News Results

* U.S.-Iran peace memorandum could be signed on Sunday in Geneva. * Spot gold down 2.7% so far for the week. * Markets await June 16-17 Federal Reserve meeting. * Palladium heads for weekly gain. By Anushree Mukherjee. Gold headed for a second straight weekly loss on Friday as expectations of higher interest rates weighed on the non-yielding metal ahead of next week's Federal Reserve meeting.

* Consumer sentiment index rises to 48.9 in June, above economists' expectations for a 46.0 reading. * Lower-income households lead broad improvement in sentiment. * Inflation expectations ease to still-elevated levels. By Lucia Mutikani.

Brazilian digital lender Nubank said on Friday it was aware of an erroneous message sent to customers claiming the firm was liquidated by the country's central bank, adding the incident resulted from an "one-time operational error." In a statement, Nubank, which is listed in New York under Nu Holdings (NU), said the incident was under internal investigation, and did not affect clients' data protection.

European stock markets closed higher Friday as the Stoxx Europe 600 climbed 1.9%, Germany's DAX 40 and France's CAC 40 each rose 1.8%, the FTSE 100 increased 1.6%, and the Swiss Market Index gained 1.3%. US President Donald Trump announced Thursday that the U.S. and Iran may come to terms this weekend on an agreement to wind down their three-month-old war, the Associated Press reported.

Expectations for U.S. monetary tightening and a strong dollar have taken some wind out of the "perfect storm" powering an upswing in gold since 2023, leaving prices in vulnerable territory around $4,000 per ounce as the interest rate backdrop unfolds.

* Traders monitor potential US-Iran peace deal. * Policy meeting under new Fed Chair Kevin Warsh may bring changes to communication style. * Markets expect interest rates to remain on hold. * Focus will be on Warsh's press conference, rate-hike signals. By Karen Brettell.

The University of Michigan's preliminary consumer sentiment index rose to 48.9 in June from 44.8 in May, topping expectations for a 46.0 reading in a Bloomberg survey.

U.S. consumer sentiment bounced off record lows in early June as easing gasoline prices offered households some relief, though concerns about inflation stoked by the Middle East conflict lingered. Lower-income households led the broad improvement in sentiment reported by the University of Michigan's Surveys of Consumers on Friday.

Brazil's consumer inflation accelerated more than expected in May, official data showed on Friday, breaching the top of the central bank's target range for the first time since October ahead of a key rate decision next week.

From the Editor. Hello Morning Bid readers! While markets expect the Federal Reserve to sit on its hands at its June 17 meeting, they are pricing in a strong chance of a 25-basis-point rate hike by December. Of course, the global inflation picture is still largely dependent on two questions: when will the U.S.-Israeli war with Iran end and what will the final deal look like?

* BOJ to review taper plan, lay out new one beyond fiscal 2027. * Board split between advocates of pause, steady normalisation. * Runoff of maturing JGBs will keep reducing BOJ's bond holdings. * BOJ to announce decision after two-day meeting ending June 16. By Leika Kihara and Takahiko Wada.

By Leika Kihara and Takahiko Wada. The Bank of Japan will consider suspending the reduction in its government bond purchases from April 2027 onward, sources said, pausing a taper process that would mark a turning point in its quantitative tightening plan.

A suddenly rocky U.S. stock market confronts a potential wildcard next week: A newly led Federal Reserve at a time investors are worried that interest rate hikes to fight inflation could dampen enthusiasm for equities.

* Fed chair Warsh set to lead first meeting. * Central bank expected to hold rates steady on Wednesday. * Indexes down from record highs as tech stocks falter. By Lewis Krauskopf. A suddenly rocky U.S. stock market confronts a potential wildcard next week: A newly led Federal Reserve at a time investors are worried that interest rate hikes to fight inflation could dampen enthusiasm for equities.

Societe Generale in its early Friday economic news summary pointed out: -- Brent down 2% at US$88.5/barrel after President Trump cancels planned strikes on Iran, signals potential deal as soon as the weekend. -- The United Kingdom's April gross domestic product contracts 0.1% month over month, grows 0.7% three-month/over/three-month in line.

* Hungarian forint nears multi-year highs. * India may allow fiscal deficit to widen to 4.8% of GDP, Bloomberg News reports. * Oil prices slip over 4% By Avinash P. Emerging market assets gained on Friday after U.S. President Donald Trump signalled a deal to end the Iran war could be signed as soon as this weekend.

The Federal Reserve holds its first meeting with Kevin Warsh in charge, Donald Trump is due to meet other world leaders in France as the Iran war drags on, while a by-election in northern England could launch a contest to oust Britain's prime minister.

* Sterling gains despite UK GDP contraction and entertainment sector hit. * Investors focus on Middle East peace optimism, easing energy cost concerns. * Upcoming by-election and Bank of England meeting seen as key for sterling. By Amanda Cooper.

Britain's economy contracted in. Economists polled by Reuters had forecast a 0.1% month-on-month contraction in gross domestic product during April.

