Daily Market Analysis from ForexMart

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Optimism in Markets: Dollar General, Pinterest, Wells Fargo Stocks Rise to Lift Indexes

US Markets Close Higher as Chip Stocks Lead the Rally
U.S. stock indexes finished Tuesday's session in positive territory, driven by strong gains in chipmakers like NVIDIA. Investors welcomed the momentum, anticipating potential clarity on Washington's tariff policies and the prospect of renewed trade dialogue with key global partners.

Spotlight on Trump and Xi
Both President Donald Trump and China's leader Xi Jinping are expected to deliver remarks later this week, according to a Monday statement from the White House. This comes shortly after Trump accused China of breaching the Geneva agreement — a move he claims justifies the lifting of tariffs and other trade restrictions. Beijing firmly rejected the accusation, calling it unfounded and reaffirming its commitment to defending national interests.

White House Pushes for Trade Proposals by Wednesday
A draft letter circulated among negotiating partners reveals that the Trump administration is urging countries to submit their best trade offers by Wednesday. The move is part of a broader strategy to fast-track discussions and finalize agreements within a tight five-week window.

Markets Rebounded Strongly in May
The easing of harsh trade rhetoric from the White House last month reignited investor appetite for risk. As a result, the benchmark S&P 500 and tech-heavy Nasdaq posted their strongest monthly percentage gains since November 2023, signaling renewed confidence in the markets.

Wall Street Closes Higher with Tech Stocks in the Lead
Tuesday's Market Summary:

Dow Jones Industrial Average climbed 214.16 points (+0.51%) to 42,519.64;
S&P 500 rose by 34.43 points (+0.58%), closing at 5,970.37;
Nasdaq Composite gained 156.34 points (+0.81%), ending the session at 19,398.96.
Tech Sector Powers Ahead
The tech sector once again took center stage, with the S&P technology index (SPLRCT) advancing by 1.5%. Nvidia led the charge, with its shares surging 2.9% amid continued investor enthusiasm over AI developments.

Meanwhile, Broadcom hit a fresh all-time high after announcing it has begun shipping its newest networking chip, designed to supercharge artificial intelligence performance. The company's stock jumped 3.2% in response.

Labor Market Shows Mixed Signals
According to the U.S. Department of Labor, job openings saw an uptick in April, yet the increase in layoffs points to a cooling labor market. Economists view this as a potential consequence of lingering tariff concerns and broader economic uncertainty.

Manufacturing Orders Stumble
Census Bureau data revealed that U.S. factory orders dropped 3.7% in April — a sharp reversal from March's unrevised 3.4% jump. The fall suggests that the one-time boost from pre-tariff stockpiling has run its course.

Eyes on Friday's Jobs Report
Markets are now focused on Friday's upcoming employment data. The report is expected to offer a clearer picture of how escalating trade tensions are impacting the world's largest economy.

Wells Fargo Gains in Extended Trading
Wells Fargo shares closed up 1.2%, but extended trading saw the stock rise an additional 2%, reflecting post-market investor optimism.

Kenvue Stumbles as Retailers Slash Inventories
Shares of Kenvue tumbled by 6%, leading the losses on the S&P 500. The consumer health company revealed at a Deutsche Bank conference that retailers in both the U.S. and China are aggressively clearing out stock. The uncertainty surrounding potential tariffs has led distributors to pull back on inventory levels, putting pressure on the supply chain.

Dollar General Surges After Strong Forecast
Discount retailer Dollar General saw its stock leap 15.8% after the company raised its full-year sales outlook. Quarterly results exceeded expectations, signaling solid demand even in a choppy economic environment. Investors responded enthusiastically to the upbeat revision.

Pinterest Gets a Boost from JPMorgan Upgrade
Pinterest shares climbed 3.8% after JPMorgan upgraded the stock from "Neutral" to "Overweight." The change sparked increased buying, reflecting renewed confidence in the platform's monetization potential.

