Central banks have intensified strategic gold purchases amid a price correction, seizing the opportunity to acquire the precious metal at a bargain price.
Signs of stabilization are emerging: tanker movements through the Strait of Hormuz are resuming. Disruptions to oil production in Saudi Arabia are curbing price declines following recent attacks on key oil facilities and pipeline flows.
PCE inflation in the US remains stable, and labor market data is stable. Expectations of an interest rate hike by the Bank of England and a weakening dollar support the pound sterling
The ceasefire between Iran, the U.S., and Israel has indeed been reached, but ironically, the parties forgot to include other countries involved in the conflict in this agreement
Traders remain cautious regarding the durability of the ceasefire after Iran announced violations of three points of the agreement. Data from the U.S. shows conflicting signals: inflation is declining, but growth is slowing.
The yen reacted positively to reports of a two-week ceasefire between the warring parties in the Persian Gulf; however, the strengthening of the yen was limited and quickly halted.
