JP Morgan revises Fed forecast and now expects rate hikes in September and December.

According to TASNIM NEWS, the Houthi-backed Sanaa government’s foreign ministry warned Saudi Arabia that failure to recognise recent battlefield shifts—including heavy defeats of its proxies on Yemen’s west coast—will push Riyadh toward defeat. The ministry said limited Yemeni armed forces operations in several west-coast towns have restored normalcy and asserted that Yemen has freed itself from Saudi control. It added that for Saudi Arabia, stopping hostilities and choosing peace is the least costly option.

At the night-session close (02:30), Shanghai most-active gold contract fell 0.04% to 942 yuan/gram; silver rose 0.49% to 15,723 yuan/kg; SC crude oil rose 4.96% to 850 yuan/barrel.