Market News - Gold, Oil &amp; Forex

Poland Moves To Tax Fuel Windfalls Earned During Iran War

Poland’s government has approved a one-off windfall tax on fuel companies that benefited from soaring energy prices during the U.S.-Iran-Israel war, seeking to recover part of the billions spent protecting consumers from higher fuel costs. The proposed levy would impose a 60% tax on excess profits generated between March and December 2026, during the closure of the Strait of Hormuz. The Polish Finance Ministry estimates the measure will raise around 4 billion zloty (~$1.1 billion). Under the...

Falling Murban and Dubai Prices Open Arbitrage to U.S. and Europe

Crashing prices of Middle East’s key benchmark crudes in the wake of the U.S.-Iran deal have opened arbitrage for shipping oil from the Middle East to the United States and Europe, traders told Reuters on Wednesday. The earlier spot premiums of prices of the Dubai, Murban, and Oman crudes to swaps slumped into discounts this week after the market began pricing in an imminent reopening of the Strait of Hormuz following the tentative U.S.-Iran agreement. As a result of weakening Middle East crude...

Fed Day Arrives: Dot Plot Holds the Key as Markets Await Warsh’s Debut

Markets are entering the Federal Reserve decision with remarkably little uncertainty about what policymakers will do, but considerable uncertainty about what they will signal next. The first FOMC meeting under Kevin Warsh as Chair is widely expected to deliver an unchanged federal funds rate at 3.50%-3.75%, with little chance of dissent. Following Stephen Miran’s departure […] The post Fed Day Arrives: Dot Plot Holds the Key as Markets Await Warsh’s Debut appeared first on ActionForex.

ECB: Iran Peace Deal Won't Erase Europe's Energy Price Shock

Europe will have to contend with the energy price shock for months despite the tentative U.S.-Iran agreement to end the war and reopen the Strait of Hormuz, European Central Bank (ECB) officials said this week. The ECB last week raised key interest rates for the euro area for the first time since 2023 as the Middle East conflict hiked energy prices that have started to feed into core inflation. The ECB raised the key interest rate by 25 basis points to 2.25%, its first hike since 2023. Eurozone...

USD/JPY Analysis: BoJ Tightens the Grip - Will the Yen Reverse Course?

On June 16, the Bank of Japan raised its policy rate to 1.0% (7-1 vote) and confirmed a gradual taper of government bond purchases, settling at a “cruising” pace of ¥2 trillion monthly from April 2027. The message is clear: normalisation continues, as inflation risks remain skewed to the upside of the 2% target. For […] The post USD/JPY Analysis: BoJ Tightens the Grip - Will the Yen Reverse Course? appeared first on ActionForex.

Commodities

Gold Prices Little Changed Ahead Of Fed Verdict

(RTTNews) - Gold prices were little changed on Wednesday after four straight days of gains and ahead of the Federal Reserve's rate decision later in the day.

Bitcoin at $65.5K: Rebound Stalls at the 61.8% Fibonacci Level

Market Overview The crypto market capitalisation has remained steady at $2.26T since Tuesday’s close. Interestingly, such a lull is not being observed in the foreign exchange or equity markets, which refutes the notion of a lull ahead of the new Fed Chair’s first meeting. It appears the recovery rally has lost momentum near the 61.8% […] The post Bitcoin at $65.5K: Rebound Stalls at the 61.8% Fibonacci Level appeared first on ActionForex.

Sterling Slips on UK Inflation Misses, But GBP/CAD Bullish Case Remains Intact

Sterling came under modest pressure after UK inflation data undershot expectations in May, but the report is unlikely to materially alter the Bank of England’s policy outlook or the broader bullish case for some GBP crosses. Headline CPI held steady at 2.8% yoy, below expectations for a rise to 3.0% yoy, while monthly inflation slowed […] The post Sterling Slips on UK Inflation Misses, But GBP/CAD Bullish Case Remains Intact appeared first on ActionForex.

China’s Gasoline Car Market Is Crashing as Fuel Prices Surge

Gasoline car demand in China is slumping on higher fuel prices resulting from the crisis in the Middle East, with gas guzzlers such as Range Rover, fetching discounts of up to 60%, Bloomberg reported, citing Chinese media. The report also cited data from the Chinese Passenger Car Association showing discounts on gasoline cars had almost doubled over the first five months of the year as oil-and fuel-prices crept up. Chinese passenger car sales dropped by over 22% in May, data released earlier...

Brent Crude Oil: Decline Amid US–Iran Ceasefire

The easing of geopolitical tensions in the Persian Gulf following the announcement of a ceasefire between the US and Iran on 14 June remains the main factor weighing on the oil market in recent days. Market participants are increasingly pricing in a scenario of a resumption of full-scale supplies through the Strait of Hormuz in […] The post Brent Crude Oil: Decline Amid US–Iran Ceasefire appeared first on ActionForex.

Gold Surges 2% Since Week Opening Amid Geopolitical Shifts and Fed Expectations

On Wednesday, spot gold (XAUUSD) hovered near 4,342 USD per troy ounce, logging a solid gain of over 2% since the beginning of the trading week. The precious metal continues to find strong fundamental support as global market participants increasingly price in a potential landmark peace agreement between the United States and Iran. The geopolitical […] The post Gold Surges 2% Since Week Opening Amid Geopolitical Shifts and Fed Expectations appeared first on ActionForex.