Market sentiment weakens as palm oil futures come under pressure and move downward

Germany, Denmark, the Netherlands, Austria, Finland, and Sweden stated in a joint declaration that the EU's 2028-2034 budget plan should be cut by tens of billions of euros, and that new joint EU borrowing is not the solution to the budget gap.

Spot gold has just broken through the $4,600.00/oz mark, now quoted at $4,600.01/oz, up 0.12% on the day; the main COMEX gold futures contract is quoted at $4,653.50/oz, unchanged for the day.

ECB meeting minutes: As labor market conditions have also softened, the likelihood of second-round effects is relatively low.

European Central Bank meeting minutes: Some members believe that interest rates need to be “appropriately restrictive.”