News feed

The move brings onchain yield and lending to the payments-focused chain in a bid to offer full-stack onchain finance platform to companies building on it.

The bitcoin mining firm continues on its investment path into AI data centers after raising $115 million to expand its global footprint in the industry.

Aschenbrenner is shorting Nvidia and AMD in favor of bitcoin miners that own the electricity and data centers needed to fuel the next phase of the AI boom.

Strategy made a mammoth $2 billion bitcoin purchase last week, but it's not lifting crypto spirits or prices.

The Ethereum co-founder argued that AI-assisted "formal verification" could become one of the most important tools for cybersecurity in a new blog post.

Co-CEO Arjun Sethi said the firm kept investing through market weakness, leaning on acquisitions and futures growth to offset softer spot trading.

XRP gave back gains after a high-volume selloff erased the latest breakout attempt, though buyers stepped back in near support around $1.38.

Bittensor (TAO), down 9.6% over the weekend, joined Bitcoin Cash (BCH) as an underperformer.

The bank said accelerating advances in quantum computing are compressing the timeline for risks to crypto and broader internet infrastructure, with Bitcoin seen as particularly exposed.

The Ethereum treasury firm bought over 71,000 ETH last week, a sharp increase from the previous week's purchases.

Michael Saylor and team added 24,869 BTC last week, bringing total holdings to 843,738 coins.

The bank projects $4 trillion of tokenized assets by 2028, boosting demand for blockchain-native lending and trading infrastructure.

The U.K.’s financial watchdog and central bank unveiled their roadmap for tokenization, the use of stablecoins for institutional settlement and a phased transition toward 24/7 operation.

The bank's offer to acquire the slice of Zodia Custody it doesn't already own has been accepted by the firm's other shareholders and noteholders.

Your day-ahead look for May 18, 2026

Bitcoin and ether sank after the U.S. president told Iran the “clock is ticking,” sending oil higher and triggering broad crypto liquidations.

Your look at what's coming in the week starting May 18.

AI agents and automated payments could reach a scale that crypto monitoring systems built for human-paced markets cannot handle, Elliptic CEO Simone Maini warned.

Japan's economy minister Kiuchi cited strong wage momentum and improving job conditions underpinning a moderate recovery, while pledging nimble government action to address Middle East conflict risks. Earlier:Japan Q1 GDP beats forecasts at 2.1% but Iran war energy shock threatens momentumUSD/JPY on approach to 159! How you left, Ministry of Finance?Summary: Source: Japanese Economy Minister Kiuchi, public remarks, 18 May 2026.Kiuchi described momentum in this year's wage negotiations as strong, with job market conditions also improvingGovernment policy steps are expected to underpin a moderate economic recoveryThe minister called for vigilance regarding the economic impact of the Middle East conflictKiuchi pledged the government would act nimbly while monitoring the conflict's fallout, the effect of rising prices on households, and the impact on broader business activity Japan's economy minister expressed confidence in the country's recovery trajectory on Tuesday, pointing to strong wage negotiation outcomes and improving labour market conditions, while issuing a clear warning that the government must remain alert to the economic risks posed by the Middle East conflict.Kiuchi's remarks came on the same day as the release of Japan's first quarter GDP data, which showed the economy expanded at an annualised 2.1%, beating market forecasts and providing a solid baseline from which to assess the scale of the challenge now facing policymakers.The minister highlighted the momentum visible in this year's annual wage negotiations, a process closely watched in Japan as a barometer of whether the country's long-sought shift to a higher-wage, higher-inflation economic model is taking hold. Improvements in job market conditions were also cited as supporting the case for a continued moderate recovery, with government policy measures expected to provide additional underlying support.However, Kiuchi was careful not to project complacency. He said the government must be vigilant about the potential economic fallout from the Middle East conflict, a formulation that carries particular weight given Japan's structural dependence on oil imports from the region. With the Strait of Hormuz still closed and energy prices elevated, the transmission from global supply disruption to domestic cost pressures is already well underway.The minister pledged that the government would act nimbly in response to developments, singling out three areas of concern: the broader economic consequences of the conflict, the impact of rising prices on Japanese households, and the effect of that price pressure on business activity and investment decisions.The combination of a solid Q1 result, strong wage dynamics and an activist government stance provides some reassurance, but Kiuchi's language on vigilance and nimble response reflects an administration that is fully aware the external environment could deteriorate quickly and that the policy toolkit may need to be deployed at short notice. Japan Diet parliament----Kiuchi's comments add a cautiously constructive official voice to a data day already dominated by the better-than-expected Q1 GDP print, but the emphasis on vigilance and nimble policy response signals Tokyo is not complacent about downside risks from the Middle East. The reference to household price pressures is notable given Japan's acute exposure to energy import costs, suggesting the government is monitoring consumer sentiment closely for signs that the oil shock is beginning to erode the wage-driven recovery narrative. Any government stimulus response aimed at cushioning household energy costs would have fiscal implications and could complicate the BOJ's rate path calculus further. This article was written by Eamonn Sheridan at investinglive.com.

