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The European markets closed the week with a steadier tone as investors awaited a potential breakthrough in the US-Iran negotiations. Key developments included Japan's ¥11.7 trillion in forex interventions to stabilize the yen, central bank comments from the Fed and BOE on inflation concerns, and mixed inflation data from Germany, France, Spain, and Italy. While German unemployment fell unexpectedly, import prices rose amid ongoing geopolitical tensions. WTI crude dipped 1.7% to $87.40, while European indices like the DAX and CAC 40 showed modest gains. Gold rose 0.8% as investors sought safe-haven assets. The unresolved US-Iran deal remains a critical overhang, with markets closely monitoring any escalation or de-escalation in tensions. Central banks' focus on inflation and potential rate hikes continues to shape monetary policy expectations, particularly in the US and UK. Traders should watch for updates on the US-Iran memorandum of understanding and upcoming economic data releases from major economies.
