EUR/USD
1.17336
0.355%
Gold
4648.94
2.008%
Oil
97.385
-2.514%
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155.788
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1.35849
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Real-time News
May 6th, Futures News: Economies.com analysts latest view: Brent crude oil futures have continued to fall sharply in recent intraday trading, breaking below the short-term minor upward trend line. Although it has reached oversold levels, it may still fall further in the near term and may rebound with support at the 50-day moving average, thereby curbing the decline and potentially experiencing some upward rebound to recover some of the previous losses.May 6th Futures News: Economies.com analysts latest view: WTI crude oil futures prices fell in the latest intraday trading, breaking below the short-term uptrend line and the 50-day moving average support, exacerbating downward pressure and suggesting further declines in the short term, especially after losing key technical support levels. On the other hand, some positive signals are emerging; the Relative Strength Index (RSI) has begun to show a bullish crossover after reaching oversold levels, which may provide an opportunity for prices to stabilize or consolidate.1. According to monitoring of soybean crushing operations, the total soybean crushing volume of major oil mills nationwide in April was around 6.9 million tons, a decrease of 1.4 million tons month-on-month, an increase of 1.5 million tons year-on-year, and an increase of 200,000 tons compared to the average of the same period over the past three years. Imported Brazilian soybeans will arrive in large quantities in May, leading to increased operating rates at oil mills. It is estimated that the total soybean crushing volume for May will be around 8.5 million tons, an increase of approximately 1.6 million tons month-on-month, a decrease of approximately 500,000 tons year-on-year, and a decrease of approximately 200,000 tons compared to the average of the same period over the past three years. 2. Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, held talks with Iranian Foreign Minister Araghchi in Beijing on the 6th. (Xinhua News Agency) 3. As of the week ending April 30, the Mysteel standard clean copper concentrate TC weekly index was -$86.33/dry ton, a decrease of $3.6/dry ton from the previous week. According to Mysteels research, the tight supply situation at the mine end of the copper concentrate spot market continues to deepen, and processing fees remain low. Smelting profits are under significant pressure, and currently, most profits are being offset by by-product revenue. 4. According to the latest data from the Price Monitoring Center of the National Development and Reform Commission, as of April 29, 2026, the price of live pigs was 9.83 yuan/kg, the price of corn was 2.38 yuan/kg, and the pig-to-corn price ratio was 4.13. Compared with April 22, 2026, the price of live pigs increased by 2.61%, the price of corn remained unchanged, and the pig-to-corn price ratio increased by 2.48%. 5. Recently, the cost of imported Brazilian soybeans in my country has increased, leading to fluctuating increases in soybean meal and soybean oil prices, while crushing profits on the futures market remained stable. On April 30, the crushing profit for imported Brazilian soybeans for June and July shipment was -67 to -13 yuan/ton, basically unchanged from the same period last week. 6. Bill Nossi, Senior Investment Director at Bank of America Asset Management Group, said, "Currently, it appears that the situation in Iran has not escalated substantially, and the market has breathed a sigh of relief." Although hostilities in the Middle East appeared to have eased somewhat on Tuesday, the conflict continues to influence future US economic indicators and the Federal Reserves interest rate decisions. 7. Following fuel supply concerns in Australia following the conflict with Iran, the country plans to include a A$10 billion (US$7.2 billion) fuel security and resilience plan in its budget proposal next week. Australian Prime Minister Albanese stated that the plan will help build fuel and fertilizer reserves, including supporting the expansion of total diesel and aviation fuel reserves to a 50-day supply level. 8. According to a statement released by the U.S. State Department on May 5th, the United States announced the phased closure of its consulate general in Peshawar, Pakistan, transferring its diplomatic duties to the U.S. embassy in Islamabad. The U.S. stated that this move was to ensure the safety of its diplomatic personnel.Futures News, May 6th: Economies.com analysts latest view: Spot gold surged in the latest intraday trading, challenging the short-term downtrend line and touching the EMA50 resistance level. This highlights the importance of this area as a key resistance level that will determine near-term price action. Despite the current positive momentum, the Relative Strength Index (RSI) is showing some negative signals, forming a death cross after reaching overbought levels, which could put pressure on the continuation of the upward trend. Therefore, the outlook remains dependent on whether the price can break through this resistance level. A successful breakout could support further price increases, while failure could trigger selling pressure.Bernstein: Lowered its target price for Xiaomi Group (01810.HK) to HK$43, down from HK$46 previously.
