Market news
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AUD/USD Retreats from 38.2% Fibo Hurdle, Holds Above 0.6900
The AUD/USD pair snapped a two-day winning streak and retreated from the 38.2% Fibonacci level during Monday's Asian session, but remains above 0.6900.
Silver Price Corrects to Near $61.80, Down 1%
Silver (XAG/USD) fell 1% to around $61.80 during Asian trading on Monday, reversing a four-day winning streak. The decline comes as rising bearish bets on oil prices help limit further downside.
Gold Recaptures 21-Day SMA but Eases from Highs as USD Strengthens
Gold pulled back from ten-day highs above $4,200 early Monday as deteriorating risk sentiment boosted safe-haven demand for the US dollar. The metal still holds above its 21-day SMA, but sellers remain active.
Gold Eases from Two-Week High Below $4,200 as USD Strengthens
Gold (XAU/USD) pulled back from its two-week high just above $4,200 during Asian trading as the U.S. dollar gained traction, capping further upside.
Canadian Dollar Weakens Despite Higher Oil Prices, USD/CAD Edges Higher
The Canadian Dollar weakened on Monday, pushing USD/CAD higher to around 1.4210, though gains may be capped as rising oil prices could support the loonie.
NZD/USD Falls on Weak NZIER Outlook and Commodity Price Drop
The New Zealand Dollar declined against the US Dollar on Monday, with NZD/USD trading around 0.5690. The move follows a 1.0% drop in the ANZ World Commodity Price Index for June amid easing Middle East tensions and lower oil prices.
GBP/USD Holds Steady Near 1.3350 as Iran Tensions Cap Gains
The British pound trades in a narrow range around 1.3350 against the U.S. dollar during the Asian session, unable to extend last week's rally as geopolitical concerns over Iran limit upside momentum.
Japanese Yen Weakens as Import Costs Surge Despite JGB Yields at 30-Year High
The Japanese Yen continues to decline against the US Dollar as high import costs outweigh the boost from 10-year JGB yields hitting a 30-year peak. USD/JPY traded around 161.60 on Monday.
PBOC Sets USD/CNY Fix at 6.8066, Slightly Weaker Yuan
The People's Bank of China set the USD/CNY central parity at 6.8066 for Monday, weaker than Friday's fix of 6.8047, indicating a slight depreciation of the yuan.
Euro Consolidates Below Mid-1.1400s as Hormuz Risks Support USD
EUR/USD trades in a narrow band below mid-1.1400s during Asian session, with safe-haven demand for the dollar underpinned by geopolitical risks in the Hormuz region.
AUD/USD Slides After Weaker TD-MI Inflation Data
The Australian dollar declined against the US dollar following the release of the TD-MI Inflation Gauge, which came in at -0.4% month-over-month, worse than the expected -0.3%.
J. Safra Sarasin Takes Full Control of Saxo Bank with Purchase of Kim Fournais' Remaining Stake
Bank J. Safra Sarasin agreed to buy founder Kim Fournais' remaining 28.7% stake, taking 100% ownership of Saxo Holding AG and, indirectly, Saxo Bank. Saxo will continue operating separately, with Fournais staying on as chairman of the board.
FxPro Cuts Crypto And Index CFD Spreads To Zero In Bid For High-Volume Traders
FxPro has introduced zero spreads on Bitcoin, Ethereum, and major index CFDs for its Raw+ account holders, while cutting spreads on Standard accounts by up to 80%.
Amana Hires CTO Andrey Artamonov to Boost MENA Trading
MENA neobroker amana has named Andrey Artamonov, former CTO of Devexperts, as its new Chief Technology and Information Officer to bolster its technology infrastructure and support rapid user expansion.
J. Safra Sarasin Group to acquire remaining stake in Saxo Bank; Kim Fournais remains Chairman
Bank J. Safra Sarasin will buy the remaining 28.69% stake in Saxo Holding from founder Kim Fournais, who will remain chairman of Saxo Bank. The deal gives J. Safra full control.
India Allows Banks to Lend Against Silver as Imports Plunge 87% in May
India's silver imports crashed 87% in May, yet the move reflects a strategic shift as the country now permits banks to use silver as loan collateral for the first time in the world's largest silver market.
US Economy Shows Resilience Despite Iran War Disruption
Nearly four months after the start of the Iran war, the US economy remains resilient despite initial energy market disruption. Recent diplomatic progress between Washington and Tehran has eased supply shock concerns.
Vantage Launches 24/7 Gold CFD Product
Vantage launched XAUUSD247, a 24/7 over-the-counter gold CFD with one-ounce contracts and leverage up to 100x.
US Dollar's Resilience Tested by Fed Minutes and Jobless Claims
The upcoming week will test major currency pairs as investors digest weaker US labor market data and await Federal Reserve minutes and jobless claims.
UOB: USD/CNH to Stay Range-Bound, Neutral Bias
UOB's Quek Ser Leang notes a slight pickup in downward momentum for USD/CNH but expects the pair to remain range-bound, with a lower intraday band around 6.7820–6.7940 and a neutral 1–3 week view between 6.7750 and 6.7950.
NZD/USD Rebounds Above 0.5700, Faces Resistance at 0.5750
The Kiwi dollar recovered above 0.5700 on Friday, gaining over 0.22% after hitting a daily low of 0.5689, but bears remain active around the 0.5750 level.
USD/SGD Consolidating in Range as Singapore Economy Strengthens – Commerzbank
Commerzbank notes that strong Singapore manufacturing and electronics PMIs support a constructive growth outlook, with Q2 GDP expected to exceed Q1's 6% expansion, keeping USD/SGD range-bound.
Societe Generale: Yuan Bulls Extend Gains on Strong China PMI
Societe Generale notes that stronger-than-expected China PMI data supports slow but steady growth, reducing the need for PBoC easing and boosting the yuan. USD/CNY has fallen back below its 50-day moving average.
Japanese Yen Holds Steady Amid US Independence Day Holiday
USD/JPY posts modest gains on Friday amid thin trading due to the US Independence Day holiday, as the US dollar stabilizes after a sharp decline on Thursday following softer-than-expected US labor market data.