The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
1129 GMT - The Polish zloty falls to 19-month low against the euro and a two-and-a-half-year low versus the Czech koruna on the prospect of Poland's central bank cutting interest rates. National Bank of Poland Governor Adam Glapinski signalled a future rate cut in a press conference Thursday, a day after the central bank left rates unchanged at 3.75% as expected. This came as a surprise due to the renewed strikes between the U.S. and Iran, Commerzbank's Tatha Ghose says in a note. The idea that Iran might force NBP into raising rates has evaporated, he says. The euro rises to 4.3502 zloty, while the zloty falls to a low of 5.5718 koruna.(renae.dyer@wsj.com)
1128 GMT - Bitcoin rises as worries over the U.S.-Iran conflict ease, improving appetite for risky assets. Despite renewed strikes between the U.S. and Iran this week, a U.S. official said technical talks are continuing, WSJ reports. Positive developments in crypto legislation are providing further support, Saxo Bank analysts say in note. Momentum is building behind U.S. market-structure legislation with reports indicating that the Clarity Act could reach the Senate later this month after CFTC Chair Michael Selig urged Congress to advance the crypto regulation bill, they say. Bitcoin rises 1.8% to $64,389, according to LSEG. (renae.dyer@wsj.com)
1036 GMT - U.S. Treasury yields edge marginally lower while the dollar is stable on expectations that peace talks between the U.S. and Iran could resume. Diplomatic hopes helped stabilize oil pries after the latest escalations in the Middle East. "However, markets are still anticipating an interest rate hike [by the Federal Reserve] by year-end and another next year, which could keep yields at elevated levels and support the currency," Kudo.com's Konstantinos Chrysikos says in a note. Monetary policy expectations could continue to adjust as rapidly changing geopolitical conditions in the Middle East affect the inflation outlook, he says. The 10-year Treasury yield falls 0.6 basis points to 4.531%, according to Tradeweb. The DXY dollar index is stable at 100.871. (emese.bartha@wsj.com)
1016 GMT - Crude palm oil ended lower amid concerns over rising stock levels in Malaysia, according to David Ng, a trader at Kuala Lumpur-based Iceberg X. Weaker-than-expected export performance, lower crude oil and soybean oil prices were also added to the price pressure, he says. Ng sees palm oil prices supported above 4,500 ringgit a ton and faces resistance at 4,680 ringgit a ton. The Bursa Malaysia Derivatives contract for September delivery falls 83 ringgit to 4,511 ringgit a ton. (tracy.qu@wsj.com)
1013 GMT - Wizz Air's earnings recovery is at risk, with the market expecting a much faster profit recovery than is likely, RBC Capital Markets analyst Ruairi Cullinane says in a research note. Previous earnings were boosted by one-off items such as compensation payments and foreign exchange gains that are unlikely to be repeated, Cullinane says. The analyst also sees continued pressure on ticket revenues and operating costs as risks to near-term profitability. While aircraft availability is expected to improve over time, Wizz Air's current valuation already assumes a strong rebound, leaving around 20% downside if earnings recovery proves slower than anticipated, he says. RBC cuts its recommendation to underpeform from sector perform. Shares fall 0.4% to 1168 pence. (nina.kienle@wsj.com)
0915 GMT - The cost of insuring euro credit against default stays steady as possible easing tensions between the U.S. and Iran restore market calm. A U.S. official said technical talks with Iran are continuing, The Wall Street Journal reports, easing concerns about possible escalation in the Middle East conflict. The iTraxx Europe Crossover index of euro high-yield credit default swaps is unchanged at 244 basis points, S&P Global Market Intelligence data show. (miriam.mukuru@wsj.com)
0854 GMT - U.S. gasoline demand has shown unexpected strength despite higher fuel prices and weaker consumer sentiment, the International Energy Agency says. Gasoline consumption rose by an average of 1.5% year over year in March and April, reversing a 12-month trend of declines. The increase came even as pump prices climbed nearly 50% since the start of the conflict. The IEA says preliminary data point to slower growth in May and June, but American drivers accounted for nearly one-third of global gasoline consumption, making U.S. fuel use a key factor in the market. While the agency says that some of the recent increase might reflect consumer stockpiling, demand growth is still expected to return closer to historical trends in 2027. (giulia.petroni@wsj.com)
0812 GMT - Global investors are likely to demand extra compensation for investing in risky assets due to uncertainty surrounding the U.S.-Iran conflict, Capital.com's Daniela Hathorn says in a note. Renewed attacks this week have raised concerns about the risk of a prolonged energy supply shock due to the extended closure of the Strait of Hormuz. "The events of this week have reminded markets that the path to a lasting agreement is unlikely to be straightforward," Hathorn says. (miriam.mukuru@wsj.com)
0811 GMT - Markets are taking a decisively optimistic stance over the U.S.-Iran conflict despite renewed tensions, which is weighing on the dollar, ING's Francesco Pesole says in a note. Investors seem to be clinging on to the fact that technical talks continue, he says. Fading geopolitical risk means continued focus on rate differentials. These have moved against the dollar in some instances, for example where markets have increased bets on another interest-rate rise by the European Central Bank, he says. The recovery in risk sentiment has also prompted a decent rebound in high-yielding emerging market currencies, he says. The DXY dollar index falls 0.1% to 100.799. (renae.dyer@wsj.com)
0757 GMT - Oil is likely to remain supported if the Iran-related risk premium stays active, according to GivTrade analyst Waleed Said in commentary. Recent increases in oil prices were mainly driven by expectations of geopolitical risk, as traders priced in higher shipping risks and rising insurance costs, the analysts say. Investors are closely watching U.S. unemployment claims, which could influence the next move in oil. Traders need to assess whether U.S. demand is strong enough to absorb higher fuel costs, he says. Front-month WTI crude oil futures are 0.1% lower at $71.41 a barrel; front-month Brent crude futures are 0.9% lower at $75.60 a barrel. (tracy.qu@wsj.com)
0731 GMT - Recent military strikes between the U.S. and Iran have boosted expectations for another interest-rate rise by the European Central Bank but the euro has limited scope to benefit, ING's Francesco Pesole says in a note. The re-escalation has prompted a re-tightening in euro-dollar short-term swap differentials. "While all this is injecting new confidence into previously dwindling expectations for a September ECB hike, the path for euro-dollar to come out stronger from this re-escalation is quite narrow." The euro could stabilize versus the dollar Friday as markets wait for more clarity on the situation but there is a risk of it falling back below $1.14, he says. The euro rises 0.1% to $1.1438.(renae.dyer@wsj.com)
0726 GMT - Yields on U.K. government bonds, or gilt, fall as investor concerns ease due to U.S. and Iran continuing talks to end the Middle East conflict. Investors are optimistic given that the two waring parties continue to negotiate, ING's Francesco Pesole says in a note. A U.S. official said technical talks with Iran are continuing despite recent strikes between the two sides, The Wall Street Journal reports. Ten-year gilt yields fall 2.7 basis points to last trade at 4.879%, Tradeweb data show. (miriam.mukuru@wsj.com)
(END) Dow Jones Newswires
July 10, 2026 07:29 ET (11:29 GMT)
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