Oil prices briefly surged to five-month highs as investors anxiously awaited a potential Iranian response to U.S. strikes on its nuclear facilities.
The U.S. dollar was poised for its largest weekly gain in over a month on Friday, driven by heightened geopolitical tensions in the Middle East.
The total market capitalisation of stablecoins soared to a record high on Wednesday, reaching $251.7 billion, according to CoinDesk data.
Gold slipped to around $3,370 per ounce on Wednesday during the Asian trading session at the time of writing, as a stronger U.S. dollar outweighed safe-haven demand sparked by escalating geopolitical tensions.
On Monday, 23 June, the UK Composite PMI Flash (June) will be released at 08:30 GMT, followed by the U.S. Composite PMI Flash (June) at 13:45 GMT.
The Bank of Japan (BOJ) kept interest rates unchanged on Tuesday, maintaining its short-term policy rate at 0.5% following a unanimous vote at the conclusion of its two-day meeting.
Gold prices edged closer to a record high as rising tensions between Israel and Iran spurred demand for safe-haven assets.
Oil prices surged over 7% during Friday Asian session, reaching multi-month highs after Israel confirmed it had launched a strike on Iran.
Gold climbed toward $3,370 per ounce on Thursday, driven by renewed safe-haven demand amid rising US-Iran tensions and soft US inflation data.
From Monday, 16 June to Wednesday, 18 June 2025, key data includes China’s May unemployment rate (expected unchanged at 5.1%, 02:00 GMT) and a rebound in the NY Empire State Manufacturing Index (forecast 4, 12:30 GMT).
The U.S. inflation rate increased by 0.2% month-over-month (MoM) in April, with the same growth expected in May.
The U.K. unemployment rate stood at 4.5% in March, with forecasts indicating it will remain unchanged at 4.5% for April. Meanwhile, employment change rose by 11,000 in March, and expectations for April point to a significantly higher increase of 80,000.
Gold prices slipped to around $3,295 per ounce on Monday during the Asian trading session at the time of writing, marking a third straight session of decline and the lowest level in a week.
The upcoming U.S. labor market data for May points to a cooling but stable economic environment. This data is set to be released today at 12:30 GMT.
The European Central Bank is widely anticipated to deliver another 25-basis point rate cut in June as it balances slowing inflation against persistent global trade risks.
The European Central Bank's last interest rate decision set the benchmark at 2.4%. Market expectations suggest a potential rate cut to 2.15% at the upcoming meeting. This data is set to be released today at 12:15 GMT.
The U.S. ADP Employment Change registered a modest 62,000 increase in April, notably below historical averages and market expectations.
A busy week of key economic data kicks off on Monday, 9 June, with China’s inflation rate (01:30 GMT) and trade balance (03:00 GMT).
CrowdStrike (CRWD) is set to release its first-quarter fiscal 2026 results today. The company projects revenue between $1.1006 billion and $1.1064 billion for the quarter, reflecting a year-over-year increase of 19.92%. For the same period, CrowdStrike anticipates non-GAAP earnings per share in the range of 64 to 66 cents.
Investor sentiment whipsawed on Thursday following conflicting U.S. court rulings on former President Donald Trump’s tariffs.
