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EUR/USD Steady Around 1.1445 Amid Renewed Hormuz Tensions
The euro holds near 1.1445 in early Asian trading as traders assess renewed hostilities in the Hormuz region. The preliminary Michigan Consumer Sentiment Index for July is due later today.
Iran Tells Houthis to Close Red Sea Oil Route if US Strikes
Iran has reportedly asked Yemen’s Houthi militia to prepare to close the Red Sea oil route if the US attacks Iranian power infrastructure, threatening global energy supplies.
Gold Drops to Eight-Month Low Below $4,000 as Middle East Tensions Fuel Rate Hike Bets
Gold price (XAU/USD) fell to an eight-month low near $3,975 during early Asian trading on Friday, extending its decline as rising Middle East tensions stoked inflation concerns and reinforced expectations of higher US interest rates.
BoK Hikes 25bp to 2.75%, Hawkish Guidance on GDP and Inflation
The Bank of Korea raised its policy rate by 25 basis points to 2.75%, with guidance that GDP and core inflation will exceed earlier forecasts, according to BNY's Geoff Yu.
AUD/USD Stalls at 0.7000 for Fourth Straight Session
The Australian Dollar remains flat against the US Dollar, pinned to the 0.7000 level for a fourth consecutive session.
Sterling Slips Below 1.3500 as New UK PM Faces Familiar Headwinds
GBP/USD fell nearly 0.5% to below 1.3500 after failing to clear 1.3550 for a second straight day. The British pound weakens as a new Prime Minister takes office amid ongoing economic challenges.
China's July Politburo Meeting Expected to Shift to Easing Tone
Beijing is likely to adopt stronger easing language at the July Politburo meeting after a weak second quarter, though expectations for a large stimulus package should remain tempered.
GBP/JPY Retreats from 18-Year High, Yen Recovers
The GBP/JPY pair retreated from a new 18-year high of 219.62 on Wednesday, falling to 218.80 on Thursday as the Japanese Yen recovered strength.
USD/CNH Faces Potential Decline to 6.7600, Says UOB
UOB analysts note that USD/CNH downside momentum is building after the pair slipped to 6.7653, with a possible test of major support at 6.7600.
Hawkish BoK Hike Supports South Korean Won, Says BBH
Brown Brothers Harriman notes the Korean Won is outperforming after the Bank of Korea's hawkish 25 bps hike to 2.75%, with expectations that growth and core inflation will exceed 2026 forecasts.
Thai Baht Overvaluation Signals Weakness vs US Dollar: MUFG
MUFG analyst Lloyd Chan warns that the Thai baht's overvaluation is likely to lead to weakness against the US dollar, despite softer US inflation data weakening the greenback.
USD/CHF Rebounds from 0.8042 Support, Bulls Target 0.81
USD/CHF reversed course, rising over 0.40% as the dollar recovered amid risk aversion, Middle East tensions, and strong US data. The pair bounced from 0.8042 support and now trades near 0.8088, with bulls eyeing the 0.81 level.
US Dollar Rises on Resilient Labor Data; Oil and Gold Fall
The US Dollar Index climbed toward 100.80 after initial jobless claims fell to 208K, below the expected 217K. Meanwhile, oil and gold prices declined.
USD/SGD Downside Momentum Intensifies, UOB Sees Support at 1.2875
UOB analysts Quek Ser Leang and Lee Sue Ann note that USD/SGD downside momentum has intensified after a sharp intraday swing, with firm support highlighted at 1.2875.
Mexican Peso Falls on Risk Aversion, Rising Energy Prices
The Mexican Peso weakened about 0.30% on Thursday as increased risk aversion from an escalation in the Middle East conflict drove energy prices higher and underpinned the US Dollar.
OCBC: USD/CNY Extends Decline as PBoC Validates Gradual Yuan Gains
OCBC strategists note USD/CNY extended its decline after softer US CPI and PPI data, with firmer PBoC fixings supporting gradual yuan appreciation, though gains remain capped.
EUR/USD Slides as US Jobless Claims Support Dollar
EUR/USD fell to around 1.1440 on Thursday, retreating about 0.2%, as stronger-than-expected US jobless claims boosted the US Dollar and weighed on the euro.
Australian Dollar Price Forecast: Further gains remain on the cards
AUD/USD faces resistance near 0.7000 but the pair's constructive outlook remains intact above its 200-day SMA.
Silver Tests $55 Support as Dollar Recovery Pressures XAG/USD
Silver extends losses on Thursday as the US dollar rebounds and Treasury yields stabilize after softer inflation data, with XAG/USD falling 3.5% to trade near $55.75.
Gold drops 1.8% on oil shock, revives Fed rate hike bets
Gold price fell over 1.8% as US-Iran tensions fuel oil supply disruption fears, driving energy prices higher and reviving expectations of further Fed rate hikes.
GBP/USD Dips Seen as Buying Opportunity: Scotiabank
Scotiabank strategists view GBP/USD's current dips as a buying opportunity, noting the pullback follows a strong advance driven by expectations of market-friendly policies.
EUR/JPY Holds Near One-Month High, Edges Lower Despite ECB Rate Hike Expectations
The euro traded slightly lower against the yen on Thursday, hovering around 185.80 after hitting a one-month high earlier, despite expectations of further ECB rate hikes.
Gold sellers push XAU/USD to fresh weekly low near $4,000
The US Dollar strengthened on Thursday, reversing a two-day decline, amid persistent Middle East tensions. This pushed XAU/USD to a fresh weekly low below the $4,000 mark.
NZD/USD Holds Near One-Month High as RBNZ Hawkish Stance Supports Kiwi
NZD/USD is hovering around 0.5842 after hitting a one-month high, supported by the RBNZ's hawkish policy outlook but capped by a stronger US dollar. Buyers remain in control near the recent peak.