investingLive Americas market news wrap: Oil prices spike as Trump announces blockade and tolls

2026年7月14日最近のFX関連情報

• US navy details that it will enforce a full blockade on Iran
• US June federal budget deficit $120 billion vs $138 billion expected
• More from Fed Waller: Now is not the time to use forward guidance.
• Waller: If there is another hot reading on core inflation this week, the Fed will need to consider raising rates
• Trump reimposes Iran blockade, places 20% toll on Hormuz shipping
• US 2-year yields touched the highest since February 2025
• Trump: We're taking over the Strait of Hormuz

Markets:

• WTI crude oil up $6.24 to $77.64
• Gold down $121 to $3998
• US 2-year yields up 5.7 bps to 4.26% -- one year high
• S&P 500 down 0.8%
• Nasdaq down 1.7%
• USD leads, AUD lags

The war looks like it's back on with the US announcing a total blockade of Iran. Surprisingly, the US also said it was imposing a 20% toll on all goods passing through the Strait in exchange for ensuring safe passage. That's sure to leave no one happy and it was coupled with a round of fresh strikes on Iran, which again targetted commercial ships.

All this looks like we're right back to where we were in April and oil responded by rising nearly 10% before slightly paring the move late. Trump announced that he would be making a speech Thursday evening and he may try to lay the groundwork for a more extended campaign.

That wasn't the only tailwind for the US dollar as a speech from Waller completed his full reversal of his dovish stance. He fretted about inflation and said Tuesday's data will be key for him in what he advocates for next. The market bumped up the odds of a rate hike to 40% for the July 29 meeting. He also said that his earlier concerns about the jobs market were misplaced.

“If we get another hot reading on core inflation this week, then the FOMC will need to consider tightening monetary policy in the near term," he said.

USD/JPY steadily rose but eventually stalled near 162.50 as the intervention threat remains. The euro was steadily sold after a pop in early European trade and is now 30 pips lower to 1.1383.

In the stock market, chip names were sold again with Micron down 4.9% and Intel down nearly 7% in a broad move. Tomorrow, earnings season kicks off with bank earnings and that's going to be an important driver. 

In bonds, Treasuries are increasingly on board with the need to hike as 2-year yields rose to the highest since Feb 2025, before the Fed cut rates three times. The long end also sold off with 10s up 4.66% on concern that inflation is increasingly embedded.

One worry as we wind down the day is the number of markets finishing at the extremes of the day. We see it in FX, stocks (lows) and bonds (high yields). 

This article was written by flc97fe4880a4b454993821fe0b770a597 at investinglive.com.

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