Bitcoin faces a critical test near $69,000, representing the recent-buyer cost basis, while its lower on-chain stress boundary sits around $52,900. The market shows tentative stabilization as long-term holder losses cool, but a confirmed recovery requires sustained demand and a reclaim of key resistance levels.
The global diamond market may take 2-3 years to recover, with prices unlikely to rebound quickly due to declining demand for natural diamonds and the rise of synthetics. Experts cite changing consumer preferences in the US and oversupply as key factors.
China's consumer prices rose 1% year-on-year in June, below economists' expectations and slowing from May. Meanwhile, wholesale inflation accelerated to 4.1%, driven by energy costs and demand for AI technology, though input cost inflation eased.
US spot Bitcoin ETFs saw nearly $500 million in inflows over two trading sessions, ending a streak of outflows. However, demand in the broader spot market remains weak, indicated by a persistent negative Coinbase Premium Index and negative on-chain demand metrics, suggesting a relief rally rather than confirmed accumulation.
Iran faces challenges selling its accumulating oil reserves as a US deadline approaches. Weak demand from China and sanctions concerns hinder sales, potentially impacting Tehran's revenue and leverage. Asian buyers await clearer payment terms and sanctions relief.
Renault Korea Motors reported a 45.7% year-on-year drop in June sales, selling 4,651 vehicles. Both domestic and overseas demand weakened, with domestic sales down 32.2% and exports falling 45.7%. First-half sales also saw a significant 29% decline.
Chinese carmakers face a brutal price war due to weak buying interest and policy changes. AlixPartners forecasts 24.6 million light vehicle deliveries this year, with 10 million exports, but domestic sales are expected to decline 27.7%.
India's private sector growth decelerated in June, reaching a three-month low due to weaker demand impacting factories and services. Business confidence fell to its lowest since January, with job creation also at a six-month low.
China's annual "618" online shopping festival saw a sharp slowdown in sales growth to 4% from 15.2% last year, signaling persistent weakness in consumer spending despite strong exports and tech sectors. Retail sales declined in May, and analysts predict continued divergence between high-tech and consumption.
Global steel overcapacity is set to increase significantly by 2028, driven by state subsidies and expansion outside OECD countries, particularly China. The OECD warns this trend threatens competition and the viability of domestic steel industries worldwide.
GM Korea reported a 5.9% year-on-year decline in sales for May, selling 47,081 vehicles. The drop was attributed to weak demand both domestically, where sales fell 42.6%, and internationally, with exports down 4.8%.
Renault Korea Motors reported a 40% year-on-year drop in May sales, selling 5,913 vehicles. Both domestic sales (-31.2%) and overseas sales (-46.6%) declined due to weak demand. The company plans to optimize production and engage customers through events.
Maharashtra's onion farmers face massive losses due to collapsed wholesale prices, far below production costs. They demand a Minimum Support Price (MSP) of Rs 3,500/quintal and Rs 1,500/quintal compensation for distress sales.
International Air Transport Association head Willie Walsh warns of inevitable air fare increases in Europe due to high jet fuel costs amid the US-Israeli war's impact on Iran and the Strait of Hormuz, despite some airlines recently reducing European fares.
Renault Korea Motors' April sales fell 40.5% year-on-year to 6,199 vehicles due to weak domestic and overseas demand. Domestic sales dropped 23.4% to 4,025 units, while overseas sales plunged 58% to 2,174. The Filante SUV, launched in March, was the top seller with 2,139 units.
Volkswagen reported a 28% profit plunge to €1.56 billion in Q1 2026, with revenues falling 2% to €75.7bn. CFO Arno Antlitz warned that planned cost cuts are insufficient and the company needs fundamental business model changes to survive. US tariffs add €4bn annually in costs, while China sales dropped 20%. The company already plans to cut 50,000 jobs in Germany by 2030.
