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Federal Reserve: Monetary policy report cites “high inflation” due to tariffs
The Federal Reserve released its monetary policy report, in which the US central bank acknowledged that inflation remains elevated and that the labour market is broadly stable, a signal that the price stability goal hasn’t been achieved.
Fri, Jul 10
Silver edges lower despite Middle East tensions as Fed rate hike bets limit recovery
Silver (XAG/USD) trades slightly lower on Friday, hovering around $59.90 at the time of writing, down a modest 0.08% on the day.
Fri, Jul 10
NZD/USD Price Forecast: Recovery extends, but overhead SMAs cap the upside
NZD/USD remains on the front foot on Friday and is heading for a second consecutive weekly gain after the Reserve Bank of New Zealand (RBNZ) raised the Official Cash Rate (OCR) by 25 basis points (bps) on Wednesday and signaled that further policy tightening may be needed, boosting the New Zealand D
Fri, Jul 10
Russia Consumer Price Index (MoM) registered at 0.87% above expectations (0.8%) in June
Russia Consumer Price Index (MoM) registered at 0.87% above expectations (0.8%) in June
Fri, Jul 10
Singapore Dollar: Range-bound trade outlook against US Dollar – UOB
UOB’s Quek Ser Leang notes USD/SGD remains range-bound, with intraday action expected between 1.2905 and 1.2940 as recent price moves provided no fresh directional clues.
Fri, Jul 10
AUD/USD climbs as Chinese Yuan strength supports the Aussie
AUD/USD advances toward the 0.6960 area on Friday, supported by a softer US Dollar (USD) and renewed strength in the Chinese Yuan (CNY). The pair continues to recover on the four-hour chart, although escalating tensions between the United States (US) and Iran are limiting broader risk appetite.
Fri, Jul 10
Euro eases from one-week high as traders assess Middle East developments
EUR/USD trims gains on Friday as the US Dollar (USD) rebounds while traders digest the latest developments in the Middle East. At the time of writing, the pair is trading around 1.1433, easing from a one-week high of 1.1460 touched earlier during the Asian session.
Fri, Jul 10
Japanese Yen rises as Japan urges pension funds to invest in domestic assets
USD/JPY falls toward 161.80 on Friday, down 0.37% at the time of writing, as the Japanese Yen (JPY) benefits from an unexpected shift in the Japanese government's stance on domestic asset allocation.
Fri, Jul 10
European Central Bank: One more hike base case as data soften – OCBC
OCBC strategists Christopher Wong and Sim Moh Siong note that the European Central Bank's (ECB) June minutes justified the latest rate hike while keeping flexibility on future moves. Since then, Oil prices have fallen sharply and June Consumer Price Index (CPI) surprised on the downside.
Fri, Jul 10
China: Growth slowdown with uneven momentum – DBS
DBS economists Radhika Rao and Mo Ji project China’s Gross Domestic Product (GDP) growth to slow from 5.0% year-on-year in Q1 to 4.8% in Q2.
Fri, Jul 10
Canada: Labour market steadying with modest improvement – RBC
Royal Bank of Canada (RBC) economist Nathan Janzen notes that Canadian labour markets showed further signs of stabilisation in June, following a stronger improvement in May. Employment rose modestly, while per-worker conditions improved and the unemployment rate edged down to 6.5%.
Fri, Jul 10
India: Inflation risks stay skewed higher – ING
ING economists Deepali Bhargava and Lynn Song project India’s consumer inflation to edge up to 4.2% year-on-year in June, while wholesale inflation moderates to 9%.
Fri, Jul 10
Canadian Dollar gains after June jobs report tops forecasts
The Canadian Dollar (CAD) strengthens against the US Dollar (USD) on Friday after stronger-than-expected Canadian employment data. At the time of writing, USD/CAD is trading around 1.4151, near its lowest level in more than two weeks.
Fri, Jul 10
Mexico: Softer CPI backs dovish Banxico case – Societe Generale
Societe Generale analysts Dev Ashish and Brendan McKenna note that Mexico’s June inflation data surprised to the downside, with headline and core measures moving close to Banxico’s target range.
Fri, Jul 10
Qatar launches mediation effort with Iran to ease tensions over Strait of Hormuz
Qatar has dispatched negotiators to Iran for meetings with Iranian officials in a renewed diplomatic effort to de-escalate tensions and create conditions for broader negotiations to continue, according to a Reuters report citing a source familiar with the matter.
Fri, Jul 10
WTI price holds near $72 as hopes of US-Iran de-escalation weigh on Oil prices
West Texas Intermediate (WTI) trades around $72 at the time of writing on Friday, up 0.42% on the day, but remains in a consolidation phase after reaching a more than two-week high earlier this week.
Fri, Jul 10
New Zealand Dollar: Constructive outlook faces yield constraints – OCBC
OCBC strategists Christopher Wong and Sim Moh Siong note that the New Zealand Dollar (NZD) outperformed after stronger manufacturing data and hawkish Reserve Bank of New Zealand (RBNZ) commentary reinforced expectations for further tightening.
Fri, Jul 10
Canada: Stable card trends support cautious optimism – RBC
Royal Bank of Canada (RBC) analysts Abbey Xu and Rachel Battaglia report that June spending by RBC Canadian cardholders remained relatively stable, with core retail sales up modestly. Discretionary goods led gains, while essential spending including gasoline also contributed.
Fri, Jul 10
GBP/JPY Price Forecast: Bulls remain in control with RSI and MACD in positive territory
GBP/JPY trades under pressure on Friday after comments from Japan's Finance Minister Satsuki Katayama boosted the Japanese Yen (JPY). At the time of writing, the cross is trading around 217.10, down 0.30% on the day.
Fri, Jul 10
Equities: AI Boom risks and resilience – Commerzbank
Commerzbank economists Dr. Jörg Krämer and Bernd Weidensteiner argue that the AI-driven investment surge in US high-tech and IT is substantial but not yet excessive compared with past booms.
Fri, Jul 10
