Bank of Canada Governor Macklem: Rate cut is possible in June.

[Market impact of the stronger-than-expected US CPI for three consecutive months] 1. Foreign exchange market: USD/JPY rose above 152 for the first time in 34 years, reaching a high of 152.73. The euro fell 1% against the US dollar, the largest single-day drop since July. The Australian dollar fell more than 1.5% against the US dollar, and the New Zealand dollar fell more than 1% against the US dollar. Among emerging market currencies, the South African lat fell 1.7%, leading the decline. 2. Gold and silver market: Spot gold once fell by $30 to $2,319/ounce, and then gradually recovered all the losses. Spot silver even rose to $28.26/ounce, which was above the data release. 3. Bond market: The 10-year US Treasury yield broke through 4.5%, the 2-year US Treasury yield rose 20BP to 4.95%, and the 5/30-year US Treasury yield inverted for the first time since September. 4. Swap pricing: The first Fed rate cut date fully digested by the swap market was postponed to November, and the bet on a rate cut in June almost disappeared, firmly confirming the expectation of only two rate cuts this year.

EIA report: U.S. crude oil exports decreased by 1.314 million barrels per day to 2.708 million barrels per day in the week ending April 5.

The EIA crude oil inventory increase in the United States for the week ending April 5 was the largest since the week ending February 9, 2024.

U.S. commercial crude oil inventories excluding strategic reserves in the week ending April 5 were the highest since the week ending July 14, 2023.

EIA report: U.S. Strategic Petroleum Reserve (SPR) inventories increased by 595,000 barrels to 364.2 million barrels in the week ending April 5, an increase of 0.16%.

EIA report: The four-week average supply of U.S. crude oil products was 19.95 million barrels per day, a decrease of 0.44% from the same period last year.

EIA report: U.S. domestic crude oil production remained unchanged at 13.10 million barrels per day in the week ending April 5.

EIA report: In the week ending April 5, the United States imported 6.434 million barrels of commercial crude oil excluding strategic reserves, a decrease of 184,000 barrels per day from the previous week.

The U.S. EIA Strategic Petroleum Reserve inventory for the week ending April 5 was 595,000 barrels, compared with 591,000 barrels in the previous week.

EIA report: Commercial crude oil inventories excluding strategic reserves increased by 5.841 million barrels to 457 million barrels, an increase of 1.29%.

According to Hamas-affiliated news agency: Three sons of Hamas leader Haniyeh were killed in an Israeli air strike on Gaza.

Spot gold has roughly recovered its losses since the release of U.S. CPI data and is now trading at $2,348 an ounce.

The U.S. EIA crude oil inventory and Cushing crude oil inventory for the week ending April 5 will be announced in ten minutes; the Governor of the Bank of Canada will hold a press conference in ten minutes.