Oil Rises, Intel Surges, USD/JPY Strengthens as Platinum Slides
Thursday 30 April 2026
23 June Week Ahead: Middle-East Conflict, NATO Summit, Economic Data & More
Amid escalating conflict in the Middle East and the U.S. military’s strikes in Iran on Saturday, 21 June, the week ahead appears fraught with uncertainty, carrying significant political and economic implications.
In addition to rising geopolitical tensions, traders and investors should monitor key events and economic data releases from major global economies.
Let’s dive into what lies ahead this week:
TL;DR – Key Points:
U.S. military strikes Iran; geopolitical tensions intensify
Oil prices rise amid fears of supply disruption via the Strait of Hormuz
Global PMI data to shed light on economic health
Major earnings reports from Nike, FedEx, Micron and more
NATO summit to focus on defence spending, Ukraine, and allied unity
Important economic indicators due from the UK, EU, US, Japan, China
Ongoing Middle East Tensions
The conflict between Israel and Iran appears to have entered a critical phase as the week began with a major development: U.S. President Donald Trump announced on Saturday, 21 June, that the U.S. military had launched strikes on Iranian nuclear facilities.
In response to this escalation, Iran declared its unwillingness to resume nuclear deal negotiations and emphasised its readiness to retaliate.
As tensions rise, traders, investors, and analysts are bracing for heightened volatility, particularly in energy markets. Oil prices are already surging amid fears of potential disruptions to the vital Strait of Hormuz, a key global oil transit route. Moreover, reports emerged on Sunday stating that the Iranian Parliament approved the closure of the Strait (while the decision is yet to be finalised by Iran’s Supreme National Security Council).
While the immediate impact is being felt, the full implications of this unfolding conflict on global financial markets remain uncertain. Time will tell how deeply it will reshape economic and geopolitical dynamics.
Read more about the latest Israel-Iran war updates in our article “US Strikes Iran: What It Means for the Markets.”
Main Markets to Keep in Mind
According to some analysts, the conflict in the Middle East and fears of a potential Strait of Hormuz closure could reshape global markets. As tensions rise, investors are closely watching the defence, energy, and travel sectors.
Defence stocks have gained momentum, reflecting expectations of increased global military spending and long-term investment in advanced technologies.
Airline and travel companies are facing pressure from rising fuel costs, disrupted flight paths, and weakening demand, particularly in regions near the conflict.
Oil and energy markets are highly volatile, with crude prices rising sharply. A potential disruption to the Strait of Hormuz could lead to further price spikes and strain energy-dependent economies.
Shipping and freight costs are also expected to rise if vessels are forced to reroute around conflict zones, affecting global supply chains.
Stock markets are showing mixed reactions. Some regional indices have stabilised or risen on hopes of resolution, while others remain volatile due to ongoing uncertainty.
Currency and bond markets are shifting as investors seek safer assets. The U.S. dollar and government bonds are seeing increased demand, while currencies in energy-importing countries may face pressure if oil prices continue climbing.
Still, past performance does not reflect future results; only time will tell what lies ahead for the unpredictable and volatile financial markets, and traders and investors should conduct their own research.
PMI Reports
Purchasing Managers’ Index (PMI) reports will be released globally this week. These reports provide an overview of the state of an economy’s manufacturing and services sectors.
Eurozone:
Preliminary June PMI data for the Eurozone, Germany, and France is set for release. These figures will offer key insights into the region’s economic momentum, particularly in the manufacturing and services sectors. Analysts expect further softening in the services sector, while manufacturing activity may show signs of stabilisation, helped in part by increased government spending.
United Kingdom:
The UK’s June PMIs will shed light on the underlying pace of economic growth and how recent tax increases and public spending adjustments are affecting business activity across the services and manufacturing sectors.
More Countries
Other PMI reports include those from Australia, Japan, and India on Monday, 23 June. (Source: SPGlobal)
Earnings Reports
The following companies are scheduled to report their financial earnings results, providing traders with a better overview of the financial markets amidst the ongoing uncertainties:
Monday, 23 June
Tuesday, 24 June
Wednesday, 25 June
Thursday, 26 June
NATO Summit
The NATO Summit taking place in The Hague on 24–25 June 2025 will centre on a number of critical issues shaping the Alliance’s future and broader global security.
The principal agenda items include:
Reinforcing Deterrence and Defence
Member states will deliberate on strengthening NATO’s collective defence posture, particularly in response to ongoing threats posed by Russia and other adversaries. Discussions will focus on enhancing military capabilities and operational readiness across the Alliance.
Defence Spending and Burden-Sharing
A significant emphasis will be placed on increasing defence expenditure among European allies. The United States is expected to advocate for targets beyond the current benchmark of 2% of Gross Domestic Product (GDP), with some proposals suggesting levels as high as 5%. However, such suggestions remain contentious and lack unanimous support.
Support for Ukraine
Ongoing support for Ukraine in the face of the continuing Russo-Ukrainian conflict will be a central topic. Allies aim to coordinate efforts relating to military assistance, financial aid, and humanitarian relief.
Defence Industry and Innovation
The NATO Summit Defence Industry Forum, to be held on 24 June, will convene ministers and industry leaders to explore ways of scaling up defence production, accelerating technological innovation, and deepening transatlantic industrial cooperation.
Unity and Cohesion Among Allies
Preserving unity within the Alliance will be a recurring theme, particularly in light of differing national defence priorities and ongoing concerns regarding the reliability of the United States' commitment under its current administration.
In addition, the NATO Public Forum will offer a broader platform for engagement, featuring discussions involving policymakers, experts, and members of the public on the key challenges and strategic choices facing the Alliance. (Source: Brookings)
More Reports to Keep in Mind
Other key reports coming this week include:
Tuesday 24 Jun
Germany Ifo Business Climate (Jun)
United Kingdom CBI Industrial Trends Orders (Jun)
Canada Inflation (May)
United States CB Consumer Confidence (CCI) (Jun)
Wednesday 25 Jun
United States New Home Sales (May)
Japan Bank of Japan (BOJ) Summary of Opinions (Jun)
Australia Monthly Consumer Price Index (CPI) Indicator (May)
Spain GDP (Q1, final)
Thursday 26 Jun
Germany GfK CCI (Jul)
Eurozone ECB General Council Meeting
United States Durable Goods Orders (May)
United States GDP (Q1, final)
Friday 27 Jun
Japan Retail Sales (May)
China (Mainland) Industrial Profits (May)
Japan Housing Starts (May)
United Kingdom GDP (Q1, final)
France Inflation (Jun, prelim)
Spain Inflation (Jun, prelim)
Eurozone Economic Sentiment (Jun)
United States Core Personal Consumption Expenditure (PCE) Price Index (May)
Conclusion
This week presents a volatile mix of geopolitical tension and key economic updates. Meanwhile, the upcoming NATO summit, crucial economic data, and corporate earnings will demand close attention. Investors should remain alert as events unfold and markets react to heightened uncertainty.
*Past performance does not reflect future results.