Reddit Faces Outage, Stock Dips
Reddit stock edged down 1.1% after technical issues disrupted access for more than 29,000 users, according to outage monitoring site Downdetector.com. The incident raised concerns over the platform's reliability.

Airbus Shares Take Flight Amid China Deal Rumors
European stocks posted modest gains Wednesday, supported by a 3.4% rise in Airbus shares. Bloomberg News reported that Chinese airlines may place a large aircraft order as early as next month — a development that energized investors despite broader trade worries.

STOXX 600 Extends Rally as Tariff Fears Ease
The pan-European STOXX 600 index inched up 0.3% by 07:07 GMT, extending its rebound by roughly 15% since early April lows. The positive mood was further buoyed by President Donald Trump's decision to pause broad-based tariffs and secure a trade deal with the United Kingdom.

PMI Data to Offer Insight on Tariff Impact in Europe
Later today, the release of Purchasing Managers' Index (PMI) data for the UK, eurozone, Germany, and France is expected to shed light on how escalating trade tensions have shaped economic performance across the region in May. The readings may provide early signs of whether tariffs are starting to drag on business sentiment and output.

ECB Poised to Cut Rates in Policy Pivot
Investors are closely watching Thursday's European Central Bank meeting, where officials are widely expected to cut interest rates by 25 basis points. If confirmed, this would mark the ECB's first step toward monetary easing — a strategic shift aimed at shielding the eurozone economy from global uncertainty.

U.S. Jobs Report in the Spotlight
On Friday, attention will shift across the Atlantic to the highly anticipated U.S. employment report. The data could prove pivotal in shaping the Federal Reserve's next policy moves, especially as markets try to gauge the balance between slowing growth and inflation risks.

Tech and Mining Lead Gains in Europe
Most sectors in European equity markets posted gains, with technology (SX8P) and mining (SXPP) stocks leading the advance. The upbeat performance suggests renewed appetite for risk among investors seeking value in cyclical industries.

Remy Cointreau Walks Back 2030 Sales Ambitions
Shares of Remy Cointreau dropped 2.6% after the French spirits group scrapped its long-term sales growth target for 2030. The company cited a combination of persistent U.S. underperformance, global tariff pressures, and broader market volatility as key risks undermining its outlook for the coming years.

 

[KostiaForexMart]

Trading Signals for GOLD (XAU/USD) for June 5-9, 2025: sell below $3,387 (21 SMA - 7/8 Murray)

Early in the European session, gold traded around 3,372, showing signs of exhaustion after reaching the weekly high of 3,387. We could expect a technical correction to occur in the coming hours toward the 21SMA or the 7/8 Murray EMA at 3,355.

If the bearish momentum is maintained, gold could continue its decline. To do so, we should wait for confirmation below 3,350, then the price could reach the 200 EMA at 3,277. Around that area, gold left a gap on May 29, and it is likely that it could be filled.

On the other hand, if bullish strength prevails, we could expect a technical rebound around 3,355. This area has provided gold with a good rebounding point in the past, and this time the price could reach the 8/8 Murray at 3,437.

This week, US employment data will be released, which could trigger strong volatility. This, in turn, could cause the price of gold to reach 3,437 or fall towards 3,270.

Our trading plan for the next few hours is to sell gold below 3,387 with a target at 3,359. Around this area, we should wait for a breakout or a technical rebound to occur before making a new decision.

 

[KostiaForexMart]

Gold prices are stable amid optimism about the negotiations between the United States and China

Gold prices rose slightly on Monday, as investors chose not to place large bets in anticipation of the results of trade negotiations between the United States and China. The spot price of gold rose 0.1% to $3,313.54 per ounce, while futures declined 0.4% to $3,333.80.

Three advisers to Donald Trump will discuss trade differences with their Chinese counterparts in London today, which is causing increased nervousness in the markets, and traders are avoiding long positions before negotiations. Although a complete elimination of tariffs is unlikely, the results of the discussions may improve the situation. However, the high cost of doing business in the United States and the growing budget deficit may increase inflationary pressures.

