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2026-05-25 Monday

2026-05-30

20:40:10

[Dakota Pipeline Granted Permission to Continue Operation, But Subject to Stricter Environmental Regulations; Native American Concerns Remain] ⑴ The U.S. Army Corps of Engineers ruled last Wednesday (May 21) that the Dakota Pipeline can continue operating under stricter environmental and safety regulations, a blow to Native American tribes and environmental groups who have opposed the pipeline's passage through a critical water source for years. ⑵ The pipeline can transport up to 750,000 barrels of crude oil per day from the Bakken Shale Basin to Illinois, with a section running beneath the Oashie Reservoir on the Missouri River. In 2020, a U.S. court ordered the Army Corps of Engineers to conduct a more in-depth environmental study of this section. ⑶ The Army Corps of Engineers stated that granting the pipeline an easement with additional conditions to reduce risks to the reservoir and the Missouri River was the preferred option among five alternatives. These additional conditions include strengthening leak detection and monitoring systems, expanding groundwater and surface water monitoring, developing water supply contingency plans, coordinating survival resource studies with affected tribes, and having independent experts review the pipeline's leak detection safety system. (4) From a transactional psychology perspective, the ruling provides policy certainty for domestic shale oil transportation in the United States, but stricter regulatory requirements mean increased operating costs and potential compliance risks. Indigenous tribes have long been concerned about the threat of oil spills to drinking water safety, and this conflict has not been fundamentally resolved by the new regulations, which may remain a potential trigger for future legal challenges.

20:21:40

[The rupee is nearing a historic low, with oil prices and foreign capital outflows putting increasing pressure on your EMI and overseas travel costs] ⑴ Since the outbreak of the US-Iran conflict at the end of February, the Indian rupee has been under continuous pressure, falling from approximately 91 rupees to the US dollar on February 28 to a historic low of 96 rupees on May 21, closing at 95.23 on Monday. ⑵ The head of commodities and foreign exchange research at Kotak Securities pointed out that the rupee's depreciation is being transmitted to households through three channels: first, gas stations—liquefied petroleum gas, compressed natural gas, and diesel freight are all facing upward pressure; second, kitchens—about 60% of India's cooking oil is imported and priced in US dollars; and third, transportation bills—diesel-powered trucks, rail freight, and last-mile delivery are driving up vegetable prices and e-commerce order costs. ⑶ In terms of investment, sectors highly dependent on imported raw materials, such as aviation, chemicals, coatings, oil marketing companies, and electronics, are the biggest losers, with aviation fuel now accounting for 55% to 60% of airline operating costs; while IT services, pharmaceutical exporters, and textile and jewelry exporters are benefiting from a favorable exchange rate after income conversion. (4) Outbound travel has become significantly more expensive—a $5,000 budget for a US vacation would cost approximately 400,000 rupees when the rupee was at 80, but this has risen to 480,000 rupees when it was at 96. Domestic travel has also been affected, with businesses passing on losses to higher airfares and hotel prices. (5) From a trading psychology perspective, the weakening rupee has pushed up the prices of crude oil and imported goods, thereby raising inflation expectations. If the Reserve Bank of India is forced to raise interest rates in the future, the EMI (excessive inflation) of floating-rate loans will increase accordingly. The current stage should be seen as a rebalancing trigger point rather than a panic sell-off. A small increase in holdings of export-oriented companies and a strategic gold allocation of 5% to 10% can be considered.

20:19:40

[Dollar weakens amid volatility, oil prices fall below $100, Hormuz reconciliation expectations roil currency markets] ⑴ On Monday, international oil prices fell below $100 per barrel as markets hoped for an agreement to resume navigation in the Strait of Hormuz, causing the dollar to weaken against major currencies, despite both the US and Iran downplaying the possibility of a short-term agreement. ⑵ Due to holidays in the US, UK, and many parts of Europe, market liquidity was thin. The dollar fell 0.2% against the yen to 158.89, the euro rose 0.40% to 1.1649, the pound rose 0.55% to 1.35044, and the Australian and New Zealand dollars rose 0.64% and 0.5% respectively. ⑶ Strategists at the Commonwealth Bank of Australia pointed out that if a peace agreement is ultimately reached, the dollar will weaken for a period, but "once the shock subsides," the dollar will strengthen again due to the better fundamentals of the US compared to other major currencies. (4) From a trading psychology perspective, the plunge in oil prices (Brent crude fell 5.8% to $97.61 in a single day) has temporarily lowered inflation expectations, prompting the market to withdraw its bets on a 2027 rate hike. This has provided breathing room for risk assets, but has also marginally weakened the demand for the US dollar as a safe haven. (5) The US statement over the weekend was inconsistent: on Saturday it said the memorandum had been "basically agreed upon," while on Sunday it said the blockade of Iranian ships would be "fully effective" until the agreement was signed. The market has become accustomed to being patient with substantial breakthroughs, but generally believes that the baseline scenario for an agreement remains solid.

