Timelines
Month-by-month causal timelines showing what drove each subject up or down.
What's driving markets right now — the full picture, every 3 days. Fast, free.
Sign upCommodities & Metals
MAY 1 – MAY 31, 2026
MAY 18
🇮🇷 Conflict Escalation
2026-05-11
🌍 Energy Price Rise
2026-05-11
Conflict escalation disrupts oil supply, raising energy prices globally.
🇺🇸 Inflation Rise
2026-05-15
Higher energy costs increase production and transportation expenses, pushing up overall prices.
🇺🇸 Treasury Yield Rise
2026-05-18
Rising inflation expectations lead to higher bond yields as investors demand more return.
GOLD PRICE ▼
2026-05-18
Higher interest rates make bonds more attractive than gold, reducing demand and lowering prices.
🇮🇷 Nuclear Program Freeze
2026-05-18
GOLD PRICE ▲
2026-05-18
Hopes of Iran nuclear deal reduce geopolitical tensions, boosting gold as a safe haven.
🇺🇸 Sanction Removal
2026-05-18
GOLD PRICE ▲
2026-05-18
Hopes of US lifting sanctions on Iran boosted gold prices as geopolitical tensions eased.
MAY 1 – MAY 31, 2026
MAY 18
🇺🇸 Treasury Yield Rise
2026-05-18
SILVER PRICE ▼
2026-05-18
Rising Treasury yields strengthen the dollar, making silver more expensive for other currency holders.
🌍 Energy Price Rise
2026-05-15
🇺🇸 Inflation Rise
2026-05-15
Higher energy costs increase production and transportation expenses, pushing up overall prices.
🇺🇸 Interest Rate Rise Expectation
2026-05-15
Rising inflation leads to expectations that the Fed will raise interest rates.
🇺🇸 Us Dollar Strength
2026-05-15
Expectations of higher Fed rates strengthen the dollar by attracting foreign investment.
SILVER PRICE ▼
2026-05-18
A stronger US dollar makes silver more expensive for foreign buyers, reducing demand and prices.
🇮🇷 Conflict Escalation
2026-05-11
🌍 Energy Price Rise
2026-05-11
Conflict escalation disrupts oil supply, raising energy prices globally.
🇺🇸 Inflation Rise
2026-05-15
Higher energy costs increase production and transportation expenses, pushing up overall prices.
🇺🇸 Interest Rate Rise Expectation
2026-05-18
Rising US inflation leads traders to expect the Fed may raise interest rates.
SILVER PRICE ▼
2026-05-18
Expectations of tighter Fed policy strengthen the dollar, making silver more expensive for other currency holders.
MAY 1 – MAY 31, 2026
MAY 21
🌍 Tech Stock Rise
2026-05-21
COPPER PRICE ▲
2026-05-21
Rising tech stocks boosted demand expectations for copper used in data infrastructure.
MAY 18
🇨🇳 Economic Growth Decline
2026-05-18
COPPER PRICE ▼
2026-05-18
Weakness in China's economy reduces demand for copper, pushing prices down.
🇮🇷 Military Strike
2026-05-18
🌍 Energy Price Rise
2026-05-18
Initial attacks in the Iran war drove oil and gas prices sharply higher.
🌍 Inflation Rise
2026-05-18
Energy price shock from Middle East raises costs, pushing overall inflation higher.
🌍 Interest Rate Rise Expectation
2026-05-18
Higher oil prices raise inflation, leading to expectations of interest rate hikes.
COPPER PRICE ▼
2026-05-18
Higher interest rates are expected to slow economic growth, reducing demand for industrial metals like copper.
MAY 1 – MAY 31, 2026
MAY 19
🇨🇳 Economic Growth Decline
2026-05-19
IRON PRICE ▼
2026-05-19
Slowing economic activity in China reduces steel demand, lowering iron ore prices.
🌍 Iron Ore Supply Rise
2026-05-19
IRON PRICE ▼
2026-05-19
Increased iron ore supply adds to downward pressure on prices.
🇨🇳 Steel Demand Decline
2026-05-19
IRON PRICE ▼
2026-05-19
Slowing Chinese economy weakens steel demand, reducing need for iron ore, pushing prices down.