Japan's Q1 GDP grew an annualised 2.1%, beating forecasts of 1.7%, but analysts warn the Iran war energy shock is set to slow growth sharply and could force the BOJ to delay rate hikes.Earlier:USD/JPY on approach to 159! How you left, Ministry of Finance?Summary: Source: Japanese government GDP data and analyst commentary, reported Tuesday 18 May 2026.Q1 real GDP grew an annualised 2.1%, beating the median market forecast of 1.7% and a revised 0.8% gain in Q4Quarter-on-quarter growth came in at 0.5%, above the 0.4% forecastPrivate consumption rose 0.3% against a 0.2% forecast; capital expenditure gained 0.3% against a 0.2% forecastNet external demand contributed 0.3 percentage points to growth, above the 0.2 point forecastThe GDP price deflator ran at 3.4% year-on-year, above the 3.1% expected, matching the prior readingAnalysts warn Q2 growth may turn negative as the Iran war energy shock intensifies, with Japan particularly exposed due to its heavy reliance on Middle East oil importsAnalysts said the economy had buffers heading into the shock but warned severe supply disruption could be damaging enough to prevent the BOJ from raising ratesThe BOJ had been signalling hawkish intent, with markets pricing a meaningful chance of a June rate hike before the conflict's impact became clearerJapan's economy grew faster than expected in the first quarter, but the result is already being overtaken by events as the energy shock from the Iran war threatens to derail the recovery and complicate the Bank of Japan's interest rate plans.Real GDP expanded at an annualised rate of 2.1% in the January to March quarter, government data showed on Tuesday, outpacing the median market forecast of 1.7% and a sharply revised 0.8% gain in the final quarter of last year. On a quarter-on-quarter basis, the economy grew 0.5%, again ahead of the 0.4% consensus estimate.The details were broadly encouraging. Private consumption, which accounts for more than half of Japan's economic output, rose 0.3%, edging above forecasts of 0.2% and matching the prior quarter's pace. Capital expenditure grew 0.3%, also beating expectations, while net external demand contributed 0.3 percentage points to overall growth, above the 0.2 point projection. The GDP price deflator held at 3.4% year-on-year, above the 3.1% forecast, underscoring that inflationary pressure was already building before the full force of the oil shock arrived.The results capture an economy that was, by most measures, on firm footing when Iran effectively closed the Strait of Hormuz in response to US-Israeli attacks at the end of February. That closure sent oil prices surging and triggered fears of severe and prolonged supply disruptions across global energy markets.Japan is among the most exposed developed economies to that shock. The country imports the vast majority of its oil from Middle East suppliers, meaning surging crude prices feed directly and rapidly into fuel costs, corporate margins and consumer prices. Analysts now broadly expect the second quarter to show a contraction, reversing the momentum the first quarter data reflects.Analysts said the solid Q1 result provides some cushion but is no guarantee of resilience. If price rises remain the dominant channel of impact, they say, the economy can likely absorb the shock and resume recovery. If supply disruptions become severe and sustained, however, the damage to growth could be significant enough to close the window for BOJ rate hikes entirely.That scenario presents the BOJ with a dilemma it had not anticipated when it began dialling up hawkish signals earlier this year. Markets had been pricing a meaningful probability of a rate increase at the June meeting, but the darkening growth outlook is forcing a reassessment of whether tightening into a supply-driven slowdown is a risk the central bank is willing to take.---The stronger-than-expected Q1 print gives the BOJ some cover but does little to clarify its path forward given the severity of

The EU is planning rules capping single-supplier sourcing of critical components at 30-40%, forcing firms to use at least three suppliers, with punitive tariffs on Chinese chemicals and machinery also planned.Summary: Source: Financial Times, citing two EU officials familiar with the matter.The EU plans to require companies to source critical components from at least three different suppliers, with no single supplier allowed to account for more than 30-40% of purchasesSectors targeted include chemicals and industrial machinery, both of which have flagged damage from cheap Chinese importsEU Trade Commissioner Maros Sefcovic is separately planning punitive tariffs on Chinese chemicals and machineryThe plan is a response to China's export curbs on key technologies and is at an early stageIt is expected to be presented to a European Commission meeting on China on 29 May, with potential endorsement by EU leaders at a summit the following monthThe rules would not be limited to China, covering materials sourced from other countries including helium from the US and Qatar and cobalt from the DRC and Indonesia The European Union is preparing rules that would require companies operating in the bloc to source critical industrial components from at least three different suppliers, with no single supplier permitted to account for more than 30 to 40 percent of total purchases, as Brussels moves to reduce its dependence on China across key supply chains.The planned regulations, reported by the Financial Times citing two EU officials with knowledge of the discussions, would affect sectors including chemicals and industrial machinery, industries that have been among the most vocal in complaining about the impact of cheap Chinese imports on their domestic businesses. EU Trade Commissioner Maros Sefcovic is also preparing punitive tariffs on Chinese chemicals and machinery as part of a broader package designed to slow the surge of imports from China in those categories.The initiative is framed as a direct response to Beijing's export curbs on key technologies, which have exposed the extent to which European manufacturers rely on Chinese suppliers for components and materials with limited alternative sources. By mandating supplier diversification through binding rules rather than voluntary guidance, the Commission is signalling that market forces alone will not be sufficient to shift procurement patterns at the pace or scale Brussels considers necessary.The plan is at an early stage and is expected to be put before a European Commission meeting focused on China policy on 29 May. If commissioners back the proposals, a formal and detailed legislative package could be ready for endorsement by EU leaders at a summit the following month, suggesting a potentially rapid path to implementation if political support holds.Officials were careful to note that the sourcing rules would not be narrowly targeted at China. The geographic diversification requirement would apply to all critical material imports, capturing helium sourced from the United States and Qatar and cobalt imported from the Democratic Republic of Congo and Indonesia, reflecting a broader ambition to build resilience against single-country concentration risk wherever it exists across European supply chains.-----A 30-40% single-supplier cap across critical industrial inputs represents a structural shift in European procurement that will ripple through chemicals and machinery supply chains well beyond the China relationship. Companies currently running concentrated supply arrangements will face meaningful compliance costs and margin pressure as they build out diversified supplier networks, potentially pushing up input costs across European manufacturing at an already difficult moment. For commodity markets, forced diversification of cobalt, helium and related critical material sourcing adds a demand redistribution dynamic that could benefit alternative supplier nations including Qatar, Indonesia

Westpac's survey of consumer sentiment remains deeply sad. This article was written by Eamonn Sheridan at investinglive.com.

Japan Q1 GDP (preliminary):GDP annualised: +2.1% (vs 1.7% exp, 1.3% prev)GDP quarter-on-quarter: +0.5% (vs 0.4% exp, 0.3% prev)Private consumption Q/Q: +0.3% (vs 0.2% exp, 0.3% prev)Capital expenditure Q/Q: +0.3% (vs 0.2% exp, 1.3% prev)External demand Q/Q: +0.3% (vs 0.2% exp, 0.0% prev)The price index from the GDP results is running hot at 3.4% y/yexpected 3.1%, prior 3.4% alsoI'll have more to come on this separately. This article was written by Eamonn Sheridan at investinglive.com.

