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Canada June Employment Data to Drive Loonie as USD Stays Bearish
Canada's June employment report is expected to influence the Canadian dollar, while the US dollar remains under pressure. The Japanese yen also strengthened on reports that Japan may encourage pension funds to increase local investments.
ING: Canada Jobs Report May Reinforce BoC Caution, Weigh on CAD
ING analyst Francesco Pesole notes that Canada's June jobs report is expected to show a sharp slowdown in hiring while wage growth picks up, keeping the Bank of Canada from a hawkish shift.
Japanese Yen Leads G10 Gains on Policy Shift Hints
The Japanese Yen is outperforming G10 currencies after Finance Minister Katayama urged households and the GPIF to increase investments in domestic assets, according to MUFG analyst Derek Halpenny.
Japan's Kihara: Monetary Policy Specifics Left to BoJ
Japan's Chief Cabinet Secretary Minoru Kihara stated that the specifics of monetary policy decisions are left to the Bank of Japan, reiterating the government's stance.
Euro Remains at One-Year Lows vs Pound as Eurozone Inflation Cools
The euro is pinned near one-year lows against the British pound after German and French data confirmed moderating inflation in June, adding downward pressure on the common currency.
Risk-On Mood Returns as Middle East Tensions Cool, Chip Stocks Rally
Markets shift to risk-on mode as Middle East tensions ease and semiconductor stocks rebound. Attention now turns to Canadian jobs data.
Commerzbank: AI-Driven Imports Widening US Trade Deficit
Commerzbank analyst Volkmar Baur notes that AI-related capital-goods imports are structurally widening the US trade deficit. While strong foreign demand currently helps finance the gap, a decline in confidence in the US AI investment story could pose risks.
NZD/USD Rises Above 0.5750 on Hawkish RBNZ Rate Hike
The NZD/USD pair climbed above 0.5750, reaching its strongest level in three weeks during early European trading Friday, supported by a hawkish rate hike from the Reserve Bank of New Zealand.
Silver Gains 0.4% to $60.22 on USD Weakness, Oil Correction
Silver price (XAG/USD) traded 0.4% higher near $60.22 during European session Friday, supported by a weaker US Dollar amid hopes that the US-Iran conflict restart will not be prolonged, while a correction in oil prices also lent support.
DBS Sees India June CPI Inflation Rising to 4.1% on Food, Fuel
DBS economist Radhika Rao forecasts India's June CPI inflation will edge up to 4.1% year-on-year from 3.9%, supported by food normalization and fuel costs, with monsoon conditions providing some offset.
Dollar Index Struggles Above 102, Could Slide Toward 100
The Dollar Index remains capped below 102 with potential to ease toward 100. EURUSD stays rangebound between 1.1370 and 1.1470, while EURINR holds support near 109/108.70 and may rise.
Swiss Franc gives back early gains vs USD, US CPI in focus
The Swiss Franc pared some early gains against the US Dollar, with USD/CHF trading 0.26% lower at 0.8048. Traders now await US CPI data for further direction.
Japan's Katayama Urges Pension Funds to Hold More Domestic Assets, Yen Rises 0.6%
Finance Minister Katayama plans to encourage Japanese pension funds, including GPIF, to increase domestic asset holdings, aiming to strengthen the yen without direct intervention. The yen rose 0.6% against the dollar and JGB yields tumbled 10-11 bps.
AUD/USD Retreats from Two-and-a-Half-Week High, Holds Near 0.6950
The Australian dollar pulled back from a two-and-a-half-week peak hit during Asian trading on Friday, settling near the mid-0.6900s as the pair gave back some of its earlier gains.
US-Iran Tensions Fuel Dollar Rally, Oil Spike
Renewed military exchanges between the US and Iran over the weekend pushed energy prices higher and revived fears of higher inflation, triggering a USD rally and pressure on tech stocks.
G10 FX Carry Trade Returns as Market Conditions Align
Broad rate dispersion, quiet volatility, and positive forward points are making carry trades attractive again in G10 FX markets, according to a market commentator.
Indian Rupee Gains as US Dollar Extends Decline
The Indian Rupee continues its recovery against the US Dollar on Friday, with the USD/INR pair falling to near 95.22. The dollar weakens amid renewed Middle East tensions between the US and Iran.
EUR/USD Holds Near Weekly High Around 1.1450 as Bulls Eye 23.6% Fibo
EUR/USD extended its gains for a third day, reaching a fresh weekly high near 1.1460 in Asian trading. The pair is now hovering around 1.1450, testing the 23.6% Fibonacci retracement level.
Gold Flat Above $4,100 as Weaker USD, Fed Hike Bets, Iran Risks Clash
Gold is trading sideways above $4,100 after a modest Asian session dip, supported by a weakening US dollar but capped by conflicting factors including Fed rate hike expectations and geopolitical risks from Iran.
USD/CAD Declines as Fed Rate Hike Expectations Diminish
The Canadian Dollar gains ground against the US Dollar as fading hopes for a Federal Reserve rate hike weigh on the greenback. USD/CAD trades near 1.4145 in early European trading on Friday.
US Dollar Index Falls to Three-Week Low on US-Iran De-escalation Hopes
The US Dollar Index dropped to its lowest in three weeks as signs of de-escalation in the US-Iran conflict weighed on the safe-haven currency.
Gold Defends $4,100 as Bulls Eye 21-Day SMA
Gold is holding above $4,100 early Friday, attempting to extend its rebound from four-day lows near $4,022, with the 21-day SMA remaining a key resistance level for bulls.
AUD/USD Rises to Near 0.6950 on RBA Hawkish Stance
The Australian Dollar edged higher to around 0.6950 against the US Dollar during Asian trading on Friday, supported by hawkish comments from the Reserve Bank of Australia.
NZD/USD Hits Three-Week High After Hawkish RBNZ Rally
The New Zealand Dollar extended its hawkish RBNZ-inspired rally, pushing NZD/USD to a three-week high during Asian trading.