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Canadian Dollar Weakest Reserve Currency as Growth, Spreads Weigh – NBC
National Bank of Canada analysts point to Canada's deteriorating real growth, negative 2-year spreads vs. the U.S., and falling gold as factors driving the Canadian Dollar to its weakest among reserve currencies, with USD/CAD near 1.39.
Gold Holds Near 2.5-Month Low as Upside Capped Below $4,360
Gold (XAU/USD) trades nearly flat near two-and-a-half-month lows at $4,268 on Tuesday, with gains limited below the $4,360 level despite a softer US dollar.
US Dollar Index Slumps to Near 99.75 on Iran Deal Hopes
The US Dollar Index fell to about 99.75 during European trading as renewed hopes for a US-Iran peace deal reduced demand for safe-haven assets.
BoJ May Pause JGB Purchase Cuts After March 2027, BNY Reports
BNY's Bob Savage reports Bank of Japan officials consider pausing further JGB purchase reductions after March 2027, keeping near ¥2.1tn. The June meeting is expected to deliver a rate hike.
Australian Dollar Underperforms as RBA Rate Hike Fears Wane
The Australian Dollar is trading lower against most major peers during European hours on Tuesday, despite a slight 0.15% gain versus the US Dollar, as expectations for further RBA rate hikes recede.
BBH: Yield Spreads Point to AUD/USD Downside Near 0.7050
Brown Brothers Harriman notes AUD/USD consolidation around 0.7050, with yield spreads suggesting further downside risk.
Japanese Yen Weakens Despite BoJ Rate Hike Expectations
The Japanese Yen remains under pressure, trading above 160.00 against the US Dollar even as markets anticipate a rate hike from the Bank of Japan.
GBP/USD Edges Higher to 1.3390 as Weaker Dollar Supports, but UK Risks Cap Gains
GBP/USD rose to 1.3390 on Tuesday, up 0.42%, driven by a weaker US dollar after confirmed direct attacks between Israel and Iran, though gains remain limited by UK political and growth risks.
Markets Eye ECB Hike and SpaceX IPO; Indonesia Raises Rates
European markets are subdued as traders await the ECB rate decision and the upcoming SpaceX IPO. Meanwhile, Indonesia's central bank has raised rates in an emergency move.
EUR/GBP Testing Two-Week Lows at 0.8630 as Bearish Pressure Grows
The euro weakened against the pound on Tuesday, with sellers targeting the 0.8630 support area, marking two-week lows and increasing bearish momentum.
USD Corrects Lower as Middle East Fears Ease, Fed Hawkishness Lingers
The US dollar corrected lower on Monday, reversing part of Friday's rally, as easing Middle East tensions reduced safe-haven demand, while hawkish Fed expectations continue to underpin the currency.
EUR/CHF Tests Key Resistance Band Near 200-Day MA – Societe Generale
Societe Generale notes EUR/CHF has formed a higher low near 0.9090, signaling reduced downside momentum as it approaches its 200-day moving average and a multi-year descending trendline.
Euro Edges Higher on ECB Tightening Hopes, Dollar Weakness
The euro extended gains for a second day on Tuesday, paring some of last week's losses, supported by expectations of further ECB tightening and mild US dollar weakness.
Japanese Yen Weakens Past 160.00 Despite BoJ Rate Hike Bets
MUFG analyst Lee Hardman notes the yen remains under pressure with USD/JPY trading above 160.00, even as markets price in a near-certain BoJ rate hike at the June meeting.
Rabobank: Bank of Canada to Hold Rate at 2.25% at June Meeting
Rabobank analysts expect the Bank of Canada to maintain its policy rate at 2.25% at the June 10 meeting, citing the impact of external shocks.
Hotter US Inflation Data Could Strengthen Fed Rate Hike Bets
Escalating Middle East tensions and a positive oil price start to the week revive inflation fears, reinforcing expectations that the Fed may need to raise rates further.
Silver Holds Steady Near $68.23 as Price Moves Little Changed
Silver prices (XAG/USD) traded at $68.23 per troy ounce on Tuesday, virtually unchanged from the previous day, according to FXStreet data.
Yen Steadies Near Lows as Ceasefire and Intervention Risks Balance
USD/JPY holds around 160.15, near its highest since April 30, as ceasefire hopes and Japan intervention threats offset each other.
OCBC: Dollar Rangebound with Upside Risks, No Fed Easing Through 2026
OCBC's FX strategist Sim Moh Siong says the US Dollar is consolidating after payroll-driven gains, with the bank now expecting no Fed rate cuts through 2026 and elevated 10-year yields.
EUR/USD Downtrend Targets Lower Support Levels: UOB
UOB analysts note short-term consolidation between 1.1505 and 1.1555 after last week's sharp decline, with the downtrend aiming for lower supports.
Canadian Dollar Rebounds, USD/CAD Halts Winning Streak
The Canadian dollar strengthened against the US dollar on Monday, pulling back from two-month highs as USD/CAD halted its four-day winning streak and traded around 1.3940 during European hours.
Swiss Franc Weakens Against Euro on Softer Rate Outlook – ING
The Swiss Franc has weakened against the Euro, with EUR/CHF drifting back to 0.92, as Swiss rates lag behind global movements and markets price in three ECB rate hikes over the next 10-12 months, according to ING's Chris Turner.
Dollar Holds Steering Wheel but Grip Weakens
The U.S. dollar remains the dominant force in FX markets, but its grip appears to be loosening today as traders await clearer signals. The author notes a lack of conviction after last week's rally.
USD/CHF Stalls Below 0.8000 as Bullish Momentum Persists
The USD/CHF pair is trading marginally lower on Tuesday but remains near two-month highs, with bulls unable to breach the 0.8000 psychological resistance. Downside attempts are contained above 0.7965, suggesting the bullish bias remains intact.