Energy
MAY 1 – MAY 31, 2026
MAY 21
🇮🇷 Military Tensions
2026-05-21
OIL PRICE ▲
2026-05-21
Escalating US-Iran tensions raised fears of supply disruptions, pushing oil prices higher.
🇺🇸 Geopolitical Tension Easing
2026-05-21
OIL PRICE ▼
2026-05-21
Easing geopolitical concerns reduced risk premium, leading to lower oil prices.
🇮🇷 Diplomatic Negotiation Progress
2026-05-21
OIL PRICE ▼
2026-05-21
Optimism over Iran peace talks raised hopes of resumed oil flows, pushing prices down.
MAY 1 – MAY 31, 2026
MAY 20
🕌 Military Strike
2026-05-18
🕌 Supply Disruption
2026-05-18
Military strikes on energy facilities disrupted shipments, tightening supplies and raising heating oil prices.
GAS PRICE ▲
2026-05-20
Supply disruptions in the Middle East reduce global LNG supply, pushing UK natural gas prices higher.
MAY 19
🇺🇸 Military Strike Postponement
2026-05-19
GAS PRICE ▼
2026-05-19
Postponing the strike eased supply disruption fears, lowering natural gas prices.
🇮🇷 Nuclear Program Suspension
2026-05-19
GAS PRICE ▼
2026-05-19
Iran's nuclear suspension eased supply disruption fears, lowering UK natural gas prices.
Zones
MAY 1 – MAY 31, 2026
MAY 21
🇮🇷 Military Strike
2026-05-20
🌍 Oil Price Rise
2026-05-20
The Iran conflict raises fuel costs, which increases production costs for rice, pushing prices up.
INFLATION ▲
2026-05-21
Higher oil prices increase production and transport costs, leading to higher overall prices.
🇩🇪 Geopolitical Uncertainty
2026-05-21
DEMAND ▼
2026-05-21
Geopolitical uncertainty made customers hesitant, reducing demand and causing new orders to decline.
🇩🇪 Economic Uncertainty
2026-05-21
DEMAND ▼
2026-05-21
Economic uncertainty made customers hesitant, reducing demand and causing new orders to decline.
MAY 1 – MAY 31, 2026
MAY 21
🇩🇪 Geopolitical Uncertainty
2026-05-21
DEMAND ▼
2026-05-21
Geopolitical uncertainty made customers hesitant, reducing demand and causing new orders to decline.
🇩🇪 Economic Uncertainty
2026-05-21
DEMAND ▼
2026-05-21
Economic uncertainty made customers hesitant, reducing demand and causing new orders to decline.
🕌 Fuel And Energy Cost Rise
2026-05-21
INFLATION ▲
2026-05-21
Higher fuel and energy costs increase production expenses, leading to higher prices for goods and services.
Countries
MAY 1 – MAY 31, 2026
MAY 21
🇮🇷 Military Strike
2026-05-20
🌍 Oil Price Rise
2026-05-20
The Iran conflict raises fuel costs, which increases production costs for rice, pushing prices up.
INFLATION ▲
2026-05-21
Higher oil prices increase production and transport costs, leading to higher overall prices.
MAY 20
🇮🇷 Military Strike
2026-05-15
🌍 Oil Price Rise
2026-05-15
The Iran war and Trump's remark disrupted oil supply, pushing prices higher.
🌍 Inflation Concern
2026-05-18
Higher oil prices increase production costs, fueling inflation concerns.
TREASURY YIELD ▲
2026-05-20
Inflation concerns make bonds less attractive, pushing yields up.
MAY 19
🇮🇷 Military Strike
2026-05-18
🌍 Energy Price Rise
2026-05-18
Initial attacks in the Iran war drove oil and gas prices sharply higher.
🌍 Inflation Rise
2026-05-18
Energy price shock from Middle East raises costs, pushing overall inflation higher.
GDP ▼
2026-05-19
Inflation raises costs, reducing spending and investment, which slows economic growth.
MAY 1 – MAY 31, 2026
MAY 21
🇮🇷 Military Strike
2026-05-20
🌍 Oil Price Rise
2026-05-20
The Iran conflict raises fuel costs, which increases production costs for rice, pushing prices up.
