Market news
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TD Securities: Australian Jobs Rebound Expected, RBA on Alert After CPI Miss
Australia's May headline CPI slowed to 4.0% year-on-year, missing consensus and TD Securities' forecast, driven by softer transport and fuel costs. The firm expects a jobs rebound, keeping the RBA alert.
Silver Hits Fresh YTD Lows as Hawkish Fed Boosts US Dollar to Over One-Year Highs
Silver (XAG/USD) dropped to new year-to-date lows near $59.32 as expectations of a hawkish Federal Reserve pushed the US Dollar to its highest level in over a year.
Indonesian Rupiah Supported by BI Tightening, But US Yields Weigh: MUFG
Bank Indonesia's proactive tightening and FX measures support the rupiah, but elevated US yields and domestic policy uncertainty pose challenges, says MUFG's Lloyd Chan.
GBP/USD Resumes Downside After Testing Triangle Breakdown Zone
GBP/USD fell 0.38% to near 1.3150 during European trading on Wednesday, extending losses after testing a triangle breakdown zone, pressured by a stronger US dollar on hawkish Fed expectations.
Dollar Extends Rally Despite Lack of Rate Support; Yen Intervention Risk Looms
The US Dollar continues its rally, gaining over 2% since the Fed's hawkish hold, but traders remain wary of potential Japanese intervention.
USD Strengthens After Hawkish Fed Guidance, PCE Risks Ahead – DBS
The US Dollar has reached its highest level since May 2025, driven by hawkish Federal Open Market Committee guidance and upcoming PCE data risks, according to DBS Group Research.
EUR/GBP Hits Multi-Month Low but Holds Above 0.8600 Support
EUR/GBP touched its lowest level since August 15, 2025 on Wednesday, briefly probing the 0.8610 zone, but strong support at the 0.8600 area remains intact.
SNB's Tschudin: Ready to Intervene in FX Market
Swiss National Bank policymaker Petra Tschudin stated the central bank is ready to intervene in the foreign exchange market if necessary, while noting that medium-term inflation pressures remain unchanged.
Strait of Hormuz Talks Begin Amid Gulf Opposition to Transit Fees
Qatar's Prime Minister has initiated dialogue in Muscat with Oman, Iran, Gulf states, and Iraq over the reopening and future operation of the Strait of Hormuz, as Gulf states oppose proposed transit fees.
NZD/USD Hits Fresh YTD Lows Below 0.5650 as USD Soars
The New Zealand Dollar (NZD) extends its slide, falling to new year-to-date lows under 0.5650 against the US Dollar, driven by Federal Reserve tightening expectations and safe-haven demand for the USD.
Societe Generale Flags Downside Risks for AUD/USD
Societe Generale analysts warn that AUD/USD remains under pressure, with downside risks as the pair converges on the 0.69 area and the March–April trough near 0.6833.
Euro Faces Downside Risk as Yield Gap Widens vs Dollar – MUFG
MUFG's Lee Hardman notes EUR/USD has broken below its long-held 1.1400–1.1800 range due to diverging ECB and Fed policy expectations, with softer Euro-zone data and easing energy prices reducing pressure on the ECB to hike further.
Silver (XAG/USD) Holds Above $61.00 Amid Strong US Dollar
Silver is trading a few cents above $61.00 on Wednesday, nursing marginal losses as the US Dollar remains strong.
Silver Falls 0.72% as XAG/USD Drops to $61.15
Silver prices declined on Wednesday, with XAG/USD trading at $61.15 per troy ounce, down 0.72% from the previous level of $61.60.
US Dollar Strength Driven by AI Equity Weakness, OCBC Analysts Say
OCBC analysts Sim Moh Siong and Christopher Wong note that AI-related equity weakness has boosted safe-haven demand, supporting the US dollar and leading to year-end forecast revisions.
AUD/USD Falls to 0.6900, Further Drop Toward 0.6830 Seen
The AUD/USD pair declined 0.28% to near 0.6900 during Wednesday's European session, hitting its lowest level in over two weeks. Analysts expect additional downside toward the 0.6830 area.
USD/JPY Intervention Risk Caps Downside, Says MUFG
MUFG strategist Lee Hardman notes USD/JPY is trading near recent highs but remains capped below July 2024 peak of 161.95 due to intervention risks.
Pound, Gilts Unfazed by UK PM Starmer's Resignation
The pound and UK gilts reacted calmly to Keir Starmer's resignation as prime minister, with analysts noting markets are growing less sensitive to political upheavals. The post also highlights Streeting as a bullish chancellor choice for sterling.
Hungary Cuts Rate by 25 bps to 6.00%; Standard Chartered Sees Faster Easing
The National Bank of Hungary cut its base rate by 25 bps to 6.00%, in line with expectations. Standard Chartered analyst Saabir Salad described the decision as notably dovish, signaling a faster easing path ahead.
Euro Extends Losses Against US Dollar as Fed Hike Bets Firm
The euro continued its decline against the US dollar on Wednesday, falling 0.25% to around 1.1350 as expectations for further Federal Reserve rate hikes strengthened.
UOB highlights sharp selloff in AUD/USD, sees risk to 0.6835
AUD/USD plunged 1.22% to 0.6908, leaving the pair deeply oversold but with further downside risk, according to UOB analysts. They note potential for a brief intraday break below 0.6900, targeting 0.6835.
Gold Bears Stay in Control as Fed Rate-Hike Bets Lift USD
Gold (XAU/USD) recovers slightly from nearly two-week lows near $4,050, but bears retain control as Federal Reserve rate-hike expectations continue to support the US dollar.
Silver Rebounds Toward $62 After Hitting Six-Month Lows
Silver (XAG/USD) recovered from a six-month low, trading around $61.70 during European hours after a 5% loss the previous day.
USD/JPY Breaks Above 160, Intervention Fears Cap Gains – OCBC
USD/JPY has broken back above 160, but intervention risk and official warnings are limiting further upside relative to other G10 currencies, according to OCBC strategists.