Emerging market currencies are sharply declining

Trump's latest measures to deepen protectionism have triggered further sell-offs in emerging markets.
The currencies and indices of emerging markets are turning to their biggest losses since September 2015. The Hungarian forint has fallen to a historic bottom after the country's central bank has confirmed its not particularly aggressive monetary policy.
Yuan fell on Thursday for the tenth consecutive day against the dollar, which was his longest series of declines since March of 2014.
A cheap yuan is part of China's policy to resist US blows in the ever-worsening trade war between the two super-economic powers.
Chinese yuan is cheaper also because the central bank of China refrains from raising interest rates after the Fed raised interest rates by 25 basis points.

Oil loses more than $4 on Friday, continues to go down

The price of oil continued with its exceptionally strong depreciation on Friday and the first day of the new week. Brent futures with delivery next month lost $1.1, or 1.4% on Friday's closing level.
US crude oil fell by 1.57 dollars, or 2.3% on Friday's closing level.
Brent and US oil fell respectively by 6.4 and 9 percent of its peak in early May. In China, oil fell 4.5 percent to 459 yuan a barrel (71.83 dollars a barrel).
The rise in oil prices in recent weeks has sparked serious debates among market participants and OPEC members about the impact of oil prices on the world economy, according Chittag Ay, chief economist at Morgan Stanley.
On Friday, Saudi Arabia and Russia, which are considered to be drivers of the oil market, said some oil production growth of 1 million barrels per day was under discussion.
Production cuts were the factor that led to substantial oil prices on international markets.
With the price rise, however, the US producer of US oil is also growing, benefiting from the high oil price.
Oil prices have collapsed after reports that Saudi Arabia and Russia have agreed to increase their production in the second half of the year, ANZ said.
US energy companies have added 15 new field deposits for the week to May 25.

US vs. Iran: the game begins

The prices for oil on Thursday after correction in the last few days again moved to growth: Brent crude again continues to try to gain a foothold at $75 per barrel, North American oil WTI is in an attempt to overcome the mark of $68.5 per barrel.
The situation in the Middle East continues to worsen: the Iranian issue added to the Syrian issue, full of uncertainty: the peak moment will be May 12, as the question of the possibility of imposing new sanctions against Iran on the part of the US is being resolved because of the reluctance of the oil Middle East giant to meet halfway in the issue of revision of the nuclear deal.
If sanctions are imposed, one of the largest oil producers will again be withdrawn from the game, which can raise the cost of raw materials not only up to $80, but much higher.

Copper - the first victim of the trade war between the US and China?

Last week, the most serious sale took place in two years, as investors were increasingly concerned about the prospects for a trade war. After this sale, the metals seem to have calmed down. However, copper along with other non-noble metals fell again at the auction in Shanghai this week.
This decline seems to have occurred because of the events of Friday. China finally responded to Trump's tariffs referring to section 232 on steel and aluminum imports, announcing plans to introduce reverse tariffs of up to $3 billion on US goods, including seamless steel pipes and aluminum scrap, which threatens to slow global economic growth.
After this announcement, the price of copper fell 1.15%, and non-precious metals showed the worst weekly decline since early February. Quotes fell below the level of the September consolidation, breaking the level of the 200-period moving average, signaling a target at 2.83.

Oil rally may be short-term?

Another good week for oil after the OPEC Secretary predicted global oil consumption growth to over 100 million barrels per day by 2020. Mohamed Barkindo's statement was widely welcomed by oil investors.
Investors are now beginning to ask - is the oil rally justified and how far could the price of black gold go?
The market knows that OPEC's positive comments and forecasts often are rapidly being overcomed. Especially in cases where net long positions of investors rise to high levels, as currently the case is.
Investors are aware that any forecasts coming from OPEC should be taken with a great portion of mistrust. In the end, they come from a party that is interested in a high oil price and can be manipulated.
Some experts start to worry that the price of oil has risen too much and too fast. Not only the planned repairs of US refineries expected to bring downward pressure on raw material prices, but also the number of shale growers is rising as a result of the rise in oil prices.
Oil demand from China may also fall below expectations, which is another factor to lower the price of oil.
On the other hand, the unprecedented warming of relations between Russia and Opec may be a factor that will continue to support the cost of the raw material. What will happen from now on is yet to be seen.

Jobless claims in the US jumped

The number of Americans who have submitted requests for unemployment benefits in early May rose for the third consecutive week to 294,000, reaching a fourteen months peak and adding new evidence that the labor market in the US might weaken.
General jobless claims were at a rate of 274,000 in the previous week.
The average value of new orders in the last four weeks also rose by 10,250 to 268,250, said the Labor Department on Thursday. Data are seasonally adjusted.
Only a month earlier, initial claims for unemployment benefits have fallen to 43-year lows. But lowering corporate profits, exports decreased.
In April in the US were created only 160,000 new jobs, noting his youngest progress since last autumn. Other indicators of the labor market also suggest delaying hiring.