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Chinese Yuan: PBoC’s new tool signals mild strength – BNY
Geoff Yu at BNY highlights that the PBoC’s new overnight liquidity tool was launched at 1.25%, below consensus and the seven-day reverse repo rate, sending a dovish signal. The facility aims to smooth short-end funding and cash market volatility.
Fxstreet
Mon, Jun 29
GBP/JPY Price Forecast: Ascending triangle puts YTD high in play
The Pound Sterling advances against the Japanese Yen on Monday, up 0.59% amid fears for a possible intervention by Japanese authorities in the foreign exchange markets. At the time of writing, the GBP/JPY trades at 214.78, bouncing off daily lows of 213.41.
Fxstreet
Mon, Jun 29
Euro strengthens as Eurozone sentiment improves ahead of German HICP
EUR/USD rose above 1.1420 in the American session on Monday as investors digested mixed Eurozone sentiment figures and looked ahead to key German data. The latest Eurozone releases showed Business Climate in June at -0.38, weaker than the previous revised -0.27 reading.Fxstreet
Mon, Jun 29
Canadian Dollar consolidates amid Oil price rebound, US labor data focus
USD/CAD trades around 1.4210 on Monday at the time of writing, as investors remain on the sidelines ahead of a series of key US labor market releases, culminating with Thursday's June Nonfarm Payrolls (NFP) report.
Fxstreet
Mon, Jun 29
British Pound rises as Burnham fiscal pledge calms markets
The Pound Sterling advances 0.40% on Monday after Andy Burhnham, set to become the new Prime Minister, commented that he will adhere to fiscal rules set by Chancellor Rachel Reeves at a speech in which he laid the path for the economy.
Fxstreet
Mon, Jun 29
Euro: Range trading likely to persist against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note EUR/USD is holding within a short-term channel as markets await comments from ECB President Lagarde at the Sintra symposium, which historically has had limited impact on near-term price action.Fxstreet
Mon, Jun 29
Japanese Yen: Japan export controls and strong sales support JPY risk premium – BNY
BNY’s Geoff Yu notes that China has expanded its export control list to include more Japanese entities, raising supply chain risks for defense and rare earths, while Japanese commercial sales grew strongly in May.Fxstreet
Mon, Jun 29
Canadian Dollar: Stabilizes against US Dollar as spreads narrow – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) has gained modest relief as front-end US/Canada spreads retreat about 10bps from last week’s peak, though rate differentials remain punitive.Fxstreet
Mon, Jun 29
Euro: Sintra seasonality points to tactical strength against US Dollar – BNY
BNY’s Geoff Yu highlights a recurring post-Sintra pattern in the Euro, with hawkish ECB communication from Christine Lagarde typically driving EUR/USD gains from late June into early July before they fade.Fxstreet
Mon, Jun 29
Japanese Yen: Downtrend tests 2024 low against US Dollar – Societe Generale
Societe Generale’s Kenneth Broux highlights that USD/JPY has broken out of a brief consolidation and is now challenging its 2024 peak near 162.00. The bank notes strong May retail sales support expectations for further Bank of Japan tightening.Fxstreet
Mon, Jun 29
USD/CAD Price Forecast: Might correct further to near 1.4140 as oscillators start cooling down
The USD/CAD pair trades flat at around 1.14195 during the European trading session on Monday. The Loonie pair consolidates as investors shift focus to the United States (US) Nonfarm Payrolls (NFP) data for June, which will be released on Thursday.Fxstreet
Mon, Jun 29
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