Asia Market Movers: Oil has risen as the US has launched wave after wave after wave of attacks on Iran

Wednesday, 10 Jun, 2026 Commodities Oil has risen as the US has launched wave after wave after wave of attacks on Iran Three 'waves' of attacks reported: More on this news: US strikes southern Iran after Apache helicopter downed over Hormuz Second wave of US attacks on Iran said to be underway US launches third wave o Commodities US launches third wave of Iran strikes as ballistic missiles fired from Isfahan Bandar Abbas is the nerve centre of Iran's Strait of Hormuz operations, and confirmed strikes there mark a qualitative escalation beyond radar and air defense sites. The reported launch of ballistic m Learn more Central Banks PBOC is expected to set the USD/CNY reference rate at 6.7749 – Reuters estimate The People’s Bank of China is due to set the daily USD/CNY reference rate at around 0115 GMT (2115 US Eastern time), a fixing that remains one of the most closely watched signals in Asian foreign exch News Japan data: May PPI 6.3% y/y (expected 5.5%) and 0.9% m/m (expected 0.5%) Wholesale inflation remains elevated in Japan, way above expectations. May 2026 PPI, or corporate goods price index (CGPI), which measures the price companies charge each other for their goods and ser Commodities Second wave of US attacks on Iran said to be underway Explosions reported again, in the vicinity of Jask, Hormozgan province of Iran. Iranian media cite a 'senior US official' but I have yet to see such a US report. Israel's Channel 12: targeting air def Commodities Iran foreign minister Araqchi warns US to leave region, pledges response to strikes A direct, named threat from Iran's Foreign Minister raises the geopolitical risk premium a notch above anonymous state media statements. Language referencing battlefield defeats and historical consequ Commodities US hits Iran air defenses in warning shot as Trump says deal talks to continue The dual signal from Washington, striking Iranian territory while simultaneously insisting the deal survives, introduces a new layer of uncertainty that markets will struggle to price cleanly. Targeti Commodities More on this news: US strikes southern Iran after Apache helicopter downed over Hormuz The strikes mark a sharp escalation in direct US-Iran military engagement and raise fresh doubts about any near-term peace deal, which markets had been tentatively pricing in. Hormuz closure risk is a Learn more Commodities Reports of multiple explosions near Bandar Abbas, on coast of Strait of Hormuz US Central Command said it carried out self-defence strikes against targets inside Iran from 5pm ET, ordered by President Trump in direct response to the shooting down of a US Army AH-64 Apache helico

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