The following are the top stories on the New York Times business pages. - SpaceX, Elon Musk's rocket and satellite maker, officially finalized its initial public offering price at $135 a share. - The war in the Middle East is slowing global economic growth this year to its weakest pace since the Covid-19 pandemic, according to a World Bank report.

Gold prices edged lower on Friday and were on track for a weekly loss amid inflation concerns and potential U.S. Federal Reserve interest rate hikes.

The dollar found its footing in early trading on Friday, after sliding to its weakest in a week as traders parsed reports that a ceasefire deal in the Middle East could be imminent. Against the yen, the U.S. currency was up 0.1% at 160.07 yen. The euro last bought $1.1576, holding near its strongest in a week after the European Central Bank's first interest rate hike in three years on Thursday.

By Leika Kihara. The Bank of Japan is set to raise interest rates to a 31-year high next week and signal its readiness to keep pushing up borrowing costs, undeterred by the absence of its governor as it focuses on countering inflation risks from the Middle East war.

Peru's central bank held its benchmark interest rate at 4.25% on Thursday, extending its pause for a ninth straight meeting, in line with market expectations.

New Zealand's manufacturing activity contracted slightly in May, slipping back into negative territory after seven months of expansion, as businesses remained concerned about weak demand and global economic pressures. The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index fell to 49.9 in May from 50.4 in April and 52.8 in March.

The New York Federal Reserve's operations desk plans to conduct about $16.5 billion in reinvestment purchases and an additional approximately $10 billion in reserve management purchases between June 12 and July 13, it said in a schedule released on Thursday.

U.S. producer prices increased more than expected in May, leading to the largest annual gain in 3-1/2 years as the Middle East conflict boosted the cost of energy products, providing more evidence that inflation pressures were building up.

The Bank of Canada held rates at 2.25% at Wednesday's policy meeting and kept the policy rate at the lower end of its estimated neutral range, 2.25%-3.25%, said UBS. The communications were little changed, but the BoC did acknowledge more plainly the "policy dilemma" caused by weakening economic activity and rising inflation, writes the bank in a note to clients.

Weekly applications for unemployment insurance and continuing claims in the US rose, according to latest official data, which Jefferies said largely point to "stable" labor market conditions. For the week through June 6, the seasonally adjusted number of initial claims increased by 4,000 to 229,000, the Department of Labor said Thursday.

According to ME, on June 1, 2026, the Central Bank of Bahrain granted the country?s first stablecoin issuer license to AXG, a Nasdaq-listed company. The issuance of this license marks the emergence of a new stablecoin development path in the Middle East, one that differs clearly from the U.S. and European models.

The European stock markets closed higher in Thursday trading as the Stoxx Europe gained 0.7%, Germany's DAX rose 0.2%, the FTSE 100 increased 0.5%, France's CAC advanced 0.7%, and the Swiss Market Index closed 0.8% higher. The European Central Bank's Governing Council decided Thursday to raise its three key interest rates by 25 basis points each.

European Central Bank policymakers see keeping interest rates on hold at their next meeting in July as the more likely scenario, if energy prices stayed near their current level, two sources told Reuters.

Denmark's central bank raised its key interest rate by 25 basis points to 1.85% on Thursday as expected, following the European Central Bank's decision earlier in the day to hike rates.

* ECB delivers first rate hike since 2023. * Hot inflation keeps investors on edge about US rate outlook. * BOJ chief Ueda hospitalised and will miss next week's meeting. By Chibuike Oguh.

US producer prices rose more than projected in May, matching April's pace, while the annual increase reached the highest since late 2022 amid surging energy costs. The producer price index increased 1.1% on a seasonally adjusted basis, unchanged from April's downwardly revised 1.1% gain, the Bureau of Labor Statistics reported Thursday.

The Bank of Canada did the obvious and held the policy rate at 2.25% on Wednesday, while the main message was that there isn't likely to be any change coming over the near- to intermediate-term, said Rosenberg Research.

* Producer Price Index increases 1.1% in May, above expectations for a 0.7% gain. * Goods prices, mostly energy, account for nearly 80% of the rise in the PPI. * Wholesale goods prices excluding food and energy post largest monthly gain since April 2022. * Weekly jobless claims increase 4,000 to 229,000. By Lucia Mutikani.

* ECB raises rates for first time in nearly three years, BoC on hold. * Fed, BoE set to hold next week, BOJ likely to hike. * Switzerland and Sweden not in any rush. By Stefano Rebaudo and Alun John.

The Bank of Canada held the Overnight rate at 2.25% on Wednesday as was widely expected, said David Doyle, head of economics at Macquarie Group. Governor Tiff Macklem's commentary was largely consistent with what was outlined at the April policy meeting, noted Doyle. The key sentence remained in the rate announcement.

* Rebalancing demand supports Treasuries despite rising oil prices, geopolitical tensions. * Yields spike after Trump threatens Iran, citing stalled negotiations and possible escalation. * US producer prices rise 1.1% in May, boosting expectations of Fed rate hikes. By Karen Brettell.