Fed minutes revealed growing internal divisions as officials balance cooling inflation against credibility concerns under renewed political scrutiny, weakening the dollar and lifting gold to record highs.

Geopolitical tensions in Iran and Venezuela pushed oil prices higher, while Bitcoin stayed under pressure amid ETF outflows and bearish positioning.  Beyond markets, Iran’s currency crisis underscored a deep structural strain.

South Korea cautiously tested diplomatic limits with China, while US manufacturing remained in contraction. Global growth forecasts pointed to slower, uneven expansion into 2026, keeping investors focused on risk management and diversification.

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