Global markets experienced unusual movements after the release of the higher than expected US PCE data. Although high inflation should have supported the US dollar, the market instead chose to take profit taking action after the data was announced.

In addition, the 60-day Memorandum of Understanding (MOU) agreement between the United States and Iran has helped reduce demand for safe haven assets and reduce concerns about geopolitical risks.



The movement of the dollar index showed strong resistance in the 99.35 resistance area before finally dropping back below the psychological 99.00 level. The 99.00 area is now an important pivot that determines the direction of the next movement.



The movement of gold prices shows a V-shaped rebound after briefly touching the 4,360 to 4,400 support area. The price has now managed to return above the psychological level of 4,500 which is an important area to maintain the recovery momentum.


The price movement of Brent Oil shows that the bearish pressure is getting stronger after the easing of geopolitical tensions. The price is now in the main support area and risks continuing to decline if the support fails to hold.

Overall, the market is currently affected by a combination of high inflation data, US dollar profit-taking, and easing geopolitical tensions between the US and Iran.

For today, market participants will pay close attention to the details of the implementation of the US-Iran MOU as well as the movement of the US dollar and energy prices as the main factors influencing global market sentiment.

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