This cooling job market and retreating crude prices have dragged September rate increase probabilities down to roughly 50%, providing a floor for precious metals. Simultaneously, geopolitical risk premiums are unwinding after Iran confirmed an interim deal with the U.S. that lifts key sanctions. This agreement has helped ease global energy supply anxieties alongside broader Eurozone headline inflation, which cooled to 2.8%.

In corporate developments, the artificial intelligence boom has transformed into a comprehensive capital expenditure cycle. While this spending fuels massive infrastructure investment across data centers and grids, it raises structural overcapacity risks as investors await tangible profit returns. Defying electric vehicle sector skepticism, Tesla reported an exceptionally strong quarter with 480,126 deliveries, representing 25% year-over-year growth and shifting its narrative toward an AI and technology platform.

Looking ahead, market participants are focusing on central bank policies for directional cues. The U.S. Dollar Index is stabilizing above 100.60 as focus shifts to the upcoming FOMC minutes, while the EURUSD pair remains highly sensitive to broader dollar momentum amid dovish ECB commentary.