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Canadian Dollar dips as softer Oil, robust US inflation weigh on CAD
USD/CAD trades higher around 1.3990 on Friday, with the US Dollar (USD) benefiting from stronger-than-expected inflation data in the United States (US), while the Canadian Dollar (CAD) remains weighed down by falling Oil prices and a Bank of Canada (BoC) that is showing little urgency to raise ratesFxstreet
Fri, Jun 12
Mexican Peso: Steady outlook faces USMCA risks – Societe Generale
Societe Generale strategists note Mexico still appears steady even as conditions become more challenging. Inflation has cooled to 3.94% in May, while Banxico has signalled an end to its easing cycle, leading markets to price potential hikes.
Fxstreet
Fri, Jun 12
Euro: Seen drifting toward 1.1400 against US Dollar – BBH
Brown Brothers Harriman’s Elias Haddad reports that EUR/USD briefly dipped toward 1.1500 after the ECB decision before rebounding on the US-Iran breakthrough. Haddad expects EUR/USD to edge lower and stabilize closer to 1.1400 as US growth outperforms the Eurozone.Fxstreet
Fri, Jun 12
Brazilian Real: Downside risk against US Dollar – Societe Generale
Societe Generale analysts reports USD/BRL has been rebounding from an interim low near 4.88 and is approaching the 200-DMA and a descending trend line around 5.25. They stress the need to see if a base and trend reversal can form, with resistance at 5.32/5.34 and downside risk if 4.99 fails.Fxstreet
Fri, Jun 12
Euro: Medium-term upside case versus Dollar – Nordea
Nordea’s Jan von Gerich notes that EUR/USD is stuck between 1.15 and 1.16 despite strong US data and favourable US interest rate differentials. He argues the Dollar has underperformed relative to historical patterns and still expects a higher EUR/USD in the medium term.Fxstreet
Fri, Jun 12
Australian Dollar: Rebound tests 0.7060 resistance against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note AUD/USD’s sharp rebound from 0.6979 to 0.7055 has room to extend toward 0.7060, though a clear break above this level is seen as unlikely near term.Fxstreet
Fri, Jun 12
Japanese Yen gives away gains with markets awaiting clarity on Iran’s war
The Japanese Yen (JPY) is giving away previous gains against the US Dollar (USD) on Friday, with the USD/JPY pair returning to levels above 160.00, widely considered as the limit of tolerable yen weakness for Japanese authorities.
Fxstreet
Fri, Jun 12
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