From a technical point of view, analysts expect spot gold to test the support level at $3,296, and a breakdown below this level could lead to a decline to $3,262. Gold is traditionally viewed as a safe haven asset in an environment of uncertainty and low interest rates. According to official data, the central bank of China increased its gold reserves for the seventh consecutive time in May.

At the same time, the spot price of silver rose 0.2% to $36.03 per ounce; platinum rose 1.6% to $1,187.80; palladium fell 0.1% to $1,045.61.

 

[KostiaForexMart]

No News Is Already Good News

Trade negotiations between the United States and China are set to continue for a second day, as both sides aim to ease tensions surrounding technology exports and rare earth elements.

Yesterday, representatives from both countries concluded their first day of talks in London after more than six hours of discussions. The delegations are expected to reconvene today, Tuesday.

"We're doing fine with China. It's not easy with China," President Trump told reporters at the White House on Monday. "I'm only getting good reports."

The U.S. delegation is led by Treasury Secretary Scott Bessent, joined by Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer.

Following the talks, Bessent told reporters that it was a good meeting, and Lutnick called the discussions productive. The Chinese delegation was led by Vice Premier He Lifeng, who left without speaking to the media. He was accompanied by Commerce Minister Wang Wentao and Deputy Minister Li Chenggang, the country's trade representative.

Experts note that Wang has been a key member of President Xi Jinping's entourage on international trips since his appointment in 2020, while Li is a seasoned negotiator who previously served as China's ambassador to the World Trade Organization.

Prior to Monday's meeting, the U.S. signaled its willingness to lift restrictions on the export of certain technologies in exchange for assurances that China would ease its limitations on rare earth exports—elements critical for a wide range of energy, defense, and tech products, including smartphones, fighter jets, and nuclear fuel rods. China currently accounts for nearly 70% of global rare earth production.

This proposed exchange is seen as a delicate diplomatic maneuver in the ongoing tech standoff between the two superpowers. Washington, in urgent need of supply chain diversification, is struggling to find alternative sources of rare earths. In return, lifting tech export restrictions could encourage Chinese companies to enhance their domestic capabilities and reduce reliance on Western suppliers. However, executing such a deal is far from simple. First, the U.S. must be assured that China will follow through on easing rare earth export limits. Second, even if it does, this won't solve America's long-term dependency. Significant investment in domestic mining and processing capabilities is needed, along with building partnerships with other rare earth-rich nations.

Specifically, the Trump administration is reportedly willing to repeal a recent wave of restrictions on the export of chip design software, jet engine parts, chemicals, and nuclear materials. Many of these limitations were introduced in recent weeks amid growing U.S.–China tensions.

When asked about lifting the export bans, Trump sidestepped the question, telling reporters, "We'll see." He added, "China has been ripping off the United States for years," and reiterated, "We want to open China."

EUR/USD Technical Outlook

Buyers now need to push through the 1.1430 level to target a test of 1.1460. From there, a move toward 1.1490 becomes possible, though it would be difficult without the backing of major market players. The ultimate target stands at 1.1530. On the other hand, serious buyer activity is expected only around the 1.1400 level. If absent, it may be worth waiting for a retest of the 1.1361 low or considering long entries from the 1.1314 level.

GBP/USD Technical OutlookPound bulls must overcome immediate resistance at 1.3500 to aim for 1.3545—a level that will be tough to breach. The furthest target is 1.3580. Should the pair decline, bears will attempt to regain control at 1.3473. If successful, breaking below this range would deal a major blow to bullish positions and push GBP/USD toward the 1.3450 low, with potential further downside to 1.3415.
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[KostiaForexMart]

The U.S. and China: A Small Step Forward. What's Next? (Potential for a reversal and decline in EUR/USD and NZD/USD pairs)

Representatives from the United States and China have reached a framework agreement on trade following two days of high-level talks in London. But why isn't there a sense of euphoria in the markets?

