2014 but driven by stockpiling. Supply delays worst in 15 years. Input costs at 3.5-year high. Business confidence near 5-year low.
Antitrust suit blocks Nexstar's $6.2B Tegna deal. States cite consumer harm & job cuts. Merger faces legal hurdles.
Japan's senior currency official Atsushi Mimura refused to confirm or deny reports of yen intervention after the currency breached 160 per dollar, as the BoJ's cautious stance, $120 oil and thin Golden Week liquidity keep the pressure firmly on.
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