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Gold gains despite firm US Dollar
Gold price (XAU/USD) drifts higher on Friday as the Greenback stands firm, even as growing speculation that the US-Iran war may last longer than expected could, in the end, hurt the prospects of the yellow metal. The XAU/USD trades at $4,065, up 0.38%.
Indonesian Rupiah: BI pause seen as hawkish hold – UOB
UOB Global Economics & Markets Research notes that Bank Indonesia kept its policy rate at 5.75%, opting to let earlier tightening filter through.
Silver Price Forecast: XAG/USD consolidates as bulls struggle to clear the 21-day SMA
Silver (XAG/USD) edges higher on Friday as a pullback in Oil prices pushes US Treasury yields lower, while the US Dollar (USD) fluctuates near recent highs. At the time of writing, XAG/USD trades around $58.60, up 2.40% on the day.
The Dow Jones Industrial Average buys a rumour and sleeps through a tariff regime
The index that spent this week absorbing a war premium trades near 52,000 on Friday, around 325 points to the good side, on the strength of a wire report that its own three sources undercut in the same breath.
Singapore Dollar: Hawkish MAS stance supports SGD – MUFG
MUFG’s Lloyd Chan expects MAS to keep policy unchanged at the July meeting while maintaining a tightening bias, distinguishing between energy-driven and domestically generated inflation. Strong Singapore growth and a positive output gap justify tight settings.
Equities: Hyperscaler stress and chip volatility – Commerzbank
Commerzbank’s Marco Stoeckle argues that the AI trade is at a crossroads, with ‘Mag 7’ euphoria fading and hyperscalers facing cash flow and leverage concerns. In contrast, semiconductor and memory stocks, tracked by SOX and KOSPI, saw hyperbolic gains before sharp drawdowns.
US Dollar: Softer yields curb gains ahead of FOMC – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret say broad US Dollar (USD) gains are moderating as United States (US) yields retreat and risk appetite improves after a tech-led selloff.
Euro: Choppy range view holds against US Dollar – Rabobank
Rabobank's Senior FX Strategist Jane Foley describes EUR/USD as wary after the July European Central Bank (ECB) meeting. Foley notes that the Euro (EUR) failed to gain support despite a hawkish ECB tone, while the Dollar benefits from safe haven demand and Federal Reserve (Fed) expectations.
British Pound rises as Oil slide softens USD, Fed hike bets increase
The Pound Sterling advances by some 0.20% on Friday as Oil prices tumble, weighing on the US Dollar, while the US-Iran conflict signals a further escalation, which market participants ignored. Despite registering daily gains, the GBP/USD is poised to finish the week with losses of nearly 0.70%.
Oil: Supply risks keep prices elevated – BNY
BNY’s Geoff Yu notes that Brent has retreated slightly below $100 but remains supported by renewed Middle East tensions, Red Sea and Strait of Hormuz disruptions, and Kazakhstan’s export halt. Institutional flows show high-conviction re-accumulation of energy exposure from a still-depleted base.
Swiss Franc gains slightly against US Dollar as Oil prices ease
USD/CHF trades flat on Friday as a pullback in Oil prices weighs modestly on the US Dollar (USD) and US Treasury yields. However, the Middle East war and hawkish Federal Reserve (Fed) expectations keep an underlying floor under the Greenback.
British Pound: Strong UK data fail to lift GBP against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret report the British Pound (GBP) is slightly higher versus the US Dollar (USD) but lagging most G10 peers.
Japanese Yen stays under pressure as resilient US economy supports the Dollar
USD/JPY edges lower on Friday, trading around 163.70, down 0.09% on the day at the time of writing, after hitting a fresh near 40-year high on Thursday.