Key 6.7820 support against US Dollar in focus – UOB

Key 6.7820 support against US Dollar in focus – UOB

UOB’s Quek Ser Leang and Lee Sue Ann note that USD/CNH has slipped toward the lower end of its recent range after trading tightly between 6.7923 and 6.8033. They see rapidly increasing downward momentum that could test major support at 6.7820, though it is unclear if a clear break will occur, and still frames price […]

Euro convergence supports forint as MNB holds – BBH

Euro convergence supports forint as MNB holds – BBH

Brown Brothers Harriman’s (BBH) Elias Haddad expects the National Bank of Hungary (MNB) to keep its policy rate at 6.25% for a third straight meeting. Haddad highlights the euro-convergence trade as a structural tailwind for the Hungarian Forint (HUF), noting Hungary’s new government aims to meet Euro adoption conditions by 2030, supporting a constructive medium-term […]

Gold retains intraday bullish bias as Iran deal hopes undermine USD

Gold retains intraday bullish bias as Iran deal hopes undermine USD

Gold (XAU/USD) remains well bid above the $4,550 level through the first half of the European session on Monday, albeit it remains below the top boundary of a nearly one-week-old range amid mixed fundamental cues. Developments over the weekend spurred hopes for a potential US-Iran peace deal, undermining the US Dollar’s (USD) reserve currency status […]