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Asian FX: Scope for selective recovery on softer USD – OCBC
OCBC’s Christopher Wong suggests Asian FX may find a breather if USD momentum fades, with much Fed hawkishness and US data resilience already priced in. Contained Oil prices should ease external balance and inflation concerns for net Oil importers.Fxstreet
Tue, Jun 30
Thai Baht: Recovery seen shallow without USD fade – OCBC
Christopher Wong at OCBC notes USD/THB’s recent rebound is running into interim resistance around 33.40 after a sharp move higher. Bank of Thailand officials attribute THB weakness mainly to broad USD strength and Thai equity outflows, while signalling readiness to manage excessive FX moves.Fxstreet
Tue, Jun 30
BoE’s Bailey: “We have time to judge the pass-through of higher energy prices”
Bank of England (BoE) Governor Andrew Bailey said in comments to CNBC that policymakers have time to assess how higher energy prices may feed through into the United Kingdom (UK) economy, while noting that financial conditions have already tightened.
Fxstreet
Tue, Jun 30
Fed’s Hammack: “Inflation is still too high, Fed may need to consider rate hikes”
Beth Hammack, President of the Federal Reserve (Fed) Bank of Cleveland, told CNBC on Tuesday that the United States (US) economy remains resilient. The labor market is near full employment, and growth still looking solid.
Fxstreet
Tue, Jun 30
United States: Labor stability tempers Fed hike risks – TD Securities
TD Securities’ macro team led by Oscar Munoz expects headline US Nonfarm Payrolls to slow to 80k in June, with 55k private and 25k government jobs, marking a return to breakeven job growth. The Unemployment Rate is forecast to edge down to 4.2% as participation slips.Fxstreet
Tue, Jun 30
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US Stocks Tumble as Nasdaq Drops Over 4%; Micron Plunges Over 12% on Fears Slowing AI Data Center Expansion Will Dent Infrastructure Demand
Nasdaq Drops Over 5%, Philadelphia Semiconductor Index Plunges 12% as Chip and AI Infrastructure Stocks Are Sold Off; Micron Falls 17%, Nvidia Drops 9%
US October Nonfarm Payrolls Preview: Can Employment Rebound? US Stocks, Dollar and Gold Face Key Test
Oil Price Forecast: Brent Falls Below $100 to Two-Month Low as Democratic Win Sparks Truce Hopes, Risks Retesting $80
Micron Stock Price Forecast: Plunges 25% in a Month to Lose $800 Mark, Faces Over 30% Further Downside
