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Japanese Finance Minister Satsuki Katayama: The Middle East conflict and oil price fluctuations are also reasons for the weakening of the yen.
June 5th - Japanese workers real wages have risen for the fourth consecutive month, marking the longest winning streak in four years and further strengthening the Bank of Japans case for an interest rate hike this month. The Ministry of Health, Labour and Welfare reported on Friday that inflation-adjusted real wages rose 1.9% year-on-year, a faster pace than the revised 1.4% in the previous month. This figure exceeded economists previous expectations of a 1.7% increase. Nominal wages rose 3.5%, also better than the market consensus of 3.1%. Basic wages rose 3.4%; while another wage indicator closely monitored by Bank of Japan officials and effectively mitigating sampling errors showed that full-time workers wages rose 2.6%. Both figures indicate that the underlying momentum of wage growth in Japan remains robust.
On June 5th, Futures News reported that, according to foreign media, Chicago Board of Trade (CBOT) corn futures closed modestly lower on Thursday, with the benchmark contract down 1.8%, hitting its lowest level since late January. This was mainly due to favorable weather conditions in the Midwest, a decline in international crude oil futures, and weak corn export sales. Traders said the July contract fell to its lowest level in nearly five months, while the December contract fell to its lowest level in four and a half months. In recent weeks, the grain market has become less sensitive to energy price fluctuations as weather conditions have become the focus of market attention. The Buenos Aires Grain Exchange reported that Argentinas corn harvest is 40.6% complete, up 6% from a week ago. The corn production forecast remains unchanged at 64 million tons.
On June 5th, according to foreign media reports, international oil prices fell 3% on Thursday, with market focus shifting from supply disruption risks to the possibility of easing tensions in the Middle East. Following the ceasefire agreement announced by Israel and Lebanon, investors began betting that the US and Iran might further advance peace talks, ultimately leading to the restoration of normal navigation in the Strait of Hormuz, thereby alleviating global energy supply tensions. Market participants believe that the conditional ceasefire agreement reached between the Israeli and Lebanese governments on Wednesday is an important signal for promoting US-Iran peace talks. Iran had previously stated that any agreement with the US would be contingent on Israel ceasing its military operations against Hezbollah in Lebanon. With the agreement between Israel and Lebanon, market expectations for the reopening of the Strait of Hormuz have rapidly increased. Although shipping through the strait remains nearly stalled, some vessels have begun redeploying towards the Persian Gulf, seen as a sign of market expectations for improved conditions. Despite the short-term oil price correction, some institutions remain cautiously optimistic. UBS believes that as long as shipping through the Strait of Hormuz remains restricted, the global oil supply shortage will be difficult to completely alleviate, and the upside risk for oil prices remains.
1. Foxconn announced a strategic partnership with Intel to jointly develop an AI platform. 2. Reports indicate that Apple will utilize Nvidias Blackwell B200 to process some Siri AI requests in iOS 27. 3. Meta postponed the release of the API for its Muse Spark AI model. 4. According to the Financial Times, the US is using Anthropics "Mythos" model to launch cyberattacks. 5. Anthropic called for a global halt to cutting-edge AI research, claiming that self-improving AI could pose significant risks. 6. Goldman Sachs predicts that SpaceXs AI revenue will surge 100-fold by 2030. 7. SpaceX: Retail investors will be able to participate in the subscription at the same price as large institutions, with the SPCX expected to be priced at $135 per share. 8. Foreign media: Google is quietly laying off employees in its cloud division. 9. Musk: The operating altitude of Starlink V3 satellites will be reduced from 550 km to 350 km, thus halving the minimum latency.