Market news
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Silver Drops as Strong US PMI Bolsters Hawkish Fed Outlook
Silver prices fell on Monday after a robust US manufacturing report reinforced expectations that the Federal Reserve will keep monetary policy restrictive. XAG/USD traded around $57.20, down 0.73% on the day.
Euro Pares Gains as Markets Eye US-Iran Talks and Fed Policy
The single currency trimmed its advance on Monday, with EUR/USD stuck in a tight range as traders sought clarity on U.S.-Iran negotiations and the Fed’s next steps. A steadier dollar, after recent intervention-driven weakness, capped further euro gains.
Lira Under Pressure as Turkey Trade Gap Widens – Commerzbank
Turkey’s June trade deficit jumped 26.2% y/y to $10.4bn, highlighting external pressure on the Turkish lira, according to Commerzbank analyst Tatha Ghose.
BNY’s Geoff Yu: Duration Preferred Over Carry in Latin America After Fed
Geoff Yu of BNY Mellon sees Brazil and Mexico in a more comfortable policy environment following the Fed’s decision, with anchored US front-end yields supporting a preference for duration over carry in emerging markets.
US ISM Manufacturing PMI Rises to 55.6 in July, Beating Forecasts
The ISM Manufacturing PMI climbed to 55.6 in July, exceeding the expected 54.0 and signaling accelerating factory activity.
Canadian Dollar Weakens as Oil Slump Drives USD/CAD Above 1.40
USD/CAD edges higher to 1.4040 as falling oil prices drag the Canadian dollar lower. Traders await upcoming economic data releases.
Yen Strengthens Sharply as US and Japan Confirm Joint Intervention
The Japanese yen rallied against the dollar after authorities confirmed coordinated intervention to curb the currency's weakness, with officials signaling readiness to act further.
MultiBank’s MEX Exchange hires Vibhanshu Bahuguna as Senior Director
MultiBank Group’s institutional ECN, MEX Exchange, has appointed Singapore-based trading technology veteran Vibhanshu Bahuguna as Senior Director.
Japanese Yen Holds Firm After Suspected Intervention
USD/JPY steadied on Monday following a sharp drop at the open, fueling speculation of fresh coordinated intervention by Japan and the U.S.
Japan FX Intervention Labeled a 'Con Game' as BoJ Holds Off Rate Hike
Major commentators criticize Japan's currency intervention as a 'con game', noting that BoJ Governor Ueda expressed inflation fears but gave no hint of a rate hike.
How to Lose “Markets” in Ten Months
IC Markets is the latest retail broker to drop 'Markets' from its name, joining Blueberry, KCM Trade and Admirals. Branding experts say the shift reflects maturity and diversification, not just a nod to younger traders.
ING's Chris Turner Flags Rare Joint US-Japan FX Intervention
ING analyst Chris Turner highlights a rare joint US-Japan foreign exchange intervention, with Washington participating via the Fed and Japan tapping the FIMA repo facility to raise dollars.
Nordea Expects Norges Bank to Keep Rate at 4.25% Next Week
Economists at Nordea see Norges Bank holding its policy rate steady at 4.25% at next week’s meeting, citing softer-than-expected core inflation in June and likely subdued July data.
Euro Hovers Below Ascending Channel Floor Against Pound
EUR/GBP edged up on Monday but remained below the key 0.8575 level, the lower boundary of its recent upward channel, after declines late last week.
Deutsche Bank sees two more Fed hikes, hawkish risks for dollar
Deutsche Bank strategists noted that three Fed officials dissented in favor of a rate hike, and they now expect two more 25bp increases this year, keeping the dollar supported.
US-Japan Joint Intervention Bolsters Yen Outlook, MUFG Says
The yen gained after the US and Japan intervened jointly to calm volatility, with MUFG’s Lee Hardman highlighting supportive measures including the Fed’s FIMA repo facility and US euro-to-yen reallocations.
AUD/USD Slides to 0.7000 as US Dollar Rebound Offsets China Data Support
The Australian dollar weakened against the greenback on Monday, with AUD/USD dropping about 0.30% to hover around the 0.7000 level. A resurgent US dollar outweighed the brief lift from Chinese economic figures.
Gold Prices Struggle as Mixed US-Iran News and Fed Hawkishness Weigh
Gold started the week higher but struggled to maintain gains as conflicting US-Iran headlines and hawkish Federal Reserve remarks capped upside. Traders now await US payrolls data for policy clues.
"They Want to See Your Face": ATFX Cambodia's Lessells on Trust and Scale
ATFX Cambodia CEO Alexander Lessells discusses the broker's first year, SERC licensing hurdles, retail-heavy client base and a possible launch of ATFX Connect.
Fed’s Pause Offsets Some ECB Tightening, But Euro Inflation Distinct: BNY
BNY’s Geoff Yu says the Fed’s pause has softened global conditions, partly countering ECB tightening, but eurozone inflation paths remain distinct. Comments follow services PMI release.
British Pound Pulls Back to Mid-1.3400s as UK Manufacturing PMI Revised Lower
The British pound eased back to the mid-1.3400s against the US dollar on Monday after hitting seven-week highs above 1.3500 earlier. The decline followed a downward revision to the UK manufacturing PMI.
EUR/USD Opens Near 1.1540 as Markets Shift Focus to US Data
EUR/USD starts the week around 1.1540 after a volatile period, with investor attention now turning to incoming US economic reports for clues on a September rate hike.
Silver Price Rises on Monday, Trading at $58.38 per Ounce
Silver (XAG/USD) advanced on Monday, gaining 1.37% to $58.38 per troy ounce, according to FXStreet data.
cBridge connects brokers to LMAX Group perpetual futures liquidity
Spotware's cBridge has partnered with LMAX Group to let brokers distribute institutional perpetual futures liquidity via MT4, MT5 or proprietary platforms using FIX API.