New Zealand producer input prices rose 1.4% in Q1 and output prices gained 0.8%, while electronic card retail sales fell 1.3% in April, Statistics New Zealand data showed on Tuesday. Summary: Source: Statistics New Zealand, released Tuesday 18 May 2026.Q1 producer price index inputs rose 1.4% quarter-on-quarter, reversing a 0.5% decline in the prior quarterQ1 producer price index outputs gained 0.8% quarter-on-quarter, up from 0.1% previouslyThe input-output gap signals producers are absorbing a portion of cost increases rather than passing them fully throughElectronic card retail sales fell 1.3% in April on a seasonally adjusted monthly basis, reversing a 0.7% gain in MarchTotal card spending declined 1.6% month-on-month in April, against a prior reading of plus 1.3%On an annual basis, actual electronic card retail sales were up 2.0% compared with April a year earlierElectronic card data covers approximately 68% of core retail sales and is the primary monthly gauge of consumer activity New Zealand's latest economic data presents a challenging picture for policymakers, with producer prices rising sharply in the first quarter even as consumer spending showed signs of fatigue heading into the second.Producer price index inputs climbed 1.4% in the first quarter compared with the previous three months, a substantial reversal from the 0.5% decline recorded in the prior quarter. Output prices, measuring what producers charge for their goods and services, rose a more modest 0.8% over the same period, against a prior reading of just 0.1%. The gap between the two measures is telling. New Zealand producers are facing meaningfully higher costs than they are recouping through their selling prices, a margin squeeze that typically either weighs on business profitability or feeds through into consumer prices with a lag.The input cost acceleration is particularly notable given the global backdrop. Elevated energy prices linked to the Strait of Hormuz closure have pushed up transport and manufacturing costs across import-dependent economies, and New Zealand, with its heavy reliance on imported goods, is not insulated from those pressures. The first quarter data captures only the early weeks of the conflict's impact, suggesting further upward pressure on input costs may still be in the pipeline.On the consumer side, the picture shifted notably in April. Seasonally adjusted electronic card retail sales fell 1.3% from March, reversing the 0.7% gain recorded the prior month. Total card spending, a broader measure, dropped 1.6% month-on-month after rising 1.3% previously. Statistics New Zealand's electronic card series covers around 68% of core retail activity and is the country's principal monthly read on consumer demand, giving the April softness considerable weight.The annual comparison offers modest reassurance, with actual card sales running 2.0% above April a year ago, but the monthly direction of travel will be the more closely watched figure for markets assessing the trajectory of New Zealand household spending into the middle of the year.---The combination of accelerating input costs and a monthly retreat in consumer spending presents the Reserve Bank of New Zealand with a stagflationary undertone that complicates its policy calculus. Input prices rising at 1.4% quarter-on-quarter, following a 0.5% contraction in the prior period, represents a meaningful swing that will feed into the RBNZ's inflation projections. The 1.3% monthly drop in electronic card retail sales, covering roughly two-thirds of core retail activity, suggests the consumer is beginning to feel the squeeze, limiting the case for tightening even as cost pressures build upstream. This article was written by Eamonn Sheridan at investinglive.com.

US President Trump says the number of drugs available on TrumpRx is to be increased by nearly 7 times.Scheme will have more than 600 generics added.This will help many people out. Kudos where its due, well done. This article was written by Eamonn Sheridan at investinglive.com.

US stocks close mixed. Dow closes higher. S&P and Nadaq close lowerFed's Goolsbee; Inflation has got to be front of mind when Warsh starts as chairTrump: Stops the planned attack on Iran on request from Saudi's and UAEJury rules against Elon Musk and for Sam Altman and OpenAI.Japan's Finance Minister Katayama seeing speculative moves in the financial marketsOfficial: Report that US has agreed to lift oil sanctions while talks unfold, are false:European shares close mostly higher on the dayUS Senior Official: US rejects Irans most recent proposalNAHB housing market Index for May 37 versus 34 estimateAl Arabiya: Iran agrees to long-term nuclear freeze in lieu of a complete dismantling.investingLive European markets wrap: A more cautionary mood; US to waive Iran sanctions?US reportedly to temporarily waive Iran sanctions in new draft proposalSilver converges lower with gold on surging real yields amid Fed hikes risk. What's next?Iran submitted a response to an earlier US proposal to end the war through mediator Pakistan, signaling it was focused entirely on ending the conflict but notably not addressing nuclear matters — leaving a significant gap between the two sides.Trump called Iran's response "TOTALLY UNACCEPTABLE," though he did not specify which aspects he objected to. The US Ambassador to the UN said Trump was giving diplomacy every chance before resuming military action, while Netanyahu said there was still work to be done on dismantling Iranian enrichment sites and ballistic missiles.Trump then announced Monday he was calling off a planned attack on Iran scheduled for Tuesday, after receiving personal requests from the Qatari Emir, Saudi Crown Prince Mohammed bin Salman, and UAE President Mohammed bin Zayed Al Nahyan to hold off in order to allow for serious negotiations. The pause is firmly conditional — Trump instructed Defense Secretary Hegseth and Joint Chiefs Chairman General Dan Cain to remain prepared to launch a full, large-scale assault on a moment's notice if an acceptable deal is not reached.The news caused some ups and downs in the market - especially the stock and oil market. The US stocks opened higher but gave up the gains which saw the Nasdaq move down -357 points at the low, the S&P down -55.32 points at the low and the Dow down -173.01 at the low. However, by the close, the prices had rebounded. The final numbers show:Nasdaq -134.41 or -0.51% at 26090.73.S&P index -5.45 points or -0.07% at 7403.04Dow industrial average +160.02 points or 0.32% have 49690.96Crude oil prices also rode the wave of news headlines and had a trading range near seven dollars. The low for the day reached $98.60 while the high extended to $105.21.The price is trading at $102.48 – still of on the day but nearly 3 dollars off the high price.US yields were also volatile with the gains being raised as oil fell and the USD declined. At the end of day2 year yield 4.045%, -3.8 basis points5 year yield 4.235%, -2.3 basis points10-year yield 4.581%, -1.0 basis points30 year yield 51124%, -0.4 basis pointsIN the forex the greenback was lower versus the major currencies:EURUSD: The EURUSD extended to fresh session highs in the final hours of trading, reaching 1.1660 and moving above the prior target at 1.16551. That breakout shifts the focus higher, with the next key upside target coming against the falling 100-hour moving average at 1.1674. Above that, traders will look toward the 200-day moving average and the broken 38.2% retracement level near 1.1681.On the downside, former resistance between 1.1637 and 1.1646 is now expected to act as support. Staying above that zone keeps the buyers more in control heading into the new trading day.USDJPY: The USDJPY traded in volatile back-and-forth fashion, moving up, down, back up again, and then lower into the close. The pair stalled twice near 159.08, establishing that level as a key resistance ceiling for buyers.On the downside, support developed near 158.56–158.59, defined by the e

