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EUR/USD Under Pressure as 1.1400 Level Challenged
The euro remains under mild pressure, with EUR/USD testing the 1.1400 level. A breakdown below this support could send the pair to its lowest since July.
Societe Generale: Euro Inflation Scare Questioned, 1.13 Level Eyed
Societe Generale analysts point to softer Eurozone PMI price data and a dovish tone from ECB President Lagarde as key drivers for EUR/USD. They see the 1.13 handle as in focus, with support around 1.1390.
Japanese Yen Edges Higher From Long-Term Lows as Intervention Risk Rises
The Japanese Yen edged up against the US Dollar on Tuesday after trading near 40-year lows, increasing the risk of intervention by Japanese authorities.
Silver Falls to $62.18, Down 4.47%
Silver prices declined on Tuesday, dropping 4.47% to $62.18 per troy ounce from the previous $65.09, according to FXStreet data.
ECB's Lane Warns of Persistent Inflationary Pressures in Eurozone
ECB Chief Economist Philip Lane stated that forward-looking signals indicate inflationary pressures in the Eurozone will remain above 2% for an extended period, despite potential peace prospects involving the US.
USD Strengthens on Hawkish Fed, EU PMI Data Awaited
The US dollar continued to rise on expectations of a hawkish Federal Reserve. Market focus shifts to preliminary European PMI figures for June, which could provide support for the euro if they show improved economic activity.
UK Flash Services PMI Misses Estimates, Falls to 48.7 in June
The preliminary S&P Global Services PMI for the UK arrived at 48.7 in June, below the expected 50.0 and down from 49.3 in May, indicating contraction.
Yen Near 40-Year Lows vs Dollar – Deutsche Bank
The Japanese yen remains under pressure, trading close to 40-year lows against the US dollar, according to Deutsche Bank analysts.
Euro Declines Against Yen as German Manufacturing PMI Flatlines
EUR/JPY fell for a second straight day on Tuesday, dropping to around 184.30 after Germany's HCOB Manufacturing PMI came in unchanged for June. Markets now await Eurozone-wide PMI figures.
USD/JPY Has Scope to Revisit 2024 Low – UOB
UOB analysts note sharp intraday swings in USD/JPY after the pair spiked to 161.92, and see scope for a revisit of the 2024 low against the US dollar.
DBS: Starmer's Resignation Won't Trigger UK Budget Crisis
DBS Group Research economist Philip Wee believes Sir Keir Starmer's resignation and the Labour leadership contest are not a repeat of the 2022 mini-budget crisis, keeping the British Pound stable.
Euro Edges Lower After Weak German PMI Data
EUR/USD slipped from daily gains after Germany's HCOB Purchasing Managers Index data was released, trading around 1.1430 during European hours on Tuesday.
Yen Intervention Risk and Sterling Rally on UK Leadership Hopes
Options market signals growing chance of JPY intervention ahead of US-Japan finance ministers meeting, while sterling gains on hopes of market-friendly UK Chancellor.
USD/JPY Approaches 162.00 as Asian Currencies Weaken – MUFG
MUFG notes that the US dollar is strengthening, pushing USD/JPY toward 162.00 amid orderly weakness in Asian currencies. The Japanese yen’s downside bias persists as the Bank of Japan lags the Federal Reserve.
Kiwi Tests Year-to-Date Lows Near 0.5683
The New Zealand Dollar extended its losing streak for a fifth consecutive session, dipping below 0.5700 and approaching the year-to-date low of 0.5683 amid cautious market sentiment.
Danske Bank: Widening Rate Spreads Pressure EUR/USD
Danske Bank notes that EUR/USD opened the week under pressure as widening interest rate differentials continue to favor the US dollar over the euro.
AUD/USD Extends Losing Streak, Tests Descending Channel Bottom at 0.6950
The Australian dollar weakened for a sixth straight session, with AUD/USD hovering near 0.6960 and testing the lower boundary of a descending channel pattern, suggesting continued bearish pressure.
GBP/USD Bearish Bias Persists as Pair Tests Symmetrical Triangle Breakdown
The British Pound edged lower against major peers during Tuesday's European session but held firm versus Asia-Pacific currencies, with technicals pointing to a continued bearish outlook as the pair probes a symmetrical triangle breakdown zone.
Euro Area June Flash PMIs in Focus After US-Iran Deal
Euro area June flash PMI data is set for release, with market participants likely having responded after the US-Iran deal. The impact of lower oil prices may not yet be reflected in activity figures.
Euro declines below 1.1450 on US-Iran peace deal uncertainty
EUR/USD trades with mild losses around 1.1425 during early European session Tuesday as the US Dollar edges higher amid risk-off sentiment and a hawkish Federal Reserve, driven by uncertainty over a US-Iran peace deal.
USD/JPY Holds Above 161.50, Eyes Multi-Decade High Despite Intervention Fears
USD/JPY enters a bullish consolidation phase, trading just above 161.50, with traders eyeing multi-decade highs even as intervention fears persist.
India's HSBC Manufacturing PMI Slips to 54.5 in June
India's HSBC Manufacturing PMI eased to 54.5 in June from 55.0 in May, according to the latest data from S&P Global and HSBC Bank.
Indonesian Rupiah Declines as MSCI Downgrade Risks Loom
USD/IDR extends gains for a second consecutive day, trading near 17,900, as MSCI downgrade risks and severe economic headwinds pressure Southeast Asia's largest economy.
AUD/JPY Steadies Below 113.00 as Intervention Fears Loom
The AUD/JPY cross trades around 112.75 during early European hours, with the yen strengthening on intervention concerns. The bias remains mildly bullish despite the losses.