In today’s briefing:
- HEW: Playing For Time
- [IO Technicals 2025/25] Bearish Momentum Strengthens
- CX Daily: Project to Beat Back the Sahara Struggles to Take Root, Even With Chinese Expertise
- Indian NR Production Marginally Improves, Consumption Down
- Middle East Fx , June 20th 2025,
HEW: Playing For Time
- US diplomacy with Iran has been given two weeks, bringing it close to the reciprocal tariff deferral date. Both may roll later, while central bankers wait to see the impact.
- Unsurprising UK and EA inflation data offered little direction, nor did the BoE or Fed. Brazil and Norway delivered opposite surprises outside a flood of cautious statements.
- Next week is much quieter for data and decisions (TH and MX). The flash PMIs are the main global highlight, although some HICP and PCE data are notable on Friday.
[IO Technicals 2025/25] Bearish Momentum Strengthens
- Iron ore prices declined due to weakening demand from China, driven by a slump in its property sector, which has kept iron ore demand for steel subdued.
- China’s steel production dropped 6.9% YoY in May amid capacity cuts, with blast furnace utilisation and pig iron output declining, though some furnace restarts may boost production soon.
- Prices remain below key moving averages, indicating continued downward pressure, and the MACD below its signal line reinforces the current bearish trend.
CX Daily: Project to Beat Back the Sahara Struggles to Take Root, Even With Chinese Expertise
- Green / In Depth: Project to beat back the Sahara struggles to take root, even with Chinese expertise
- Caixin Summit /: ‘Massive and Strong’ China now needs to become massive and green, policy adviser says
- Drugs /: Chinese biotech innovators push overseas as sector faces reckoning
Indian NR Production Marginally Improves, Consumption Down
- FY 2024-25 NR production at 875,000 tons, consumption 1.41 mn tons
- Compound rubber imports go up by 44.5% to 245,407 tons in FY 24-25
- Replanting supported primarily by pineapple farming contractors
Middle East Fx , June 20th 2025,
- State of mind ! Back in 1986, Bibi Netanyahu was Israel’s ambassador to the UN.
- He published the proceedings of a conference held in Washington under the title, “ Terrorism, how the West can win !”.
- In short, the book was fostering the impression that Israel’s enemies were also America’s, that the Arabs who used violence against Israel were terrorists, that countries who sponsored violence against Israel were terrorist states, and that brute force against them was not only legitimate but desirable. “ if a government has harboured, trained and launched terrorists, it becomes a legitimate object of military response !”
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