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.

26 June 2026, 6:48 PM

Daily Summary: Will the S&P 500 close the week with a loss❓Find out what drove the market today ⬇️

26 June 2026, 5:59 PM

Three Markets to Watch Next Week: EURUSD, Gold, S&P 500 (26.06.2026)

26 June 2026, 5:14 PM

Fed's Kashkari says AI will force a rate hike; EURUSD and USD reverse early moves ❗

26 June 2026, 1:10 PM

Market Wrap: Declines spread across the European market

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