Market news
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WTI dips under $79 but bullish view holds on Iran tensions
West Texas Intermediate crude edged lower in Asian trading on Thursday, staying near a one-month high, as US-Iran tensions continue to support a bullish bias.
Gold Builds Floor Amid China Memory Crisis and Korea Leverage Unwind
Gold is finding support as China's memory chip sector collapses and Korea's leveraged trade positions unwind, following months of pressure from tightening monetary policy.
BoJ Survey: 90.4% of Japanese Households Expect Price Rise in Year
The Bank of Japan's quarterly survey shows that 90.4% of households anticipate prices will be higher one year from now, up from 83.7% in the previous survey.
EUR/USD Seen Dipping Back Towards 1.1400 as Dollar Bounces
The US Dollar Index recovered after a softer PPI reading, potentially rising towards 101 or higher, while EUR/USD may dip back to 1.1400. EURINR could fall further if it breaks below 111.
Euro Consolidates Near Four-Week High Above 1.1450 Amid Mixed Fed Signals
The EUR/USD pair holds steady above the 1.1450 level during Asian trading on Thursday, consolidating strong gains to its highest point since June.
AUD/JPY Dips Under 113.50, Bullish Bias Remains
AUD/JPY traded lower near 113.45 in early European hours amid verbal intervention by Japanese authorities supporting the yen, though the near-term bullish structure remains intact.
Indonesian Rupiah Weakens on Higher Oil Import Costs
The Indonesian Rupiah weakened against the US dollar on Thursday, with USD/IDR rising to around 18,100, as surging oil import costs stretch the trade balance.
Gold Bears Stay in Control Below 21-Day SMA
XAU/USD sellers maintain control as gold edges toward the $4,000 threshold, replicating Wednesday's Asian session losses.
Gold Declines as Iran Tensions Fuel Inflation Risks, Revive Fed Hike Bets
Gold (XAU/USD) fell during Asian trading on Thursday, approaching the previous day's low near $4,025, as rising Iran tensions stoked inflation concerns and strengthened expectations of further Federal Reserve rate hikes, boosting the US dollar.
BOJ Official Warns Delay in Stimulus Adjustment Amid High Inflation Risk
A senior Bank of Japan official stated that postponing stimulus adjustment while inflation remains high could trigger an economic downturn.
USD/CHF Edges Lower to 0.8060 Amid Middle East Tensions
The Swiss franc holds recent losses as the US dollar recovers on rising Middle East tensions, with USD/CHF trading around 0.8060 after opening with a bullish gap.
South Korean Won Rises After BoK Hikes Rates by 25 bps
The South Korean Won strengthened against the US Dollar after the Bank of Korea raised its benchmark interest rate by 25 basis points, the first hike in three-and-a-half years.
EUR/JPY Pulls Back to Triangle Top Near 186.00, Bullish Bias Remains
EUR/JPY edged lower during Asian trading on Thursday, pulling back to the top of an ascending triangle pattern around 186.00 after three days of gains. The pair maintains a constructive bullish bias as it trades above both the 9- and 50-period EMAs.
Silver Downtrend Persists Below $63 After Record High
Silver (XAG/USD) remains under downside pressure following its all-time high, with Elliott Wave analysis indicating a bearish bias below key resistance at $63.
US Dollar Index Hovers Near 100.50 as Fed Hike Bets Fade
The US Dollar Index consolidates near 100.50, close to a multi-week low, as expectations of further Fed rate hikes diminish.
Japanese Yen Strengthens on Intervention Warning, Cooling US Inflation
USD/JPY drops to near 162.15 during Asian hours as the yen gains after Japanese officials issued a verbal intervention warning and US inflation data eased.
Silver Falls to Near $57.00 as Middle East Tensions Boost Oil
Silver (XAG/USD) extends losses for a second day, trading around $57.00 per troy ounce during Asian hours on Thursday. Rising US-Iran tensions push oil prices higher and spark fresh inflation concerns, weighing on the non-yielding metal.
Japan’s Katayama: Ready to Act on Currency as Needed
Japan’s Finance Minister Satsuki Katayama stated on Thursday that authorities are prepared to take appropriate action on the currency at any time if necessary.
Big Tech Credit Risk Surges as CDS Spreads Hit Multi-Year Highs
Credit default swap spreads on major Big Tech firms have risen to near 7-year highs, more than doubling since the start of 2025, as record debt issuance to fund AI infrastructure raises credit risk concerns.
British Pound Weakens Below 1.3550 on Renewed US Strikes on Iran
GBP/USD fell to near 1.3530 in early Asian trading as renewed US strikes on Iran and shipping disruptions in the Strait of Hormuz stoked energy-driven inflation fears, pressuring the pound.
CAD Consolidates Near Four-Week High on Oil Support
The USD/CAD pair is consolidating near a four-week low, with elevated oil prices supporting the Canadian dollar. The pair oscillated in a range during the Asian session on Thursday.
PBOC Fixes USD/CNY at 6.7909, Slightly Lower Than Previous
The People's Bank of China set the USD/CNY central parity rate at 6.7909 for Thursday, marginally lower than the previous fix of 6.7910 and below the Reuters estimate of 6.7577.
NZD/USD Dips on Middle East Tensions, Awaits NZ Food Inflation Data
NZD/USD fell to around 0.5840 during Asian hours on Thursday, reversing two days of gains, as escalating Middle East conflict spurred risk aversion. Traders now eye Friday's New Zealand June food inflation data, which follows a sharp acceleration.
China's crude oil imports drop 41% YoY in June to lowest in 10 years
China's crude oil imports plunged 41% year-on-year in June to 29 million tons, the weakest level in a decade. Month-on-month imports fell 12%, marking an eight-year low.