What is driving the Euro up despite the disappointing Eurozone data?
The Euro (EUR) maintains its positive tone against the US Dollar (USD) on Monday, with the EUR/USD pair trading near 10-day highs above 1.1600. The positive market sentiment amid the US-Iran peace deal and the lower Oil prices has offset the weak Eurozone Industrial Production and Trade Balance data seen earlier on the day. Factory […]
Euro: ECB speakers guide expectations – ING
Chris Turner at ING says the Euro’s focus this week is on European Central Bank communication after last week’s rate hike, with markets assigning only a small probability to another move in July. Source link
US President Donald Trump claims Strait will be ‘permanently toll free’ under Iran agreement
US President Trump said that the agreement he reached with Iran would ultimately assure that the Strait of Hormuz is “permanently toll free,” the New York Times reported on Sunday. Trump added that despite the objections of Prime Minister Benjamin Netanyahu of Israel, he had saved Israel from nuclear obliteration. Trump insisted that if Iran […]
Silver price firms as US Dollar weakens, US-Iran talks eyed
Silver (XAG/USD) trades around $67.50 on Friday at the time of writing, up 0.21% on the day. The white metal maintains a positive bias despite improving market sentiment driven by diplomatic progress between the United States (US) and Iran. Investors remain focused on discussions between Washington and Tehran after Iran’s IRNA news agency released the […]
Gold pauses recovery as traders await clarity on US-Iran peace deal
Gold (XAU/USD) consolidates on Friday as traders await further developments on a potential US-Iran peace deal. At the time of writing, XAU/USD is trading around $4,200 after climbing to an intraday high of $4,246 earlier in the day. US President Donald Trump said on Thursday that he had canceled planned military strikes on Iran and […]
Japanese Yen holds as traders switch focus to BoJ hike and Warsh’s first Fed meeting
The USD/JPY pair trades near the 160.20 region on Friday as the Japanese Yen (JPY) remains slightly under pressure, while investors prepare for a key central bank week featuring the Bank of Japan’s (BoJ) policy decision and Kevin Warsh’s first Federal Reserve (Fed) meeting as Chair. The Yen continues to struggle despite rising expectations that […]
Dow Jones takes Pakistan’s word for it
The Dow Jones Industrial Average (DJIA) climbed 0.6% on Friday, settling near 51,200 and outperforming the rest of the US majors on a day when the tech-heavy Nasdaq Composite slipped into the red. The bid rests on a peace deal that exists mostly as a social media post: Pakistani Prime Minister Shehbaz Sharif announced a […]
Policy mix supports stability – Societe Generale
Societe Generale notes that Chinese inflation remains subdued, with May Consumer Price Index (CPI) at 1.2% and core at 1.1%, while PPI has risen to a four-year high, suggesting weak consumer demand and margin pressure. The bank highlights that authorities are using targeted easing and tighter capital controls to manage USD flows and limit Yuan […]
Euro holds steady against the US Dollar as markets await clarity on a possible US-Iran peace deal
EUR/USD fluctuates between modest gains and losses heading into the weekend as traders await Tehran’s decision on a possible agreement with the United States (US) to end the war in the Middle East. At the time of writing, the pair trades around 1.1573 and is on track to post modest weekly gains. Iranian Foreign Minister […]
Weakness raises intervention concerns – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret report USD/JPY is steady but elevated, with recent gains already surpassing prior intervention-trigger levels. A 25 bps Bank of Japan (BoJ) hike on Tuesday is widely anticipated, and markets price nearly one more increase by December. They flag concerns over communication as Governor Ueda will not attend, and […]