Goldman Sachs cuts its 12-month US recession probability to 25% from 30%, with chief economist Jan Hatzius citing resilient activity and easing financial conditions despite the Strait of Hormuz closure.Summary:US recession probability cut to 25% from 30%, with economic activity holding up and financial conditions easing back below pre-war levelsThree factors cited for the moderate growth impact: oil prices rising less than feared, demand destruction absorbing physical shortages, and supportive fiscal policy, AI momentum and financial conditionsHigh pre-war inventories and market confidence that extreme consumer price rises would force a US policy shift have capped the oil price responsePhysical shortages in jet fuel and similar products have been met via a large shift to renewables in China and reduced schedules on lower-value flight routes globallyGoldman's baseline assumes the Strait of Hormuz reopens gradually, beginning soon and completing in late June, with Brent seen stable near term before dipping to $90 per barrel by year-endHatzius flags that risks remain tilted toward worse outcomes, including higher oil prices and greater economic damageGoldman Sachs has trimmed its estimate of the probability of a US recession within the next 12 months to 25%, down from 30%, as evidence mounts that the global economy has absorbed the shock of a 10-week closure of the Strait of Hormuz with less damage than many feared.Chief economist Jan Hatzius pointed to the resilience of economic activity and noted that Goldman Sachs Research's financial conditions index has now eased back below the levels recorded before the conflict with Iran began. That reversal is a meaningful signal. Financial conditions tightened sharply in the early weeks of the crisis but have since normalised, reducing one of the most direct transmission channels through which geopolitical shocks typically slow growth.Hatzius identified three distinct reasons why the Hormuz closure has so far proved less economically destructive than anticipated. First, oil prices have not surged as aggressively as pre-conflict models would have suggested. Two factors explain that relative restraint: crude inventories were unusually high heading into the conflict, providing a meaningful buffer, and markets never fully priced in the worst-case supply scenario because traders consistently expected that severe consumer price increases would eventually force a shift in US policy.Second, physical shortages in refined products, most notably jet fuel, have been absorbed through what Hatzius describes as relatively low-cost demand destruction. China has accelerated its already rapid shift toward renewable energy sources, and airlines have trimmed schedules on routes where yield and load factors make continued flying uneconomic. Neither response has generated the kind of acute economic disruption that a hard supply cliff would have triggered.Third, the broader macro backdrop has remained supportive. Fiscal policy has continued to provide a cushion, the artificial intelligence investment boom has kept business spending buoyant, and financial conditions, apart from a brief tightening episode in March, have been accommodative throughout the year.On the oil price outlook, Goldman's baseline projects Brent to hold steady in the near term before gradually declining to $90 per barrel by year-end. That forecast rests on the assumption that the Strait of Hormuz begins reopening shortly and that the process completes by late June. Hatzius was careful, however, to note that the distribution of risks around that base case is not symmetric. The balance of probabilities, in Goldman's view, still tilts toward higher oil prices and greater economic damage rather than a smoother resolution.---Goldman's revised recession probability and a relatively benign Brent forecast will offer some reassurance to risk assets, but the bank's own warning that outcomes remain skewed to the downside keeps a meaningful tail risk p

President Trump has called off the war dogs. Trump was to meet with the War cabinet tomorrow regarding the next attack on Iran, but Trump is posting that the Crown Prince of Saudi Arabia and the Pres. of the UAE, asked him to hold off on the planned military attack citing serious negotiations are now taking place. Crude oil is back down to $102.37 currently. That is down from $105.21. The price is still above the 100 hour MA at $101.23 and the 200 hour MA at $98.92. There is a swing area between $97.34 to $98.58 as well. Get below those levels and stay below, and we can talk about the potential for more selling. The Nasdaq index has seen a bounce off the lows, but the Nasdaq and the S&P still remain down on the day. The S&P is down -30 point or -0.41% at 7379. The Nasdaq is down -233 points or -0.89% at 25996. The lows were at 7353.17 and 25867.30. for each of those indices. This article was written by Greg Michalowski at investinglive.com.

The jury ruled against Elon Musk against Sam Altman and OpenAIJury unanimously dismissed Elon Musk’s lawsuit against OpenAI and Sam Altman. Case was thrown out because the claims were filed after the statute of limitations expired. Jury deliberated for less than two hours. Musk alleged OpenAI “stole a charity” by shifting from nonprofit to for-profit. OpenAI argued Musk knew about and supported the for-profit structure. OpenAI claimed Musk turned against the company after failing to gain control. Musk’s legal team said it reserves the right to appeal. Musk sought removal of Sam Altman and Greg Brockman from leadership roles. Musk also sought reversal of OpenAI’s governance changes and more than $180 billion in damages. Trial highlighted growing rivalry among major AI firms including OpenAI, Anthropic, and Musk’s AI venture. OpenAI is pursuing a future public listing while Anthropic has gained momentum in the AI race. Musk is reportedly working toward a public offering tied to SpaceX and his AI business. Musk attorney Steven Molo said multiple witnesses called Altman a liar under oath. OpenAI attorney William Savitt said Musk resorts to lawsuits instead of competing in AI. Witnesses included Microsoft CEO Satya Nadella, Mira Murati, Ilya Sutskever, and Shivon Zilis. Trial revealed internal OpenAI documents tied to the company’s founding and the 2023 “blip” when Altman was briefly fired and reinstated. Greg Brockman testified his OpenAI stake is worth nearly $30 billion.Both Musk and Altman have IPOs on their mind now. This article was written by Greg Michalowski at investinglive.com.

