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Gold Recovers from Monthly Low as Hawkish Fed, Strong USD Cap Gains
Gold (XAU/USD) edged higher in Asian trade on Friday, rebounding from near the monthly low, but further upside appears limited due to a hawkish Federal Reserve outlook and a firm US dollar.
USD/CHF Holds Near 0.8090 as Middle East Tensions Support Dollar
The Swiss Franc steadied against the Dollar on Friday, with USD/CHF trading around 0.8090. Escalating US-Iran tensions provided support for the greenback, countering shifting expectations for Federal Reserve policy.
Gold Price Forecast: XAU/USD Pulls Back, Sellers Eye Next Leg Down
Gold is licking its wounds near two-week lows in Friday's Asian session, as sellers remain hopeful of clinching the biggest weekly loss in six weeks.
EUR/JPY Holds Below Ascending Triangle Resistance Near 186.00
EUR/JPY extends losses for a second day, trading around 185.70 during Asian hours, remaining below the ascending triangle top near 186.00 despite holding above key EMAs.
USD/CNH Rises for Second Day as Safe-Haven Demand Boosts US Dollar
USD/CNH extended gains for a second consecutive session on Friday, trading near 6.7760, as safe-haven flows supported the US dollar amid escalating Middle East tensions.
Yen Weakens on US-Iran Strikes, Intervention Warning
USD/JPY trades near 162.40 as the US launches a sixth night of strikes against Iran, boosting the dollar against the yen. Japan raises intervention risk concerns.
AUD/USD Slides to 0.7980 as USD Strengthens on Geopolitical and Rate-Hike Bets
The Australian dollar fell for a second straight day, dropping to the 0.7980 area in Asian trading, as geopolitical tensions and rising expectations of a Federal Reserve rate hike boosted the US dollar.
GBP/USD Slips Below 1.3500 as US Strikes Iran, Risk Aversion Mounts
The British pound weakened below 1.3500 against the US dollar during Asian trading on Friday, pressured by heightened geopolitical tensions after the US launched a new wave of strikes against Iran.
Silver Price Falls to Near $55.50 on Rate Concerns
Silver (XAG/USD) slid for a third consecutive day, trading around $55.50 per troy ounce during Asian hours Thursday, on track for a weekly drop of over 7% as rising interest rate fears and Middle East tensions weighed on the metal.
PBOC sets USD/CNY reference rate at 6.7934 vs 6.7909 previous
The People's Bank of China set the USD/CNY central rate at 6.7934 for the upcoming trading session, compared to the previous fix of 6.7909 and the Reuters estimate of 6.7734.
Japan's Katayama says ready to act on currency moves
Finance Minister Satsuki Katayama stated that authorities are prepared to intervene in currency markets as needed.
New Zealand Dollar Rises Amid Sticky Inflation Fears, Middle East Tensions
NZD/USD inches higher to around 0.5840 in Asian trade, supported by persistent inflation concerns and escalating geopolitical tensions in the Middle East.
US Dollar Index Consolidates Above 100.50 Ahead of Trump Speech
The US Dollar Index holds steady above 100.50 as traders await President Trump's speech.
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.