It's often more important in times of heightened tensions in the Middle East to look more at what is not happening, rather than fixating on the dramatic headlines of tit-for-tat air and missile strikes between Israel and Iran.

Concerns of wider conflict rise, including at G7 summit Iran refuses ceasefire talks amid Israeli attacks, official says Trump vetoes Israeli plan to target Iran’s

Entering the meeting, markets are pricing two interest rate cuts from the Fed in 2025, in line with the central bank's median dot plot projection from March. But since then, there have been significant changes to tariff policy, which will put any updates to the Fed's outlook in particular focus.

Oil prices surged, stocks dropped and investors flocked to safe havens like gold on Friday after tensions between Israel and Iran escalated, stoking concerns of a broader conflict in the region.

Tensions between Iran and Israel have erupted into open conflict, marked by airstrikes, drone attacks, and fears of a wider regional war. What began as a cold standoff rooted in nuclear ambitions and ideological rivalry now threatens to ignite the Middle East — and the world is watching.