Australian Dollar rises amid Chinese CPI preview
AUD/USD gains ground after remaining flat in the previous day, trading around 0.6930 during the Asian hours on Thursday. The currency pair gains ground as the Australian Dollar (AUD) finds support ahead of critical consumer inflation data from China, Australia’s primary trading partner. Later today, market attention will shift toward the US weekly Initial Jobless […]
Flow-driven weakness with policy support – OCBC
OCBC Bank’s Sim Moh Siong and Christopher Wong note that Taiwan Dollar (TWD) remains on the back foot, with USD/TWD above 32, driven mainly by foreign equity selling and dividend/remittance-related US Dollar (USD) demand rather than weaker fundamentals. Authorities are encouraging quicker execution of large USD sell orders to mobilise natural supply, while exporter USD […]
Undervaluation and BOK outlook aid won – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad highlights an extended broad rally in South Korean Won (KRW) as Korean equities underperform, reducing rebalancing outflows. Haddad sees an encouraging outlook, with KRW about 11% undervalued on Real Effective Exchange Rates (REER) metrics and the Bank of Korea (BoK) poised to start hiking at its July 16 meeting. […]
Fed Minutes to provide clarity on June’s hawkish hold
The United States (US) Federal Reserve (Fed) will release the Minutes of the June 16-17 Federal Open Market Committee (FOMC) meeting on Wednesday at 18:00 GMT. The Minutes should shed more light on the Fed’s hawkish hold delivered at Kevin Warsh’s first meeting as Fed Chair. Even so, doubts remain about how much the minutes […]
FOMC minutes to highlight hawkish debate – TD Securities
TD Securities strategists preview the June Federal Open Market Committee (FOMC) Minutes, expecting more insight into the policy debate than provided by Chair Warsh’s press conference. They highlight internal disagreement over whether policy is sufficiently restrictive as inflation risks rise, with many officials seeing scope for both hikes and a pause, and most potentially favoring […]
Indian Rupee ticks higher despite rising oil prices
The Indian Rupee (INR) ticks higher against the US Dollar (USD) in the opening session on Wednesday. The USD/INR pair edges down to near 95.00 despite renewed geopolitical risks, following United States (US) attacks on Iran, which have lifted oil prices. In the opening session, the MCX Crude Oil contract expiring on July 20 is […]
Hawkish remarks from RBA’s Hunter lift Australian Dollar
The Australian Dollar (AUD) trades 0.23% higher to near 0.6943 against the US Dollar (USD) during the Asian trading session on Wednesday. The Aussie pair gains as the Australian Dollar outperforms its major currency peers, except the New Zealand Dollar (NZD), with the Reserve Bank of Australia (RBA) keeping the door open for further monetary […]
Gold edges lower to near $4,100 on renewed US–Iran tensions
Gold price (XAU/USD) loses ground to around $4,100 during the early Asian session on Wednesday. The precious metal faces new selling pressure after the US vows a response against Iran following reports of attacks on three oil tankers in and around the Strait of Hormuz. Traders await the release of the Federal Reserve’s (Fed) June meeting […]
Hormuz security risks support prices – BNY
Geoff Yu reports that a Qatari LNG carrier was struck near the Strait of Hormuz, reviving security concerns and lifting European gas prices and Brent, WTI, Omani and Dubai crude benchmarks. He notes fragmented shipping routes, heightened shipowner anxiety, and warns that the incident pressures already fragile U.S.–Iran peace discussions and Qatar’s LNG export plans. […]
RBNZ hike seen but path questioned – Commerzbank
Volkmar Baur at Commerzbank expects the Reserve Bank of New Zealand (RBNZ) to raise rates at its July meeting to reinforce its inflation-fighting credentials, which should initially support the New Zealand Dollar (NZD). However, he argues that current market pricing of about 3.5 hikes over 12 months is excessive, and the eventual repricing of this […]
