New York COMEX silver futures are up 2.00% intraday at $59.53/oz.

Falling oil prices have reduced the risk of persistent inflation and prompted traders to pare ECB tightening bets; since April markets have, for the first time, stopped fully pricing a 25bp ECB hike by end-2026. Two weeks ago, ahead of the ECB lifting the deposit rate to 2.25%, the 25bp move had been fully priced. Two-year euro-area inflation swaps have fallen from above 3% in April to below 2.2%. Mizuho multi-asset strategist Evelyne Gomez-Liechti said market testing of hike expectations is reasonable, though some ECB officials remain cautious and have not ruled out further tightening. Economists say if next week’s euro-area inflation prints meet forecasts, June YoY headline inflation would ease to about 3.1% from May’s 3.2%, further reducing pressure on policymakers.

美國商品期貨交易委員會（CFTC）：截至6月23日當週，投機者將CBOT美國2年期國債期貨淨空頭頭寸增加48,339手合約，至1,318,846手合約。投機者將CBOT美國10年期國債期貨淨空頭頭寸減少75,816手合約，至835,266手合約。