Gold has rebounded above $5,000, supported by softer US inflation and falling yields, while silver holds an uptrend amid trade-related uncertainty. The euro steadies near 1.18 as the ECB signals comfort with currency strength, and the yen firms on expectations of tighter BoJ policy. Bitcoin trades below key resistance, reflecting ongoing policy and tariff uncertainty.

Beyond price action, attention is on macro undercurrents. China’s liquidity remains restrictive, limiting upside in commodities and China-sensitive assets, while Germany’s recovery shows signs of stabilization but remains slow and reform-dependent. In the US, record credit card debt and rising hedging against Big Tech credit risk highlight growing financial strain, even as inflation eases. The Federal Reserve maintains a cautious stance, keeping rate cuts conditional on further progress, reinforcing a data-driven and volatile market environment.

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