The agreements between the delegations followed a phone conversation between Trump and Xi that helped ease tensions between the two countries. A key part of the deal includes China's lifting of restrictions on rare earth metal exports to the U.S., while Washington agreed to ease its recent technology export controls. And that's it. In reality, the agreements addressed only part of the issue and did not fully resolve it. The broader unresolved question is the overall trade relationship between the countries. It appears that investors were hoping for more, which didn't materialize—hence the negative sentiment seen in U.S. stock index futures this morning.

What Can Be Expected from the Markets Now?
Nothing fundamentally new will likely occur. As mentioned, the overall trade issues between China and the U.S. remain unresolved and will probably stay that way until one side claims victory in this economic standoff.

Today, market participants are focused on the upcoming U.S. inflation report. Both headline and core inflation are expected to rise year-over-year.

What Will the Market Reaction Be?
Given that the main issue—the U.S.-China economic conflict—persists, today's inflation release could trigger a negative market reaction. A rise in the Consumer Price Index (CPI) would effectively nullify hopes for a Federal Reserve rate cut in the near future. This could trigger a correction in U.S. equities, which could then spread to global markets. In such an environment, the dollar may become a key beneficiary. It is currently holding above the key support level of 98.00 and is testing levels above 99.00 on the dollar index.

Rising inflation may boost demand for the dollar against other major currencies, especially amid falling inflation in Europe and growing labor market concerns in the UK. These factors both weigh on the euro and pound, key components of the dollar index basket.

U.S. Treasury yields have stabilized in anticipation of the inflation report. The data is expected to shed light on the economic impact of tariffs and broader inflationary trends.

Market Outlook
If inflation data meets or exceeds consensus expectations, this could trigger a corrective wave in equity markets. It may also weigh on demand in the cryptocurrency market. Gold prices may also come under pressure—although geopolitical tensions and the ongoing U.S.-China trade war continue to offer some support.

In this scenario, the dollar will likely be the primary beneficiary, supported by higher inflation and a stable Fed interest rate outlook. This contrasts with the high likelihood of continued rate cuts by the European Central Bank, the Bank of England, and other major global central banks whose currencies are included in the dollar index.

Daily Forecast:
EUR/USD

The pair is consolidating above the 1.1400 support level ahead of the U.S. inflation report. A local downward reversal could occur if the data meets or exceeds expectations. A drop below 1.1400 may amplify bearish pressure, potentially pushing the pair down to 1.1200. A key level for selling the pair is 1.1385.

NZD/USD

The pair is consolidating above the 0.6020 support level in anticipation of the U.S. inflation release. If the data meets or exceeds expectations, a local reversal downward may follow. A move below 0.6020 could intensify the bearish momentum, potentially driving the pair toward 0.5940. A key level for selling the pair is 0.6010.

 

[KostiaForexMart]

XAU/USD. Analysis and Forecast

Gold is currently holding on to its intraday losses. Overall positive sentiment in the stock markets is undermining demand for bullion. However, a combination of factors is preventing bears from taking aggressive positions, helping the metal stay above the key psychological level of $3400.

The continued escalation of geopolitical tensions in the Middle East keeps pressuring market optimism, heightening concerns about global instability. At the same time, the growing expectation that the Federal Reserve will further reduce borrowing costs in 2025 is keeping the U.S. dollar from strengthening. This, in turn, is helping to limit gold's downside.

From a technical standpoint, Friday's breakout above the round $3400 level and positive oscillators on the daily chart favor XAU/USD bulls. Therefore, any further corrective pullback can be seen as a buying opportunity, with downside likely to remain limited around the $3400 level. However, a drop below this level would pave the way for deeper losses toward the $3370 level. A decisive break below this zone would invalidate the constructive outlook, shifting the short-term bias in favor of the bears.

