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Euro extends the range play above 1.1400 as Hormuz risks support USD
The EUR/USD pair extends its sideways consolidative price move during the Asian session on Tuesday, though it manages to hold comfortably above the 1.1400 mark. Moreover, spot prices remain well within striking distance of a nearly two-week high, touched last Thursday.
Australian Dollar declines as ANZ–Indeed Job Ads drop in June
AUD/USD inches lower after two days of gains, trading around 0.6950 during the Asian hours on Tuesday. The Australian Dollar (AUD) faces downward pressure as weakening economic sentiment amid a cooling labor market signals that high borrowing costs are taking a toll.
Japan JP Foreign Reserves fell from previous $1305.9B to $1B in June
Japan JP Foreign Reserves fell from previous $1305.9B to $1B in June
Japan Overall Household Spending (YoY) registered at -0.3% above expectations (-2.5%) in May
Japan Overall Household Spending (YoY) registered at -0.3% above expectations (-2.5%) in May
Japan Labor Cash Earnings (YoY) came in at 3.2% below forecasts (3.4%) in May
Japan Labor Cash Earnings (YoY) came in at 3.2% below forecasts (3.4%) in May
GBP/JPY Price Forecast: Rallies and hits 18-year highs above 217.00
The British Pound rallies to an 18-year high against the Japanese Yen, registering solid gains of over 0.77% as the GBP/JPY clears the previous year-to-date (YTD) high of 216.60 as the cross-pair clears the 217.00 figure for the first time since January 2008.
Reserve Bank of New Zealand: Insurance hike risk balance – ING
ING’s Francesco Pesole expects the Reserve Bank of New Zealand (RBNZ) to deliver a 25bp ‘insurance’ hike in July, taking the policy rate to 2.50%, despite the sharp drop in Oil prices.
Turkish Lira: Inflation momentum still too strong – Commerzbank
Commerzbank’s Tatha Ghose notes that June Turkish Consumer Price Index (CPI) and Producer Price Index (PPI) data were better than expected as the energy shock faded, with headline CPI slowing to 32.1% year-on-year and PPI to 28.1%.
Australian Dollar: Softer inflation challenges RBA stance – BNY
BNY’s Geoff Yu reports that Australia’s Melbourne Institute inflation gauge fell again in June, with both headline and trimmed mean measures easing.
Euro: Range-bound against US Dollar under Fed support – ING
ING’s Chris Turner says EUR/USD is consolidating above 1.1400 as markets reassess European Central Bank (ECB) and Fed paths, with a September ECB hike priced below 50% probability.
162.30: Japanese Yen falls back to near 40-year lows as intervention risks loom
The Japanese Yen (JPY) has resumed its broader downtrend against the US Dollar (USD) on Monday following a mild relief last week.
Japanese Yen: Weakness and intervention risks persist against US Dollar – HSBC
HSBC strategists argue that the USD/JPY pair is trading near its highest level in around 40 years and may have shifted into a new, higher range.
Euro remains depressed against British Pound despite positive Eurozone data
The Euro (EUR) remains depressed near one-year lows against the British Pound (GBP) on Monday, hitting session lows below 0.8560 after pulling back from Friday’s highs at 0.8575.