Euro slips as Iran deal doubts lift demand for the US Dollar
The Euro (EUR) retreats by 0.14% during the North American session on Friday amid growing speculation that the US and Iran may reach a deal to end the conflict. The Greenback is recovering some ground, underpinned by Oil prices trimming some of its earlier losses. The EUR/USD pair trades at 1.1598, poised to end the […]
Japanese Yen weakens as stronger US Dollar and elevated energy prices weigh on sentiment
USD/JPY holds firm on Friday, remaining confined within this week’s trading range as traders refrain from placing aggressive bullish bets near the 160.00 handle following suspected intervention by Japanese authorities in late April. At the time of writing, the pair is trading around 159.20 and remains on track for a second consecutive weekly gain. Meanwhile, […]
Rate repricing weighs against Japanese Yen – Rabobank
Rabobank’s Senior FX Strategist Jane Foley notes that the Australian Dollar (AUD) has shifted from a top G10 performer to one of the weakest on a 5‑day view as markets reassess Reserve Bank of Australia (RBA) tightening prospects after softer labour data. With the Bank of Japan (BoJ) expected to hike and AUD/JPY losing momentum, […]
Gold holds within weekly range as US-Iran talks remain in focus
Gold (XAU/USD) consolidates on Friday, remaining confined within this week’s trading range as investors cautiously monitor ongoing diplomatic efforts between the United States and Iran to reach a deal to end the war in the Middle East. At the time of writing, XAU/USD is trading around $4,520, staying on course for a second consecutive weekly […]
President Trump says he wants Warsh to be independent
Speaking ahead of the swearing-in of new Federal Reserve (Fed) Chair Kevin Warsh, President Trump stated that he wants Warsh to be “independent”, stating that the Fed will “make their own decisions”. Donald Trump also stated that he wants to stop inflation, and reminded listeners that economic growth and inflation are two different concepts. Key […]
Dow Jones shrugs off a hawkish new Fed chair to set a record
There is confident, and then there is Friday. The Dow Jones Industrial Average (DJIA) ground out a fresh all-time high, up around a quarter of a percent, on a day that gave it nothing to celebrate. A famously hawkish new chief took the gavel at the Federal Reserve (Fed), consumer sentiment fell off a cliff, […]
Why markets may be misreading Warsh
Kevin Warsh was sworn in as the 17th head of the Fed on Friday, the first chair to take the oath at the White House since Alan Greenspan in 1987, a venue choice that says plenty about how close this central bank now sits to the executive branch. The optics got stranger from there. The […]
Hawkish BoK tilt supports Won – ING
ING economists Min Joo Kang and Lynn Song expect the Bank of Korea to leave policy rates unchanged this week but to adopt a more hawkish tone. They see updated dot plots pointing to one or two rate hikes within six months, alongside upgraded GDP and CPI forecasts. Strong chip production and resilient activity data […]
Gold price slips as Waller’s hawkish comments lift USD
Gold price edges lower during the day as the Greenback recovers some ground amid doubts that the US and Iran could reach a deal to end the conflict, and traders are pricing in a Federal Reserve (Fed) rate hike by the end of the year. At the time of writing, XAU/USD trades at $4,518, down […]
XAG/USD remains range-bound with RSI and MACD signaling weak momentum
Silver (XAG/USD) remains range-bound on Friday as traders avoid aggressive positioning amid uncertainty surrounding US-Iran negotiations. At the time of writing, the white metal trades near $76.00 and is likely to close the week on a flat note. In the latest developments, Iran’s Foreign Ministry spokesperson said, “We cannot necessarily say that we have reached […]
