Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
Japanese Yen: Intervention risks rise again – ING
ING’s Chris Turner highlights that USD/JPY is grinding higher above 162 as higher energy prices pressure Asian currencies. He notes that Japanese authorities may follow a similar intervention pattern to last year, with potential action ahead of the Marine Day holiday.
British Pound: Rally fades into range trade against US Dollar – UOB
UOB’s Quek Ser Leang and Lee Sue Ann note that GBP/USD gapped lower after briefly breaking above 1.3445, with momentum turning down and risks of a test below 1.3360, though 1.3320 is seen as distant for now.
EUR/GBP Price Forecast: Steadies near 0.8500 with upside attempts limited
The Euro (EUR) is trading practically flat against the British Pound (GBP) on Monday after dropping about 2% over the past three weeks. Euro bulls remain subdued amid the risk-averse mood, but sellers are struggling to find acceptance below 0.8500.
British Pound remains subdued as US-Iran tensions lift US Dollar
GBP/USD remains in negative territory after paring daily losses, trading around 1.3390 during the early European hours on Monday. The pair faces challenges as the US Dollar (USD) gains ground on rising safe-haven demand amid intensifying tensions in the Middle East.
Turkey Current Account Balance came in at $-1.459B, below expectations ($-0.96B) in May
Turkey Current Account Balance came in at $-1.459B, below expectations ($-0.96B) in May
New Zealand Dollar holds steady near 0.5750 as US launches new wave of strikes against Iran
The NZD/USD pair trades on a flat note near 0.5760 during the early European trading hours on Monday. Escalating geopolitical tensions in the Middle East following the US's launch of fresh missile attacks against Iran on Sunday boost the US Dollar (USD) as a safe-haven asset.Â
Forex Today: US Dollar benefits from risk aversion as Middle East situation heats up
Here is what you need to know on Monday, July 13:
Euro: Range trading with downside risks against US Dollar – UOB
UOB’s Quek Ser Leang and Lee Sue Ann highlight that EUR/USD has slipped after testing 1.1460, with increasing downward momentum but major support at 1.1360 seen as difficult to reach near term. For the coming 1–3 weeks, they expect EUR/USD to remain in a 1.1360–1.1450 range.
Euro flirts with 1.1400 on risk-averse markets as Iran’s war escalates
The Euro (EUR) depreciates moderately against the US Dollar (USD) on Monday, as escalating tensions between the US and Iran and the closure of the Strait of Hormuz dampened appetite for risk and boosted inflationary pressures at the week's opening.The EUR/USD pair is trading at the 1.1400 area at th
Japan has no plan to change GPIF's target asset allocation — Reuters
Japan currently has no immediate plans to change target asset allocations of its state pension funds but could work within existing allowable ranges to direct more investment to domestic assets, people with knowledge of government deliberations told Reuters.
Asian stocks trade lower on renewed US-Iran war tensions, South Korea’s KOSPI leads losses
Most Asian equities trade in negative territory on Monday amid renewed geopolitical tension in the Middle East after reports of US-Iran airstrikes and Tehran's closure of the critical Strait of Hormuz.Â
British Pound holds steady above mid-216.00s as Iran risks and rate gap weigh on JPY
The GBP/JPY cross rebounds a few pips following an Asian session dip to mid-216.00s on Monday, stalling its modest pullback from the highest level since January 2008, touched last week.
USD/JPY Price Forecast: Hovers around nine-day EMA near 162.00
USD/JPY gains ground after two days of losses, trading around 162.00 during the Asian hours on Monday. The currency pair is keeping a bullish near-term bias as spot holds above both the nine-period and 50-period Exponential Moving Averages (EMAs).