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Intervention Rumors Jolt USD/JPY Ahead of US Holiday
Unconfirmed reports of a new wave of currency intervention are circulating after a sharp drop in USD/JPY before the US bank holiday, fueling market anxiety.
NBC: ECB Hawkishness Fails to Support Euro as Spreads Cap Gains
National Bank of Canada strategists note that the euro fell toward 1.13 in June despite a more hawkish ECB, indicating that EUR/USD remains driven by relative spreads.
ING: Hungarian inflation below forecasts supports further rate cuts
ING analyst highlights Hungarian inflation at 1.7% below market and NBH forecasts, cementing rate cuts in July and August with markets pricing 150bp of easing.
EUR/USD Holds Upside Bias Above Support Near 1.1440 – UOB
United Overseas Bank notes EUR/USD maintains a firmer tone near 1.1440, with the pair expected to trade slightly higher within a 1.1425–1.1470 range.
NZD/USD Faces Pressure Near 0.5700 Ahead of RBNZ Decision
The NZD/USD pair fell 0.2% to near 0.5690 during European trading as selling pressure mounts ahead of the Reserve Bank of New Zealand's monetary policy decision.
BNP Paribas: ECB's Cautious Path to Further Hikes
BNP Paribas analysts reviewed recent ECB communication from the Sintra forum, noting a cautious stance from President Lagarde and a pivot toward framework guidance amid volatile conditions.
USD/CAD Breaks Out, Targets 1.4250 as Canadian Dollar Weakens
Societe Generale notes USD/CAD has broken out of a large consolidation range and extended gains toward 1.4250, with the prior range top at 1.4130 now acting as support.
Silver Falls 1.79% to $60.95 on Tuesday
Silver prices declined on Tuesday, trading at $60.95 per troy ounce, down 1.79% from the previous day's $62.06.
USD Halts Decline, JPY Weakness Spurs Intervention Risks
The dollar has paused its bearish trend in FX markets, while the yen remains dangerously weak, raising the likelihood of Japanese intervention to support the currency.
Hungarian Forint Dovish Inflation Path Supports More Cuts – ING
ING analyst František Táborský notes Hungary's inflation dropped to 1.7%, below both market and NBH forecasts, paving the way for further rate cuts in July and August.
SpaceX Debuts on Nasdaq 100 as Pound Strengthens
SpaceX joins the Nasdaq 100 index while the British pound hits its highest level against the US dollar since mid-December. European equity markets are mostly higher, shrugging off rising oil prices and AI-linked selloffs in Asia.
Silver Slips Below $61.00 as Markets Turn Cautious
Silver (XAG/USD) pulled back from Monday's peak, trading below $61.00 as cautious sentiment trimmed last week's gains.
Yen Weakens to 161.84, Intervention Awaited
The yen remains under pressure against the dollar, trading near 161.84, a 40-year low, as markets await potential intervention from Japanese authorities.
AUD/USD Upside Risks Grow Toward 0.6980 – UOB
UOB analyst Quek Ser Leang notes AUD/USD rebounded strongly from 0.6923 to 0.6959, with increasing upward momentum. Intraday upside risks are now seen toward 0.6970–0.6980, with supports at 0.6945.
US Stocks Rise, Dow Hits Record High; Focus on RBNZ
US equity markets ended Monday in positive territory, with the S&P 500 up 0.7% and the Dow Jones hitting a fresh all-time high. Traders are now eyeing the Reserve Bank of New Zealand decision.
Canadian Dollar Constrained Near Term – NBC Analysts
National Bank of Canada analysts note the Canadian dollar is caught between improving domestic growth and a challenging external backdrop, with USD/CAD recently rising above 1.42 and forecasts easing to 1.33 by Q2.
Market Expectations Point to Lower Rates in Poland vs Czechia
Market expectations indicate that interest rates in Poland will be lower than in Czechia, while Hungary is expected to continue its easing cycle after a recent rate cut. The FRA 9x12 rate in Hungary has been declining.
USD/CHF Holds Above 0.8075 Resistance as Buyers Support Dips
The USD/CHF pair extends its gains for a second day, with shallow downside attempts and mild bullish momentum keeping the 0.8075 resistance level in focus.
ING: Le Pen Ruling Has Limited Impact on Euro
ING strategist Francesco Pesole views the Marine Le Pen eligibility ruling as a low-impact event for markets, noting that investors have already priced in a National Rally victory in upcoming French elections.
Canadian Dollar Weakens, USD/CAD Rises to 1.4210
USD/CAD extended gains for a third consecutive session, trading near 1.4210 as the US dollar held steady amid renewed geopolitical tensions.
GBP/USD Targets 1.3410–1.3445 on Strong Momentum – UOB
UOB analyst Quek Ser Leang notes GBP/USD surged to 1.3397 and closed firm at 1.3391, with intraday scope for further gains toward 1.3410, though 1.3445 may be out of reach.
Iran warns US threats could derail nuclear deal negotiations
Iran’s Foreign Minister Abbas Araghchi said US threats could prevent talks on a final nuclear deal from starting, according to a post on X.
Commerzbank: RBNZ Rate Hike Likely in July, Supports NZD
Commerzbank analyst Volkmar Baur expects the Reserve Bank of New Zealand to raise rates at its July meeting to reinforce inflation-fighting credentials, which should initially support the New Zealand Dollar.
Japanese Yen Gains Past 162.00 as Dollar Weakens
The Japanese Yen edged higher on Tuesday, pushing USD/JPY below the 162.00 level and easing near-term intervention fears after the pair retreated from Monday's highs near 162.40.