Market News - Gold, Oil &amp; Forex

Oil Markets Need More Than a Peace Deal to Recover

The Iran framework agreement gave an immediate boost to markets, with shares rising and oil prices dipping. But whether this translates into durable economic gains will largely depend on shipping in the Strait of Hormuz. There were signs of traffic beginning to revive on June 18 in the hours immediately after the US and Iranian presidents signed a memorandum of understanding to end the war, according to Windward, a maritime intelligence company. Speaking in an online briefing, Windward chief...

FX Forecast Update – USD Strength to Extend Aided by the Fed Re-pricing

Recent developments: more hawkish Fed and lower energy prices Since our last FX Forecast Update on 21 May, a resilient US labour market and signs of persistent underlying inflation have kept US monetary policy repricing at centre stage. At Kevin Warsh’s first meeting as Fed Chair, rates were left unchanged, though the accompanying dot plot […] The post FX Forecast Update – USD Strength to Extend Aided by the Fed Re-pricing appeared first on ActionForex.

Economics Week Ahead

Consumer spending remains resilient, but underlying fundamentals continue to weaken. We expect nominal personal spending to rise at a solid pace in May, largely reflecting higher energy prices, with the PCE deflator accelerating and pushing year-over-year inflation back above 4%, leaving real consumption relatively subdued. At the same time, income dynamics remain soft, with real […] The post Economics Week Ahead appeared first on ActionForex.

Week Ahead – Fed’s Hawkish Tilt and Iran Deal Turn Focus to PCE Inflation and PMIs

US PCE inflation data eyed after Warsh’s surprise hawkish debut. June PMIs in the spotlight too as US-Iran deal eases energy crunch. CPI data for Australia, Canada and Tokyo also on tap. Warsh Signals Change and Higher Rates New Fed Chair Kevin Warsh didn’t waste any time in his first FOMC meeting in prioritizing the […] The post Week Ahead – Fed’s Hawkish Tilt and Iran Deal Turn Focus to PCE Inflation and PMIs appeared first on ActionForex.

Beijing Steps Up Scrutiny of Indium Exports as AI Chip Demand Soars

China has started scrutinizing more carefully its exports of indium, an element that is key to making high-speed chips for AI data centers, raising concerns that export curbs could follow as Beijing has done with other critical minerals. Indium, a silvery-white metal named for its indigo blue line in the atomic spectrum, is not on any of China’s export control lists. But several buyers and customers have flagged to Reuters that they have recently faced increased checks and scrutiny by the...

Dollar Dominates as Markets Ignore Japan Warnings and Look Past Iran Setback

Dollar strength remained the defining theme in currency markets on Friday, although gains slowed somewhat as US markets observed the Juneteenth holiday. Investors continued to digest the Federal Reserve’s hawkish shift earlier this week, which revived expectations for another rate hike this year and left open the possibility of a second if inflation remains stubborn. […] The post Dollar Dominates as Markets Ignore Japan Warnings and Look Past Iran Setback appeared first on ActionForex.

Crypto

Bitcoin Breaks the Channel, ETHereum Fails to Reclaim Support

Market Overview The crypto market has fallen 1.8% over the past 24 hours, to $2.16T, continuing its downward trend after a rebound in the first half of the month. Market capitalisation has once again returned to its 200-week moving average, around which it has been fluctuating for the third consecutive week. We should be prepared […] The post Bitcoin Breaks the Channel, ETHereum Fails to Reclaim Support appeared first on ActionForex.

The Fed Drove the Dollar to Its Previous Peaks

Following the tariffs, investors were also expecting the US dollar to strengthen. The Bank of England has not ruled out a rise in the repo rate. The US dollar has recorded its best two-day rally since the start of the armed conflict in the Middle East. At that time, it rose on strong demand for […] The post The Fed Drove the Dollar to Its Previous Peaks appeared first on ActionForex.

India Orders Major Strategic Oil Reserve Expansion After Supply Crisis

India’s government has asked state-owned Oil and Natural Gas Corp (ONGC) to build and fill a new site for strategic petroleum reserves, with an estimated investment of $1.6 billion, local outlet the Economic Times reported on Friday, quoting sources with knowledge of the plans. The government is looking to boost India’s energy security in the wake of the Iran war and the following oil supply crisis that India felt firsthand, with a soaring energy import bill and rising prices of fuels....

Gold On Track For Third Weekly Loss On Rate Hike Concerns

(RTTNews) - Gold prices fell sharply on Friday and were on track for a third weekly loss amid expectations that central banks including the Federal Reserve will raise interest rates to curb inflation.

Philippines Seeks Long-Term Oil Supply Deal With Russia

The Philippines is looking to formalize a deal to buy oil from Russia on a more permanent basis amid the energy crisis and heightened geopolitical tensions, Philippines President Ferdinand R. Marcos Jr. has said. The Philippines has been one of the worst-hit Asian economies in the current oil supply crisis triggered by the Middle East conflict, and has turned to Russia for ad-hoc spot supply to cover the shortfall of cargoes from the Middle East. Now the Asian country is looking to make the...

ECB’s Lane Says Staying at 2% Was Not an Option, Wunsch Signals Hike Risk

The European Central Bank may have delivered its June rate hike, but its policymakers are already making the case for why the tightening cycle may not be over. Speaking in Paris today, Chief Economist Philip Lane dismissed suggestions that the ECB should have paused this month, arguing that “it would be very hard to make […] The post ECB’s Lane Says Staying at 2% Was Not an Option, Wunsch Signals Hike Risk appeared first on ActionForex.