| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 06:00 | Germany | CPI, m/m | May | 0.4% | 0.1% | 0.1% |
| 06:00 | Germany | CPI, y/y | May | 2.1% | 2.1% | 2.1% |
| 06:45 | France | CPI, m/m | May | 0.6% | -0.1% | -0.1% |
| 06:45 | France | CPI, y/y | May | 0.8% | 0.7% | 0.7% |
During today's Asian trading, the U.S. dollar and other safe-haven assets surged after Israel launched a large-scale military strike on Iran, prompting retaliation from Tehran and intensifying fears of a broader Middle East conflict. Investors fled to safety, pushing gold, U.S. Treasuries, and the Swiss franc higher, while global stock markets and risk-sensitive currencies tumbled.
Israel said the operation targeted Iranian nuclear facilities and military sites, while Iran responded with a swarm of drones and confirmed the deaths of key military figures, including Revolutionary Guards Commander Hossein Salami and six nuclear scientists. The strike came ahead of U.S.-Iran talks scheduled in Oman, raising questions about the future of nuclear negotiations.
The geopolitical shock drove oil prices up more than $4 a barrel, heightening concerns over energy supply disruptions. Analysts warned that continued escalation could further pressure crude prices and inflation.
The US Dollar Currency Index (DXY), which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona) rose by 0.44% to 98.30, recovering from recent lows and putting risk-linked currencies under pressure. The euro and pound each dropped about 0.55%, while the yen and Swiss franc remained relatively firm.
Despite Friday’s rally, the dollar was still on track for a weekly loss of nearly 0.9% due to weak inflation data and expectations of interest rate cuts by the Federal Reserve.
Markets remain on edge as they await further developments in the Middle East and key central bank decisions from the Fed, Bank of Japan, and Bank of England in the coming week.