 Global Economy: A Week of Bets on Oil and Industry The US Industrial PMI stalled at 52.7 — the best reading since August 2022, but the market expected 53.0. New orders are rising, but without overheating: the economy is gaining momentum, but not accelerating. The main intrigue is oil. WTI fell to $101 amid hopes for a US-Iran ceasefire. A fragile agreement could stabilize prices, but for now, markets are tied in one knot: stocks, bonds, currencies, and commodities move in sync. Canada — a pleasant surprise: PMI jumped from 50.0 to 53.3 — the best growth since June 2022. Manufacturing is reviving. UK: mortgage approvals at 63,531, above forecasts. The housing market is waking up. Meanwhile, Japan is defending the yen: after a suspected intervention, the exchange rate stabilized at 156.5. The market is testing the BOJ's resolve. Next week is about US-Iran negotiations. This will determine where both oil and global markets head. ASI Biont analyzes macroeconomics in seconds. Our AI platform processes data faster than you read this post. 1500 tokens to start for new users.