Keep pulling the thread on Bloomberg Surveillance.
Core PCE for May is tracking at approximately 3.3% year-on-year.
If the Core PCE inflation rate for May is around 3.3%, the Federal Reserve will be unable to cut interest rates in the near term.
There is a projected timeline for oil flows through the Strait of Hormuz to return to normal within 30 days of a peace deal being signed, though this may be optimistic.
Liquefied natural gas (LNG) production facilities in Qatar and some oil and gas production facilities in the United Arab Emirates have sustained damage during the recent conflict.
The conflict in the Strait of Hormuz led to a relaxation of sanctions on Russian oil, which allowed Indian refiners to resume purchases.
Kevin Warsh's primary goal as Federal Reserve chair would be to reinforce the central bank's credibility and demonstrate its independence from political bias.
The US dollar was recently stronger against all major currencies except for the Norwegian krone and the Australian dollar, which are both commodity exporters.
The Bank of Japan is expected to hike interest rates this week.
The European Central Bank recently raised interest rates.
Iran may still pressure to have a service fee for ships passing through the Strait of Hormuz as part of a peace deal.
Russia's central bank sold gold for four consecutive months.
Turkey was the largest seller of gold among central banks in March.