Market sees increases in long-term rates as reflecting global inflation worries
Bank of Japan (BoJ) Deputy Governor Himino said on Tuesday that the market sees increases in long-term interest rates as reflecting global inflation worries. Himino further stated that the central bank will consider timing and pace of adjustment while monitoring how Middle East developments affect Japan economy, price and examining likelihood of realizing the baseline scenario. […]
Rises as bulls eye 0.72 breakout
AUD/USD advances during the North American session, up by 0.70% as the Greenback edges lower while the US and Iran reach a deal to extend a ceasefire by 60 days, which includes the reopening of the Strait of Hormuz. The pair trades at 0.7167 after bouncing off daily lows near 0.7150. AUD/USD Price Forecast: Technical […]
British Pound rises toward 1.3500 as hopes for US-Iran deal improve market sentiment
The British Pound (GBP) strengthens against the US Dollar (USD) on Monday, with GBP/USD climbing toward the 1.3500 mark as improving optimism surrounding a possible US-Iran agreement boosts market sentiment and weighs on the Greenback. At the time of writing, the pair is up 0.54% on the day, hovering near its highest level since May […]
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
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 (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 […]
US Secretary of State Rubio: We’ll either reach a good deal or handle it differently
US Secretary of State Marco Rubio said that the US will give diplomacy every chance with Iran but will pursue other means if a good deal cannot be reached, while describing the current framework as solid, Reuters reported on Monday. Key quotes We’ll either reach a good deal or handle it differently. Diplomacy will get […]
Swiss Franc advances as risk-on mood weakens USD
USD/CHF extends its losing streak for the fourth consecutive day, trading around 0.7820 during the Asian hours on Monday. The pair depreciates as the US Dollar (USD) declines on fading safe-haven demand amid increasing optimism over a potential US-Iran agreement, which has eased broader market concerns about inflation and impending Federal Reserve (Fed) interest rate […]
WTI tumbles 5% on renewed hopes of the Strait of Hormuz reopening
West Texas Intermediate (WTI) – the US oil benchmark – has witnessed a steep bearish opening gap on Monday, now losing nearly 5%, on its way to surrendering the $90 threshold. The sell-off in the black gold is fuelled by the renewed optimism over a likely reopening of the Strait of Hormuz, which could ease […]
Canadian Dollar weakens as US-Iran uncertainty and hawkish Fed bets support Greenback
The Canadian Dollar (CAD) remains on the defensive against the US Dollar (USD) on Friday as traders look past stronger Canadian Retail Sales figures and keep their attention on developments surrounding US-Iran negotiations. At the time of writing, USD/CAD is trading around 1.3818, its highest level since April 13. Data released by Statistics Canada showed […]
