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USD firmer but off highs amid soft risk sentiment – Scotiabank
USD firmer but off highs amid soft risk sentiment – Scotiabank
The US Dollar (USD) has advanced in overnight trading, with markets trading with a distinct whiff of risk aversion amid reports that the US is planning for a possible strike on Iran in the coming days, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
DollarIndex
Banks
Fed
How have interest rates expectations changed after all the central bank decisions?
How have interest rates expectations changed after all the central bank decisions?
Just slight changes as the market continues to wait for more economic data and fresh macro developments for significant adjustments to expectations
market overview
USD/CAD remains close to 1.3730 highs amid fears of a wider Middle East conflict
USD/CAD remains close to 1.3730 highs amid fears of a wider Middle East conflict
The USD/CAD advances for the third consecutive day on Thursday and remains steady above 1.3700 at the moment of writing, after having tested the early June highs, near the 1.3730 area earlier today.The US Dollar is one of the strongest G8 performers on Thursday, as investors rush for safe assets, am
USDCAD
Fed
Currencies
MiddleEast
Gold Price Forecast: XAU/USD trades indecisively below $3,400, holds key 20-day EMA
Gold Price Forecast: XAU/USD trades indecisively below $3,400, holds key 20-day EMA
Gold price (XAU/USD) trades in a limited range below the round-level resistance of $3,400 during European trading hours on Thursday.
Gold
XAUUSD
Commodities
Fed
MiddleEast
NZD slips despite Q1 growth beat– BBH
NZD slips despite Q1 growth beat– BBH
NZD is underperforming across the board. Financing New Zealand’s large current account deficit (-5.7% of GDP in Q1) is more difficult during periods of global risk aversion when foreign capital flows tend to dry up, BBH FX analysts report.
NZDUSD
Banks
NewZealand
RBNZ
BOE policy decision coming up next, what to expect?
BOE policy decision coming up next, what to expect?
The central bank is expected to keep the bank rate unchanged at 4.25%
AUD/USD approaches three-week lows near 0.6450 as Middle East tensions escalate
AUD/USD approaches three-week lows near 0.6450 as Middle East tensions escalate
The risk-sensitive Australian Dollar is one of the worst performers on Thursday, with investors rushing for safety as the Israel-Iran conflict threatens to escalate into a global war, with the US jumping in.The AUD/USD depreciates 0.6% so far today, giving away Wednesday’s gains, as and approaches t
AUDUSD
Majors
Currencies
AUD/USD slips after weak jobs data – BBH
AUD/USD slips after weak jobs data – BBH
AUD/USD is down near the lower-end of this month’s 0.6440-0.6550 range. Australia’s May labor force report was soft, BBH FX analysts report.
AUDUSD
Banks
RBA
USD/CNH: Likely to trade in a range between 7.1830 and 7.2030 – UOB Group
USD/CNH: Likely to trade in a range between 7.1830 and 7.2030 – UOB Group
US Dollar (USD) is likely to trade in a range between 7.1830 and 7.2030 against Chinese Yuan (CNH). In the longer run, USD has likely moved into a 7.1620/7.2200 range trading phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Banks
Technical Analysis
USDCNH
GBP/USD pressured ahead of BOE – BBH
GBP/USD pressured ahead of BOE – BBH
GBP/USD is trading heavy near key support at 1.3400. Bank of England is widely expected to keep rates steady at 4.25% (12:00pm London), BBH FX analysts report.
Banks
GBPUSD
BOE
Currencies
USD/JPY: Likely to trade between 144.40 and 145.50 – UOB Group
USD/JPY: Likely to trade between 144.40 and 145.50 – UOB Group
US Dollar (USD) is likely to trade between 144.40 and 145.50 against Japanese Yen (JPY). In the longer run, there has been a tentative buildup in momentum; for a sustained advance, USD must first break and hold above 145.50, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
USDJPY
Technical Analysis
Banks
 USD/JPY Price Forecast: Bulls are testing 145.35, aiming for higher levels
 USD/JPY Price Forecast: Bulls are testing 145.35, aiming for higher levels
The US Dollar is faring better than the Japanese Yen in the current risk-averse scenario, with geopolitical concerns driving markets, which keeps the USD/JPY trending higher, with bulls testing resistance at the 145.35 level.Investors' fears of an escalation of the Middle East conflict have been boo
USDJPY
Currencies
Technical Analysis
BOJ
Levels
ECB's Nagel: We're on the right track when it comes to monetary policy
ECB's Nagel: We're on the right track when it comes to monetary policy
European Central Bank (ECB) policymaker and Bundesbank President Joachim Nagel said on Thursday, “we're on the right track when it comes to monetary policy.”
