Market News - Gold, Oil & Forex

EUR/USD closed at 1.1640, showing resilience amid mixed signals. Easing US-Iran tensions initially pressured the dollar, but persistent inflation concerns and political ratification hurdles are keeping the greenback surprisingly steady.

(RTTNews) - Crude oil prices have tumbled on Friday as expectations of the U.S. and Iran signing a Memorandum of Understanding run high. The MoU would allow for immediate reopening of the Strait of Hormuz and pave the way for the resumption of oil and energy trade.

The USD/JPY pair is showing signs of upside exhaustion, struggling to overcome the 159.65 resistance level and trading below a key bullish trend line. This technical setup raises concerns about a potential pullback in the near term.

The EUR/USD faces headwinds as core US PCE inflation unexpectedly rose to 3.3% year-over-year, reinforcing a 'higher for longer' interest rate narrative. Meanwhile, a US-Iran ceasefire extension boosted global risk appetite, potentially drawing capital away from safe-haven currencies.

Switzerland's KOF Economic Barometer edged up to 98.0 in May, signaling a stabilization in the economic outlook, though remaining below its long-term average. This cautious optimism contrasts with recent global uncertainties.

EUR/USD stabilized around 1.1640 as reports of a US-Iran ceasefire extension and potential Strait of Hormuz reopening eased inflation fears. However, the US Dollar's resilience suggests lingering caution among forex traders.

(RTTNews) - Gold prices have soared on Friday amid rising optimism about an end to the Middle East war with the chances of reopening of the Strait of Hormuz and resumption of oil and energy trade growing stronger.

Elusive US-Iran deal keeps inflation fears alive amid resilient risk appetite. US jobs data to take spotlight as hawkish Fed soundbites grow. Eurozone flash CPI to be eyed too as ECB preps for June rate hike. But will the yen steal the show as it re-enters 160 zone? US-Iran Drama Keeps Traders Gripped It’s been […] The post Week Ahead – NFP Report and Eurozone CPI to Test US-Iran Optimism appeared first on ActionForex.

Oil markets have stabilised lower for now and global equity markets have rallied this week on the back of renewed optimism around a deal in the Middle East. On Thursday afternoon, media reports emerged that the US and Iranian negotiators had settled on a Memorandum of Understanding (MOU) that would extend the ceasefire by 60 […] The post Weekly Focus – Optimism Around Iran Deal Lifts Market Sentiment appeared first on ActionForex.

USD/JPY's ascent has stalled just shy of the 159.65 resistance level, leading to concerns of a potential pullback. The pair has broken below a key bullish trend line, signaling a shift in momentum for traders to monitor.