Market News - Gold, Oil & Forex

Electric vehicle sales, increasingly featuring Chinese vehicles, led an overall increase in car sales in Europe last month, with gasoline and diesel cars booking declines amid higher prices at the pump. Car registrations, as reported by the European Automobile Manufacturers’ Association, gained 3.6% in May, with the sales increase over the first five months of the year at 4.5%, Reuters reported. Earlier figures, released by E-Mobility and New Automotive, showed a strong, 34% annual increase in...

The U.S. issued a sweeping rollback of sanctions on Iranian oil, offering Tehran an economic lifeline as negotiations toward a peace deal proceed.

The Eurozone economy showed further signs of stabilization in June, with the Flash Composite PMI Output Index rising from 48.5 to 49.5, its highest level in three months. While the reading remained just below the 50 threshold that separates expansion from contraction, it pointed to a significant easing in the downturn. Services activity improved notably, […] The post Eurozone PMI: Economy Stays Out of Recession as Services Recover appeared first on ActionForex.

•    Geopolitics has stripped the US dollar’s rivals of their key advantages. •    Oil prices may return to pre-conflict levels sooner than expected. The US dollar is extending its lead in the forex market, driven by confidence in the Fed’s monetary tightening. Bank of America believes the Fed will raise rates three times in 2026 […] The post Brent: How Long Will It Take to Reach $70? appeared first on ActionForex.

The UK will have sufficient electricity supply this winter despite the Strait of Hormuz crisis, NESO, the country’s grid operator, said today. “While we will continue to monitor global energy markets, households and businesses can be confident that electricity supplies remain secure,” NESO’s head of whole energy system resilience, Deborah Petterson, said in a statement, as quoted by Reuters. The UK has, in recent years, become increasingly dependent on imported oil and gas as several successive...

The British pound remains under pressure following increased political uncertainty in the United Kingdom triggered by the Prime Minister’s resignation. Investors are assessing potential shifts in the political and economic policy outlook after the head of government stepped down, including implications for fiscal spending, taxation policy, and economic support measures. The uncertainty surrounding the future […] The post Pound at Key Levels: Markets Assess Impact of Political Uncertainty in the...

Silver came under pressure following the Federal Reserve’s June meeting, at which policymakers kept interest rates unchanged at 3.50–3.75%. Nine of the 18 committee members still see the possibility of a rate increase this year, reinforcing expectations of further monetary tightening. The prospect of rising real yields reduces the appeal of non-interest-bearing assets such as […] The post Silver: Fed Tightens Its Tone as Price Returns to the Volume Profile Zone appeared first on ActionForex.

In focus today In the euro area, June flash PMIs are released. Most respondents will likely have answered after the US-Iran deal, yet the impact of lower oil prices is unlikely to already show up in activity data. We expect manufacturing to edge down to 50.9 (May: 51.6), while we expect services to see a […] The post Big Day of PMIs Ahead appeared first on ActionForex.

Crude oil prices extended their decline today, with Brent crude sliding to $77.51 per barrel at the time of writing, and West Texas Intermediate at $73.62 per barrel, on reports that the United States and Iran were making progress in their peace talks. The latest updates from the negotiations table include a report that the United States will waive sanctions on Iran’s oil industry for the 60-day duration of the cessation of hostilities agreed earlier this month. The two parties also agreed on a...

As USD/JPY marched crept closer to 2024’s 38-year highs, traders knew they were entering territory where Tokyo becomes increasingly uncomfortable. That sensitivity was evident when Japan’s Finance Minister Satsuki Katayama revealed she had held talks with U.S. Treasury Secretary Scott Bessent. The pair dipped briefly on the news, but the move quickly lost momentum. The […] The post Katayama-Bessent Talks Trigger Mild USD/JPY Pullback, But Intervention Fears Stay Contained appeared first on...