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Pound Sterling Gains 0.4% on Burhnham Fiscal Commitment
The Pound Sterling advanced 0.40% on Monday after Andy Burhnham, set to become the new Prime Minister, pledged to adhere to fiscal rules set by Chancellor Rachel Reeves.
HSBC: UK Leadership Turmoil and Weaker Carry Weigh on Sterling
HSBC warns that the British Pound faces increased downside risks following Prime Minister Starmer's resignation and the resulting political uncertainty, compounded by a weakening carry advantage.
OCBC Warns Asian FX Vulnerable on Dollar Strength, Risk-Off
OCBC strategists Sim Moh Siong and Christopher Wong expect Asian currencies to start the week softer, citing AI-led equity losses and renewed US–Iran tensions supporting the dollar.
AUD/USD Slips to Near Three-Month Low Ahead of RBA Minutes
The Australian Dollar edged lower on Monday, trading near 0.6880 against the US Dollar, a three-month low, as traders await the release of the Reserve Bank of Australia minutes for fresh direction.
EUR/USD Range Trading Likely to Persist – Scotiabank
Scotiabank strategists note EUR/USD is trading within a short-term channel as markets await ECB President Lagarde's comments at the Sintra symposium, which historically has had limited impact on near-term price action.
Commerzbank: China Slowdown Weighs on CNY Against USD
Commerzbank analysts note that China’s industrial profit growth slowed to 21.1% year-on-year in May, and weaker consumption and investment point to easing growth, putting pressure on the Chinese yuan against the US dollar.
China Targets Japan in Export Controls, Bolstering JPY Risk Premium
BNY notes that China's expanded export control list including Japanese entities raises supply chain risks for defense and rare earths, while strong Japanese commercial sales support the yen's risk premium.
Canadian Dollar Gains Relief Against USD as Rate Spreads Narrow
Scotiabank strategists note the Canadian Dollar (CAD) has strengthened modestly as US/Canada short-term rate spreads retreat from last week's highs, though differentials remain wide.
ECB Sintra Meeting: Fed's Warsh In Focus Ahead of Payrolls
The ECB's annual meeting in Sintra begins today, with Fed nominee Warsh speaking on Wednesday. Markets are also bracing for Thursday's US payrolls report.
Rabobank: De-dollarisation debate heats up as tariff safe-haven bid fails
Rabobank's senior FX strategist Jane Foley examines structural de-dollarisation themes alongside near-term dollar dynamics, noting that the tariff shock failed to generate a traditional safe-haven bid for the dollar and Treasuries in April.
BNY notes post-Sintra pattern favoring Euro against US Dollar
BNY's Geoff Yu highlights a recurring seasonal pattern where hawkish ECB communication from Christine Lagarde after the Sintra forum typically drives EUR/USD gains from late June into early July.
USD/JPY Challenges 2024 Peak Near 162.00 as Yen Weakens, Says SocGen
Societe Generale strategist Kenneth Broux notes USD/JPY has broken out of consolidation and is testing its 2024 high near 162.00. Strong May retail sales data supports expectations for further Bank of Japan action.
GBP Rises to 1.3230 as Burnham Pledges Continuation of Labour Policy
The British Pound strengthened 0.25% to near 1.3230 against the US Dollar after UK politician Burnham committed to maintaining current Labour Party policy.
Eurozone inflation relief from oil, ECB cautious – Commerzbank
Commerzbank analyst notes oil prices near pre-war levels reduce tail risks for growth and inflation, but euro area inflation is not falling fast enough to dispel ECB concerns.
Fed Hawkishness Replaces Oil as Key Dollar Support: OCBC
OCBC analysts point to a more hawkish Federal Reserve and a flatter US yield curve as the primary drivers of US dollar strength, superseding higher oil prices.
Pound Outlook: Investors 'Too Kind' to UK Fiscal Risks
Sterling continues to trade well against other European currencies, with markets currently not pricing in any additional fiscal risk premium for the UK.
Stronger Dollar and Lower Oil Weigh on CEE FX, ING Says
ING strategist Frantisek Taborsky notes that a stronger Dollar and lower Oil have led markets to price out most rate hikes in Poland and the Czech Republic, adding pressure on regional currencies.
EUR/USD Opens Week Near 1.1381 as Dollar Holds Firm on Hawkish Fed
EUR/USD started the trading week around 1.1381, with the US dollar maintaining strength after the Federal Reserve's hawkish June meeting.
EUR/USD Struggles to Reclaim 1.1400 Amid Geopolitical Uncertainty
The euro edged higher against the dollar on Monday but failed to confirm a break above the 1.1400 level, with the 13-month low near 1.1320 remaining in focus.
EUR/USD Shifts to Consolidation After Spike to 1.1434 – UOB
UOB strategist Quek Ser Leang notes EUR/USD briefly rose to 1.1434 before pulling back, with subdued momentum suggesting a consolidation range of 1.1360 to 1.1434.
USD Index Correction Seen as Limited Before Next Rally
The US dollar is easing from a new one-year high, but the pullback remains shallow and a fresh move higher is expected, supported by Friday’s long-tailed daily candle.
Japanese Yen: Data and BoJ Tankan to Guide Policy – Deutsche Bank
Deutsche Bank Research highlights a busy week for Japan, with strong May retail sales already released and industrial production data still to come. The BoJ Tankan survey will be key for policy direction.
Dollar Rally May Endure Beyond Weak PCE
The rapid dollar rally in June pushed EURUSD to its strongest level since last May and lifted the DXY back above the 100 mark. Despite weak PCE data, the rally may persist.
Silver falls 1.63% on Monday, trades at $58.18
Silver price declined by 1.63% on Monday, dropping from $59.14 to $58.18 per troy ounce according to FXStreet data.