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Global markets opened with a cautious tone as oil prices slipped despite lingering supply concerns, weighing on broader commodity sentiment. Across FX, price action remained mixed, with the Japanese Yen turning cautious amid fiscal and political uncertainty, the Australian Dollar holding near multi-month highs, and Asian currencies steady as traders monitored policy signals from China and ongoing global macro risks.
Gold is trading under pressure, drifting lower as markets increasingly price in persistent inflation and a more hawkish stance from major central banks.
Silver is weakening alongside gold, with bearish momentum pushing prices toward the $74.00 level.
The Australian Dollar is weakening as risk-off sentiment boosts the US Dollar.
NZD/USD is attempting a mild recovery near 0.5900 but remains vulnerable amid USD strength and geopolitical risks.
WTI crude oil is rallying toward the $100 mark, driven by supply concerns and escalating tensions in the Middle East.
Markets remain on edge as persistent inflation concerns and hawkish central bank expectations keep the US Dollar strong, weighing on gold, silver, and risk-sensitive currencies like AUD and NZD, while escalating geopolitical tensions, particularly around the Strait of Hormuz, continue to drive oil prices higher toward the $100 mark; moving forward, traders will closely watch US inflation data, Federal Reserve signals, and Middle East developments, with volatility likely to persist as downside risks dominate metals and risk assets, while energy markets stay supported unless tensions ease.
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