Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
Why the New Zealand Dollar may not benefit from expected RBNZ rate hike
The New Zealand Dollar (NZD) continues to trade subdued against the US Dollar (USD) as markets brace for the Reserve Bank of New Zealand's (RBNZ) upcoming monetary policy decision.Â
US Dollar: Benign FX risk score with hawkish fed pricing – DBS
DBS Group Research’s FX Risk Score note by Chua Han Teng and Daisy Sharma highlights that FX risk has risen modestly in May and June but remains below prior Middle East conflict highs.
China Foreign Exchange Reserves (MoM) came in at $3.416T, below expectations ($3.44T) in June
China Foreign Exchange Reserves (MoM) came in at $3.416T, below expectations ($3.44T) in June
Forex Today: Markets cling to a cautious stance after choppy action to start week
Here is what you need to know on Tuesday, July 7:
Euro: Le Pen ruling seen as low impact – ING
Francesco Pesole at ING argues that Marine Le Pen’s eligibility ruling matters more for French politics than markets, as investors have largely priced in a National Rally (RN) victory under Le Pen or Bardella with fiscal prudence.
Canadian Dollar weakens despite higher oil prices
USD/CAD gains ground for the third successive day, trading around 1.4210 during the European hours on Tuesday. The pair appreciates as the US Dollar (USD) holds ground, which could be attributed to the renewed geopolitical tensions in the Strait of Hormuz.
ECB's Panetta: Strait of Hormuz governance is still uncertain
European Central Bank (ECB) policymaker and Governor of the Bank of Italy, Fabio Panetta, said during the European trading session on Tuesday that upside risks to inflation in the Eurozone economy remain intact, as the governance of the Strait of Hormuz, a critical chokepoint to almost 20% of global
British Pound: Strong momentum eyeing 1.3410–1.3445 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang highlights a sharp GBP/USD advance to 1.3397 and a firm close at 1.3391. Intraday, Leang sees scope for further gains toward 1.3410, though 1.3445 may stay out of reach.
Iran’s Foreign Minister Araghchi warns against US threats
Iran’s Foreign Minister Abbas Araghchi has warned through a post on X, formerly known as Twitter, that the deal with United States (US) could be hampered if the nation continues with its threats. “Negotiations on a final deal will not commence if threats continue.
New Zealand Dollar: RBNZ hike seen but path questioned – Commerzbank
Volkmar Baur at Commerzbank expects the Reserve Bank of New Zealand (RBNZ) to raise rates at its July meeting to reinforce its inflation-fighting credentials, which should initially support the New Zealand Dollar (NZD).
Japanese Yen ticks up above 162.00 US Dollar and eases intervention risks
The Japanese Yen (JPY) posts minor gains amid a somewhat softer US Dollar (USD) on Tuesday. The USD/JPY pair has pulled back to session lows just below 162.00 from Monday's highs in the 162.40 area, easing concerns about an immediate intervention by the Japanese authorities.
Federal Reserve: New communication risks under Warsh – BNY
BNY Markets’ John Velis and David Tam examine upcoming Federal Open Market Committee (FOMC) minutes from Kevin Warsh’s first meeting as Chair.
GBP/USD Price Forecast: Stability above 20-day EMA backs further upside
The British Pound (GBP) ticks lower to near 1.3380 against the US Dollar (USD) during the European trading session on Tuesday. The GBP/USD pair edges down as the US Dollar gains slightly; however, the Cable is broadly upbeat.