Author: FX
Gold (XAU/USD) rebounds on Thursday after the US Personal Consumption Expenditures (PCE) Price Index came broadly in line with market expectations. At the time of writing, XAU/USD trades around $4,026 after hitting a more than seven-month low of $3,959 on Wednesday. The US Bureau of Economic Analysis reported that core PCE rose to 3.4% YoY in May from 3.3% in April. On a monthly basis, Core PCE was unchanged at 0.3%. Headline PCE accelerated to 4.1% YoY from 3.8%, marking its highest annual reading since April 2023.Traders focused on the stable core PCE reading, the Federal Reserve’s (Fed) preferred inflation…
’A close call’: BofA Global Research drops BoE rate hike forecast on easing inflation Source link
Israel has pulled back from part of its buffer zone in southern LebanonIsraeli pullback is an act of “good faith” toward Lebanon’s governmentLebanese armed forces should now move into the area from which Israel withdrewIsrael has withdrawn from part of its self-declared buffer zone in southern Lebanon in what a US official described as a gesture of “good faith” toward the Lebanese government, marking a potentially important step in efforts to stabilize the Israel-Lebanon front. The partial pullback comes under a US-backed framework aimed at reducing tensions along the border.The move is especially significant because continued Israeli military operations in…
US Secretary of State Marco Rubio criticizes Iran for considering a tolling system near the Strait of Hormuz, a critical chokepoint to all 20% of global energy supply, saying, “Hormuz tolling would set an unacceptable precedent” during the European trading session on Thursday.RemarksHormuz tolling would set an unacceptable precedent.You can call it a toll, you can call it a fee, at the end of the day, it’s all semantics.We won’t accept that Hormuz belongs to any nation state.We don’t want a deal with Iran at any price.Hope to have a positive outcome with Iran.We want to ensure that any decision…
Two major earthquakes strike Venezuela, killing at least 32 and injuring hundreds Source link
Australia’s labour market delivered a stronger-than-expected performance in May 2026, with the economy adding 40,300 jobs and the unemployment rate falling to 4.4%. Source link
Gold finally cracked below $4,000 this week, leaving the metal down about 29% from its January 29, 2026 record high of $5,595. A hawkish Fed, still elevated real yields, and the slow fade of the Middle East risk premium all showed up at the same time, and gold bulls didn’t have much room to argue. Now the chart has a pretty simple job. Either a long-term structural floor holds and buyers try to steady the ship, or this selloff still has more downside work to do. Source link
Bitcoin slid with chip stocks, but nearby support and a key inflation print could decide whether buyers get a bounce. Source link
The May 2026 flash PMI data reveal a fractured global economy: manufacturing holds up while services falter, and a war-driven inflation surge complicates the picture for central banks and forex traders alike. Let’s break down the numbers to see what they’re all implying about the global economy and its outlook. What Actually Is a Flash PMI? PMI stands for Purchasing Managers’ Index. Every month, S&P Global surveys hundreds of purchasing managers at private companies across more than 30 economies. These managers sit close to the economic action because they place orders before production starts, so their responses tend to move…
Summary:IRGC Navy rejected the Omani-IMO Hormuz transit framework, calling the proposed route unacceptable and a serious safety risk, giving oil a brief pop though rising traffic through the strait remains the dominant price weightBOJ board member Tamura called for rate hikes every few months toward a 2% neutral rate, said underlying inflation has already reached 2%, and warned the BOJ should not hesitate to accelerate if upside price risks heightenAustralia added 40,300 jobs in May and unemployment fell to 4.4%, but the April revision to minus 40,700, a part-time-heavy composition and a 1.1% fall in hours worked tempered the headline;…