S&P 500 — US Large Cap Index
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Euro Stoxx 50 — Eurozone Leaders
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CAC 40 — French Market Index
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Hang Seng — Hong Kong Index
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STI Index — Singapore Market
KOSPI — South Korea Index
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JSE Top 40 — South Africa Index
IPC Index — Mexico Market
Palladium futures fell to around $1,260 per ounce, remaining under pressure as the dollar hovered near a one-month high and investors awaited the Federal Reserve’s policy decision. The Fed is widely expected to keep interest rates unchanged, with markets pricing a 70% chance of a pause and a 30% probability of a 25-basis-point hike, while still expecting a rate increase in September. A stronger dollar made greenback-priced metals more expensive for overseas buyers, weighing on palladium. Meanwhile, Middle East tensions offered little support as markets monitored developments in the Strait of Hormuz after Iran launched missiles at US forces and Gulf states proposed a framework to manage the key shipping route. On the fundamental side, palladium faced headwinds from weakening automotive demand, as rising electric vehicle adoption and continued substitution with platinum weighed on consumption. Over the past month, palladium has gained 4.75% and was up 3.26% from a year earlier.
