Market news
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PCE Core Rise Fuels Rate Hike Bets; Brent Crude Slumps to $72
Rising core PCE inflation is expected to reinforce rate hike expectations. Meanwhile, Brent crude fell sharply yesterday, trading near $72/bbl this morning, close to pre-war levels, pressured by a stronger dollar and growth concerns.
NZD/USD Falls to Near 0.5650 as Bearish Bias Persists
NZD/USD extended its losing streak to seven days, trading around 0.5650 in Asian hours, as the pair remains under pressure within a descending channel.
BoJ's Tamura: Bank Should Raise Rates Near Neutral as Inflation Risks Overshooting
Bank of Japan board member Naoki Tamura stated that Japan has already met the 2% inflation target and the central bank must raise rates to near neutral to prevent inflation from exceeding expectations.
Indian Rupee Strengthens as Oil Prices Drop to Pre-War Levels
The Indian Rupee opened higher against the US Dollar on Thursday, with USD/INR falling to near 94.30, supported by declining oil prices that have returned to levels seen before the conflict.
USD/CAD Consolidates Below 1.4250 Ahead of US PCE Data
USD/CAD trades in a bullish consolidation near 1.4225, just below April 2025 highs, as traders await US Personal Consumption Expenditures data for direction.
Swiss Franc Rebounds as USD/CHF Falls from 11-Month High
USD/CHF edges lower to around 0.8110, retreating from an 11-month high as markets await US PCE data and monitor Lebanon-Israel tensions.
Indonesian Rupiah Strengthens on Foreign Inflows, USD/IDR Drops to 17,970
The Indonesian rupiah gained ground against the US dollar during Asian trading on Thursday, supported by foreign capital inflows. USD/IDR fell to around 17,970, reversing gains from the previous three days.
USD/JPY Edges Lower Amid Intervention Fears, USD Pullback
The USD/JPY pair edged lower in Asian trading on Thursday, but lacks follow-through and finds support ahead of 161.50 as yen bears turn cautious on intervention fears.
EUR/USD Rebounds to 1.1370, but Bearish Bias Remains
EUR/USD edges higher to 1.1370 in early European trading, but the outlook stays bearish as markets react to hawkish signals from new Fed Chair Kevin Warsh, raising expectations of a US rate hike.
EUR/USD Could Test 1.1300 as Dollar Index Holds Above 101.50
The US Dollar Index sustaining above 101.50 may push major currencies lower. EUR/USD has already dipped below 1.14 and could target 1.1300.
EUR/JPY Recovers Toward 184.00 After Triangle Rebound
EUR/JPY pared its daily losses and traded near 183.80 during Asian hours, recovering after bouncing from a symmetrical triangle pattern.
Dollar Index Elliott Wave Forecast: Bullish Sequence Targets Extended Gains
The Dollar Index (DXY) shows an incomplete bullish Elliott Wave sequence from the January 27, 2026 low, suggesting further upside toward the 100%–161.8% Fibonacci extension range.
US Dollar Index Holds Around 101.50 Ahead of PCE Data
The US Dollar Index is trading near 101.50 as markets await the May Personal Consumption Expenditure (PCE) inflation report due at 12:30 GMT.
Gold Price Forecast: Impending Death Cross hints at more XAU/USD downside
Gold is nursing losses near $3,950 after a failed recovery above $4,000, with an impending death cross signaling further downside.
Silver Price Falls to Near $56.50 on Rising Fed Rate Hike Odds
Silver (XAG/USD) fell for the third consecutive day, trading around $56.90 per troy ounce during Asian hours Thursday, as market expectations of tighter Federal Reserve monetary policy weighed on the precious metal.
GBP/USD Holds Above 1.3150 as US PCE Data Looms
The British pound recovered to near 1.3175 during Asian trading on Thursday, but gains may be capped by UK political uncertainty and expectations of further US rate hikes.
AUD/USD Slides for Eighth Consecutive Day on Labor Data
The Australian dollar extended its decline against the US dollar for an eighth straight session, trading near 0.6900 after domestic labor market data weighed on the currency.
AUD/JPY Drops After Australian Jobs Data, JPY Supported by Intervention Fears
The AUD/JPY pair fell after Australia's employment data, nearing its lowest since April, while the Japanese yen drew support from intervention concerns.
USD/CAD Falls as Canadian Dollar Strengthens on USD Weakness
USD/CAD snapped its winning streak, trading near 1.4230 in Asian hours as the Canadian dollar gained ground despite a hawkish Federal Reserve outlook.
Australia's Unemployment Rate Falls to 4.4% in May, Matching Expectations
Australia's unemployment rate declined to 4.4% in May from 4.5% in April, according to ABS data released Thursday, meeting market forecasts.
BoJ's Tamura: Japan's Neutral Rate Around 2%
Bank of Japan board member Naoki Tamura said Japan's neutral rate is approximately 2% and stressed the need to gradually move the policy rate toward that level to avoid abrupt rate hikes.
Japanese Yen Holds Steady Amid Intervention Speculation
USD/JPY trades near 161.75 as traders remain on high alert for possible Japanese intervention.
Japanese Yen Steady as Intervention Speculation Intensifies
USD/JPY holds near a multi-decade high around 161.75 as traders remain on alert for possible Japanese currency intervention.
Euro Falls to Near 1.1350 as Fed Hike Bets Rise Ahead of PCE Data
The EUR/USD pair dropped to around 1.1355 in Asian trade as traders increase bets on US rate hikes ahead of PCE inflation data.