U.S. Inflation Surges Amid Rising Energy Prices, Fed Rate Hike Speculation Grows

U.S. inflation data has surged over the past week, driven by rising energy prices due to the ongoing conflict in Iran, according to PANews. Several key indicators have reached multi-year highs. Traders have largely dismissed the possibility of a Federal Reserve rate cut this year, while expectations for a rate hike have increased. In the coming week, the minutes from the Federal Reserve's most recent meeting will be closely watched for signs of strengthening rate hike signals. Additionally, uncertainty in the Middle East continues to cast a shadow over global markets.