US Inflation Will Put Everything into Perspective.The US dollar has been stuck within a 0.4% range over the past week, amid a stalemate in the Middle East. NACHO or ‘Not a chance Hormuz Opens' has replaced TACO.

investingLive European FX news wrap: JPY whipsaws, risk mood on the defensive.The risk mood in the session has been leaning on the defensive ahead of the US CPI report in roughly an hour. The culprit though is the lack of any breakthrough in the US-Iran stalemate.

Crude oil forecast: Technical Tuesday | May 12, 2026.Crude oil has been finding solid support this week because of the stalled negotiations. Prices were up around 3% by mid-morning London trading, continuing to extend their gains from yesterday as traders are forced to price out prior optimism over a speedy resolution to the Strait of Hormuz situation.

US Dollar: Range-bound gains as CPI runs hot – BBH.US Dollar: Range-bound gains as CPI runs hot – BBH

Japanese Yen: Intervention doubts and BoJ hike risk – BBH.Japanese Yen: Intervention doubts and BoJ hike risk – BBH

Swiss Franc weakens as SNB resists currency strength, US CPI awaited.Swiss Franc weakens as SNB resists currency strength, US CPI awaited

India's CPI rises to 3.48% in April, driven by accelerating food inflation.India's annual inflation rate climbed to 3.48% in April, a slight uptick from the 3.40% recorded in March. The headline figure remains within the Reserve Bank of India's comfort zone of 2% to 6%, and below the medium-term target of 4%.

South Africa Manufacturing Production Index (YoY) up to 0.9% in March from previous -2.8%.South Africa Manufacturing Production Index (YoY) up to 0.9% in March from previous -2.8%

Oil Breakout Brewing as Inflation Picks Up.Razan Hilal, Market Analyst at Forex.com, examines crude oil prices as they hold near a key breakout zone, with inflation pressures and supply dynamics shaping the outlook. She highlights critical technical levels, including the $100 and $108 thresholds, and explains how macroeconomic data like U.S. CPI and Chinese PPI could influence the next move in energy markets.

US Dollar: Inflation focus shapes rate expectations – TD Securities.US Dollar: Inflation focus shapes rate expectations – TD Securities

US April NFIB small business optimism index 95.9 vs 96.1 expected.Bill Dunkelberg, Chief Economist at NFIB said: “Inflationary pressures continue to be a challenge for Main Street. While small business optimism is currently fragile, the benefits of the Working Families Tax Cut Act should start to feed into the private sector over the next few months.

United States NFIB Business Optimism Index below expectations (96.1) in April: Actual (95.9).United States NFIB Business Optimism Index below expectations (96.1) in April: Actual (95.9)

US Dollar: Hotter CPI and equity risks – ING.US Dollar: Hotter CPI and equity risks – ING

British Pound declines on UK political uncertainty as Dollar gains amid Iran tensions.British Pound declines on UK political uncertainty as Dollar gains amid Iran tensions

EUR/JPY Price Forecast: Steadies above 185.00, moving averages following ZEW Survey data.EUR/JPY Price Forecast: Steadies above 185.00, moving averages following ZEW Survey data

WTI Price Forecast: Extends advance to near $98 amid fears of prolonged Hormuz closure.WTI Price Forecast: Extends advance to near $98 amid fears of prolonged Hormuz closure

German ZEW Sentiment Rises to -10.2, But Economy Still Burdened by Energy Shock.Germany's ZEW Economic Sentiment index improved from -17.2 to -10.2 in May, beating expectations of -20.5 and signaling a modest improvement in investor confidence despite ongoing economic pressures linked to the Middle East conflict. Eurozone ZEW Economic Sentiment also rose sharply from -20.4 to -9.1, while the Eurozone current conditions gauge improved slightly by 1.6 points to -41.4.

Eurozone ZEW Survey – Economic Sentiment came in at -9.1, above expectations (-20) in May.Eurozone ZEW Survey – Economic Sentiment came in at -9.1, above expectations (-20) in May

South Africa Unemployment Total climbed from previous 7.836M to 8.137M in 1Q.South Africa Unemployment Total climbed from previous 7.836M to 8.137M in 1Q

Exclusive: Indian banks resume bullion imports after month-long halt over 3% levy, sources say.Indian banks have resumed gold and silver imports after a hiatus that stretched for more than a month by agreeing to pay a 3% customs levy that ​earlier prompted lenders to halt shipments, trade and government sources told Reuters.

US dollar rises as Iran ceasefire fears shake market sentiment.The US dollar strengthened early Tuesday as investor sentiment weakened amid rising concerns over the fragile ceasefire between the United States and Iran. Markets are also closely watching the upcoming US Consumer Price Index data for April, which could influence expectations around Federal Reserve policy.

Natural Gas and Oil Forecast: Ceasefire Holds — WTI Reclaims $101, Brent Holds $106 — NatGas Struggles at $2.92?.With geopolitical risks fading, oil benchmarks return to supply-demand dynamics. WTI bounces strongly above $100 targeting $103, Brent defends ascending channel at $106.84, while Natural Gas remains capped below $2.945 with bearish bias.

Australian Dollar: Budget tightening focus – Rabobank.Australian Dollar: Budget tightening focus – Rabobank

Euro: Bearish-leaning against as ZEW stays weak – ING.Euro: Bearish-leaning against as ZEW stays weak – ING

ECB's Nagel: Baseline includes two rate hikes.ECB's Nagel: Baseline includes two rate hikes

Italy Industrial Output s.a. (MoM) above forecasts (0.2%) in March: Actual (0.7%).Italy Industrial Output s.a. (MoM) above forecasts (0.2%) in March: Actual (0.7%)

Sterling falls against dollar and euro as UK political tensions rise.Sterling weakened against both the dollar and the euro on Tuesday as investors closely monitored political developments in the UK amid mounting concerns over Prime Minister Keir Starmer's future in office. Starmer was consulting colleagues on Tuesday about whether he could remain as prime minister ahead of a crucial cabinet meeting.

US Dollar: Risk sentiment offsets data support – MUFG.US Dollar: Risk sentiment offsets data support – MUFG

British Pound drifts lower vs JPY amid intervention fears, UK political turmoil.British Pound drifts lower vs JPY amid intervention fears, UK political turmoil

UK borrowing costs march higher, sterling slumps as Starmer's future in doubt.UK borrowing costs neared their highest since 2008, sterling slumped and shares fell on Tuesday as investors ​brace for a potential change of leadership that ‌could endanger the fiscal rigour of the Keir Starmer government.