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BNY notes post-Sintra pattern favoring Euro against US Dollar
BNY's Geoff Yu highlights a recurring seasonal pattern where hawkish ECB communication from Christine Lagarde after the Sintra forum typically drives EUR/USD gains from late June into early July.
USD/JPY Challenges 2024 Peak Near 162.00 as Yen Weakens, Says SocGen
Societe Generale strategist Kenneth Broux notes USD/JPY has broken out of consolidation and is testing its 2024 high near 162.00. Strong May retail sales data supports expectations for further Bank of Japan action.
GBP Rises to 1.3230 as Burnham Pledges Continuation of Labour Policy
The British Pound strengthened 0.25% to near 1.3230 against the US Dollar after UK politician Burnham committed to maintaining current Labour Party policy.
Eurozone inflation relief from oil, ECB cautious – Commerzbank
Commerzbank analyst notes oil prices near pre-war levels reduce tail risks for growth and inflation, but euro area inflation is not falling fast enough to dispel ECB concerns.
Fed Hawkishness Replaces Oil as Key Dollar Support: OCBC
OCBC analysts point to a more hawkish Federal Reserve and a flatter US yield curve as the primary drivers of US dollar strength, superseding higher oil prices.
Pound Outlook: Investors 'Too Kind' to UK Fiscal Risks
Sterling continues to trade well against other European currencies, with markets currently not pricing in any additional fiscal risk premium for the UK.
Stronger Dollar and Lower Oil Weigh on CEE FX, ING Says
ING strategist Frantisek Taborsky notes that a stronger Dollar and lower Oil have led markets to price out most rate hikes in Poland and the Czech Republic, adding pressure on regional currencies.
EUR/USD Opens Week Near 1.1381 as Dollar Holds Firm on Hawkish Fed
EUR/USD started the trading week around 1.1381, with the US dollar maintaining strength after the Federal Reserve's hawkish June meeting.
EUR/USD Struggles to Reclaim 1.1400 Amid Geopolitical Uncertainty
The euro edged higher against the dollar on Monday but failed to confirm a break above the 1.1400 level, with the 13-month low near 1.1320 remaining in focus.
EUR/USD Shifts to Consolidation After Spike to 1.1434 – UOB
UOB strategist Quek Ser Leang notes EUR/USD briefly rose to 1.1434 before pulling back, with subdued momentum suggesting a consolidation range of 1.1360 to 1.1434.
USD Index Correction Seen as Limited Before Next Rally
The US dollar is easing from a new one-year high, but the pullback remains shallow and a fresh move higher is expected, supported by Friday’s long-tailed daily candle.
Japanese Yen: Data and BoJ Tankan to Guide Policy – Deutsche Bank
Deutsche Bank Research highlights a busy week for Japan, with strong May retail sales already released and industrial production data still to come. The BoJ Tankan survey will be key for policy direction.
Dollar Rally May Endure Beyond Weak PCE
The rapid dollar rally in June pushed EURUSD to its strongest level since last May and lifted the DXY back above the 100 mark. Despite weak PCE data, the rally may persist.
Silver falls 1.63% on Monday, trades at $58.18
Silver price declined by 1.63% on Monday, dropping from $59.14 to $58.18 per troy ounce according to FXStreet data.
USD/CAD Consolidates Near 1.4195 Ahead of US NFP Data
The USD/CAD pair traded flat around 1.4195 during the European session on Monday, with oscillators cooling down and focus shifting to the upcoming US Nonfarm Payrolls report for June.
Gold Weakens on US-Iran De-escalation and Fed Tightening Bets
Gold fell to around $4,050 on Monday, down 0.96%, as investors reduced safe-haven exposure amid easing US-Iran tensions and expectations of further Federal Reserve tightening.
AUD/USD Consolidates in 0.6880-0.6920 Range – UOB
UOB strategist Quek Ser Leang notes AUD/USD remains locked in a short-term range between 0.6880 and 0.6920 following a recent steep decline. Downward momentum is easing, but a clear break above 0.6940 is needed to signal that the key support at 0.6835 is out of immediate danger.
USD Steady as Quiet Week Begins
The US dollar remains stable with little volatility to start the week, and no major US economic releases are expected to drive short-term moves.
MUFG: Asia FX Defensive as US Rates Stay High
MUFG analyst Lloyd Chan notes broad depreciation across Asian currencies since the June FOMC meeting, driven by widening swap differentials and persistently high US rates, leading the bank to maintain a defensive stance on selective Asian FX.
Sterling Resilient but Euro Cross Supported – ING
ING analyst Francesco Pesole notes the British Pound's resilience despite shifting UK fiscal expectations, while the euro cross remains supported.
US Dollar Recovers as US Resumes Iran Bombings After Tanker Attack
The US dollar quickly recouped its losses after the US resumed bombing Iran in response to its attack on tankers in the Strait of Hormuz. Prior to this, the greenback had been falling amid profit-taking on long positions due to reduced expectations of aggressive monetary tightening.
USD/JPY Consolidates Near 2024 High at 162.00 – UOB
United Overseas Bank's Quek Ser Leang notes USD/JPY is consolidating just below the 2024 high of 162.00, with intraday trading expected between 161.45 and the upper boundary.
US Dollar Index Extends Decline Amid US-Iran Tensions
The US Dollar Index (DXY) fell for a third straight day, trading near 101.20 during European hours, as news of halted US-Iran attacks weighed on the greenback.
Lower Oil Prices Bolster Indian Rupee Outlook – Commerzbank
Commerzbank analysts note that lower oil prices and renewed foreign capital inflows are improving the outlook for the Indian Rupee.