Stocks Steady & Oil Cools as Iran-Israel Tensions Ease; Gold Slides to Fresh Lows
Markets caught their breath after Friday's jobs-driven sell-off. A cautious de-escalation in the Middle East steadied equities and pulled oil back from an intraday spike. Iran said its military operations against Israel were over and President Trump flagged progress toward a ceasefire. The dollar stayed firm, keeping gold and silver under pressure ahead of Wednesday's US inflation print.
Market snapshot
| Instrument | Level | Move |
|---|---|---|
| Forex | ||
| EUR/USD | ~1.1530 | steadied off lows |
| GBP/USD | ~1.3449 | +0.21% |
| USD/JPY | ~159.92 | little changed |
| Metals & energy | ||
| Gold (XAU/USD) | ~$4,290 | 2½-month low |
| Silver (XAG/USD) | ~$67.3 | ≈ −1.8% |
| Brent Crude | ~$94.25 | +1.25% |
| Indices | ||
| S&P 500 | 7,405.73 | +0.30% |
| Nasdaq Composite | 25,929.66 | +0.86% |
| Dow Jones | 50,786.01 | −0.16% |
Levels are approximate, sourced from public reports around the US session close / early Sydney open. Always check live prices with your broker.
Forex: dollar holds the upper hand
The greenback kept the firm tone it built last week. EUR/USD dipped to the 1.15 handle early in the session as oil-led risk aversion bit, before steadying as ceasefire headlines crossed; the pair sits near recent multi-week lows around 1.1530. GBP/USD edged up about 0.21% to near 1.3449, while USD/JPY was little changed around 159.92. Traders are largely treading water ahead of Wednesday's US CPI and Thursday's ECB decision.
Metals: gold extends its slide
A resilient dollar and higher yields kept the pressure on non-yielding metals. Gold slipped below its 200-day moving average to fresh multi-month lows, touching an intraday trough near $4,268 (its weakest since late March) and erasing its year-to-date gains. Silver opened the week roughly 1.8% lower near $67.3. With markets now pricing a meaningful chance of a Fed hike later this year, this week's inflation data looms large for the metals.
Indices: a cautious bounce
US equities steadied after Friday's rout. The chip-heavy Nasdaq rose 0.86% to 25,929.66 as semiconductor names clawed back ground, and the S&P 500 added 0.30% to 7,405.73. The Dow slipped 0.16% (−80.77 points) to 50,786.01, lagging as the rebound was led by growth and tech. Signs of de-escalation in the Middle East and a halt to the chip sell-off underpinned the modest recovery.
What it means for the day ahead
With a fragile truce in place, attention swings back to data and central banks: Wednesday's US CPI (consensus around 4.2% headline) and Thursday's ECB meeting are the week's key events, alongside an oil market still sensitive to any flare-up. If you're trading any of this, size positions to the still-elevated volatility, since wider ranges mean a fixed lot size carries more risk than usual.
This market wrap is for information and education only and is not financial advice, a forecast, or a recommendation to buy or sell any instrument. Prices and percentage moves are approximate, sourced from public reports, and may be delayed or revised. Trading forex, CFDs and leveraged products carries a high level of risk and may not be suitable for all investors. You can lose more than your deposit. Always do your own research.