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Japanese Yen: Fiscal unease and BoJ path – MUFG
MUFG’s Lee Hardman notes the Japanese Yen (JPY) has firmed slightly, pulling USD/JPY back from 162.18 to 161.68, as comments from Growth Strategy Minister Minoru Kiuichi attempt to calm fiscal worries.
Tue, Jul 7
Gold: Price dip seen limited as PBoC buying continues – Commerzbank
Commerzbank’s Carsten Fritsch notes Gold fell to USD 4,120 per ounce after fresh Iranian attacks lifted TTF gas and Oil prices, but Fed rate expectations remain unchanged.
Tue, Jul 7
United States Goods and Services Trade Balance above expectations ($-78B) in May: Actual ($-77.6B)
United States Goods and Services Trade Balance above expectations ($-78B) in May: Actual ($-77.6B)
Tue, Jul 7
Canada Imports climbed from previous $72.44B to $72.86B in May
Canada Imports climbed from previous $72.44B to $72.86B in May
Tue, Jul 7
Canada International Merchandise Trade registered at $4.24B above expectations ($2.7B) in May
Canada International Merchandise Trade registered at $4.24B above expectations ($2.7B) in May
Tue, Jul 7
Canada Exports up to $77.1B in May from previous $75.16B
Canada Exports up to $77.1B in May from previous $75.16B
Tue, Jul 7
Euro: ECB support limited by spreads – NBC
National Bank of Canada ’s (NBC) Stéfane Marion and Kyle Dahms note the Euro (EUR) fell toward 1.13 in June despite a more hawkish European Central Bank (ECB), underscoring that EUR/USD remains driven by relative rates.
Tue, Jul 7
US ADP Employment Change 4-week average drops to 20K
Private-sector hiring in the US has further cooled in late June. According to the NER Pulse, the weekly companion to the ADP National Employment Report, companies added an average of 20K jobs per week in the four weeks ending June 20.
Tue, Jul 7
Bitcoin Price Forecast: BTC struggles despite renewed ETF inflows as Strategy sale impact fades
Bitcoin (BTC) falls below $64,000 on Tuesday, erasing part of the recent gains following six consecutive days of price rises. Institutional demand shows signs of recovery, with spot ETFs recording a second day of inflows through Monday after weeks of outflows.
Tue, Jul 7
New Zealand Dollar: RBNZ seen starting rate hikes – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad highlights the Reserve Bank of New Zealand (RBNZ) policy decision as the key domestic event, with a first 25 bps hike to 2.50% expected.
Tue, Jul 7
United States ADP Employment Change 4-week average down to 21K in June 13 from previous 30.75K
United States ADP Employment Change 4-week average down to 21K in June 13 from previous 30.75K
Tue, Jul 7
Japanese Yen: Inflation curve debate shapes outlook – Rabobank
Rabobank’s Senior FX Strategist Jane Foley discusses the Japanese Yen’s (JPY) recent strength and questions whether the Bank of Japan (BoJ) is truly behind the inflation curve.
Tue, Jul 7
Crypto Today: Bitcoin, Ethereum, XRP struggle to build momentum despite returning ETF inflows
The cryptocurrency market continues to struggle with dominant headwinds, with Bitcoin (BTC) hovering around the short-term $63,000 support, Ethereum (ETH) holding below $1,800 and Ripple (XRP) testing the demand area at $1.13.
Tue, Jul 7
Brent: Hormuz security risks support prices – BNY
Geoff Yu reports that a Qatari LNG carrier was struck near the Strait of Hormuz, reviving security concerns and lifting European gas prices and Brent, WTI, Omani and Dubai crude benchmarks.
Tue, Jul 7
Gold stalls recovery as Fed uncertainty keeps buyers cautious
Gold (XAU/USD) stalls its recovery and trades on the back foot for a second consecutive day as a steady US Dollar (USD) and doubts over the Federal Reserve's (Fed) interest rate path keep the upside in check.
Tue, Jul 7
Hungarian Forint: Dovish inflation path supports more cuts – ING
Frantisek Taborsky at ING highlights Hungarian inflation falling to 1.7%, below market and National Bank of Hungary (NBH) forecasts, cementing rate cuts in July and August. Markets price around 150bp of easing and a 4.50% terminal rate, with scope for additional cuts.
Tue, Jul 7
Euro: Upside bias held above strong support against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang reports EUR/USD holding near 1.1440 with a firmer underlying tone. The pair is expected to trade slightly higher in a 1.1425–1.1470 range intraday.
Tue, Jul 7
NZD/USD Price Forecast: Faces pressure near 0.5700 in countdown to RBNZ policy
The NZD/USD pair is down 0.2% to near 0.5690 during the European trading session on Tuesday. The Kiwi pair faces selling pressure as the New Zealand Dollar (NZD) underperforms its peers ahead of the Reserve Bank of New Zealand’s (RBNZ) monetary policy decision on Wednesday.
Tue, Jul 7
Pi Network Price Forecast: PI flashes early reversal signals at the last line of defense
Pi Network (PI) is trading near its lowest level at $0.1100 on Tuesday, under intense downside pressure. PI remains vulnerable to steeper corrections, with its fourth straight day of losses amid weak market-wide risk appetite.
Tue, Jul 7
Federal Reserve: Trimmed inflation guides rate outlook – Rabobank
RaboResearch Global Economics & Markets discusses how the Federal Reserve’s new task force on inflation frameworks under Chair Warsh may elevate trimmed inflation in policy decisions.
Tue, Jul 7
