OPEC Monthly Report: According to secondary data, Iraqi crude oil production in April decreased by 203,000 barrels per day from the previous month to 4.139 million barrels per day.

The South African rand fell further against the dollar, down more than 2% on the day.

OPEC Monthly Report: The 2023 euro zone economic growth forecast remains unchanged at 0.8%.

OPEC Monthly Report: Keep the U.S. economic growth rate unchanged at 1.2% in 2023.

Alliance West Bank quarterly deposits rose $1.8 billion.

Iraq sent a formal request to Turkey to restart the northern oil export pipeline, three sources said.

[Financial Blog Zero Hedge Comments on U.S. April PPI: The Fed has more room to pause interest rate hikes] The CPI announced yesterday has cooled slightly. Slow down further. After falling 0.5% MoM in March, PPI rose 0.2% MoM in April (less than 0.3% expected), which slowed the year-on-year growth to 2.3% (2.7% previously, 2.5% expected). The annual rate of core PPI also slowed. This trend in PPI and CPI is now showing deflationary signals. Finally, of all the "price stability" indicators that track the collapse in M2, PPI appears to be leading the pack. All of this gives the Fed more room to pause rate hikes (or cuts).

OPEC Monthly Report: The forecast for non-OPEC supply growth in 2023 remains unchanged at 1.4 million barrels per day.

The U.S. 2-year and 10-year Treasury yield curves have inverted by 47 basis points.

JPMorgan Chase CEO Dimon: He is more worried about geopolitical issues than the US recession.

JP Morgan CEO: Consumers are spending through their excess savings.

ECB President Lagarde: Europe has not yet experienced banking turmoil.

JPMorgan Chase CEO: Long-term interest rates may rise.

JPMorgan Chase CEO: The closer the US is to default, the more panic it will cause.

JPMorgan Chase CEO: Big banks are indispensable.

Bailey, Governor of the Bank of England: The transmission mechanism of UK monetary policy through the mortgage market has changed a lot over time.

[Deutsche Bank: The risk of the Bank of England raising interest rates at least once is high] Commerzbank said that the Bank of England raised interest rates again today, leaving the door open for further rate hikes, but this will depend on the persistence of inflation, unlike the Fed , the Bank of England has yet to give any clear signs of a pause in rate hikes. Commerzbank does not expect the Bank of England to raise interest rates further, but it will ultimately depend on the data. However, the fact that the statement made no attempt to dampen speculation of further rate hikes suggests that the risk of at least one more hike is high.

Bailey, Governor of the Bank of England: At present, we have no bias in setting interest rates.