FOMC Minutes Highlight Policy Outlook, Dollar Strength

The US Dollar extended its gains for a second day, buoyed by optimism in trade and cautious sentiment highlighted in the Federal Reserve's May FOMC meeting minutes. Key economic data, including Q1 GDP growth, jobless claims, and pending home sales, are expected to impact market trends, complemented by remarks from several Fed officials. The FOMC minutes are being closely analyzed for signals on the Fed's monetary policy outlook and potential future interest rate changes. Major currency pairs such as EUR/USD, GBP/USD, AUD/USD, and NZD/USD have weakened against the stronger dollar, with the New Zealand Dollar also declining ahead of an expected rate cut by the Reserve Bank of New Zealand. Crude oil prices rebounded due to renewed supply concerns following OPEC+ talks, while gold prices remained volatile. Investors are closely monitoring upcoming economic indicators and central bank communications for further direction.