Japan's finance minister Katayama says:Seeing speculative moves in the financial marketsvolatility in oil prices is affecting Forex marketTold G7 we needed to take action to correct global imbalances. We need to address risks regarding MythosTold G7 that we should be united against China's export control of critical materials. Need to closely monitor financial marketsNo comment on whether Japan intervened in the FX market. Japan will take appropriate action against Forex volatilityThe USDJPY remains near the middle of the 158.00 – 160.00 swing area that confined most of the trading going back to March 11 through April 29. Since the tumble lower on April 30 on speculation of intervention, the price remained below that area until last Thursday. On Friday the price based against the high of a swing area near 158.23, and today the moment took the price up to a high of 159.08.Traders will be looking for a break either of the 160.00 level on topside or a break below support at 158.00 on the downside This article was written by Greg Michalowski at investinglive.com.

Earlier reports suggesting the United States had agreed to lift oil sanctions while negotiations continue have now been denied by a U.S. official, helping reverse the sharp selloff seen earlier in crude oil trading. The clarification quickly shifted sentiment back toward tighter supply concerns and renewed buying interest in the energy market.As a result, crude oil prices have rebounded strongly and are now trading up around 2% on the day near $103.00. Earlier in the session, prices had fallen sharply to a low of $98.60 as traders reacted to the initial headlines. However, that decline stalled at a key technical support zone.The low price held near the 200-hour moving average at $98.88 and just above the 50% midpoint of the trading range from the April high, which comes in at $98.30. Buyers leaned against that support area, helping stabilize the market and keeping the broader bullish bias intact.Momentum shifted more firmly back to the upside after the price moved back above the 100-hour moving average at $101.17. That break gave buyers renewed control from a short-term technical perspective and opened the door for a retest of today’s high at $104.37.If buyers can push above that level, traders will next target a downward-sloping trend line that currently comes in near $105.85. A break above that trend line would strengthen the bullish technical picture further and could lead to another extension higher in crude oil prices.Buyers remain more in control technically. This article was written by Greg Michalowski at investinglive.com.

Axios is reporting:US rejects the most recent proposal from IranWhite House considers it not to be a meaningful improvement Iran not making meaningful concessions on its nuclear program.Calls the improvements only "Token improvements" on the last version.US senior official says that " We are not making a lot of progress. We are at a very serious place today. The pressure is on them to be responsive in the right way" The squeeze continues. Crude oil is trading sharply higher, with the July contract up $1.76, or 1.74%, at $102.84. The session has been volatile, with prices trading as low as $98.60 before surging to an intraday high of $104.37 as geopolitical tensions and supply concerns continue to support the market.Meanwhile, US Treasury yields are also edging higher, although the gains remain modest. The 10-year yield is currently up 0.6 basis points at 4.601%, holding near the highest levels going back to May 2025 as traders continue to balance inflation concerns against slowing growth expectations.In the foreign exchange market, the US dollar is ticking modestly higher in trading today, but it still remains mostly lower versus the major currency pairs overall. Leading the gains against the greenback is the GBPUSD, which is up 0.51%, while the NZDUSD is also showing solid strength with a rise of 0.36%. This article was written by Greg Michalowski at investinglive.com.

Prior month 34NAHB housing index rises 3 to 37 vs 34 estimateSales conditions rose by +3 to 40Buyer Traffic was also up +3 to 25Sales expectations rose +3 to 45.The latest NAHB Housing Market Index survey showed builders were slightly less aggressive on outright price cuts in May, with 32% reducing prices versus 36% in April. However, the average discount increased to 6% from 5%, suggesting that while fewer builders are cutting prices, those who are may be offering deeper reductions to attract buyers.Meanwhile, the use of sales incentives remained elevated at 61%, up slightly from 60% in April. That marks the 14th straight month in which at least 60% of builders have used incentives, underscoring continued pressure on the housing market from affordability challenges and softer buyer demand.Levels below the 50 level are still considered contractionary despite the gains on the month and values better than expectations.NAHB Chairman Bill Owens, a home builder and remodeler from Worthington, Ohio said:“The housing market remains soft as higher mortgage rates, rising gas prices and economic uncertainty related to the war in Iran continue to dampen buyer demand. However, efforts in the House to modify the 21st Century ROAD to Housing Act could increase the nation’s housing supply and help ease builder concerns.”NAHB Chief Economist Robert Dietz added:.“Recent increases for long-term interest rates will continue to hold back home buyer demand. Although some regional markets, including parts of the Midwest, are showing relative strength, the housing market continues to face significant affordability challenges.”Derived from a monthly survey that NAHB has been conducting for more than 40 years, the NAHB/Wells Fargo HMI gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor. This article was written by Greg Michalowski at investinglive.com.

erAl Arabiay is reporting:Iran agrees to a long-term nuclear freeze in lieu of a complete dismantlingThey have withdrawn demand for compensation. Instead demanding economic concessionsWould like to transfer enriched uranium to Russia instead of the USSeeking multiple international guaranteesWant a gradual and safe opening of the Strait of HormuzA solution comes with dialogue. Of course the "Long term nuclear freeze instead of a complete dismantlement" is a key phrase. What does that mean specifically?. How is it monitored? Or is it too much like Obama's JCPOA and therefore a non-starter for Trump.Crude oil has moved lower and trades near $99, down over $2 or 2%. Getting and staying below $100. Stocks have moved higher with the Dow now up 91 points in pre-market trading, S&P is up 24 points and the Nasdaq is up 160 points. This article was written by Greg Michalowski at investinglive.com.