On the other hand, momentum beyond the Asian session high in the $3455–3453 level would allow the precious metal to target a retest of the all-time high at the psychological $3500 level, reached in April. A decisive move beyond that level could act as a new trigger for the bulls, paving the way for an extension of the recently well-established uptrend.
More analytics on our website: bit.ly/3VobLUv

 

[KostiaForexMart]

Middle East Crisis as a Prelude to Global War... (Limited Downside Possible for Bitcoin and EUR/USD)

The missile standoff between the U.S. proxy Israel and Iran continues. Yesterday's unexpected departure of the U.S. president from the G7 summit in Canada sparked speculation that America might engage more directly in the Israeli-Iranian conflict. However, Donald Trump keeps insisting that the conflict must be resolved peacefully.

White House Press Secretary K. Leavitt stated Monday that Trump returned to Washington to "attend to many important matters," but later amended this explanation on social media, linking his departure directly to the Middle East situation. Many market participants interpreted this as a signal that the crisis is escalating to a level where both sides are striking critical infrastructure, prompting speculation that the U.S. might become more involved in supporting its regional proxy. Meanwhile, the president continues to take a hands-off approach, saying he's unaware or uninvolved—only intensifying the negative effects of growing uncertainty.

On these developments, crude oil prices, which had started to correct lower and energy sector stocks, resumed upward movement. Given the likely long duration and potential intensification of the conflict—particularly if Tehran retaliates by striking U.S. military bases or blocking sea trade routes off its coast (especially if aggressive Western nations join the fray)—we may soon see oil prices soar to $100, $150, or even higher. That would deliver a severe blow to Western economies and global trade overall, with all the negative ripple effects such a crisis entails.

Meanwhile, worsening conditions in the U.S. economy may force the Federal Reserve to resume rate cuts, which could drive inflation even higher despite already being far from the 2% target. This conflict could throw the U.S. back into an era of double-digit inflation not seen since the 1970s–80s.

In such a scenario, the U.S. dollar would lose its status as a safe-haven asset, and interest in dollar-denominated assets would fade. At the forefront would be the massive U.S. national debt, which Washington will likely never be able to repay to foreign creditors.

Considering these dynamics, one can conclude that failure to de-escalate the Middle East crisis could soon pull more countries into its orbit and trigger a new world war with catastrophic consequences.

What to Expect in Today's Markets?
Today, investors are focused on the release of U.S. retail sales data. However, it's important to note that markets remain preoccupied with the Middle East. Events unfolding there will continue to dictate risk appetite and asset flows. For now, investors remain hopeful that full-scale war can be avoided, which has so far prevented gold and oil prices from skyrocketing. Stocks, cryptocurrencies, and the U.S. dollar are consolidating in tight ranges. This behavior is likely to continue even after the Fed's policy decision tomorrow, which isn't expected to offer new insight into Chairman Jerome Powell's stance on either internal or external crises.

Forecast for the day:
Bitcoin
BTC continues to trade in a broad but gradually declining range. The wave of negative sentiment—now amplified by Middle East tensions—puts pressure on crypto demand. Bitcoin is likely to fall further. A drop below $106,733 may trigger a move down to $104,129 and possibly to $100,350, which marks the lower boundary of this short-term trend. The sell level to monitor is $106,504.80.

EUR/USD
The pair is surging rapidly. The euro, viewed as an alternative to the dollar, is rising not because of eurozone strength but because investors are fleeing dollar assets amid fears that U.S. involvement in the Middle East conflict could severely undermine the greenback. Markets have essentially abandoned the long-standing notion that the dollar, as the world's reserve currency, offers protection from financial turmoil. However, if the Fed holds policy steady, that might lead to profit-taking, causing a correction in EUR/USD. A drop below 1.1540 could spark further downside toward 1.1420. The key sell level to monitor is 1.1535.

 

[KostiaForexMart]

The main events by the morning: June 18

The Fed meeting will be held today – the markets are waiting for a rate decision. Last time, in March, officials expected an average of two declines in 2025, given the uncertainty surrounding Donald Trump's economic policy. Most observers do not expect changes today either: many members of the regulator tend to maintain previously announced guidelines, despite new risks.

The United States will not impose sanctions against Russia until at least July due to an overloaded international and domestic agenda. At the same time, the sanctions bill on 500% duties for buyers of Russian oil and gas is still being finalized in the Senate. At the same time, exceptions are being considered for countries that support Ukraine but continue to purchase energy resources from Moscow.

