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Euro holds steady vs Japanese Yen ahead of ECB, BoJ meetings
EUR/JPY trades around 185.70 on Monday at the time of writing, showing little direction after a quiet start to the week.
CEE FX: Risk-off keeps pressure on forint – ING
ING’s Frantisek Taborsky notes that escalating US-Iran tensions are driving risk-off sentiment, overshadowing a light Central and Eastern Europe data calendar.
Hungarian Forint: Lags as MNB cuts loom – Societe Generale
Société Générale identifies the Hungarian forint as July’s main Central and Eastern European (CEE) laggard, with EUR/HUF moving back above 363 as markets anticipate another 25bp central bank of Hungary Magyar Nemzeti Bank (MNB) rate cut to 5.75%.
Iran's Baghaei: Intermediaries share messages with Tehran over recent days
Esmaeil Baghaei Hamaneh, a spokesperson for the Ministry of Foreign Affairs of Iran, said during the European trading session on Monday that Tehran pursues war and diplomacy based on its national interests when asked whether the door to talks with the United States (US) was now closed, Reuters repor
Australian Dollar rises against Japanese Yen due to RBA-BoJ rate differential
AUD/JPY rises after two days of losses, trading around 113.60 during the European hours on Monday. The currency cross appreciates as the Australian Dollar (AUD) holds gains following the release of the interest rate decision by the People’s Bank of China (PBOC), China's central bank.
British Pound: Outperformance on yields and politics repricing – MUFG
MUFG’s Lee Hardman highlights the Pound as the best performing major currency in recent weeks, supported by higher UK real yields and favourable carry conditions.
Eurozone Construction Output s.a (MoM): 0.4% (May) vs previous 0.6%
Eurozone Construction Output s.a (MoM): 0.4% (May) vs previous 0.6%
Eurozone Construction Output w.d.a (YoY) climbed from previous 0.9% to 1.2% in May
Eurozone Construction Output w.d.a (YoY) climbed from previous 0.9% to 1.2% in May
Swiss Franc remains on the front foot against USD as traders eyes geopolitics, Fed bets
The USD/CHF pair turns lower for the second straight day following an intraday uptick to the 0.8100 neighborhood and touches a fresh daily low during the first half of the European session on Monday.
Canadian Dollar: Soft inflation supports extended BoC pause – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad looks for Canada June headline Consumer Price Index (CPI) to slow to 2.9% year-on-year, with core measures near 2%.
British Pound gains as Andy Burnham to become new Prime Minister
GBP/USD gains ground after two days of losses, trading around 1.3470 during the European hours on Monday.
Australian Dollar looks to build on strength above 0.7000 vs a weaker USD
The AUD/USD pair hits a fresh daily high during the early part of the European session on Monday, with bulls now looking to build on the intraday move up beyond the 0.7000 psychological mark amid a weaker US Dollar (USD).
Australian Dollar: Uptrend risk intact above 0.6950 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang notes AUD/USD slipped below prior consolidation but still trades within 0.6960–0.7000 intraday. On a 1–3 week view, earlier strong momentum toward 0.7045 has faded somewhat, yet the upside scenario remains valid while 0.6950 holds.