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USD/JPY Price Forecast: Retreats from 162.00 neighborhood; bullish setup favors dip-buyers
The USD/JPY pair continues with its struggle to reclaim the 162.00 mark on Friday and retreats slightly from the vicinity of a 40-year peak.
Fri, Jun 26
Mexican Peso: Stable summer trading view against US Dollar – Rabobank
Rabobank strategists Christian Lawrence and Molly Schwartz note that Banxico’s June 25 decision highlighted an unchanged policy rate at 6.50%, in line with consensus. They expect Banxico to stay on hold through year-end, mirroring their stance on the Bank of Canada (BoC) and Federal Reserve (Fed).
Fri, Jun 26
US Dollar: Eases as markets reassess Fed – DBS
DBS Group Research strategist Philip Wee notes that the US Dollar Index (DXY) has seen its first post-FOMC decline as US inflation data suggest a possible peak.
Fri, Jun 26
WTI Oil struggles below $70 amid expectations of higher Middle East supply
Crude Oil prices edge lower on Friday, with the US benchmark West Texas Intermediate (WTI) barrel changing hands at $69.65 at the time of writing. This is the lowest price since February 27, one day before the US and Israel launched a joint attack on Iran.
Fri, Jun 26
Indian Rupee: Rangebound performance with debt inflows – Societe Generale
Societe Generale strategists notes that the Indian Rupee (INR) traded broadly flat over the week but outperformed regional peers thanks to debt portfolio inflows. They highlight that broad US Dollar (USD) strength overshadowed moves in Gold and Brent.
Fri, Jun 26
Eurozone consumer one-year inflation expectations cool down to 3.5% - ECB survey shows
According to the latest European Central Bank (ECB) survey, one-year forward Eurozone inflation expectations are expected to cool down, but longer-term projections remain steady, Reuters reports.
Fri, Jun 26
Australian Dollar: Still in weak phase against US Dollar – UOB
United Overseas Bank’s Quek Ser Leang and Lee Sue Ann note AUD/USD remains under pressure after an impulsive decline, though oversold conditions have prompted near-term consolidation between 0.6880 and 0.6920.
Fri, Jun 26
Iran’s Foreign Ministry: US military presence in Gulf is source of insecurity and division in region
Iranian Foreign Ministry said during the European trading session on Friday that the joint statement by the United States (US) and Gulf Cooperation Council (GCC) contains 'interventionist, irresponsible and provocative positions'.
Fri, Jun 26
Gold: Steadies after sharp correction – ING
ING strategists Warren Patterson and Ewa Manthey observe that Gold stabilized after dropping below the $4,000/oz mark earlier in the week, supported by lower US Treasury yields following softer US inflation data.
Fri, Jun 26
162.00: Why the Japanese Yen is still trading near intervention levels despite inflation closing in on the BoJ target
The Japanese Yen (JPY) is finding a firmer fundamental floor as inflation in the Greater Tokyo Area edges closer to the Bank of Japan’s (BoJ) 2% target. While the Yen has shown recent stability against the US Dollar, it remains locked in a high-stakes tug-of-war.
Fri, Jun 26
Brent Oil: Supply risks offset by strong flows – Danske Bank
Danske Research Team notes that Brent Oil initially spiked after reports of an Iranian attack on a cargo ship near Oman and a pause in U.N. escort operations in the Strait of Hormuz.
Fri, Jun 26
Austria UniCredit Bank Manufacturing PMI down to 50.9 in June from previous 51.7
Austria UniCredit Bank Manufacturing PMI down to 50.9 in June from previous 51.7
Fri, Jun 26
GBP/USD Price Forecast: Struggles to build on move beyond 1.3200 amid bearish setup
The GBP/USD pair sticks to its positive bias for the second straight day, though it lacks bullish conviction and trades just above the 1.3200 mark during the early European session on Friday.
Fri, Jun 26
US Dollar: Strength extends as growth holds – Commerzbank
Commerzbank’s Volkmar Baur notes that despite easing Oil prices and lower inflation expectations, market pricing still anticipates at least one more Federal Reserve rate hike by year-end, while the ECB is seen delivering only one further move to 2.5%.
Fri, Jun 26
AUD/USD Price Forecast: Downward-sloping 20-day EMA backs further decline
The Australian Dollar (AUD) underperforms its major currency peers, trading 0.25% lower to near 0.6890 against the US Dollar (USD) during the European trading session on Friday. The antipodean weakens as market participants expect the next move by the Reserve Bank of Australia (RBA) on the downside.
Fri, Jun 26
Equities: Tech selloff spreads despite chip strength – Deutsche Bank
Deutsche Bank strategists note that tech weakness extended from the Magnificent 7 and Apple into Asian markets, weighing on risk sentiment and US equity futures.
Fri, Jun 26
Silver Price Forecasts: XAG/USD edges up, nearing $58 as the US Dollar takes a breather
Silver (XAG/USD) has bounced up from seven-month lows below $56.00 on Friday, to reach session highs at $57.80 at the moment of writing.
Fri, Jun 26
British Pound: Range trade holds against US Dollar – UOB
United Overseas Bank’s Quek Ser Leang and Lee Sue Ann note GBP/USD failed to test major support at 1.3110, instead rebounding from 1.3152 to 1.3218 before closing at 1.3190.
Fri, Jun 26
Euro steadies against Canadian Dollar after paring recent losses
EUR/CAD remains flat after paring intraday losses, trading around 1.6150 during the European hours on Friday.
Fri, Jun 26
British Pound struggles to lure buyers amid UK politics as intervention fears support JPY
The GBP/JPY cross struggles to capitalize on the previous day's modest recovery gains and seesaws between tepid gains/minor losses through the early European session on Friday. Spot prices currently trade just below mid-213.00s, nearly unchanged for the day amid mixed fundamental cues.
Fri, Jun 26