Headlines:US reportedly to temporarily waive Iran sanctions in new draft proposalIran's ForMin Spokesperson says process of talks through Pakistani mediation is ongoingIEA chief warns that commercial oil inventories are depleting rapidlyGold remains under pressure amid worries of Fed rate hikes, prolonged US-Iran stalemateSurging bond yields are a major pain point for equities at the momentJapan government likely to issue fresh debt to fund extra budget - reportBOE policymaker Breeden says no need to rush in taking next policy stepBoE's Greene: We should not be looking through negative supply shocksMarkets:WTI crude down 0.2% to $100.80 on the dayS&P 500 futures down 0.2%, DAX up 0.7%, CAC 40 down 0.4%US 10-year yields at 4.58%, France 10-year yields at 3.95%, Germany 10-year yields at 3.16%US dollar slightly lower across the board after trading little changed early onGold up 0.3% to $4,553Bitcoin down 1.2% to $77,290It was a quiet session for the most part as the US-Iran conflict drags on for another day/week. It now 80 days since the war started, in case anyone is counting.For the most part, risk trades were more cautious during the session as we saw a more defensive mood in Asia trading. That persisted until moments ago, where we got a report from Iranian media that the US is set to propose a temporary waiver to oil sanctions as both sides look to negotiate further.It's a bit of a concession on the part of Washington but we will have to wait to see how credible the headlines are later today. Oil prices were keeping higher for most of the session, with WTI crude (July contract) seen at $102.30 before falling off to $100.80 now after the headlines.For now at least, it is helping to alleviate some pressure off risk trades. S&P 500 futures were down by as much as 0.6% earlier on but briefly pared losses on the news before holding down by 0.2% currently.In Europe, it's a mixed mood with the DAX seen up 0.7% while the CAC 40 is down 0.4% on the day. This comes as the pressure continues in the bond market after the selloff on Friday. France's fiscal worries are starting to rear their ugly head again with 10-year yields there hitting near 4% at the end of last week.While the rout in the bond market is easing off a little, we are still seeing yields keep at the highs. And that continues to apply pressure to the overall risk mood in markets so far today. 10-year yields in the US are at 4.59% with 30-year yields at 5.12% currently - both keeping at one-year highs.In the major currencies space, the dollar is down slightly at the balance after a steadier start to the week. EUR/USD is up 0.2% to 1.1640 while USD/JPY is flat at 158.80 on the day. Meanwhile, AUD/USD is up 0.2% to 0.7160 with the mood helped by the headlines involving the temporary sanctions waiver above.As for precious metals, we are seeing gold and silver recover off early lows in Asia with the former up 0.3% to $4,553 and the latter up 0.5% to $76.30 on the day. This article was written by Justin Low at investinglive.com.

This is coming from the Iranian camp, as reported by Tasnim News agency. THe report says that the US has agreed to propose a temporary waiver of Iran oil sanctions during negotiations, with this set to be administered via a temporary OFAC exemption until a final agreement is reached between both sides.Iran is trying to push for all sanctions to be removed but so far, the report suggests that the US is only willing to go this far.S&P 500 futures briefly erased losses but is now back down by 0.2% on the day. Meanwhile, we are also seeing the dollar lose a bit of ground while oil prices are being knocked lower. WTI crude (July contract) is now down 0.2% to $100.85 on the day but fell to as low as $100.16 moments ago. It was trading around $102.30 levels before the headlines came about. This article was written by Justin Low at investinglive.com.

Release of strategic oil reserves have added 2.5 million bpd to the marketHowever, they are not endlessThere is a perception gap between the physical oil market and futuresCommercial oil inventories are depleting rapidly, only a few weeks leftThis continues his warning from last month, in saying that Europe could run out of jet fuel in about six weeks. So, we're starting to push towards the edge of the situation caused by the Middle East conflict now.Even if it may not be entirely evident, make no mistake that global oil inventories are falling at a record pace.The point about there being a "perception gap" between physical prices and futures is a key fact that market players might not be factoring in. That especially if you consider how calm investors in the equities market have been, that is before the bond market blew up towards the end of last week.Still, not everyone shares the same view as the IEA chief though.A couple of energy firms and even the likes of Air France and British Airways have announced that they have enough supplies to last through the summer. And that means covering the peak travel season that will typically see take place in the months ahead.One energy consultant is also quite optimistic about the situation, arguing that the release of strategic inventories by the IEA will help to cover about 34% of Europe's jet fuel supply deficit that was seen during last year. Meanwhile, the rest of the gap can be filled by increased imports from the likes of the US and Nigeria. More on that from the FT here (may be gated). This article was written by Justin Low at investinglive.com.

Iranian and Omani technical teams met last week in Oman to negotiate a mechanism for safe transit in the Strait of HormuzProcess of talks through Pakistani mediation is ongoingBoth Iran and the US have sent their comments on the recent Iranian proposalTehran's demands in negotiations with the US include releasing Iranian frozen funds and lifting sanctionsIran’s foreign ministry says that indirect diplomatic channels with the US remain active despite recent escalations. Iranian and Omani technical teams held meetings in Oman last week to negotiate a dedicated mechanism aimed at securing safe transit through the critical chokepoint of the Strait of Hormuz. Alongside these maritime security talks, Tehran clarified that the broader process of dialogue is traversing a very difficult course through Pakistani mediation, with both the US and Iran having officially exchanged formal comments and counter-proposals regarding recent framework for peace. Trump issued a warning on Truth Social, declaring that the clock is ticking for Iran and urging the country to move fast to secure a deal or face total devastation. The White House has previously labeled Iran’s proposal, which demands an end to the naval blockade of the Strait of Hormuz, the lifting of broad economic sanctions, release of frozen funds and guarantees against future attacks, as totally unacceptable. US's own strict parameters demand that Iran surrender its stockpile of highly enriched uranium and accept a multi-decade enrichment moratorium, exposing massive deadlocks that the Pakistani mediators are struggling to bridge.This stalemate is now starting to weigh on global financial markets. We saw a sharp surge in US Treasury yields on Friday, well past their previous March highs. Market participants price in persistent inflation risks, with risks of the Fed being forced to hike rates at some point. We have now 50% chance of a rate hike expected by year-end. This article was written by Giuseppe Dellamotta at investinglive.com.

