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MUFG: BNM FX Support Tempers Ringgit Downside, Caps Upside
Analysts at MUFG note that the Malaysian Ringgit rose 0.4% vs the USD after Bank Negara Malaysia reintroduced a 2024-style FX support measure aimed at encouraging repatriation and conversion of offshore funds. The policy is seen as limiting further downside but also capping upside potential.
Euro Holds Ground Against Dollar Amid Middle East Tensions and Fed Outlook
EUR/USD is trading slightly higher on Friday but is still on track for a second consecutive weekly loss as geopolitical risks in the Middle East and a hawkish Federal Reserve support the US dollar.
British Pound Rebounds as US Dollar Rally Fades, UK Politics Stabilize
The GBP strengthened 0.20% against the USD as the greenback pulled back from year-to-date highs, with markets pricing in a less hawkish Fed and UK political conditions improving.
AUD/USD Recovers Near 0.6900 on US Dollar Profit-Taking
The Australian Dollar is recovering ground against the US Dollar on Friday, with AUD/USD trading near the 0.6900 level as profit-taking hits the Greenback after a two-week rally.
Standard Chartered: China Fiscal Spending to Rebound
Standard Chartered economists predict China's fiscal spending will rebound after underperforming in early 2026, which had weighed on growth despite a stronger-than-expected first quarter.
Australia Unemployment Dips to 4.4% but UOB Warns of Emerging Slack
Australia's unemployment rate fell to 4.4% in May, with employment surging by 40,300, driven mainly by part-time jobs. UOB's Lee Sue Ann cautions that rising participation masks growing slack in the labor market.
Food and Services Signal Steady Inflation in June Tokyo CPI
Societe Generale economists note that June Tokyo CPI data showed little change from May, with food and services indicating steady inflation, despite a modest upside surprise in headline and core figures.
British Pound Steadies Against Yen Amid UK Politics and Intervention Risks
GBP/JPY traded in a narrow range on Friday as traders weighed UK political developments against the risk of Japanese intervention, with USD/JPY holding above 160.00.
South Korea Retail Support & FX Divergence in 2026 – BNY
BNY's Geoff Yu notes South Korean equities posted exceptional returns in 2026, with retail investors providing support while institutions remain net sellers, highlighting FX divergence.
Yen Strengthens on BoJ Hike Expectations, Intervention Risks Weigh on USD/JPY
The Japanese yen strengthened on Friday as expectations of a Bank of Japan rate hike and heightened intervention risks pushed USD/JPY lower. The pair traded around 161.60 after failing to sustain above 162.00.
Gold Sell-off Intensifies, $4,000 Handle at Risk
Gold (XAU/USD) initially edged higher before reversing sharply to its lowest level since November, falling below $4,000. The metal found some support but failed to stage a meaningful rebound, closing the week deep in negative territory.
ECB Likely to Raise Rates Once More Before Cutting, Says Commerzbank
Commerzbank strategists expect the European Central Bank to deliver at least one more rate increase amid still-elevated inflation, despite lower oil and gas prices.
Gold Weekly Forecast: Sell-off Intensifies, $4,000 at Risk
Gold (XAU/USD) edged higher early in the week before turning sharply lower, falling below $4,000 to its lowest level since November. Although it found a foothold, the metal ended the week deep in negative territory, with the sell-off intensifying and putting the $4,000 handle at risk.
Commerzbank: Falling Oil Prices to Reduce Inflation, Make Fed Rate Hikes Unlikely
Commerzbank strategist Bernd Weidensteiner says that declining oil and gasoline prices should bring down U.S. inflation and reduce the likelihood of further Federal Reserve rate increases.
NZD/USD Steadies After US Inflation Data, RBNZ Expectations Cap Gains
The New Zealand Dollar trades around 0.5650 after US inflation data, with expectations of a dovish RBNZ limiting further upside despite a weaker US dollar.
USD/CHF Slides as US Dollar Weakens After PCE Data
The Swiss Franc strengthened against the US Dollar on Friday, with USD/CHF erasing weekly gains after US PCE inflation data met expectations, dampening the dollar's recent rally.
CNB Hawkish Stance Supports Koruna Against Dollar Pressure, Says ING
ING FX strategist Frantisek Taborsky notes the Czech National Bank's June minutes confirm it as the most hawkish central bank in the region after a 25bp hike to 3.75%, supporting the koruna against USD pressure.
US Dollar Momentum Softens as US Data Cools – MUFG
MUFG analyst Lee Hardman notes the US Dollar is set for a second straight week of gains but has lost upward momentum as softer GDP and PCE data, along with dovish comments from New York Fed President Williams, reverse recent hawkish sentiment.
Silver RSI Stays Oversold as XAG/USD Struggles Below $60
Silver steadies on Friday as the US Dollar and Treasury yields retreat after the latest PCE data showed underlying inflation remained relatively subdued, but the RSI remains in oversold territory with XAG/USD below $60.
RBA: Gradual cooling supports steady policy – UOB
UOB's Lee Sue Ann notes that Australia's May labour data shows a rebound in headline employment but softer underlying conditions, with rising underemployment and falling hours, supporting the RBA's steady policy stance.
USD Choppy After Mixed PCE Data – TD Securities
TD Securities notes that US rates markets steepened after weaker headline PCE, while stronger personal income and spending data kept the dollar direction unclear.
Gold Steadies Above $4,000 as US PCE Data Eases Fed Rate-Hike Bets
Gold (XAU/USD) holds above $4,000 as softer US dollar and lower yields follow PCE data that met forecasts, reducing near-term Fed rate-hike expectations.
GBP/USD Rises Above 1.3200 as Dollar Rally Falters
The British Pound gained for a second straight day on Friday, trading above 1.3200, with the year-to-date low near 1.3140. The move came as the US Dollar rally lost steam and oil prices retreated to pre-war levels.
US Jobs Data and ECB Inflation Test in Focus
The US June jobs report due Thursday is expected to be positive, with falling gasoline prices also easing inflation. In Europe, eurozone inflation data will test the ECB's rate hike path.