INFLATION ▲
2026-05-21
Higher oil prices increase production and transport costs, leading to higher overall prices.
🇩🇪 Geopolitical Uncertainty
2026-05-21
DEMAND ▼
2026-05-21
Geopolitical uncertainty made customers hesitant, reducing demand and causing new orders to decline.
🇩🇪 Economic Uncertainty
2026-05-21
DEMAND ▼
2026-05-21
Economic uncertainty made customers hesitant, reducing demand and causing new orders to decline.
MAY 1 – MAY 31, 2026
MAY 21
🇮🇷 Military Strike
2026-05-20
🌍 Oil Price Rise
2026-05-20
The Iran conflict raises fuel costs, which increases production costs for rice, pushing prices up.
INFLATION ▲
2026-05-21
Higher oil prices increase production and transport costs, leading to higher overall prices.
MAY 20
🌍 Supply Disruption
2026-05-20
INFLATION ▲
2026-05-20
Supply chain disruptions from the Middle East conflict raised costs, pushing up consumer and producer inflation in China.
🇮🇷 Military Strike
2026-05-18
🌍 Energy Price Rise
2026-05-18
Initial attacks in the Iran war drove oil and gas prices sharply higher.
INFLATION ▲
2026-05-20
Higher energy costs increase production and transportation expenses, pushing up consumer and producer prices.
MAY 1 – MAY 31, 2026
MAY 21
🇮🇷 Military Strike
2026-05-20
🌍 Oil Price Rise
2026-05-20
The Iran conflict raises fuel costs, which increases production costs for rice, pushing prices up.
INFLATION ▲
2026-05-21
Higher oil prices increase production and transport costs, leading to higher overall prices.
🕌 Fuel And Energy Cost Rise
2026-05-21
INFLATION ▲
2026-05-21
Higher fuel and energy costs increase production expenses, leading to higher prices for goods and services.
🇫🇷 Input Cost Rise
2026-05-21
INFLATION ▲
2026-05-21
Higher input costs from fuel and energy push up production costs, leading to increased inflation.
MAY 1 – MAY 31, 2026
MAY 21
🇮🇷 Military Strike
2026-05-20
🌍 Oil Price Rise
2026-05-20
The Iran conflict raises fuel costs, which increases production costs for rice, pushing prices up.
INFLATION ▲
2026-05-21
Higher oil prices increase production and transport costs, leading to higher overall prices.
MAY 20
🇬🇧 Energy Price Cap Effect
2026-05-20
🇬🇧 Inflation Decline
2026-05-20
The energy price cap reduced household bills, lowering headline inflation.
TREASURY YIELD ▼
2026-05-20
Slower inflation reduces expectations for interest rate hikes, making bonds more attractive and lowering yields.
🇮🇷 Military Strike
2026-05-15
🌍 Oil Price Rise
2026-05-15
The Iran war and Trump's remark disrupted oil supply, pushing prices higher.
🌍 Inflation Concern
2026-05-18
Higher oil prices increase production costs, fueling inflation concerns.
TREASURY YIELD ▲
2026-05-20
Inflation concerns make bonds less attractive, pushing yields up.
MAY 1 – MAY 31, 2026
MAY 21
🇮🇷 Military Strike
2026-05-20
🌍 Oil Price Rise
2026-05-20
The Iran conflict raises fuel costs, which increases production costs for rice, pushing prices up.
INFLATION ▲
2026-05-21
Higher oil prices increase production and transport costs, leading to higher overall prices.
🇺🇸 Peace Negotiation Progress
2026-05-21
DOLLAR ▼
2026-05-21
Optimism over US-Iran peace talks reduced safe-haven demand for the dollar, causing it to decline.
MAY 20
🇺🇸 Earnings Release
2026-05-20
STOCKS ▼
2026-05-20
Nvidia's earnings report disappointed investors, leading to a decline in stock futures.
MAY 1 – MAY 31, 2026
MAY 21
🇮🇷 Military Strike
2026-05-20
🌍 Oil Price Rise
2026-05-20
The Iran conflict raises fuel costs, which increases production costs for rice, pushing prices up.
