Market News - Gold, Oil & Forex

After years of delays, Australia's largest undeveloped oil project could progress to a final investment decision in 2027 as the energy crisis amid the Iran war has heightened the need of homegrown resources. Carnarvon Energy Ltd, a junior explorer that holds 10% in the Dorado oil discovery offshore Western Australia, believes that a final investment decision to develop the project could be made in late 2027, Carnarvon's chief executive Philip Huizenga told Bloomberg in an interview on Friday....

Dollar strengthened broadly in early US session after a much stronger-than-expected US employment report reinforced confidence in the resilience of the labor market. Non-farm payrolls rose 172k in May, nearly double expectations, while April’s gain was revised sharply higher to 179k. Unemployment held steady at 4.3%, and wage growth remained contained, with average hourly earnings […] The post Dollar Rises as Strong Payrolls Reinforce Fed Patience, USD/JPY Clears 160 appeared first on...

Mixed news from the Middle East is helping the greenback. Growing similarities with the 1970s for the Fed. The US dollar has recovered after Donald Trump said negotiations with Iran are in their final stages. This contradicts Tehran’s statement that talks with Washington have made no progress and Hezbollah’s refusal to comply with the US-imposed […] The post Dollar: Is History Repeating Itself? appeared first on ActionForex.

Malaysia's crude and condensate production dropped by 5.5% from a year earlier to 43 million barrels in the first quarter of 2026, due to a slump in crude output, the Department of Statistics Malaysia (DOSM) said on Friday. Crude oil production dipped by 9.4% to 28.1 million barrels in the first quarter, down from 31.5 million barrels for the same period of 2025, the data showed. Condensate output increased by 3% to 14.9 million barrels, up from 14.4 million barrels in the first quarter of...

Japan’s latest reserve data have transformed the debate around the Yen. The question is not whether Tokyo is willing to intervene. It already has. The question now is how many times it is willing to do so. Data released on Friday showed Japan’s foreign reserves fell by around USD 75 billion in May. The decline […] The post Intervention or Surrender? How Far Is Japan Willing to Draw on Its $1.3 Trillion War Chest? appeared first on ActionForex.

The Eurozone economy contracted in the first quarter of 2026. GDP fell by -0.2% qoq, reversing the 0.2% expansion recorded in the previous quarter, while annual growth slowed sharply to 0.3% yoy from 1.2% yoy. Across the broader EU, GDP declined by -0.1% qoq, with annual growth easing to 0.7% from 1.4%. The details suggest […] The post Eurozone Economy Contracts -0.2% qoq in Q1 as Trade and Investment Drag Growth Lower appeared first on ActionForex.

Key takeaways EUR/USD remains resilient ahead of the US Nonfarm Payrolls report, supported by expectations that the European Central Bank will maintain a more aggressive tightening path than the Federal Reserve despite weak Eurozone growth. Interest-rate expectations are becoming increasingly supportive for the euro, with the Eurozone-US policy rate differential narrowing as markets price additional […] The post Chart Alert: EUR/USD Finds Support as ECB Hawkishness Offsets Fed Strength Ahead of...

Fundamental backdrop In April 2026, the closure of the Strait of Hormuz pushed Brent prices to their highest levels per barrel since 2022. However, diplomatic developments reversed the market’s direction: by the end of May, prices had fallen by around 19% - the worst monthly performance since the pandemic - amid ceasefire negotiations between the […] The post Brent: The Downtrend Begins to Crack appeared first on ActionForex.

Norway has narrowly avoided a strike at offshore oil platforms after trade unions and oil companies reached an agreement on wages in the early hours on Friday. The potential strike over wages could have threatened smooth operations offshore Norway, Western Europe's top oil and gas producer, at a time when the world is scrambling for oil and gas supply amid the Middle East crisis. Almost 8% of oil and gas workers offshore Norway early this week threatened to go on a strike from June 5 if trade...

EUR/USD was trading at 1.1613 on Friday. As the week draws to a close, the US dollar remains on track to post gains, supported by ongoing uncertainty in the Middle East and continued demand for safe-haven assets. US President Donald Trump stated that negotiations aimed at resolving the conflict are approaching their final stage and […] The post EUR/USD: All Eyes on Non-Farm Payrolls appeared first on ActionForex.