ECB
CentralBanks
EURUSD
InterestRate
NZD/USD: Likely to trade in a range between 0.5980 and 0.6080 – UOB Group
NZD/USD: Likely to trade in a range between 0.5980 and 0.6080 – UOB Group
New Zealand Dollar (NZD) is likely to trade in a sideways range of 0.6000/0.6045 against US Dollar (USD). In the longer run, NZD is expected to trade in a range between 0.5980 and 0.6080, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
NZDUSD
Technical Analysis
Banks
TRY: Despite the upcoming restart of the cutting cycle, fat carry remains – ING
TRY: Despite the upcoming restart of the cutting cycle, fat carry remains – ING
We expect the Central Bank of Turkey to leave rates unchanged today at 46% in line with market expectations, ING's FX analyst Frantisek Taborsky notes.
USDTRY
Banks
Turkey
CBRT
Dow Jones futures slump on Middle East conflicts, upside US inflation risks
Dow Jones futures slump on Middle East conflicts, upside US inflation risks
Dow Jones futures trade lower during European trading hours on Thursday as fears of the United States' (US) entry in the aerial war between Israel and Iran has diminished demand for risk-perceived assets.
Equities
SP500
UnitedStates
DollarIndex
MiddleEast
USD/CHF bounce faces 0.8350 test – Société Générale
USD/CHF bounce faces 0.8350 test – Société Générale
USD/CHF is attempting a modest rebound from 0.8030, but remains below key resistance at 0.8350, keeping the broader downtrend intact, Société Générale's FX analysts note.
Technical Analysis
USDCHF
Banks
Silver price today: Silver falls, according to FXStreet data
Silver price today: Silver falls, according to FXStreet data
Silver prices (XAG/USD) fell on Thursday, according to FXStreet data.
Silver
Commodities
Metals
USD: Still upside risks – ING
USD: Still upside risks – ING
The two major US macro events yesterday (the FOMC and TIC data) left very few marks on FX. Markets are understandably attaching limited value to dot plot projections given the high uncertainty of the tariff impact and recent oil volatility.
DollarIndex
Banks
Technical Analysis
Fed
AUD/JPY Price Forecast: Finds initial support at 94.00, aligns with nine-day EMA
AUD/JPY Price Forecast: Finds initial support at 94.00, aligns with nine-day EMA
AUD/JPY retraces its recent gains registered in the previous day, trading around 94.10 during the European hours on Thursday. As per the technical analysis of the daily chart, the currency cross moves upwards within an ascending channel pattern, indicating a bullish bias.
AUDJPY
Crosses
Technical Analysis
AUD/USD: Enters in a range-trading phase between 0.6430 and 0.6550 – UOB Group
AUD/USD: Enters in a range-trading phase between 0.6430 and 0.6550 – UOB Group
Non-directional price movements for now; AUD is likely to trade between 0.6475 and 0.6540. In the longer run, AUD appears to have moved into a range-trading phase between 0.6430 and 0.6550, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
AUDUSD
Technical Analysis
Banks
DXY: Geopolitical concerns overshadow Fed – OCBC
DXY: Geopolitical concerns overshadow Fed – OCBC
In the FX space, geopolitical concerns appear to have overshadowed the FOMC outcome. Last at 99 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Banks
DollarIndex
Technical Analysis
EU weighs UK-style trade deal with US
EU weighs UK-style trade deal with US
The Financial Times reports on the matter
ECB's Villeroy: Need to remain alert and agile in next meetings
ECB's Villeroy: Need to remain alert and agile in next meetings
European Central Bank (ECB) policymaker Francois Villeroy de Galhau said on Thursday that need to remain alert and agile in all of their next meetings, per Reuters.
CentralBanks
ECB
US Dollar Index (DXY) crawls beyond 98.00 supported by risk aversion
US Dollar Index (DXY) crawls beyond 98.00 supported by risk aversion
The Dollar has recovered its safe-haven status amid fears that the Middle East conflict escalates into a regional war with the US intervention.
DollarIndex
Fed
Currencies
GBP/USD: Can ease towards 1.3375 – UOB Group
GBP/USD: Can ease towards 1.3375 – UOB Group
Pound Sterling (GBP) could ease to 1.3375 against US Dollar (USD); any further decline is unlikely to reach the major support at 1.3335.