INFLATION ▲
2026-05-21
Higher oil prices increase production and transport costs, leading to higher overall prices.
🇮🇷 Diplomatic Negotiation Progress
2026-05-21
🌍 Oil Price Decline
2026-05-21
Optimism over Iran peace talks raised hopes of resumed oil flows, pushing prices down.
BOND YIELDS ▼
2026-05-21
Falling oil prices reduce inflation expectations, leading to lower bond yields.
🇮🇷 Diplomatic Negotiation Progress
2026-05-21
🌍 Oil Price Decline
2026-05-21
Optimism over Iran peace talks raised hopes of resumed oil flows, pushing prices down.
CURRENCY ▲
2026-05-21
Oil price decline reduces import costs for Japan, strengthening the yen.
MAY 1 – MAY 31, 2026
MAY 21
🇮🇷 Military Strike
2026-05-20
🌍 Oil Price Rise
2026-05-20
The Iran conflict raises fuel costs, which increases production costs for rice, pushing prices up.
INFLATION ▲
2026-05-21
Higher oil prices increase production and transport costs, leading to higher overall prices.
MAY 20
🕌 Military Strike
2026-05-15
🌍 Shipping Disruption
2026-05-15
The Middle East war caused shipping disruptions, increasing costs and delays.
INFLATION ▲
2026-05-20
The Strait of Hormuz closure disrupts oil supply, raising oil prices and increasing global inflation.
MAY 19
🇮🇷 Military Strike
2026-05-18
🌍 Energy Price Rise
2026-05-18
Initial attacks in the Iran war drove oil and gas prices sharply higher.
🌍 Inflation Rise
2026-05-18
Energy price shock from Middle East raises costs, pushing overall inflation higher.
GDP ▼
2026-05-19
Inflation raises costs, reducing spending and investment, which slows economic growth.
Currencies
MAY 1 – MAY 31, 2026
MAY 21
🇺🇸 Peace Negotiation Progress
2026-05-21
DOLLAR ▼
2026-05-21
Optimism over US-Iran peace talks reduced safe-haven demand for the dollar, causing it to decline.
MAY 20
🇺🇸 Deal Progress
2026-05-20
DOLLAR ▼
2026-05-20
Hopes for a US-Iran deal reduced safe-haven demand, weakening the dollar.
MAY 18
🌍 Safe-Haven Demand Decline
2026-05-18
DOLLAR ▼
2026-05-18
Reduced safe-haven demand made the dollar less attractive, causing it to decline.
MAY 1 – MAY 31, 2026
MAY 18
🇺🇸 Sanctions Waiver Proposal
2026-05-18
EURO ▲
2026-05-18
US sanctions waiver proposal raised hopes for Middle East peace, boosting euro.
MAY 15
🇮🇷 Conflict Escalation
2026-05-11
🌍 Energy Price Rise
2026-05-11
Conflict escalation disrupts oil supply, raising energy prices globally.
🇪🇺 Inflation Expectation Rise
2026-05-14
Higher energy costs increase production and living expenses, leading to expectations of faster inflation.
🇪🇺 Inflation Rise
2026-05-14
Higher energy prices raise inflation expectations, leading markets to expect ECB rate hikes.
EURO ▼
2026-05-15
Expectation of rate hikes strengthens euro, but here euro fell due to war damage concerns.
MAY 13
🇺🇸 Trade Talk Uncertainty
2026-05-13
EURO ▼
2026-05-13
Stalled US-Iran talks create uncertainty, reducing demand for the euro and causing it to fall.
MAY 1 – MAY 31, 2026
MAY 21
🇮🇷 Diplomatic Negotiation Progress
2026-05-21
🌍 Oil Price Decline
2026-05-21
Optimism over Iran peace talks raised hopes of resumed oil flows, pushing prices down.
YEN ▲
2026-05-21
Oil price decline reduces import costs for Japan, strengthening the yen.
MAY 18
🇮🇷 Conflict Escalation
2026-05-11
🌍 Energy Price Rise
2026-05-11
Conflict escalation disrupts oil supply, raising energy prices globally.
🇺🇸 Inflation Rise
2026-05-15
Higher energy costs increase production and transportation expenses, pushing up overall prices.
