Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
Australian Dollar advances to 0.7000 as Middle East de-escalation weighs on the USD
AUD/USD trades around 0.7000 on Monday at the time of writing, up 0.33% on the day, supported by a weaker US Dollar (USD) as geopolitical tensions in the Middle East show signs of easing.
Japanese Yen: Macro backdrop favors recovery against US Dollar - BBH
Brown Brothers Harriman’s (BBH) Elias Haddad anticipates the Bank of Japan (BoJ) will leave its policy rate at 1.00% after June’s hike, with inflation still below target and markets pricing only gradual tightening.
USD/JPY Price Forecast: Eases to 163.50 with the broader bullish trend intact
The Japanese Yen (JPY) pares recent losses against the US Dollar (USD) on Monday, favoured by a relief rally, as the US and Iran halted their hostilities, opening the door for further negotiations.
Brent: Market weighs de-escalation signals – ING
ING analysts Warren Patterson and Ewa Manthey note that Brent has retreated sharply, briefly dropping below US$90/bbl as the US and Iran paused further strikes.
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Monday, according to FXStreet data. Silver trades at $59.43 per troy ounce, up 2.26% from the $58.12 it cost on Friday.
US Dollar: Fed communication key for path – OCBC
OCBC’s Sim Moh Siong and Christopher Wong highlight that markets have repriced the risk of a July Fed hike higher after Oil-driven inflation worries, but still expect no move.
Silver Price Forecast: XAG/USD rallies near $60 as markets embrace US-Iran de-escalation
Silver (XAG/USD) rallies on Monday and trades around $59.45 at the time of writing, up 2.27% on the day.
British Pound: Fiscal risks cap upside against US Dollar – BNY
Geoff Yu at BNY argues that the Bank of England (BoE) is likely to keep policy unchanged despite energy-driven price pressures, as markets have already tightened financial conditions.
Japanese Yen: BoJ guidance and Fed surprise risk steer the yen – MUFG
MUFG’s Lee Hardman highlights that lower energy prices have eased pressure on Japanese policymakers and slowed USD/JPY’s climb below 164.00. Markets expect the Bank of Japan (BoJ) to keep rates unchanged but are focused on any hawkish signals on future hikes.
Australian Dollar: Extended RBA pause may weigh on AUD – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad sees above-target Australian inflation keeping Reserve Bank of Australia (RBA) hike risks alive, with June and Q2 Consumer Price Index (CPI) expected to show firm trimmed mean readings.
Iran’s Baghaei: Iran has not asked for resumption of talks with the US
Iran's Foreign Ministry spokesperson Esmail Baghaei said during the European trading session on Monday that mediation efforts by Gulf countries towards the United States (US)-Iran diplomatic solution remain active, but Tehran is not having direct talks with Washington.
Euro: Energy risks cap recovery against US Dollar – ING
ING’s Francesco Pesole notes that EUR/USD has rebounded above 1.140 on lower Oil prices but argues the move looks optimistic without a clear de-escalation in geopolitical tensions.
ECB’s Kazimir: One more interest rate hike is needed
European Central Bank (ECB) Governing Council member and Governor of the National Bank of Slovakia (NBS), Peter Kazimir, seems to be leaning towards a hawkish monetary policy outlook.