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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
Brent: Geopolitics lift prices as speculators stay cautious – ING
ING analysts Warren Patterson and Ewa Manthey note that Brent Oil prices have risen sharply as tensions escalate in the Persian Gulf and transit through the Strait of Hormuz slows. They highlight that speculators have trimmed net long positions in ICE Brent despite higher prices.
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:
Canadian Dollar: Strong US Dollar and oil outlook weigh – Commerzbank
Commerzbank’s Michael Pfister notes that recent Canadian labour data and a new US-Canada bridge agreement are not the main drivers of USD/CAD above 1.41.
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.
Australian Dollar underperforms amid cautious market mood
The Australian Dollar (AUD) underperforms its major currency peers, trading 0.32% lower to near 0.6930 against the US Dollar (USD) during the early European trading session at the start of the week.
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
British Pound holds steady above mid-216.00s as Iran risks and rate gap weigh on JPY
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.
Indian Rupee weakens amid surging Oil prices, India's CPI rises strongly
The Indian Rupee (INR) trades significantly lower against the US Dollar (USD) on Monday. The USD/INR jumps to over a six-week high around 95.70 as renewed Middle East hostilities have strengthened oil prices.
Saudi Arabia Gold price today: Gold falls, according to FXStreet data
Gold prices fell in Saudi Arabia on Monday, according to data compiled by FXStreet.