The first investment fund for mining cryptocurrencies has appeared in Russia. The Power Systems company has launched a closed–end mutual investment fund Finam - Cryptozavod 1.0 for qualified investors, which allows them to become co-owners of a mining business. A five-year fund with a volume of 850 million rubles or more and a minimum entry amount of 5 million rubles assumes a yield of 49% per annum and a commission of 1% of the asset value.

Consumer prices in the eurozone rose by 1.9% year-on-year in May. The result coincided with the preliminary estimate and the consensus forecast of analysts. This is stated in the report of the statistical office of the European Union, which provided the final data. Thus, inflation slowed down from 2.2% in April.

China is promoting the digital yuan in its quest for a multipolar currency system. An international operations center for the digital yuan will be established in Shanghai, driven by interest in alternatives to the dollar amid trade disputes between the United States and China. Beijing is striving to make the yuan a global reserve currency, but the lack of full convertibility of capital slows down this process.

 

[KostiaForexMart]

The main events by the morning: June 19

Russia and China condemn Israel's actions that violate the UN Charter: the result of a telephone conversation between Putin and Xi Jinping. The two countries have the same position: both leaders are confident that the resolution of the situation in the Middle East cannot be achieved by force, but only by political and diplomatic methods.

Microsoft will lay off thousands of employees amid investments in AI. WSJ reports that the company is planning several thousand layoffs. They will affect sales teams and other departments. The planned staff reduction is taking place against the background of growing investments in AI – in May, about 6 thousand software developers were already laid off.

Platinum has peaked in more than 10 years amid increased demand and supply shortages. Spot prices rose by more than 2%, reaching $1,350.17 per ounce. Since the beginning of the year, the value of platinum has increased by more than 45% due to a shortage of supply and active replenishment of stocks by jewelry manufacturers. There is also a growing interest from Asian buyers, especially from China and India. Tensions in the Middle East are further stimulating purchases of platinum as a safe asset.

The Central Bank of Norway lowered the rate for the first time in 5 years – from 4.5% to 4.25% per annum. This decision by the central bank came as a surprise to analysts and caused a drop in the national currency and government bond yields. The dollar rose by 1.5% against the Norwegian krone, the euro – by 0.9%. At the same time, the yield on ten–year government securities decreased by 10 basis points to 3.95% per annum, which is the lowest since May 12. Norges Bank has kept the rate at its highest level in 15 years since December 2023.

Euro-based stablecoins may start competing with the US dollar by 2028. Experts predict that the weakening of the dollar, which has reached a three-year low, creates opportunities for strengthening the euro as a reserve currency. Currently, the market is dominated by 56 stablecoins pegged to the dollar, against 12 pegged to the euro. And when this gap narrows, more euro-based stablecoins will appear.
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[KostiaForexMart]

Supply risks fuel oil, Asia gains, dollar stays afloat

Night of Escalation: Israel and Iran Exchange Heavy Strikes
Tensions between Israel and Iran surged overnight as Israeli forces launched airstrikes targeting Iranian nuclear facilities. In retaliation, Tehran fired a barrage of missiles and drones at Israeli territory. The air conflict has intensified over the past week, with neither side showing signs of backing down or seeking a diplomatic resolution.

America's Dilemma: Trump to Decide on U.S. Involvement Soon
The White House confirmed that President Donald Trump is expected to announce within the next two weeks whether the United States will intervene in the growing Israel-Iran conflict. The possibility of military involvement has sparked backlash among some segments of Trump's MAGA base, complicating the administration's decision-making process.

Markets on Edge: Investors Turn Cautious Amid Uncertainty
In global markets, caution prevailed. Asian futures for the Nasdaq and S&P 500 fell by 0.3 percent. With U.S. markets closed for the holiday, Asian trading lacked a clear direction.

