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Aug 10, 04:10 PM - 08:10 PM UTC

US Monetary Policy in Focus

Market attention is centered on the Federal Reserve's future policy direction ahead of key US Consumer Price Index (CPI) data. Recent weaker-than-expected labor market data has scaled back expectations for a near-term interest rate hike, contributing to US Dollar softness as analysts weigh signs of sideways growth and sticky inflation.

Precious Metals React to Fed Outlook

Gold is holding gains following the weaker US jobs report, though upside appears limited by selling from Commodity Trading Advisors (CTAs). Similarly, silver is struggling to extend its recent rally as traders assess the Federal Reserve's interest rate path amid risks on both sides of its dual mandate.

Geopolitical Tensions Buoy Energy Markets

Oil prices rose amid ongoing uncertainty surrounding the reopening of the Strait of Hormuz, with persistent tensions in the Middle East supporting the energy complex. These geopolitical risks are contributing to cautious positioning across broader commodity markets.

Sources

1Colombian stocks slip after earthquake; LatAm assets muted2Brazil central bank eyes expansion for Pix payment system as US trade scrutiny intensifies3New Fed Chair Warsh completes promised divestiture, records show4Russia’s wealth fund liquid assets fall to $46.2 billion5Romania’s central bank keeps interest rate at 6.50%6Jobs report will offer fresh test of Fed Chairman Warsh’s less-guidance stance