Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
Aluminium: Deficit outlook supports rebound ā ING
INGās Warren Patterson and Ewa Manthey note Aluminium has extended gains after hitting a fourāmonth low, as lower prices attracted Chinese buying.
Dow Jones futures fall on increasing risk aversion, FOMC Minutes awaited
Dow Jones futures decline 0.40% to trade around 52,980 during European trading hours on Wednesday. Meanwhile, S&P 500 futures and Nasdaq 100 futures fall 0.17% and 0.14%, trading near 7,540 and 29,350, respectively.
6.8000: Chinese Yuan looks contained despite PBoC push to make Hong Kong main offshore hub
The offshore Chinese Yuan (CNH) is capturing market attention following a sweeping set of structural measures announced by the People's Bank of China (PBoC) to cement Hong Kongās status as a global offshore hub for the Yuan.Ā
GBP/JPY Price Forecasts: Pound nears 217.00 with the 217.24 all-time high eyed
The British Pound (GBP) has resumed its broader uptrend against the Japanese Yen (JPY) on Wednesday, with price action drawing closer to the 217.00 level and the all-time high of 217.22, on the bullsā focus.
Gold: Rallies face headwinds from Oil and rates ā OCBC
OCBC Bankās Sim Moh Siong and Christopher Wong explain that the precious-metals complex has come under renewed pressure following the recent spike in Oil prices. Gold is down nearly 2% and Silver more than 4% week-to-date, as geopolitics work mainly through the Oil, inflation and rates channel.
US President Trump: I think MoU with Iran is over
United States (US) President Donald Trump said during European trading hours on Wednesday that the memorandum of understanding (MoU) with Iran, aimed at ending the war in the Middle East, is over.
EU Foreign Affairs Chief Kallas condemns Iranās attacks on Bahrain and Kuwait
European Union (EU) Foreign Affairs Chief Kaja Kallas said during the European trading session on Wednesday that exchanges of fire between the United States (US) and Iran further complicate already fraught talks to end the war.
US Dollar: Reserve role questioned - Rabobank
Rabobank strategist Michael Every discusses contrasting views on the Dollarās global role.
Polish Zloty: Neutral MPC guidance points to underperformance ā Commerzbank
Tatha Ghose at Commerzbank expects Polandās NBP to leave rates at 3.75%, with forwards already reflecting this. With inflation momentum near zero and energy-driven disinflation back, earlier hike bets have been unwound and some analysts now discuss potential easing from Q4 or March 2027.
Forex Today: Markets await FOMC Minutes while tensions in Middle East escalate
Here is what you need to know on Wednesday, July 8:
Iran says any location that supports US attacks are legitimate targets
According to the Iranian State Media, Iran's Top Joint Military Command said, āTehran considers any location that supports United States (US) attacks on Iran as its legitimate target.ā However, there has been no official confirmation from other media outlets.
Japanese Yen: Weak tone within defined trading band against US Dollar ā UOB
United Overseas Bankās (UOB) Quek Ser Leang highlights that USD/JPY is trading firmly after a sharp rise, with intraday bias tilted higher toward 162.70 while major resistance at 163.00 is expected to hold.
WTI slips below $72.00 despite renewing supply concerns
West Texas Intermediate (WTI) oil price inches lower after paring daily gains, trading around $71.70 per barrel during the European hours on Wednesday.