This post was originally published on this site.A two-month extension avoids a November tariff cliff, but it gives markets no lasting relief, and the January 10 deadline now becomes the next risk event for trade-sensitive assets. The Australian dollar, as a liquid proxy for China’s growth, is likely to take its lead from progress at the Shenzhen and Miami summits more than from this week’s ceremony. Farm purchases lagging and rare-earth deliveries falling short give Washington grounds to push harder, which keeps risk alive in soybeans and in supply chains that depend on critical minerals. Xi’s push for tougher US...

This post was originally published on this site.The session showed how finely balanced crude is. Houthi strikes added about $5 at the peak, and talk of a Hormuz deal took roughly half of that back within hours. Targeting Yanbu matters more than the headline count suggests: it is Saudi Arabia’s route around Hormuz, so strikes there threaten the main workaround for Gulf supply. After WTI’s 13% drop, short positioning leaves room for sharp rebounds on escalation. A credible phased deal remains the biggest downside risk. Record diesel prices and a possible US limit on diesel exports keep refining margins elevated,...