20:16:10

[US Imposes Exorbitant Deportation Fee, $180,000 Fines Difficult to Implement, Exacerbating Immigration Panic] ⑴ The Trump administration plans to impose a $18,000 fine on each deported immigrant to cover arrest, detention, and repatriation costs. This policy will also raise the bar for their future legal return to the US. ⑵ The Department of Homeland Security acknowledges that over 23,000 people will face this new fine annually, but authorities are likely to collect almost nothing—institutional data shows that the average annual income in Mexico is only $5,000. ⑶ White House officials stated that the fine is intended to encourage illegal immigrants to "voluntarily leave," while the Department of Homeland Security stated that "illegal overstayers should leave immediately or face consequences." ⑷ From a transactional psychology perspective, this policy sends a clear deterrent signal: increasing the cost of violations to suppress the motivation for illegal entry. However, enforcement faces a ceiling on the actual affordability of low-income groups, making the fine more of a psychological warfare tool than a means of fiscal recovery. ⑸ Immigrant rights organizations point out that this move aims to "criminalize" almost all immigrants in the US. An official from the American Civil Liberties Union stated that "the purpose is to intimidate people and make them feel they must leave as soon as possible." (6) Data shows that the number of deportations by default judgment in 2024 surged from 62,000 in 2022 to 223,000, while the Trump administration simultaneously introduced a voluntary deportation bonus of $2,600 per person, and more than 100,000 people have used the relevant app to leave the country.

20:00:06

Mexico's seasonally adjusted trade balance for April

Previous : 24.99 Forecast : -

Published Value 33.51

Previous

20:00:05

Mexico's trade balance in April

Previous : 59.32 Forecast : 14.09

Published Value 45.20

Previous

19:22:10

[Global Attention Turns to South America: Record Production in Argentina and Brazil Reshapes Agricultural Market Landscape] ⑴ International agricultural commodity markets experienced significant volatility last week. July contracts for corn, soybeans, and wheat on the Chicago Mercantile Exchange all closed higher, driven by technical buying, demand expectations, and international geopolitical uncertainties. A USDA report showed that winter wheat conditions were deteriorating, but planting progress remained faster than historical averages. ⑵ South America has once again become the focus of the global market. The Buenos Aires Grain Exchange in Argentina raised its 2025/26 corn production forecast to a record 64 million tons and soybean production to 50.1 million tons. The Argentine government also announced a gradual reduction in export tariffs on various crops, including soybeans, corn, and wheat. ⑶ Brazil continues to consolidate its leading position in global soybeans. Abiove raised its production forecast to 180.1 million tons, with ending stocks reaching a near-decade high. Brazil has solidified its position as a major supplier to China thanks to cost competitiveness, improved logistics, and ample export supplies. (4) Concerns about a lack of rainfall and high temperatures in Europe in the coming weeks have led MARS services to lower yield forecasts for wheat, barley, corn, and rapeseed. Meanwhile, investor funds still hold historically high net long positions in multiple agricultural commodity markets, posing a potential risk of price correction.

19:03:22

China's actual annual rate of foreign direct investment in April (CNY) - year-to-date

Previous : -7.30% Forecast : -

Published Value -10.30%

Previous

19:02:07

As of May 22, commercial inventories of soybean oil in key regions across China

Previous : 97.56 Forecast : -

Published Value 103.22

Previous

19:00:09

Brazil's FGV Consumer confidence index for May

Previous : 89.10 Forecast : -

Published Value 88.80

Previous

18:02:20

[Trump's Fate Deeply Linked to Warsh's; No More Scapegoats to Find Amid High Inflation Pressure] ⑴ With Warsh's appointment as Federal Reserve Chairman, Trump has gained complete control of the highest economic policy-making body in the United States. Previously, Trump could claim that Powell was imposed on him by the previous administration, but Warsh was personally chosen by Trump, and the president must be held accountable for the final outcome. ⑵ During his campaign, Trump promised to lower prices and address the overall affordability issue for American families. However, since March 2025, the inflation indicator used by the Federal Reserve to set its 2% target has accelerated from 2.3% to 3.5%, the 30-year mortgage rate has rebounded to over 6.5%, a nine-month high, and the average price of a gallon of gasoline has risen from less than $3 before the conflict to $4.55. ⑶ Conservative think tank economic policy researchers point out that Powell has become the perfect scapegoat for Trump. Now, Trump will bear all economic responsibility, and the most pressing issues of rising prices and purchasing power will not disappear for the next few years or even many years. (4) The Federal Reserve remains a decentralized institution. The April meeting saw the most dissenting votes in over 30 years, with a majority of governors believing interest rates might need to rise. This directly contradicted Trump's expectations, and Warsh's preference for a debating style that allows for differing opinions could even surprise financial markets.

Real-Time Popular Commodities

Instrument Current Price Change

XAU

4539.78

44.19

(0.98%)

XAG

75.274

-0.343

(-0.45%)

CONC

87.76

-1.14

(-1.28%)

OILC

91.59

-0.81

(-0.88%)

USD

98.932

-0.077

(-0.08%)

EURUSD

1.1660

0.0001

(0.01%)

GBPUSD

1.3456

0.0001

(0.01%)

USDCNH

6.7632

0.0001

(0.00%)