Market news
Crypto, stocks, forex and macro, aggregated for traders.
Amana Hires CTO Andrey Artamonov to Boost MENA Trading
Amana appointed Andrey Artamonov as its Chief Technology and Information Officer to strengthen the MENA neobroker's technology foundation.
J. Safra Sarasin Group to acquire remaining stake in Saxo Bank; Kim Fournais remains Chairman
Bank J. Safra Sarasin announced an agreement to acquire the remaining stake held indirectly by Kim Fournais in Saxo Holding AG, approximately 28.69%, following its earlier majority acquisition.
India Allows Banks to Lend Against Silver as Imports Plunge 87% in May
India's silver imports crashed 87% in May, yet the move reflects a strategic shift as the country now permits banks to use silver as loan collateral for the first time in the world's largest silver market.
US Economy Shows Resilience Despite Iran War Disruption
Nearly four months after the start of the Iran war, the US economy remains resilient despite initial energy market disruption. Recent diplomatic progress between Washington and Tehran has eased supply shock concerns.
US Dollar's Resilience Tested by Fed Minutes and Jobless Claims
The upcoming week will test major currency pairs as investors digest weaker US labor market data and await Federal Reserve minutes and jobless claims.
UOB: USD/CNH to Stay Range-Bound, Neutral Bias
UOB's Quek Ser Leang notes a slight pickup in downward momentum for USD/CNH but expects the pair to remain range-bound, with a lower intraday band around 6.7820–6.7940 and a neutral 1–3 week view between 6.7750 and 6.7950.
NZD/USD Rebounds Above 0.5700, Faces Resistance at 0.5750
The Kiwi dollar recovered above 0.5700 on Friday, gaining over 0.22% after hitting a daily low of 0.5689, but bears remain active around the 0.5750 level.
USD/SGD Consolidating in Range as Singapore Economy Strengthens – Commerzbank
Commerzbank notes that strong Singapore manufacturing and electronics PMIs support a constructive growth outlook, with Q2 GDP expected to exceed Q1's 6% expansion, keeping USD/SGD range-bound.
Societe Generale: Yuan Bulls Extend Gains on Strong China PMI
Societe Generale notes that stronger-than-expected China PMI data supports slow but steady growth, reducing the need for PBoC easing and boosting the yuan. USD/CNY has fallen back below its 50-day moving average.
Japanese Yen Holds Steady Amid US Independence Day Holiday
USD/JPY posts modest gains on Friday amid thin trading due to the US Independence Day holiday, as the US dollar stabilizes after a sharp decline on Thursday following softer-than-expected US labor market data.
Silver Reclaims $60, RSI Targets $65 on Dollar Weakness
Silver price extends weekly gains over 5.5%, reclaiming $60 for the second straight day and reaching an eight-day high of $62.42 amid broad US Dollar weakness.
Gold price rises on weak US jobs report
Gold (XAU/USD) climbed over 1% on Friday after a softer-than-expected US non-farm payrolls report tempered expectations of further Fed tightening, despite elevated inflation. The metal was trading near $4,174 at the time of writing.
ABN AMRO Sees Reduced Upside for EUR/USD on Policy Divergence
ABN AMRO economist Bill Diviney expects the US dollar to weaken broadly but notes slightly less upside for EUR/USD after revising the ECB outlook and incorporating French and US elections.
Swiss Franc Set for First Weekly Gain in Five Weeks as Weak US NFP Data Delays Fed Hikes
The Swiss Franc is on track for its first weekly advance in five weeks against the US Dollar, after weaker-than-expected US Nonfarm Payrolls data released Thursday weighed on the greenback and pushed back expectations for Federal Reserve rate hikes.
USD/SGD Near-Term Support Test at 1.2890 – UOB
UOB's Quek Ser Leang says USD/SGD's sharp drop toward 1.2900 appears overdone but the pair could still test support near 1.2890 in the near term, maintaining a range bias.
EUR/USD Holds Gains but Struggles to Extend as Dollar Stabilizes
EUR/USD holds onto modest gains on Friday but struggles to extend its advance as the US Dollar stabilizes following Thursday's weaker-than-expected US jobs report. Market activity remains subdued due to the US Independence Day holiday.
British Pound Holds Weekly Gains as Fed Hike Doubts Intensify
The British Pound steadied against the US Dollar on Friday and is on track to end the week with gains of over 1%, as traders grow skeptical of a September rate hike by the Federal Reserve. GBP/USD consolidates near the 1.3350 level.
AUD/USD Rises to 0.6940 on Upbeat Australian PMIs, Soft US Labor Data
The Australian Dollar climbed against the US Dollar on Friday, nearing 0.6940, supported by better-than-expected Australian PMI data and a weaker USD following softer US labor market reports.
New Zealand Dollar Gains on Weak US Employment Data
NZD/USD rose to 0.5710 on Friday, gaining 0.21% as weaker-than-expected US labor data pressured the US dollar and lifted risk appetite.
Gold Weekly Forecast: Buyers Return as Fed Rate Hike Expectations Ease
Gold (XAU/USD) posted its first weekly gain in five as traders dial back expectations for near-term Fed rate hikes. The economic calendar is light next week.
EUR/USD Trims Losses as US Dollar Rally Stalls Near 1.1450
The EUR/USD pair recovered some ground to trade around 1.1450 as easing Middle East tensions reduced safe-haven demand for the US dollar. However, the sustainability of the dollar's pullback remains uncertain.
ABN Amro Warns of Intervention Risk as USD/JPY Nears Multi-Decade High
ABN Amro's Georgette Boele warns that USD/JPY trading near multi-decade highs raises intervention risk for the Japanese yen, noting extreme short yen positioning leaves room for a sharp reversal.
USD/JPY Rebounds as Yen Weakens Despite Intervention Fears
The US dollar strengthened against the Japanese yen on Friday, recovering from a sharp decline the previous day amid speculation that Tokyo may have intervened to support the yen after it hit a 40-year low.
USD/JPY Near 40-Year High Raises Intervention Risk
The dollar-yen pair has climbed back toward multi-decade highs, stoking fears that Japanese authorities may step in to slow yen weakness.