August 19, 2026 - Dow Falls 0.22% to 53,343.40, Gold Rises 0.09% to $4,338.46 and Brent Rises 0.63% to $87.96

Global Markets

(A) Precious Metals

Gold: $4,338.46/oz (+0.09%)

Gold edged up 0.09% to $4,338.46/oz as U.S. Treasury yields eased from recent highs, reducing pressure on non-yielding bullion. Gains remained limited as investors awaited the Federal Reserve meeting minutes, with markets pricing around a 35% chance of a September rate hike.

Silver: $62.76/oz (-0.91%)

Silver fell 0.91% to $62.76/oz as elevated global bond yields continued to weigh on precious metals. The decline came despite some easing in U.S. Treasury yields, while uncertainty over the Federal Reserve’s rate outlook and inflation risks from higher oil prices kept pressure on silver.

(B) Energy

Brent Crude: $87.96/bbl (+0.63%)

Brent crude rose 0.63% to $87.96/bbl as uncertainty over oil exports through the Strait of Hormuz increased supply concerns. The U.S. president said the Strait was open, while Iran maintained that it remained closed, creating uncertainty over shipments. The expiry of the temporary ceasefire and stalled diplomatic progress also supported prices, while some shipping companies continued rerouting cargoes away from the region.

(C) FX

USD/JPY: 159.56 (-0.10%)

USD/JPY fell 0.10% as easing U.S. Treasury yields weakened dollar support. Softer U.S. data and lower expectations for a September Fed rate hike also pressured the pair.

EUR/USD: 1.1577 (+0.05%)

EUR/USD rose 0.05% as the dollar remained near multi-month lows. Lower U.S. yields and reduced Fed rate-hike expectations supported the euro ahead of the Fed meeting minutes.

AUD/USD: 0.7103 (-0.04%)

AUD/USD slipped 0.04% as Middle East uncertainty and higher oil prices weighed on risk sentiment. Losses were limited by a softer U.S. dollar and easing Treasury yields.

High-Impact Economic Events

Note: These high-impact economic events are for informational purposes only. Please conduct your own research before making any market decisions.

Volatility

The VIX rose to 15.84, reflecting increased caution as technology stocks fell and elevated bond yields pressured equities.

What Traders Are Watching

1. Federal Reserve Meeting Minutes - Markets are focused on the Federal Reserve’s July meeting minutes due at 06:00 PM GMT for further insight into policymakers’ views on inflation and interest rates. Recent softer U.S. economic data has reduced expectations for another rate increase, with markets currently pricing around a 36% probability of a September hike.

1. Strait of Hormuz and Middle East Supply Risks - Oil prices remain supported as uncertainty continues over shipping through the Strait of Hormuz. Washington maintains that the waterway is open, while Iran says it remains closed, and shipping data indicates that many operators continue to avoid the key energy route.

1. Bond Yields and Technology Stocks - U.S. Treasury yields have eased from recent peaks but remain elevated after a global bond selloff. Higher borrowing costs have placed particular pressure on technology shares, with semiconductor stocks leading Tuesday’s Wall Street decline.