GBPUSD
Banks
Technical Analysis
EUR: Lots of central bank activity in Europe today – ING
EUR: Lots of central bank activity in Europe today – ING
EUR/USD can probably correct a bit further from here on geopolitical risks, and the near-term target is 1.140, and explorations below that level can be justified even without new big spikes in oil prices.
EURUSD
Banks
Technical Analysis
CentralBanks
USD/CAD holds gains above 1.3700 due to escalating Israel-Iran conflict
USD/CAD holds gains above 1.3700 due to escalating Israel-Iran conflict
USD/CAD continues to gain ground for the third consecutive day, trading around 1.3710 during the European hours on Thursday. The pair gains ground as the US Dollar (USD) draws upward support from increased safe-haven demand, driven by escalating geopolitical tensions in the Middle East.
USDCAD
Macroeconomics
Majors
Canada
Oil
EUR/USD: A double top bearish reversal? – OCBC
EUR/USD: A double top bearish reversal? – OCBC
Euro (EUR) extended its move lower over the past few sessions as geopolitical escalation unnerved sentiments. Pair was last at 1.1450 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
EURUSD
Technical Analysis
Banks
EUR/USD: Can edge lower and potentially test the 1.1440 level  – UOB Group
EUR/USD: Can edge lower and potentially test the 1.1440 level – UOB Group
There has been a slight increase in downward momentum; Euro (EUR) could edge lower and potentially test the 1.1440 level. EUR is likely to trade in a range for now, probably between 1.1400 and 1.1570, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
EURUSD
Technical Analysis
Banks
EUR/USD trims losses with upside attempts limited on risk aversion
EUR/USD trims losses with upside attempts limited on risk aversion
The EUR/USD pair has bounced up from weekly lows at 1.1445 on Thursday and is posting marginal gains daily, as the pair trades at 1.1485 at the moment of writing.
EURUSD
Majors
Macroeconomics
SEO
SNB’s Tschudin: Economic situation for Switzerland has become considerably more uncertain
SNB’s Tschudin: Economic situation for Switzerland has become considerably more uncertain
Swiss National Bank (SNB) governing board member Petra Tschudin is addressing the post-policy meeting press conference, explaining the decision behind the 25 basis points (bps) interest rate cut to 0%.
Switzerland
SNB
CentralBanks
InterestRate
USDCHF
SNB's Martin: Interest rate environment in Switzerland has started to weigh on banks' profitability
SNB's Martin: Interest rate environment in Switzerland has started to weigh on banks' profitability
Swiss National Bank (SNB) Vice Chairman Antoine Martin is speaking at the post-policy meeting press conference, explaining the decision behind the 25 basis points (bps) interest rate cut to 0%.
Switzerland
SNB
CentralBanks
InterestRate
USDCHF
SNB's Schlegel: With today's cut we are countering lower inflationary pressure
SNB's Schlegel: With today's cut we are countering lower inflationary pressure
Swiss National Bank (SNB) Chairman Martin Schlegel is addressing the post-meeting press conference, explaining the decision behind the 25 basis points (bps) interest rate cut to 0%.
Switzerland
SNB
CentralBanks
InterestRate
USDCHF
EUR/CHF pulls back below 0.9400 despite the SNB's rate cut
EUR/CHF pulls back below 0.9400 despite the SNB's rate cut
Buy the rumour, sell the fact for the EUR/CHF on Wednesday, as the pair has reacted lower to the Swiss National Bank’s decision to cut its benchmark rate by 25 basis points, to 0% after its monetary policy meeting.The EUR/CHF has pulled back from the 0.9420 area to levels right below the 0.9400 leve
EURCHF
SNB
Currencies
USD/CHF steadies around 0.8200 after SNB announces a quarter basis point rate cut
USD/CHF steadies around 0.8200 after SNB announces a quarter basis point rate cut
USD/CHF continues its winning streak for the fifth consecutive session, trading around 0.8200 during the European hours on Thursday. The pair holds gains following the release of the interest rate decision by the Swiss National Bank (SNB).
USDCHF
Macroeconomics
Switzerland
Majors
SNB
Lagarde speech: Greater regional trade can offset global losses
Lagarde speech: Greater regional trade can offset global losses
European Central Bank (ECB) President Christine Lagarde is delivering a keynote address at the 9th Annual Research Conference, titled Economic and Financial Integration in a Stormy and Fragmenting World, on Thursday.
ECB
CentralBanks
InterestRate
EURUSD
Inflation