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Central banks take center stage this week as the Fed, BOE, BOJ, and SNB update their policies, while safe haven flows continue to stir up global rate expectations.

US-China trade talks brought optimism, soft inflation data crushed the dollar to three-year lows, then Israel’s Iran nuclear site strikes triggered massive safe-haven flows.

What a wild week: US-China trade hopes drove Bitcoin past $108k, then Friday’s Israel strikes on Iran sent oil prices soaring and stocks tumbling.

Geopolitical tensions were in the spotlight for the most part of the day, followed a bit more progress in trade talks and another round of soft U.S. data. Here are the headlines you need to know.

Markets appeared less enthusiastic about trade negotiations between the U.S. and China while turning their attention to the U.S. inflation report for May. Read on to see how risk assets fared.

Headline US CPI rose only 0.1% in May, marking a deceleration from April’s 0.2% uptick and supporting the Fed’s cautious policy stance. Here’s how USD reacted.

Markets showed signs of caution while awaiting updates from US-China trade talks, before the World Bank’s updated global growth forecasts shook things up.

The UK jobs market showed clear signs of weakening in May, with unemployment hitting 4.6% – its highest level in nearly four years.

Even with Australian and European banks closed for the holiday on Monday, financial markets enjoyed some risk-on flows thanks to optimism surrounding trade talks between the U.S. and China in London.

With Fed expectations still uncertain, even a modest surprise in the US CPI report could shift dollar direction and ripple through risk assets.