
On Wednesday, the Federal Reserve kept interest rates unchanged, but a split vote and concerns about inflation suggest rate cuts may not come soon.
Gold is showing a modest rebound above $4,560 after hitting a fresh monthly low, but gains remain limited due to a stronger U.S. dollar. The dollar continues to rise following a relatively hawkish Federal Reserve stance, with rates held steady but fewer expectations for cuts and even a small chance of a rate hike later this year.
Despite the slight recovery, the overall outlook remains cautious, with traders now focusing on upcoming U.S. economic data and central bank decisions for the next direction in gold prices.
Oil prices surged sharply today, with Brent crude hitting a four-year high above $126 and WTI rising above $110, as fears of renewed conflict between the U.S. and Iran intensified. The spike followed reports that the U.S. military is preparing potential action plans against Iran, while President Trump rejected Tehran’s proposal to reopen the Strait of Hormuz, keeping the naval blockade in place and tightening global oil supply.
U.S. stock futures declined early Thursday as investors reacted to mixed earnings from major tech companies and rising geopolitical tensions. The Dow Jones extended losses after five consecutive down sessions, while the S&P 500 slipped slightly and the Nasdaq was mostly flat. In earnings, Meta dropped sharply on weak user growth and lower-than-expected spending, while Microsoft, Alphabet, and Amazon posted strong results, supporting some optimism around AI and cloud growth.
In the Forex market, EURUSD fell for a third consecutive day, trading near 1.1660, with technical signals pointing to a potential bearish reversal after breaking below its ascending channel.
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