Brent oil pulled back amid reports indicating that President Trump believed that US was in the final stages of talks with Iran.
The move is strong, but the market remains range-bound. The range is wide, and prices are moving back and forth as traders react to headlines.
If US and Iran do not reach a deal, the physical deficit will likely push prices out of the current trading range.
There's a true panic in Japanese bond markets as traders focus on the financial stability of the country. At this point it is obvious that the situation is out of control.
USD/JPY is trading near the 159.00 level as traders are cautious: BoJ has already intervened several times and may provide support to the yen again in case USD/JPY crosses the 160.00 level.
However, the major move in Japanese bond markets may have a material impact on USD/JPY. At this point, rising yields have not attracted buyers, so USD/JPY may move even higher. When yields reach a point when the market believes that investors are properly compensated for the risk, demand for the Japanese yen will grow, putting pressure on USD/JPY.
This is not a technical analysis. But an assessment of what just happened.
Per its latest SEC filings, Goldman Sachs fully exited its XRP ETF exposure in Q1 2026 after previously disclosing about $153.8 million in spot XRP ETF positions at the end of Q4 2025.
IMHO, Goldman’s XRP ETF holdings could have reflected trading desk / market-making / client facilitation activity, rather than a long-term directional bet on XRP. So the exit could mean the facilitation trade ended, client demand faded, or the desk reduced inventory after XRP’s drawdown.
Nonetheless, it fuels the downside thesis of our moderator CaptainTrader32: https://www.reddit.com/r/Market_Forecasts/comments/1t3b8cm/xrp_bounce_is_good_but_not_good_enough/
What do you think? Are we going to $1 this summer?
WTI oil gained 3.5% as President Trump rejected Iran's offer and noted that he wanted a better deal.
Oil prices are moving higher, but it looks that the market is skeptical about a potential restart of the military operation against Iran. Today's inflation report showed that inflation rate increased to 3.8%, exceeding the analyst estimate of 3.7%.
Trump has already started to talk about a gasoline tax holiday, which indicates that high gasoline prices, which were triggered by the Iran war, have become a political problem.
In addition, it looks that current price levels have already started to put pressure on global demand. WTI oil will remain volatile in the near term, but it will surely need strong catalysts to get out of the current trading range.
Silver markets are showing signs of life as traders prepare for the potential peace deal in the Middle East.
Gold/silver ratio is at multi-week lows, which shows that speculative money has already started to move into silver.
Technically, silver will likely need to get above the $84-$86 area to confirm the breakout.