This just means that the fiscal worries will continue to mount, adding to the already damaging reputation for the yen currency amid the Takaichi trade from before.The report says that the Japanese government is likely to issue fresh debt as part of its funding for a planned extra budget. This budget is largely to help to cushion against the economic blow from the fallout amid the Middle East conflict.The mounting speculation of this extra budget is already hitting at markets, with 10-year Japanese bond yields hitting 2.80% earlier today with 30-year yields rising to briefly clip a record 4.20% level.The extra budget is said to focus on subsidies such as gasoline and utility bills, to help with households. That considering Japan has been hit hard by the surge in oil prices, having to be heavily reliant on fuel imports.For now, there's no word on what the size of the extra budget will be. However, just the fact alone that a fresh round of debt will have to be issued is another blow to the Takaichi administration. Since taking over last year, she already had to do so much work to convince markets that her government is still on a responsible fiscal path. And then now, we're seeing this.It certainly does complicate things back home, especially the political ramifications. And this is not yet to address the economic damage done to Japan as the US-Iran war continues to rage on.It is expected that the extra budget will be compiled around June or July. And this certainly does complicate things for the BOJ as well.The central bank is under pressure to raise interest rates amid surging price pressures, but don't want to seem desperate in deciding on that just to defend a falling yen currency.But at the same time, fiscal concerns and worsening economic conditions are two major pain points that the BOJ has to try and help balance out as well. So, they are put in a very tough spot.I don't see how in any which way that the rout in the Japanese bond market will stop. There is a good chance that 10-year yields will look to 3% and that bodes very ill for the outlook of the yen currency - more so than it already is. This article was written by Justin Low at investinglive.com.

EUROPEAN SESSIONIn the European session, as it's usually the case for Mondays, we don't have anything on the agenda. Markets will likely stay rangebound or extend the risk-off moves that started on Friday. The focus remains on the US-Iran stalemate as we enter the 12th week since the Strait of Hormuz got closed. Both parties remain adamant on their conditions, which raises the risk of a longer deadlock or even a resumption of hostilities. AMERICAN SESSIONIn the American session, we just have the US NAHB Housing Market Index. Housing data haven't been market-moving releases this cycle. The market is now more concerned about the length of the Strait of Hormuz closure and the Fed potentially being forced to hike at some point.CENTRAL BANK SPEAKERS07:35 GMT/03:35 ET - BoE's Greene (hawkish - voter)08:30 GMT/04:30 ET - BoE's Mann (neutral - voter)12:30 GMT/08:30 ET - Fed's Venable (neutral - non voter) This article was written by Giuseppe Dellamotta at investinglive.com.

The risk mood is looking rather dour as we look to get into European trading later. The US-Iran conflict continues to drag on, with no real progress over the weekend. And that is making for a very dicey start to the new week today.Iran is now charging a toll for ships looking to pass through the Strait of Hormuz, and even then it will only be limited to exceptions to some of its allies. To those aligning themselves with the US, there will be no such passage. And while that is going on, the US naval blockade also continues to stay in place.All in all, it doesn't mean much. The strait remains in de facto closure with the only vessels passing through being small regional cargo ships, Iranian coastal ships, and a few Chinese vessels that are heavily escorted and permitted by the Iranian navy. And even then, the traffic from these ships still resembles a ghost town. The key thing remains that no oil and gas tankers are passing through.As such, we're bracing ourselves for another week of the status quo being prolonged. And the toll on markets is also starting to show up, more evidently in the bond market.Treasury yields sold off heavily in the second half of last week with 10-year yields now shooting up to 4.62% and 30-year yields up to 5.14%. Both are hitting fresh one-year highs as the bond market is screaming that inflation worries are starting to balloon up and there will be a major toll on the economy.And it is not just in the US, we're seeing the same in Europe as well.On Friday, 10-year bond yields in France shot up to 3.97% - its highest since 2009. Meanwhile, 30-year yields jumped up to 4.66% - its highest since late 2008. In Germany, 10-year yields jumped to 3.18% and 30-year yields to 3.68% - both the highest since 2011.With fiscal worries already a major concern in the likes of France since last year, this latest episode is just piling on the pressure on Europe's second largest economy.In Japan, we also briefly saw 30-year yields hit 4.20% earlier today. If the government wasn't all too worried about fiscal concerns before, they surely are now. And that just piles on top of the Takaichi trade that is continuing to run in the background.In turn, we're starting to see all of this translate to perhaps the start of a corrective move in equities.After wiping out its weekly gains on Friday, US stocks are bracing themselves for another downbeat session later today. S&P 500 futures are lower by 0.6% with Nasdaq futures down by 0.5% currently.Looking to Europe, DAX futures are down 0.9% while CAC 40 futures are down 1.5% at the moment.It's looking quite rough out there as other asset classes are finally starting to heed the warning signal sent out from the bond market. This article was written by Justin Low at investinglive.com.

