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WTI rises above $84.50 as escalating global supply risks threaten key export hubs
West Texas Intermediate (WTI) oil price gains ground for the second successive day, trading around $84.60 per barrel during the Asian hours on Wednesday. Crude oil prices surge as supply risks intensified across several key export routes, extending well beyond the Middle East.
Euro holds gains above 1.1400 on hawkish ECB expectations despite US-Iran tensions
The EUR/USD pair trades with mild gains around 1.1405 during the early Asian session on Wednesday. A hawkish tone from the European Central Bank (ECB) provides some support to the Euro (EUR) against the US Dollar (USD). Traders await the upcoming ECB interest rate decision on Thursday.
Fxstreet
Wed, Jul 22
Iran says interests of US and its allies will be targeted if US strikes Iran's nuclear sites
Iran's top joint military command said that Tehran will expand its strikes and target the US and its allies' interests across the region if the US attacks Iran's nuclear sites, Xinhua news agency reported on Tuesday.Fxstreet
Tue, Jul 21
Federal Reserve seen holding rates next week amid Oil shock ‒ Reuters
A Reuters poll revealed that the Federal Reserve is most likely to keep interest rates unchanged for the rest of the year as it battles stubbornly high inflation that has remained above the Fed’s 2% goal for at least 5 years.Fxstreet
Tue, Jul 21
South Korean Won: Support cluster near 1,464/1,461 – Societe Generale
Societe Generale’s technical team notes USD/KRW failed twice to break above the June high around 1,561, triggering a deeper decline towards the 200-day moving average. The pair is now testing this key MA, with next support at a multi-month ascending trend line near 1,464/1,461.Fxstreet
Tue, Jul 21
Singapore Dollar: AI exports support SGD against US Dollar – Commerzbank
Commerzbank’s Moses Lim and Dr. Henry Hao note that Singapore’s June non-oil domestic exports (NODX) growth moderated to 20.7% year-on-year but remained strong, with electronics exports surging on AI-related semiconductor demand.Fxstreet
Tue, Jul 21
Indonesian Rupiah: Tentative stabilisation with key levels against US Dollar – OCBC
OCBC’s Sim Moh Siong and Christopher Wong see USD/IDR easing modestly from recent highs, helped by S&P’s rating affirmation and Bank Indonesia’s prior tightening. However, elevated Oil prices, lingering fiscal concerns and still-soft portfolio inflows limit further IDR gains.Fxstreet
Tue, Jul 21
US President Trump: “We’re not finished at all with Iran”
United States (US) President Donald Trump said during a press conference at the White House on Tuesday that Washington could intensify its military campaign against Iran, including possible strikes on the underground Pickaxe Mountain site.
Fxstreet
Tue, Jul 21
India: Weather-driven inflation risks – Standard Chartered
Standard Chartered Bank economist Saurav Anand highlights rising inflation risks for India as deficient monsoon rains and persistent El Niño threaten food output. The report notes sowing is down and reservoir levels are low, with pulses, vegetables, sugar and oilseeds most exposed.Fxstreet
Tue, Jul 21
Canadian Dollar: Mean reversion faces tariff headwinds – Societe Generale
Societe Generale strategists note that softer June inflation in Canada has stalled the Canadian Dollar’s (CAD) rebound from 1.4250 toward 1.40 against the US Dollar (USD). Failure to reclaim the 50-day moving average around 1.3991 and new US tariffs on Canadian goods complicate the mean-reversion.
Fxstreet
Tue, Jul 21
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