Commodities
Oil Prices Rise Amid Uncertainty Over Strait of Hormuz, Gold Plunges
The upcoming week will see several key economic data releases that could impact the price of oil and gold. The Reserve Bank of Australia is set to increase its interest rate from 4.35% to 4.60%, which may boost the Australian dollar.
On Wednesday, manufacturing PMIs for China and the US are expected to show expansion in their respective sectors. The German preliminary inflation rate is also anticipated to rise by 0.2%, reaching 3.1%. This could influence European inflation on Friday.
The US core PCE index is predicted to increase by 0.1% for August, while the GDP growth for the second quarter of 2026 may decline to 1.6%. These numbers could have a minor impact on the dollar.