Forint strength opens easing room – Commerzbank
Commerzbank’s Tatha Ghose reports that Hungary’s MNB kept rates at 6.25%, citing Iran-related inflation risks but acknowledging room to cut after a strong Forint rally. With improved inflation dynamics and EUR/HUF strength, he expects a couple of cuts in coming months, sees a 50 bp move as more likely than 25 bp, and forecasts EUR/HUF […]
Gold drops to one-week low below $4,500 as hawkish bets grow
Gold (XAU/USD) attracts some sellers for the second consecutive day and drops to a one-week low, around the $4,575 region, during the first half of the European session on Wednesday. Persistent geopolitical uncertainties continue to support the safe-haven US Dollar (USD) and undermine demand for the commodity. Moreover, inflationary concerns have raised expectations for more […]
Japanese Yen holds near four-week low vs USD as Iran risks loom
The USD/JPY pair trades with a mild negative bias during the Asian session on Wednesday, though it remains close to a nearly four-week high touched the previous day. Moreover, the fundamental backdrop and the lack of follow-through selling warrant some caution before confirming that spot prices have topped out in the near term. Traders turn […]
PBOC sets USD/CNY reference rate at 6.8291 vs. 6.8288 previous
On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.8291 compared to the previous day’s fix of 6.8288 and 6.7883 Reuters estimate. PBOC FAQs The primary monetary policy objectives of the People’s Bank of China (PBoC) are to safeguard price stability, including exchange rate stability, […]
Pound Sterling coils while the BoE and Fed freeze in lockstep
Cable looks dead this week, and that is not an accident. The Bank of England (BoE) and the Federal Reserve (Fed) have quietly become the same central bank. Both are sitting on their hands, both are watching above-target inflation get shoved higher by the same Middle East oil shock, both have hawkish dissenters in the […]
Political stress and energy shock drive weaker Lira – MUFG
MUFG analysts see growing downside risks for the Turkish Lira (TRY) versus the US Dollar (USD) as domestic politics and an energy-driven terms-of-trade shock strain Turkey’s external position. With limited FX reserve ammunition and rising geopolitical uncertainty, they now judge upside risks to their USD/TRY forecasts, flagging the possibility of faster depreciation or even a […]
Canadian Dollar gains support from rising Oil prices as USD/CAD trims intraday gains
USD/CAD reverses earlier intraday gains on Tuesday, with the Canadian Dollar (CAD) drawing support from rising Oil prices and offsetting broader US Dollar (USD) strength. At the time of writing, the pair is trading around 1.3800 after hitting an intraday high near 1.3821 earlier in the day. Ongoing uncertainty surrounding US-Iran negotiations continues to support […]
Gold slips as markets weigh renewed US-Iran escalation amid ongoing negotiations
Gold (XAU/USD) loses ground on Tuesday as the US Dollar (USD) and Oil prices rebound after renewed US military strikes in southern Iran dampen hopes for a quick end to the Middle East war. At the time of writing, XAU/USD is trading around $4,511, easing from an intraday high of $4,580. The US Central Command […]
Indian Rupee: INR stabilizes on RBI stance – DBS
DBS Group Research economist Radhika Rao notes that the Indian Rupee has appreciated from near 97.00 to the mid-95.00 area on hopes of easing West Asia tensions, lower Oil prices, and central bank support. Source link
Asian stocks mixed, KOSPI reaches fresh record highs
Asian stocks show mixed results on Tuesday as traders tracked diplomatic progress regarding the US-Iran conflict. Mediators reported that an agreement to reopen the Strait of Hormuz fully is nearing, providing some relief to the markets. Source link
