Market news
Crypto, stocks, forex and macro, aggregated for traders.
GBP/JPY Hits January 2008 High Amid Yen Weakness
The British pound surged to its highest level against the Japanese yen since January 2008 on Monday, as the yen extended its decline across the board. USD/JPY also climbed back toward multi-year highs.
AUD/USD Tests Key Support at 200-DMA, Rebound Risk – SocGen
Societe Generale notes AUD/USD is testing major support at the 200-day moving average near 0.6870/0.6830 after breaking below the May trough at 0.7070, warning of rebound risk from this zone.
GBP/USD Recovery Stalls Near 1.3400 Resistance
GBP/USD remains sideways for a second day as the recovery from recent lows encounters strong resistance near the 1.3400 zone, following a 1% weekly gain that triggered a bullish reversal pattern on the weekly chart.
FedWatch Probability at 24.1% as Weak Data Week Begins; Warsh Aims to Squash Speculation
The CME FedWatch Tool shows a 24.1% probability of a rate move, while this week's light data schedule intensifies focus on the Fed minutes. New Fed chief Warsh is reportedly trying to curb speculation about forward guidance.
ING Expects RBNZ 25bp Hike in July to 2.50% Despite Oil Drop
ING strategist Francesco Pesole forecasts the Reserve Bank of New Zealand will deliver a 25-basis-point insurance hike in July, raising the policy rate to 2.50%.
US Jobs Numbers Revised Downward Again
US employment figures have been revised lower for another month, pointing to a weaker labor market than initially reported. The revisions reinforce concerns about economic softness.
RBNZ Expected to Deliver 25bp Insurance Hike in July Despite Oil Price Drop
The Reserve Bank of New Zealand is expected to deliver a 25 basis point 'insurance' rate hike at its July 8 meeting, even as the collapse in oil prices has made the decision more finely balanced. Analysts believe the central bank will proceed to avoid disappointing hawkish market expectations.
EUR/USD Consolidates Above 1.1400 as Markets Reassess ECB and Fed Paths
EUR/USD remains range-bound above 1.1400 as traders weigh shifting expectations for ECB and Fed policy, with a September ECB rate hike now priced below 50%.
Euro Winding Up for Another Leg Lower
EUR/USD has been trading inside a descending channel since peaking near 1.2087 at the start of the year, suggesting further downside is likely.
Pound Gains on Political Support as Dollar Recovers From Worst Week
The British pound found support from political developments, while the US dollar bounced back from its worst week since April. US equity markets were closed for Independence Day as investors reassess Fed tightening expectations ahead of the June FOMC minutes.
Japanese Yen Falls to Near 40-Year Lows as Intervention Risks Loom
The Japanese Yen resumed its downtrend against the US Dollar on Monday, approaching levels not seen in 40 years, with traders wary of potential intervention by Japanese authorities.
Euro Set for Gradual Appreciation as Eurozone Inflation Falls More Than Expected
Eurozone flash inflation for June dropped more than anticipated, with both headline and core readings declining, bringing the core rate closer to the ECB's 2% target. This supports a gradual appreciation of the euro against the dollar.
USD/JPY bulls regain control after correction, eye multi-decade peak
USD/JPY surged in early Monday trading, nearly reversing last week's pullback from 162.84 to 160.47. The correction was contained by the 23.6% Fibonacci retracement of the 155.02–162.84 rally, indicating bulls remain in control.
EUR/GBP Hits One-Year Low Near 0.8560 Despite Positive Eurozone Data
The Euro extended losses against the British Pound on Monday, sliding to session lows below 0.8560 and approaching one-year lows after a Friday rebound failed to hold.
Rabobank Cuts EUR/USD Forecast After Drop Below 1.15
Rabobank's senior FX strategist Jane Foley says EUR/USD has fallen below the bank's prior one-month forecast of 1.15, prompting a reassessment of the pair's outlook.
GBP Remains Strongest G10 Currency Since By-Election: SocGen
Societe Generale notes that sterling has held its position as the strongest G10 currency since the Makerfield by-election, supported by a reduced speculative short position.
USD/CHF Price Forecast: Aiming for 0.8065 Amid US Dollar Strength
The Swiss Franc pares recent gains against the US Dollar as fresh Middle East tensions dampen risk appetite, with the pair targeting the 0.8065 area.
Gold Price Falls as Middle East Tensions Boost US Dollar Demand
Gold (XAUUSD) declined as a stronger US Dollar, fueled by heightened geopolitical uncertainty in the Middle East, weighed on the precious metal.
Yen Weakens Again, USD/JPY Above 162.00 as Policy Risks Support Higher Yields – MUFG
The Japanese Yen weakened again, pushing USD/JPY above 162.00. MUFG's Lee Hardman notes that policy risks are supporting higher yields.
NZD/USD Slides on Commodity Weakness and RBNZ Uncertainty
The New Zealand Dollar fell 0.50% against the US Dollar, trading near 0.5680, pressured by lower commodity prices and ongoing uncertainty over Reserve Bank of New Zealand policy.
US Jobs Miss Deepens as June Payrolls Rise Only 57,000
June US employment report shows payrolls rising by just 57,000, far below consensus, keeping the yen on watch as markets turn focus to ISM services data.
ING: Dovish Signals Challenge CEE Currency Gains
ING strategist Frantisek Taborsky notes that weaker US data and a softer dollar boosted CEE currencies, but attention now turns to local inflation and central bank policy, which may challenge recent gains.
Silver price falls to $62.02, down 0.64% on Monday
Silver (XAG/USD) declined to $62.02 per troy ounce on Monday, a 0.64% drop from the previous $62.42.
USD Stabilizes After Long Weekend, Fed Minutes in Focus
The USD appears to be recovering after a long weekend and a weak US June employment report. Market attention turns to the Fed's June meeting minutes for further clues.