News

On June 4, according to Bitget market data, U.S. cryptocurrency concept stocks continued to decline in pre-market trading. Specifically, MSTR fell by 1.19%; an exchange dropped by 1.38%; CRCL decreased by 0.80%; SBET fell by 2.53%; BMNR declined by 2.31%; HOOD dropped by 2.75%; and PURR saw a significant decline of 8.29%.

According to trade sources, the price of Iranian crude oil has turned to a discount against Brent crude oil for the first time since April. At the same time, the premium of Russian ESPO crude for June narrowed to about $3-4 over Brent, compared to $4-5 last month, indicating that traders are lowering prices to attract buyers amid weak demand.Data from Kpler shows that Russian crude oil imports have fallen to 1.04 million barrels per day, the lowest level since August. This further confirms the downward pressure on global crude oil demand. Coupled with market concerns triggered by Trump’s tariff rhetoric, energy trade flows are experiencing a substantial slowdown.When prompt discounts and import volumes simultaneously decline, the market usually tends to turn defensive. The short-term fluctuation center of oil prices may move lower, and it will be important going forward to monitor changes in inventories in major consumer countries and whether there are new disruptions on the supply side due to geopolitics.

Golden Ten Data, June 4 — According to a survey by The Wall Street Journal, the Reserve Bank of India is likely to keep its policy repo rate unchanged at 5.25% on Friday. Out of 11 economists surveyed, 9 hold this view, while the remaining 2 expect the central bank to raise the repo rate by 25 basis points to 5.50%. ANZ economist Dhiraj Nim stated that since depreciation pressure on the rupee persists and inflation may surpass the central bank's 6% tolerance cap and remain high later this year, an interest rate hike might be reasonable at this time. However, Citi Research analysts noted that the Reserve Bank of India has previously indicated its willingness to wait for second-round inflation effects to materialize before taking action, and using interest rates to defend the currency would be a last resort. Bank of America economists stated that although reasons for a rate hike are accumulating, they believe there is currently no room to stabilize the rupee through a substantial rate hike.