Gold and the dollar gain. Geopolitics and Powell's speech in the background

In the last few minutes, we're witnessing a widening divergence between gold and the dollar. The metal is testing around $2400 per ounce following news that Israel intends to retaliate against Iran for the latest retaliatory attack. Just yesterday, it seemed that the situation would de-escalate, but it turns out that it may intensify even further. There's also much speculation about additional sanctions on Iran.

On the other hand, we're ahead of Powell's speech, which may incline investors towards buying the dollar. Today, we saw weak real estate market data and solid US industrial production data. Jefferson from the Fed indicated that interest rate cuts should occur this year, but the Fed won't be in rush. Meanwhile, Lagarde announced that interest rate cuts will come fairly quickly. Powell will begin his speech today at 6:15 PM BST.

13 October 2026, 1:02 PM

Market Wrap: European Stocks Rise as Banks Beat Earnings Expectations

13 October 2026, 6:30 AM

Economic Calendar - Start of Wall Street Earnings Season, Hawkish RBA, and Middle East Tensions (13.10.2026)

13 October 2026, 6:10 AM

Morning Wrap: Tech Crash in Asia and Hawkish Central Banks in the Shadow of an Oil Shock (13.10.2026)

12 October 2026, 6:59 PM

Daily Summary: Investors Concerns Rise Ahead of Earnings Season

Forex Commodities Economic reports

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