Market News - Gold, Oil & Forex

•    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...

Key Highlights Gold started a fresh decline below the $4,265 support. A major bearish trend line is forming with resistance at $4,350 on the 4-hour chart. WTI Crude Oil extended losses and traded below $78. EUR/USD might continue to move down if it drops below 1.1400. Gold Price Technical Analysis Gold failed to surpass $4,380 […] The post Gold Advance Looks Vulnerable as Market Sentiment Shifts appeared first on ActionForex.

Japan’s private sector gained momentum in June, with the Flash Composite PMI Output Index rising from 51.1 to 52.5, the strongest reading since the outbreak of conflict in the Middle East. Growth was broad-based, with the Services PMI Business Activity Index improving from 50.0 to 51.8. Manufacturing remained firmly in expansion territory as the Manufacturing […] The post Japan PMI Growth Accelerates as Manufacturing Boom Extends appeared first on ActionForex.

Australia’s private sector showed tentative signs of stabilization in June, with the S&P Global Flash Composite PMI Output Index rising from 48.7 to 49.8. The improvement was driven primarily by services, where the Business Activity Index increased from 48.7 to 49.9. Manufacturing PMI edged up from 50.7 to 51.2. However, manufacturing output remained subdued, slipping […] The post Australia Composite PMI Climbs Toward Growth, But Demand Remains Weak appeared first on ActionForex.