πŸ“Š Market Snapshot

  • Spot Gold (XAUUSD): 4031.67, down 0.70%, intraday low 4022.98
  • WTI Crude (USOIL): 78.97, down 0.95%, elevated volatility amid Hormuz Strait tensions

πŸ”₯ Key News This Hour

  1. Iraq Oil Terminals Fully Suspended β€” All Iraqi crude loading terminals halted shipments after a drone struck a tanker at the Basra terminal. Sources report no damage or fire, but the suspension has already raised supply concerns.

  2. Kremlin Issues Multiple Statements β€” Russia expressed concern over the Iran crisis, warning it could harm the global economy. Moscow remains open to peace talks but sees no immediate prospect for their resumption, while thanking Turkey for mediation efforts.

  3. Iran Accuses US of War Crime β€” Iran’s Foreign Ministry claims the Bakai Hospital, a children’s cancer treatment center, was evacuated after US strikes hit nearby locations, calling it a war crime.

  4. New Zealand 6.3 Quake Triggers Tsunami Warning β€” A magnitude 6.3 earthquake struck the Fiordland region, prompting the National Emergency Management Agency to issue a coastal tsunami warning.

  5. Bernstein Lifts ASML Target β€” Price target raised from $2,623 to $2,859, citing sustained AI chip demand.

  6. China Housing Subsidies Expand β€” Over 20 regions have rolled out new housing subsidy policies, with maximum support reaching 300,000 yuan, as stabilization efforts intensify.

  7. Lithium Carbonate Spot Drops 5,000 yuan/ton β€” Battery-grade lithium carbonate quoted at 144,950 yuan/ton, decline continues.

🧭 Market Assessment

The Hormuz Strait situation is the dominant variable this hour. While the drone-tanker collision caused no physical damage, Iraq’s full suspension of crude loadings carries significant signaling weight.

The IEA had already warned the global economy is “weeks away” from crisis. If the stalemate persists, oil prices may find geopolitical premium support at current levels.

Gold oscillates near 4030, caught between geopolitical risk and USD strength. Near-term direction hinges on US data and Fed official commentary.

TSMC’s strong Q2 results and AI demand extending to 2030 reinforce the semiconductor structural thesis, validated by ASML’s target upgrade.

China’s housing policy continues to escalate, but the lithium carbonate rout reflects ongoing destocking pressure across the new energy supply chain β€” structural divergence is widening.

⏰ Upcoming Data

No major economic data releases scheduled for the remainder of today. Watch for US Housing Starts and Building Permits tomorrow.