Markets stayed cautious as higher oil prices, rising U.S. yields, and Middle East tensions weighed on risk sentiment. Equities weakened, while Brent crude rose on supply-risk concerns and gold held slightly higher as safe-haven demand helped limit pressure from a stronger dollar. In FX, the dollar remained firm against major currencies as investors favoured safety and higher U.S. rates kept support for the greenback.
Today's Snapshot
- Nasdaq Composite: 26,225.15 (-1.54%)
- S&P 500: 7,408.50 (-1.24%)
- Gold: $4,546.04/oz (+0.13%)
- Silver: $75.6090/oz (-0.48%)
- Brent Crude: $111.13/bbl (+1.87%)
Note: Data and market levels are as of 06:30 UTC, May 18, 2026, subject to live market fluctuations.
Global Markets
(A) Precious Metals
Gold: $4,546.04/oz (+0.13%) Gold moved slightly higher to $4,546.04/oz, up 0.13%, as investors bought after the recent fall and Middle East tensions kept some safe-haven demand alive. But the rise stayed small because higher U.S. yields and a stronger dollar made gold less attractive, since gold does not pay interest and becomes more expensive for buyers using other currencies.
Silver: $75.6090/oz (-0.48%) Silver slipped to $75.6090/oz, down 0.48%, as the broader mood in precious metals stayed weak. Higher U.S. yields reduced demand for metals that do not pay interest, while a stronger dollar made silver costlier for global buyers, putting pressure on prices.
(B) Energy
Brent Crude: $111.13/bbl (+1.87%) Brent crude rose to $111.13/bbl, up 1.87%, as hopes for an end to the Iran war appeared to fade. Prices climbed because a nuclear power plant in the UAE came under attack, raising fears that the conflict could spread and disrupt oil supply from the Middle East. Traders were also cautious as U.S. President Donald Trump was expected to discuss military options on Iran, adding more geopolitical risk to oil markets.
(C) FX
USD/JPY: 158.84 (+0.04%) The dollar rose slightly to 158.84 yen, up 0.04%, as U.S. yields stayed high. The yen remained weak because U.S. rates are still much higher than Japan’s, making the dollar more attractive.
GBP/USD: 1.3305 (-0.10%) The pound fell to 1.3305, down more than 0.10%, as the dollar strengthened. Higher U.S. yields and weak risk sentiment pushed investors toward the dollar.
EUR/USD: 1.1609 (-0.10%) The euro fell to 1.1609, down more than 0.10%, as the dollar held firm against major currencies. Oil-driven inflation worries and higher bond yields supported the dollar.
USD/INR: 96.2275 (+0.30%) The dollar rose to 96.2275 rupees, up nearly 0.30%, pushing the rupee to a record low. The rupee weakened because higher oil prices hurt India, which imports a lot of crude, while rising global yields added pressure.
Dollar Index: 99.393 - slightly firmer The dollar index held firmer at 99.393, supported by higher oil prices and rising bond yields. Investors preferred the dollar as markets became more cautious.
Economic Calendar Today: Key U.S. Market Events
| Country | Release | Forecast | Previous | Time |
|---|---|---|---|---|
| US | NAHB Housing Market Index (May) | 34 | 34 | 14:00 UTC |
| US | 3-Month Bill Auction | — | 3.610% | 15:30 UTC |
| US | 6-Month Bill Auction | — | 3.615% | 15:30 UTC |
Note: This update highlights selected economic calendar events for informational purposes only. Please conduct your own research before making any trading decisions.
Volatility The VIX closed around 18.43, showing cautious market conditions.
What Traders Are Watching
- Oil-driven inflation risk - Traders are watching Brent above $110 because sustained energy pressure can lift inflation expectations and keep central banks restrictive.
- Fed policy signals - Fed minutes and U.S. PMI data may show whether policymakers are becoming more concerned about inflation and tighter financial conditions.
- Yen intervention risk - USD/JPY near 159 keeps markets alert for possible Japanese action if yen weakness accelerates toward the 160 level.
“In investing, what is comfortable is rarely profitable.”
Yesterday’s Market News - May 15, 2026
U.S. equities fell sharply on Friday, with the Nasdaq dropping 1.54% and the S&P 500 losing 1.24% as rising yields pressured valuations. KOSPI closed down 6.12%, while Brent crude strengthened on Middle East supply risks, silver weakened, and the dollar stayed supported by higher Treasury yields and risk aversion.
Read full recap →Sources
- Reuters - Markets - Dollar steady as oil climbs, bond selloff deepens
- Reuters - Commodities - Gold steadies on dip-buying after hitting over one-month low on higher oil prices
- Reuters - India Markets - Rupee slides to record low as surge in global yields compounds oil price pain
- Investing.com - Economic Calendar - NAHB Housing Market Index, 3-Month Bill Auction, 6-Month Bill Auction
Disclaimer
This report is for informational purposes only and does not constitute investment advice, financial guidance, or a solicitation to buy or sell any financial instruments. Market data and figures are subject to change without notice. Data has been taken from sources we believe to be reliable; however, please conduct your own research before making any investment decisions. Trading leveraged or complex products carries significant risk; please ensure you understand the risks before trading.
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