π° Hourly Briefing | 2026-08-11 15:00 CST
Intel completes pricing of $20B common stock offering at $95/share. Hormuz Strait deadlock continues to drive oil higher, WTI up 1.33% to $82.53. Fed's Hammack says multiple rate hikes may be needed, July CPI expected at 3.3% YoY. US federal deficit reaches $1.8T for first 10 months of FY2026. RMB hits 3.5-year high, onshore USD/CNY at 6.7429.
π Market Snapshot
| Asset | Price | Change |
|---|---|---|
| Gold (XAUUSD) | 4365.46 | -0.56% |
| WTI Crude (USOIL) | 82.529 | +1.33% |
| Brent Crude | 88.00+ | +1.25% |
Gold pulled back from intraday high of 4435, profit-taking evident near 4360 level.
Oil strengthened across the board, WTI above $82 and Brent above $88. Dimming Hormuz Strait reopening prospects and Libyan oil facility drone strike continue to fuel supply risk premium.
π₯ Key News This Hour
1. Intel Prices $20 Billion Common Stock Offering Intel (INTC) announced pricing of 210 million shares at $95/share, raising approximately $20 billion, with a 30-day over-allotment option for underwriters. One of the largest U.S. equity offerings in recent months, significant dilution for existing shareholders.
2. Fed’s Hammack: Multiple Rate Hikes May Be Needed Fed official Hammack stated that multiple rate hikes may be necessary to push down inflation, and July employment data won’t change the focus on inflation. Hawkish tone tensions with market rate-cut expectations.
3. July CPI Preview: Vanguard Expects 3.3% YoY Vanguard analyst predicts July headline CPI at +0.1% MoM, +3.3% YoY, with housing costs stabilizing. CPI release imminent, likely a near-term market catalyst.
4. Hormuz Strait Deadlock Persists, Aluminum Up 7th Day Prospects for Hormuz Strait reopening deal increasingly dim, with U.S.-Iran positions hardening. Aluminum prices rose for a seventh consecutive day as Middle East supply concerns spread to industrial metals.
5. Trump Extends Jones Act Shipping Waiver 90 Days Waiver scope narrowed to energy commodities and fertilizers, aimed at easing domestic transport costs. Impacts oil shipping and agricultural supply chains.
6. U.S. Federal Deficit Continues to Widen CBO reports $1.8 trillion federal deficit for first 10 months of FY2026, up $169 billion year-over-year. Deteriorating fiscal trajectory supports long-end Treasury yields.
7. RMB Hits 3.5-Year High Onshore RMB peaked at 6.7429, mid-rate at 6.7884, highest since February 2023. Strength reflects narrowing U.S.-China interest rate differential expectations.
8. Bank of Korea Signals Further Rate Hikes BOK Senior Deputy Governor indicates potential further rate hikes, while noting USD/KRW at 1400 remains “very high.”
π§ Assessment
Oil strength is driven primarily by the Hormuz Strait deadlock rather than demand improvement.
The Libyan oil facility attack adds an additional supply disruption risk premium.
Intel’s $20B offering priced at $95/share will dilute EPS in the near term, likely pressuring the stock.
Fed’s Hammack hawkish stance and CPI preview data will jointly shape short-term rate expectations.
The $1.8T federal deficit scale continues to support long-end Treasury yields; fiscal sustainability concerns cannot be ignored.
RMB strength reflects market expectations of narrowing U.S.-China rate differentials, but subsequent policy guidance warrants attention.
β° Upcoming Key Data
- U.S. July CPI β Market focus, Vanguard expects +0.1% MoM / +3.3% YoY
- FX Option Expiries β Tonight 22:00 Beijing time, multiple >$1B strikes expiring, watch for FX volatility