🇺🇸 Interest Rate Rise Expectation
2026-05-18
Rising US inflation leads traders to expect the Fed may raise interest rates.
YEN ▼
2026-05-18
Expectation of Fed rate hike strengthens dollar, making yen weaker.
MAY 15
🇮🇷 Conflict Escalation
2026-05-11
🌍 Energy Price Rise
2026-05-11
Conflict escalation disrupts oil supply, raising energy prices globally.
🇺🇸 Inflation Rise
2026-05-15
Higher energy costs increase production and transportation expenses, pushing up overall prices.
YEN ▼
2026-05-15
Higher US inflation strengthens the dollar, making the yen weaker.
MAY 1 – MAY 31, 2026
MAY 20
🇬🇧 Energy Price Cap Effect
2026-05-20
🇬🇧 Inflation Decline
2026-05-20
The energy price cap reduced household bills, lowering headline inflation.
POUND ▼
2026-05-20
Lower inflation reduces expectations of rate hikes, making the pound less attractive.
MAY 18
🇬🇧 Political Uncertainty
2026-05-18
POUND ▼
2026-05-18
Political uncertainty made investors sell pounds, causing the currency to fall.
MAY 15
🇬🇧 Political Leadership Challenge
2026-05-15
POUND ▼
2026-05-15
Political uncertainty from a potential leadership challenge reduces investor confidence, weakening the currency.
Interest Rates & Bonds
MAY 1 – MAY 31, 2026
MAY 20
🇺🇸 Diplomatic Negotiation Progress
2026-05-20
TREASURY YIELD ▼
2026-05-20
Progress in US-Iran talks reduces geopolitical risk and inflation fears, lowering demand for safe-haven bonds.
🇮🇷 Military Strike
2026-05-18
🌍 Energy Price Rise
2026-05-18
Initial attacks in the Iran war drove oil and gas prices sharply higher.
BOND PRICE ▼
2026-05-20
High energy prices raise inflation fears, leading to expected Fed rate hikes, which lowers bond prices.
🇺🇸 Military Strike Threat
2026-05-20
🇮🇷 Geopolitical Tension Rise
2026-05-20
Trump's threat to resume strikes on Iran escalates geopolitical tensions.
TREASURY YIELD ▲
2026-05-20
Rising US-Iran tensions increased uncertainty, pushing investors toward safe-haven US Treasuries, raising yields.
Indicators
MAY 1 – MAY 31, 2026
MAY 20
🇮🇷 Military Strike
2026-05-20
🌍 Oil Price Rise
2026-05-20
The Iran conflict raises fuel costs, which increases production costs for rice, pushing prices up.
US INFLATION ▲
2026-05-20
High oil prices increase production and transportation costs, leading to higher overall prices.
🌍 Energy Shock
2026-05-20
US INFLATION ▲
2026-05-20
Higher energy costs from the energy shock add upward pressure to consumer prices.
MAY 18
🕌 Conflict Escalation
2026-05-18
US INFLATION ▲
2026-05-18
Middle East conflict raises energy prices, which increases costs for US consumers and businesses.
MAY 1 – MAY 31, 2026
MAY 20
🇺🇸 Earnings Release
2026-05-20
STOCKS DOWN ▼
2026-05-20
Nvidia's earnings report disappointed investors, leading to a decline in stock futures.
🇮🇷 Diplomatic Negotiation Progress
2026-05-20
🌍 Energy Price Decline
2026-05-20
Progress in Iran talks raised hopes of restored oil exports, lowering energy prices.
STOCKS UP ▲
2026-05-20
Lower energy prices reduce costs for companies, boosting profits and stock prices.
🇮🇷 Conflict Escalation
2026-05-11
🌍 Energy Price Rise
2026-05-11
Conflict escalation disrupts oil supply, raising energy prices globally.
🇺🇸 Inflation Rise
2026-05-15
Higher energy costs increase production and transportation expenses, pushing up overall prices.
🇺🇸 Treasury Yield Rise
2026-05-19
Higher inflation expectations lead investors to demand higher yields on bonds.
STOCKS DOWN ▼
2026-05-20
Higher bond yields make stocks less attractive, leading investors to sell futures.