First: Forex Markets

• EUR/USD (Euro vs. US Dollar):
  The pair continued to trade near the 1.1450 levels, supported by expectations of an interest rate cut by the European Central Bank in its upcoming meeting on June 5. This reflects the continuation of accommodative policies amid fears of an economic slowdown in the Eurozone.

• USD/JPY (US Dollar vs. Japanese Yen):
  The pair saw a slight rise to 161.12, amid continued demand for the yen as a safe haven due to geopolitical tensions in some parts of the world.

• GBP/USD (British Pound vs. US Dollar):
  The pair rose to 1.3450, supported by improved UK economic data. Retail sales data for April showed a 0.4% increase compared to the previous month, reinforcing expectations of a possible interest rate hike by the Bank of England.

• AUD/USD (Australian Dollar vs. US Dollar):
  The pair remained stable at 1.599, amid stable commodity prices and improved trade relations with Southeast Asian markets.

Second: Gold Prices

Gold prices witnessed fluctuations during this period, ranging between $3,050 and $3,250 per ounce. This was influenced by financial market volatility and geopolitical tensions. According to some analysts, gold prices are expected to continue their upward trend in the medium term, with a possible rise to higher levels in the third quarter of 2025.

Third: Political Tensions and Their Impact on Markets

• Political Tensions in Turkey:
  Turkey has witnessed widespread protests since March 19, 2025, following the arrest of Istanbul Mayor Ekrem İmamoğlu. This led to a 12.7% drop in the Turkish lira to a record low of 42 lira per US dollar. Despite the Turkish central bank’s intervention by selling $25 billion to support the currency, foreign investors remained cautious, negatively affecting the forex markets.

• US-China Trade Tensions:
  Despite positive reports regarding trade negotiations, investors remained cautious, leading to volatility in forex markets.

• Political Crises in Latin America:
  Brazil and Mexico have faced political challenges that impacted emerging market investments, prompting many investors to rebalance their portfolios.

Fourth: Future Outlook

• Currency Markets:
  Currency volatility is expected to continue, with traders closely monitoring economic developments in the US and Eurozone. Attention is also focused on US monetary policy and its impact on the dollar’s value.

• Gold Prices:
  Gold is expected to maintain its value as a safe haven amid ongoing economic and political tensions, with potential for new highs in the second half of the year.

• Global Trade:
  Trade tensions are expected to remain a challenge for the global economy, which may lead to new movements in currency and precious metal markets.