Holly Thompson

Rising Middle East tensions sent oil prices and bond yields higher, reviving rate hike expectations on both sides of the Atlantic. Despite growing geopolitical and inflation concerns, currency markets remained relatively calm, supporting higher-yielding currencies.

June closed with falling mega-cap tech stocks, renewed Middle East tensions and a weaker US dollar after disappointing jobs data. Sterling gained ground as markets navigated geopolitical and economic uncertainty.

Global markets wobble as a tech selloff hits AI valuations and “higher-for-longer” rates weigh. Oil plunges on rising supply, easing inflation fears. FX softens, commodities slip, and UK political shifts add cautious uncertainty.

Global equity markets moved higher and oil tumbled, but FX was more muted as markets reacted to the US–Iran peace deal. However, the USD later hit a one-year highs after US Federal Chair Kevin Warsh kept rates on hold in his highly anticipated debut.

World Cup kickoff meets market gridlock: energy-driven inflation keeps hawks in play, while tentative US–Iran deal hopes spark risk-on swings—lifting equities, easing oil, and leaving FX stuck as central banks gear up for key decisions.

Dollar strength persists on resilient US data and geopolitics. Strong payrolls dampen rate-cut hopes, equities lose momentum, oil supports inflation, volatility stays low, Japan signals FX intervention, and a packed central bank calendar looms.