Euro climbs vs Yen as ECB hike bets meet BoJ tightening, FX risks
EUR/JPY trades around 185.85 on Thursday at the time of writing, up 0.12% on the day. The cross is supported by the Euro (EUR) as investors expect the European Central Bank (ECB) to deliver another interest rate hike at its June meeting. The latest Eurozone economic data presents a mixed picture. Services and Composite Purchasing […]
Gold price in India: Rates on June 4
Gold prices rose in India on Thursday, according to data compiled by FXStreet. The price for Gold stood at 13,827.14 Indian Rupees (INR) per gram, up compared with the INR 13,688.53 it cost on Wednesday. The price for Gold increased to INR 161,275.10 per tola from INR 159,660.40 per tola a day earlier. Unit measure […]
Israel and Lebanon agree to renew ceasefire
Israel and Lebanon on Wednesday agreed to renew a ceasefire but said it would require a “complete cessation” of fire by Iran-backed Hezbollah. The agreement was announced in a joint statement after US-led talks in Washington. The two sides, which do not have formal diplomatic relations, also agreed to establish a number of “pilot security […]
Inflation is taking too long to return to 2%
Lorie Logan, President of the Federal Reserve (Fed) Bank of Dallas, said on Wednesday that inflation remains too elevated and warned that higher interest rates could be needed later this year if price pressures fail to ease further. Key quotes: Inflation is trending toward the mid-2s, not all the way to 2%. Trimmed-mean inflation is […]
Gold drops as Hormuz firefight fuels US Dollar jump
Gold (XAU/USD) price slumps over 1% on Wednesday, losing for the second day in the week amid fears that hostilities between the US and Iran may escalate, pushing energy prices higher and the US Dollar as well. Geopolitics weigh on Gold, as Oil shock revives inflation fears Tensions in the Middle East are high after […]
Gold falls as strong US data and Middle East tensions boost the US Dollar
Gold (XAU/USD) trades lower on Wednesday as escalating tensions in the Middle East dampen hopes for a near-term US-Iran peace deal, while a fresh batch of upbeat US economic data reinforces expectations that interest rates could stay higher for longer. At the time of writing, XAU/USD is trading around $4,447, down nearly 2.0% so far […]
Fed backdrop and data focus – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad notes that renewed US–Iran tensions have lifted the Dollar, Oil and global bond yields, with a restrictive Federal Reserve (Fed) backdrop seen as supportive for further Dollar strength. Haddad highlights stabilizing US labor market signals from April JOLTS and focuses on upcoming ADP, ISM services and Beige Book releases […]
Here’s what it means for EUR/USD
Eurozone’s HCOB Composite Purchasing Managers’ Index (PMI) has been revised higher to 48.5 in May, better than the flash reading and estimates of 47.5. This signifies that the overall business activity continues to contract, but at a moderate pace. A figure below the 50.0 threshold is considered as a contraction in the business activity. The […]
Uptrend holds, eyes on 216.00, BoJ risks loom
The Pound Sterling advances versus the Japanese Yen on Tuesday, up by 0.24%, driven by traders’ optimism about a US-Iran deal, even though there are rumours that Iran has halted negotiations amid the Israel-Hezbollah conflict over the weekend. The GBP/JPY trades at 215.34 after bouncing off daily lows of 214.74. GBP/JPY Price Forecast: Technical outlook […]
Canadian Dollar edges higher on risk tensions, strong US jobs data
USD/CAD edges lower toward 1.3830 on Tuesday at the time of writing, as the US Dollar (USD) pauses after its recent advance. The pair gives back part of its latest gains despite a geopolitical backdrop that continues to favor safe-haven demand. Market sentiment remains driven by developments in the Middle East. Concerns resurfaced after reports […]