The MSCI Asia-Pacific index, excluding Japan, edged up by 0.1 percent, yet remains on track for a weekly decline of about 1 percent. Japan's Nikkei index slipped by 0.2 percent.

Global Central Banks: Mixed Signals Across Regions
In China, markets responded modestly to the central bank's decision to keep its benchmark lending rates unchanged, as widely expected. The blue-chip index rose 0.3 percent, and Hong Kong's Hang Seng gained 0.5 percent.

Meanwhile, market watchers see limited chances of the Bank of Japan raising interest rates before December. Current projections place the odds slightly above 50 percent.

In a surprise move, Switzerland's central bank cut rates to zero and left the door open for negative rates in the future. The Bank of England held its policy steady but hinted at the need for more easing ahead. Norway's central bank caught markets off guard by cutting interest rates for the first time since 2020.

Gold Slips as Investors Turn Toward the Dollar
Gold prices edged down by 0.2 percent on Thursday, landing at $3363 per ounce. More notably, the precious metal is on track to post a weekly decline of around 2 percent, reflecting shifting investor sentiment amid global tensions.

Markets in Retreat: Global Stocks Fall, Dollar Gains Ground
Fears of U.S. involvement in the intensifying Israel-Iran air conflict sent shockwaves through global markets. Investors rushed toward perceived safe havens, causing the dollar to strengthen and equity markets to retreat.

Europe's STOXX 600 index declined by 0.6 percent, marking its third consecutive day of losses. Weekly performance dropped nearly 2.5 percent — the sharpest fall since April, when tariffs and trade uncertainty rattled investors.

Wall Street on Hold, But Futures Signal Volatility
U.S. markets remained closed on Thursday for a national holiday, but futures painted a worrying picture. S&P 500 futures dropped nearly 1 percent, indicating growing caution among traders despite the holiday pause.

Oil Surges on Supply Fears Amid Middle East Tensions
Crude oil was once again at the center of market concerns. Mounting fears of supply disruptions from the Middle East pushed oil prices sharply higher. Brent crude rose 2 percent on Thursday, reaching $78 per barrel — its highest level since January — capping a week where prices have jumped by about 11 percent.

Currency Moves: Dollar Rallies as Riskier Currencies Fall
On currency markets, the dollar extended its rally. The euro slid 0.2 percent to trade at $1.1462, while the Australian and New Zealand dollars — typically sensitive to risk sentiment — both dropped around 1 percent.

Fed Holds Rates Steady as Trump Voices Frustration
The U.S. Federal Reserve opted to keep interest rates unchanged on Wednesday, a move that drew criticism from Donald Trump. Despite political pressure, central bank officials reaffirmed their forecast of two potential quarter-point rate cuts by the end of the year but chose to pause for now.

Fed Chair Jerome Powell struck a cautious tone, warning that current trade tariffs, largely driven by Trump's administration, could trigger "significant" inflation down the road. His comments signaled that the Fed is hesitant to proceed with aggressive monetary easing in the near term.

Bank of England: Trade Uncertainty Keeps Growth in Check
Across the Atlantic, the Bank of England also maintained its policy stance on Thursday, leaving interest rates unchanged as widely anticipated. Policymakers noted that ongoing trade tensions continue to act as a drag on the British economy. This outlook put further downward pressure on the pound.

Nordic and Swiss Moves: Diverging Market Reactions
In a surprise to investors, Norway's central bank cut its benchmark rate by 25 basis points, triggering a decline in the value of the krone. The move signaled a shift toward a more accommodative stance amid rising global uncertainty.

Meanwhile, the Swiss National Bank followed expectations by lowering its policy rate to zero. While some had speculated a move into negative territory, the SNB's restraint actually strengthened the franc. The U.S. dollar fell 0.1 percent, settling at 0.8184 francs.

Platinum Soars: Shining as a Gold Alternative
On the commodities front, platinum prices surged to their highest level in nearly 11 years, topping 1300 dollars per ounce. Analysts suggest the metal's appeal has grown as consumers seek a more affordable alternative to gold in a volatile precious metals environment.