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Japanese Yen: Intervention threat capping losses versus US Dollar – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad notes Japan is close to the global ‘danger zone’ in bonds as more JGB issuance is planned to fund additional spending. Prime Minister Sanae Takaichi has called for a supplementary budget to offset higher commodity prices linked to the Iran war.
Fxstreet
Mon, May 18
AUD/USD: Momentum points to break of 0.7100 – UOB
United Overseas Bank's (UOB) Quek Ser Leang and Lee Sue Ann turn more negative on AUD/USD after a sharp sell-off toward 0.7140. They now sees a real chance of testing and breaking the major 0.7100 support, with 0.7065 as the next downside level.
Fxstreet
Mon, May 18
AUD/USD Price Forecast: Flattens around 0.7150 after recovering early losses
The AUD/USD pair trades flat around 0.7150 during the European trading session on Monday after recovering significant early losses. The Aussie pair bounces back as the US Dollar (USD) turns upside down on renewed hopes that the United States (US) and Iran will reach a deal soon.Fxstreet
Mon, May 18
Australian Dollar climbs against Yen as structural forces weigh on JPY
AUD/JPY trades around 113.65 on Monday at the time of writing, up 0.16% on the day. The pair rebounds as persistent weakness in the Japanese Yen (JPY) supports the cross, despite disappointing economic data from China limiting gains for the Australian Dollar (AUD).
Fxstreet
Mon, May 18
Euro: Bond sell-off weighs against US Dollar – ING
ING’s Chris Turner argues that higher long-dated yields and elevated energy prices are negative for Eurozone growth and thus for the Euro. He expects the European Central Bank to keep sounding hawkish to avoid losing control of long-end yields.
Fxstreet
Mon, May 18
British Pound: Downside risk versus US Dollar below 200-DMA – Societe Generale
Societe Generale economists argue that the British Pound (GBP) and Gilts face a pivotal period as the Bank of England (BoE) reacts to persistent inflation and wage pressures, which have slowed the pace of rate cuts and hurt long-end Gilts.Fxstreet
Mon, May 18
USD/CAD Price Forecast: 50% Fibo retracement near 1.3755 acts as key barrier
The USD/CAD pair trades marginally lower to near 1.3735 during the European trading session on Monday. The Loonie pair faces selling pressure as the US Dollar (USD) turns upside down due to hopes that the United States (US) and Iran will break the deadlock and reach a deal soon.
Fxstreet
Mon, May 18
Australian Dollar clings to recovery gains vs retreating USD; Iran tensions cap upside
The AUD/USD pair stages a goodish intraday recovery from the 0.7120-0.7115 area, or a fresh monthly low touched earlier this Monday, and sticks to modest gains through the first half of the European session.Fxstreet
Mon, May 18
Japanese Yen: Pressure builds near 159 against US Dollar – UOB
UOB’s Quek Ser Leang and Lee Sue Ann maintain a constructive view on USD/JPY after the pair advanced toward 158.84. Intraday, a push above 159.00 is anticipated, though staying above this barrier is uncertain and 159.40 is seen as distant resistance.Fxstreet
Mon, May 18
Swiss Franc advances as USD loses latest gains despite increased risk aversion
USD/CHF halts its five-day winning streak, trading around 0.7860 during the early European hours on Monday. The currency pair depreciated as the US Dollar (USD) surrendered its daily gains, despite a backdrop of heightened risk aversion and rising US interest rate hike expectations.Fxstreet
Mon, May 18
Indian Rupee: Policy support falls short against Oil – Commerzbank
Commerzbank’s Charlie Lay highlights that Indian Rupee (INR) has weakened nearly 12% against the US Dollar (USD) over a year, making it Asia’s worst performer, driven by heavy equity outflows and higher Oil import costs.Fxstreet
Mon, May 18
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