investingLive Americas FX news wrap 28 May: Softer PCE pressures dollar and yields.The dollar softened broadly today, pressured by slightly cooler-than-expected PCE data which provided some relief from higher rates along with optimism around a proposed Memorandum of Understanding to kick off advanced peace talks. Both developments added to the headwinds of safe-haven demand for the greenback.

Crude Oil Price Forecast: Breakdown Extends Bearish Momentum.Crude oil extends downside momentum after breaking key moving averages and trendline support, with price now targeting lower Fibonacci and moving average support zones amid continued bearish structure.

Natural Gas Price Forecast: Rally Extends Toward Resistance Zone.Natural gas extends bullish momentum after reclaiming the 100-day moving average, with price action targeting a key resistance confluence near the 200-day average and prior trendline zone.

Economic and event calendar in Asia Friday, May 29, 2026 - Japan inflation (Tokyo, May).Tokyo inflation data is due. Tokyo consumer prices are expected to show little movement in May compared with April, with key inflation measures remaining at or below the Bank of Japan's 2% target, as you can see in the screenshot.

Reports that Iran targeted 4 American ships that attempted to cross the Straits of Hormuz.The full opening of the Straits of Hormuz is a prerequisite (a redline) of any deal with Iran according to comments from White House officials. So this does not give a positive feeling.

Thai Baht: Pressured by record deficit against US Dollar – Commerzbank.Thai Baht: Pressured by record deficit against US Dollar – Commerzbank

Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats As U.S. And Iran May Extend Ceasefire By 60 Days.According to recent reports, U.S. and Iran are moving towards a temporary deal that would reopen the Strait of Hormuz.

Japanese Yen strengthens as US-Iran truce headlines pressure the US Dollar.Japanese Yen strengthens as US-Iran truce headlines pressure the US Dollar

China: Trade resilience with rising risks – ABN AMRO.China: Trade resilience with rising risks – ABN AMRO

Treasury Secretary Bessent: Oil prices will be lower than pre-conflict levels.Did have a call with Imans Oil prices will be lower than pre-conflict A 2000 ships are waiting to come out of the gulf, and the oil market is set to be very well supplied. Pres. Trump has said there are several redlines and the Strait of Hormuz has to be free and open.

Fed's Musalem: Easing bias no longer fits the economy.Fed's Musalem: Easing bias no longer fits the economy

More from Musalem: Bond market is signaling a resilient economy/higher expected inflation..Overall tone: More hawkish. The comments emphasized resilient growth, rising inflation expectations, and a preference to remove easing bias, all of which lean toward keeping policy restrictive for longer.

US Treasury sells $77B of 7 year notes at a high yield of 4.290%.The WI level at the time of the auction was 4.291%. The seven year note was auctioned off at a high yield of 4.290% just below that level.

United States 7-Year Note Auction: 4.29% vs 4.175%.United States 7-Year Note Auction: 4.29% vs 4.175%

Investors such as cenbanks interested in UK gilts after yield surge, Natwest Markets CEO says.Some official institutions such as ​central banks are meaningfully interested in the UK ‌government bond market for the first time given sharply higher yields, Natwest Markets' chief executive officer said on Thursday.

WTI reverses gains as hopes for US-Iran agreement improve sentiment.WTI reverses gains as hopes for US-Iran agreement improve sentiment

US/Iran MOU on ceasefire has reached an agreement but Trump still needs to approve it.There are increasing reports suggesting progress toward a cease-fire agreement between the U.S. and Iran. According to multiple sources, the deal would be implemented in two phases, beginning with the signing of a memorandum of understanding (MOU).

Crude oil inventories fall -3.327 million versus -4.143 million estimate.The Energy Information Administration (EIA) weekly petroleum status report is one of the most closely watched releases in the oil market because it provides a snapshot of U.S. supply, demand, and storage conditions. Released each Wednesday (unless delayed by holidays), the report details changes in crude oil inventories, gasoline inventories, distillates (such as diesel and heating oil), refinery utilization, imports, exports, and domestic production.

United States 4-Week Bill Auction up to 3.63% from previous 3.61%.United States 4-Week Bill Auction up to 3.63% from previous 3.61%

Fed's Musalem: Rate hikes loom if disinflation stalls.Fed's Musalem: Rate hikes loom if disinflation stalls

United States Dollar Index trims gains after Axios reports preliminary US-Iran truce deal.United States Dollar Index trims gains after Axios reports preliminary US-Iran truce deal

British Pound bounces as US-Iran reach a deal, hitting the US Dollar.British Pound bounces as US-Iran reach a deal, hitting the US Dollar

Thailand: Fiscal bridge supports growth – UOB.Thailand: Fiscal bridge supports growth – UOB

Oil: Supply risks and underinvestment reshape outlook – BNY.Oil: Supply risks and underinvestment reshape outlook – BNY

Brazil's central bank will not let higher inflation expectations take hold, says director.Brazil's central bank will not allow higher inflation expectations to translate into actual ​inflation, monetary policy director Nilton David said on Thursday, ‌stressing policymakers have full scope to act on price pressures through 2028.

Crude Oil Price Analysis – Oil Has Overhead Pressure as Traders Watch Middle East.Crude oil markets continue to see a lot of chop on Thursday, as we continue to see a massive amount of headline confusion and noise.

Fed's Musalem Rejects AI Optimism as Substitute for Vigilant Monetary Policy.St. Louis Federal Reserve President Alberto Musalem pushed back against growing optimism that artificial intelligence-driven productivity gains could eventually solve the inflation problem and justify easier monetary policy. Speaking at an economic conference in Reykjavik, Musalem warned that it would be dangerous for the Fed to rely on hypothetical future productivity improvements while inflation remains well above target and inflation expectations continue drifting higher.

Natural Gas Price Analysis – Natural Gas Looking Like a Short Soon.Natural gas continues to see a lot of noisy behavior on Thursday, while we are above the crucial $3 level. This is a market that I think continues to focus on weather in the US being mild.

Axios: US and Iran have reached a tentative 60-day Memorandum of Understanding.Axios reports the U.S. and Iran have reached a tentative 60-day memorandum of understanding (MOU) to extend the ceasefire and begin formal nuclear negotiations.

US Dollar: Upside risks build with Middle East tensions – MUFG.US Dollar: Upside risks build with Middle East tensions – MUFG