Foreign Exchange (FX)
- US Dollar Index (DXY): The dollar index remains muted near 99.61 (+0.02%).
Softer US economic prints (including cooler-than-expected inflation metrics) continue to suppress aggressive rate hike expectations, keeping the dollar in a tight range. - EUR/USD: Consolidating around 1.1575 (-0.04%). Buyers continue to hold key support levels, though momentum remains constrained by broader energy market dynamics.
- GBP/USD: Holding steady around 1.3538 (-0.05%), mirroring EUR/USD price action as broader greenback flows dictate direction.
- USD/JPY: Trading near 159.51 (+0.04%). The pair remains elevated near the 160.00 psychological threshold, largely unfazed by softer US data or Bank of Japan policy signals.
Precious Metals (Gold)
- Spot Gold (XAU/USD): Trading near $4,397 / oz (-0.43%), with futures anchored near the $4,450–$4,460 zone.
- Market Drivers: Gold continues to draw baseline support from a softer US dollar and diminished Fed rate hike expectations.
However, gains are being capped by rising benchmark bond yields and elevated crude oil prices.
Energy (Crude Oil)
- WTI Crude: Up 0.67% to $85.07 / barrel.
- Brent Crude: Up 0.53% to $91.35 / barrel.
- Market Drivers: Crude prices are trending upward due to renewed geopolitical uncertainty, expiration of key ceasefires, and ongoing inventory tightness, keeping energy-driven inflation risks on market radar.
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