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DBS: Vietnam Central Bank to Hold Refi Rate at 4.50% Through 2026
DBS Group Research economist Chua Han Teng expects the State Bank of Vietnam to keep its refinancing rate at 4.50% until end-2026, citing easing inflation, a stable dong, and strong GDP.
Silver Price Forecast: XAG Bearish as Evening Star Forms
Silver tumbled nearly 3% on Tuesday as a bearish evening star pattern emerges, amid heightened Middle East tensions after attacks on vessels in the Strait of Hormuz.
USD/JPY Holds Below 161.90 on Yen Support, Fed Caution
USD/JPY trades slightly negative below 161.90 as the Japanese Yen finds modest support. The US Dollar remains underpinned by cautious remarks from New York Fed President John Williams and lingering inflation concerns.
PBoC Expands RMB Business Facility and Southbound Bond Connect Quotas, Boosts Hong Kong Yuan Hub
The People's Bank of China has increased quotas for the Renminbi Business Facility and Southbound Bond Connect, reinforcing Hong Kong's role as the main offshore yuan hub, according to BNY's Geoff Yu.
Gold Stalls Below $4,200 on Inflation Fears, Middle East Tensions
Gold (XAU/USD) slipped 0.44% on Tuesday as it failed to breach the $4,200 level amid rising US inflation expectations and renewed Middle East hostilities.
USD/SGD Stabilizes in 1.29-1.30 Range, Commerzbank Notes
Commerzbank analyst Charlie Lay highlights that USD/SGD has been range-bound around 1.2920 for a month, with the SGD NEER estimated at roughly +0.8% above its midpoint.
USD/CAD Forecast: Buyers Retain Upper Hand Amid Crude Oil Support
USD/CAD edges lower despite a firm US dollar, as the Canadian dollar gains from a rebound in crude oil prices after attacks on vessels near the Strait of Hormuz.
Swiss Franc Rebound Lacks Catalyst as Data Calendar Stays Empty
With no Swiss economic releases this week, USD/CHF is drifting on Dollar momentum, leaving the Franc's recent rebound without a domestic narrative.
British Pound Slips as Hormuz Attacks Revive USD Demand
The British Pound weakened against the US Dollar on Tuesday following reports of attacks on two ships in the Strait of Hormuz, which boosted safe-haven demand for the greenback.
Canada Trade Surplus Widens to $4.2B in May - RBC
Canada's merchandise trade surplus increased to $4.2 billion in May from $3.4 billion in April, driven by export growth and rising investment, according to RBC economists.
Euro Upside Bias Against US Dollar as ECB Repriced – Scotiabank
Scotiabank analysts note the euro is slightly softer against the US dollar but remains supported by a sharp recovery in yield spreads and stronger German industrial data, maintaining an upside bias.
AUD/USD Declines Toward 0.6940 on Cautious Fed Remarks
The Australian Dollar weakens against the US Dollar as cautious comments from the Federal Reserve support the greenback.
USD/CHF Holds Gains as Hawkish Fed Outlook Supports Dollar
The Swiss Franc eased against the US Dollar on Tuesday, with USD/CHF trading around 0.8066, as hawkish Federal Reserve expectations outweighed softer US labor data.
Poland's NBP Set to Keep Rates at 3.75% Through Year-End – ING
ING economists Rafal Benecki and Adam Antoniak expect the National Bank of Poland to keep its key interest rate unchanged at 3.75% at the July 9 meeting and for the remainder of 2024, ruling out both hikes and near-term cuts.
Japanese Yen Near Historic Lows Against USD – Scotiabank
Scotiabank analysts note the Japanese Yen is the best-performing G10 currency on the day, though it remains near historic lows versus the US Dollar.
ECB's Panetta Warns Euro Area Outlook Fragile
BNY's Geoff Yu cites ECB's Fabio Panetta describing a fragile euro area outlook with upside inflation risks and downside growth risks.
Canadian Dollar Steady Despite Strong Trade Data and Higher Oil Prices
USD/CAD trades around 1.4205, virtually unchanged on the day, as encouraging Canadian economic data offsets a USD supported by monetary policy expectations and geopolitical tensions.
Japanese Yen Stays Weak Near 161 as Long-End Yield Differentials Shift
National Bank of Canada analysts note the Japanese Yen remains weak against the US Dollar, trading near multi-decade lows around 161 per USD, despite long-end yield differentials moving in Japan’s favor.
EUR/GBP Bears Cautious Below 0.8600 After Rebound from One-Year Low
EUR/GBP trades with a positive bias on Tuesday as sellers take a breather after the recent selloff that pushed the cross to a more than one-year low near 0.8533.
GBP Struggles Near 1.3400 Resistance Against USD – Scotiabank
The British Pound is slightly softer versus the US Dollar after hitting resistance around the 1.3400 level, with Scotiabank strategists citing limited fresh data and BoE factors as capping further gains.
AUD/USD Recovery Stalls at Key Fibonacci Resistance
The AUD/USD pair shows signs of losing upward momentum after repeatedly failing to break above the 23.6% Fibonacci retracement level at 0.6961, with a Doji candlestick pattern emerging on Tuesday.
Fed's Williams Says Monetary Policy 'In a Good Place'
New York Fed President John Williams stated that monetary policy is well-positioned and the US economy is showing steady, trend-like growth with a stable labor market.
ING: Dovish NBP Tone Puts Polish Zloty at Risk of Downside
ING economists warn that a dovish tone from the National Bank of Poland (NBP) increases downside risks for the Polish zloty, as reduced prospects of further ECB and Fed tightening ease external pressure on the currency.
Euro Steady as Traders Await Fed, ECB Rate Clarity
EUR/USD trades in a narrow range around 1.1436 as markets await greater clarity on Federal Reserve and European Central Bank interest rate paths.