Global Markets React to Escalating Middle East Tensions

According to PANews, tensions in the Middle East escalated unexpectedly on Friday, significantly impacting global commodities. Crude oil prices surged by approximately 6%, marking a weekly increase of over 10%. Meanwhile, spot gold prices rose sharply by nearly $50, firmly surpassing the $3,400 mark, with a weekly gain of more than 3.7%. In the coming week, several central banks, including those of the United States, the United Kingdom, and Japan, are scheduled to hold policy meetings. The ongoing conflict in the Middle East is expected to remain a focal point. Key events to watch in the market include the release of the U.S. June New York Fed Manufacturing Index on Monday at 20:30 UTC+8, and the Bank of Japan's interest rate decision on Tuesday. On Wednesday at 20:30 UTC+8, the U.S. will release initial jobless claims data for the week ending June 14. On Thursday, the Federal Reserve's Federal Open Market Committee (FOMC) will announce its interest rate decision and economic projections at 02:00 UTC+8, followed by a monetary policy press conference by Federal Reserve Chair Jerome Powell at 02:30 UTC+8. Next Tuesday, the U.S. monthly retail sales data will be closely monitored. Investors are eager to determine whether tariffs have led to price increases, potentially affecting consumer spending. With the 90-day pause on U.S. President Donald Trump's series of tariff measures set to end on July 8, trade developments are likely to continue causing market uncertainty.