China April data misses badly, Iran war and weak demand weigh. Retail sales growth plunge.China April Retail Sales +0.2% y/y (exp 2%) & Industrial Prduction +4.1% y/y (exp 5.9%)Iran war economic toll deepens as global oil stocks near exhaustionJapan's 10-year bond yield hits 1996 high as fresh debt plans emerge. Extra budget comingChinese House Price Index continues to slump: April -3.5% y/y (prior -3.4%)PBOC sets USD/ CNY reference rate for today at 6.8435 (vs. estimate at 6.8086)Singapore April 2026 non-oil exports +24.5% y/y vs prior 15.30%Zcash surges 1,140% in a year as bitcoin pioneers back privacy tokenSouth Korea exchange halt as KOSPI futures slammed limit lowerUS net oil exporter status shields dollar from energy shock hitting peersUK housing prices rise but employer confidence stays near record lowAnnie Duke on the investing mistakes that quietly destroy most portfoliosNew Zealand services sector contracts again in April as fuel costs biteUS futures are open for the week's trade, oil up and equites (minor) downCurrie warns US oil inventory on course to hit rock bottom, no buffer left to draw onClock is ticking: Trump threatens Iran with annihilation over stalled peace talksAxios says Trump is waiting for a response from Iranweekend news - Drone hits UAE nuclear plant as Iran war deadlock deepensNewsquawk Week in Focus: NVDA earnings, UK, Canadian, Japanese and NZ inflationHeads up for Trump situation room meeting called for tuesday - military option discussionMonday open levels, indicative FX prices, 18 May 2026Is Tesla Stock a Buy or Sell?Summary:Oil prices extended gains as Iran war ceasefire talks stalled, a drone struck a UAE nuclear facility, and Trump is expected to convene a Tuesday Situation Room meeting on military options against Tehran, with the president warning Iran the clock is ticking.US Treasury yields surged, with the 10-year climbing to 4.631%, its highest since February 2025, and the 30-year hitting a one-year high of 5.159%, as rising oil prices fuelled inflation fears and reinforced bets on further rate hikes.South Korea's KOSPI triggered a sidecar halt for a second consecutive session with the index falling as much as 4.68% before recovering, with Samsung and its labour union entering government-mediated pay talks to avert a strike at a company accounting for nearly a quarter of Korean exports, per Yonhap.Japan confirmed plans to issue fresh debt to fund a supplementary budget aimed at cushioning the economic blow from the Middle East conflict, with PM Takaichi directing the finance minister to explore funding options including an expanded budgetChina's April data broadly disappointed, with retail sales rising just 0.2%, the weakest since December 2022, industrial output slowing to 4.1%, and fixed-asset investment contracting 1.6% in the first four months of 2026, while new home prices recorded a 35th consecutive monthly decline.Bitcoin weakened to its lowest level in more than two weeks as risk sentiment deteriorated across asset classes.Global markets were roiled on Monday as a toxic combination of surging oil prices, rising bond yields and deepening geopolitical strains from the Iran war sent equities lower across Asia, extending the losses that swept Wall Street at the end of last week.Oil was the dominant driver. Prices extended gains after efforts to end the US-Israeli war on Iran appeared to have stalled, a drone struck a nuclear facility in the United Arab Emirates, and reports emerged that President Trump is expected to meet top national security advisers in a Tuesday Situation Room session to discuss military options. Trump also warned publicly that the clock was ticking for Iran and that Tehran must move quickly or face destruction, language that markets read as raising the probability of resumed military action. A first meeting with his security team took place on Saturday.Bond markets bore the brunt of the oil-driven inflation fear. The benchmark 10-year US Treasury yield climb

China's April retail sales rose just 0.2%, the weakest since 2022, while industrial output grew only 4.1%, badly missing forecasts, as the Iran war and sluggish domestic demand weighed. Summary:China's National Bureau of Statistics reported April industrial output growth of 4.1% year-on-year, down from 5.7% in March and well below the 5.9% forecast, while retail sales rose just 0.2%, the weakest reading since December 2022, against a forecast of 2% growth, according to Reuters.Fixed-asset investment contracted 1.6% in the first four months of 2026, reversing a 1.7% rise in the January-March period, with domestic car sales falling 21.6% year-on-year for a seventh consecutive monthly decline.The NBS described the international environment as grim and complicated, called for more proactive fiscal measures and moderately accommodative monetary policy, and flagged a prominent domestic supply-demand imbalance, though the Politburo offered no concrete new stimulus beyond reiterating existing policy language.China's economy expanded 5.0% in the first quarter, at the top of Beijing's 4.5% to 5.0% full-year target range, but analysts warned the recovery was already running on uneven ground, with the Iran war adding external pressure to an economy still weighed down by a prolonged property market downturn. China's economy lost significant momentum in April, with industrial output and retail sales both badly missing forecasts, as the compounding pressures of higher energy costs from the Iran war and chronically weak domestic demand took hold.Factory output rose 4.1% from a year earlier, a sharp deceleration from the 5.7% recorded in March and the slowest pace of growth since July 2023. The reading fell well short of analyst expectations centred on 5.9% growth. Retail sales, the primary gauge of household consumption, rose just 0.2% in April, cooling sharply from 1.7% in March and marking the weakest gain since December 2022, against a forecast of 2%.The weakness was broad-based. Fixed-asset investment contracted 1.6% in the first four months of 2026, reversing a 1.7% expansion in the January-March period. Domestic car sales fell 21.6% year-on-year in April, a seventh consecutive monthly decline, even as Chinese automakers pushed harder into overseas markets to compensate for anaemic home demand. Property investment contraction also widened in April on an annual basis, extending a drag on growth that has persisted for several years.China's statistics bureau described the international environment as grim (THAT is VERY blunt!) and complicated, warning that global recovery momentum was facing greater headwinds. Officials called for more proactive fiscal policy and moderately accommodative monetary conditions, and acknowledged a prominent domestic supply-demand imbalance. However, the Politburo's reiteration of existing policy language at its most recent meeting offered no signal of imminent additional stimulus, a point likely to disappoint markets seeking a more forceful response.The April data offered an early indication that the economy's 5.0% first-quarter expansion, which came in at the top of Beijing's 4.5% to 5.0% full-year target range, may prove difficult to sustain. Better-than-expected exports and domestic fuel price controls have provided some insulation from the energy shock, but rising input costs and fragile consumption leave limited room for further slippage if the Iran conflict drags on.---The breadth of the April miss, spanning industrial output, retail sales and fixed-asset investment, signals that China's first-quarter momentum was already fading before the Iran war's full impact fed through. Weak domestic consumption combined with rising energy input costs is a particularly unfavourable combination for manufacturers, threatening to squeeze margins further and limit any export-led offset. The absence of concrete new stimulus signals from the Politburo, which reiterated existing policy language without announcing fresh meas

The U.S. Securities and Exchange Commission is reportedly poised to release a major crypto proposal as it seeks to institute its digital assets agenda.

Minnesota established the midwest’s first unified digital asset safety net for banks and credit unions.

The revenue share deal could shift an estimated $160 million in revenue from Coinbase and Circle into Hyperliquid's ecosystem, Compass Point analysts said.

The European fintech giant is launching a physical debit card that lets users spend the popular meme coin anywhere Visa and Mastercard are accepted with zero extra exchange fees.