According to BlockBeats, U.S. military operations against Iran on July 13 triggered a spike in international crude oil prices and elevated U.S. Treasury yields, while escalating uncertainty in the Strait of Hormuz. The surge in oil prices bolstered inflation expectations, prompting markets to increase bets on further Federal Reserve interest rate hikes. Gold and U.S. equity index futures declined in response.
Markets will focus on U.S. June CPI data, scheduled for release at 20:30 Beijing time on Tuesday, July 14, as it could significantly influence expectations around the Fed's monetary policy trajectory.