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British Pound struggles to lure buyers amid UK politics as intervention fears support JPY
The GBP/JPY cross struggles to capitalize on the previous day's modest recovery gains and seesaws between tepid gains/minor losses through the early European session on Friday. Spot prices currently trade just below mid-213.00s, nearly unchanged for the day amid mixed fundamental cues.
Fxstreet
Fri, Jun 26
Commodities
Oil: Downside momentum persists as flows recover – ING
ING strategists Warren Patterson and Ewa Manthey note that Oil rebounded after a vessel was struck in the Persian Gulf, but they stress that price momentum remains to the downside as flows through the Strait of Hormuz recover.
Fxstreet
Fri, Jun 26
Stocks
Meituan Executives Reaffirm Shareholder Commitment, Signal Buyback Plan
Meituan shares briefly rose on Friday after the company addressed investor concerns over its recent stock performance at its annual general meeting.Chief Executive Officer Wang Xing called for more rational competition and sustainable industry development, while responding to questions about the com...Tiger News
Fri, Jun 26
Economic Indicator
US Dollar Index weakens below 101.50 after US PCE inflation as Fed rate hike odds fade
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 101.40 during the early European trading hours on Friday.
Fxstreet
Fri, Jun 26
Indices
US Dollar: Structural support holds with high-for-longer rates – MUFG
MUFG’s Lloyd Chan notes that strong United States (US macro data continue to support a high-for-longer US rates environment, with Personal Consumption Expenditures (PCE) Price Index inflation and Gross Domestic Product (GDP) both firm.Fxstreet
Fri, Jun 26
Forex
Japanese Yen: Inflation nears target as BoJ eyes hikes – Commerzbank
Volkmar Baur at Commerzbank highlights that Greater Tokyo inflation has edged up and is now just below 2%, a positive backdrop for the Japanese Yen. With limited second-round effects from Oil and signs of structural normalization, the Bank of Japan can keep normalizing policy.
Fxstreet
Fri, Jun 26
Forex
162.00: Japanese Yen rebounds as key support holds
The US Dollar (USD) struggles to extend its advance against the Japanese Yen (JPY) above 162.00 for almost a week. The USD/JPY pair is failing to gain further as the US Dollar corrects due to easing market expectations for at least two interest rate hikes by the Federal Reserve (Fed) this year.Fxstreet
Fri, Jun 26
Forex
Euro: Consolidation after sharp decline against US Dollar – UOB
United Overseas Bank’s Quek Ser Leang and Lee Sue Ann highlight that EUR/USD has rebounded from deeply oversold levels after dropping to 1.1324, with price action now viewed as consolidation in a slightly higher 1.1345–1.1395 band.Fxstreet
Fri, Jun 26
Cryptocurrencies
XRP clings to $1 as long liquidations deepen bearish trend
Ripple (XRP) trades near the key psychological support level of $1 at the time of writing on Friday after losing more than 8% so far this week. CoinGlass liquidation data shows that over 97% XRP long positions were wiped out over the past 24 hours.
Fxstreet
Fri, Jun 26
Market Movers
Ethereum (ETHUSD) Is down 1.01% on Jun 26: What Do On-Chain Data and Market Sentiment Show?
• Higher U.S. inflation expectations and hawkish Federal Reserve policies pressure digital asset liquidity. • U.S. spot Ethereum ETFs recorded six consecutive days of net institutional capital outflows. • Delayed protocol upgrades and developer funding uncertainties negatively impact Ethereum market sentiment.
TradingKey
Fri, Jun 26
Forex
Canadian Dollar rebounds as US PCE inflation data eases US rate hike bets
The USD/CAD pair declines to around 1.4190 during the early European trading hours on Friday. The US Dollar (USD) softens against the Canadian Dollar (CAD) as the US Personal Consumption Expenditures (PCE) Price Index inflation data eases US rate hike expectations.
Fxstreet
Fri, Jun 26
Forex
NZD/USD Price Forecast: New Zealand Dollar holds losses near 0.5650 amid bearish bias
NZD/USD continues its losing streak that began on June 17, trading around 0.5650 during the Asian hours on Friday. Technical analysis of the daily chart suggests the spot price is moving downwards within the descending channel, reflecting a persistent bearish bias.
Fxstreet
Fri, Jun 26
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