United States Monthly Budget Statement below forecasts ($220B) in April: Actual ($215B)

May 12, 2026

Oil: Iran tensions and China demand shifts – Commerzbank

Commerzbank’s Barbara Lambrecht and colleagues note Brent has jumped as Iran–US tensions escalate and US policy debates gasoline tax relief. China’s crude Oil imports fell sharply in April, with further declines expected as shipments from Saudi Arabia and Iran drop.

US Dollar Index jumps after hot US CPI data reinforces hawkish Fed outlook

The US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, climbs to a five-day high on Tuesday as stronger-than-expected US inflation data bolsters the hawkish Federal Reserve (Fed) outlook.