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Silver Price Forecast: XAG/USD tumbles to near $36.30 despite escalating Middle East tensions
Silver Price Forecast: XAG/USD tumbles to near $36.30 despite escalating Middle East tensions
Silver price (XAG/USD) is down almost 1% to near $36.25 during European trading hours on Thursday. The white metal faces a sharp selling pressure even though geopolitical tensions in the Middle East region have escalated after the United States (US) signaled that it is preparing to strike Iran.
Silver
XAGUSD
Fed
MiddleEast
SupportResistance
NZD/USD Price Forecast: Targets 0.5950 support near 50-day EMA
NZD/USD Price Forecast: Targets 0.5950 support near 50-day EMA
NZD/USD falls nearly 1% on Thursday, trading around 0.5970 during the early European hours on Thursday. The technical analysis of the daily chart suggests the emergence of a bearish bias, as the pair has broken below the lower boundary of the ascending channel pattern.
NZDUSD
Technical Analysis
Majors
GBP/JPY extends decline below 194.50 ahead of BoE rate decision
GBP/JPY extends decline below 194.50 ahead of BoE rate decision
The GBP/JPY cross extends its downside to near 194.45 during the early European trading hours on Thursday. The Pound Sterling (GBP) softens against the Japanese Yen (JPY) due to the looming threat of a broader conflict in the Middle East and possible US involvement.
Macroeconomics
GBPJPY
Crosses
BOE
What are the main events for today?
What are the main events for today?
The highlights include the SNB and BoE rate decisions, and the potential US strike against Iran
market overview
Eurostoxx futures -0.6% in early European trading
Eurostoxx futures -0.6% in early European trading
The struggling mood continues on the week
Crude Oil price today: WTI price bullish at European opening
Crude Oil price today: WTI price bullish at European opening
West Texas Intermediate (WTI) Oil price advances on Thursday, early in the European session. WTI trades at $73.52 per barrel, up from Wednesday’s close at $72.94.Brent Oil Exchange Rate (Brent crude) is also up, advancing from the $75.08 price posted on Wednesday, and trading at $75.51.
Oil
WTI
Commodities
Bullish
Breaking: The BoE matches consensus, leaves its interest rate unchanged
Breaking: The BoE matches consensus, leaves its interest rate unchanged
At its June meeting, the Bank of England (BoE) held its policy rate at 4.25%, as markets had anticipated.
Breaking
BOE
GBPUSD
UnitedKingdom
SEO
SNB poised to cut rates back to zero later today
SNB poised to cut rates back to zero later today
The Swiss central bank rate policy is set to follow the inflation path
EUR/JPY Price Forecast: Retains bullish bias above 166.00
EUR/JPY Price Forecast: Retains bullish bias above 166.00
The EUR/JPY cross attracts some sellers to near 166.35 during the early European trading hours on Thursday. The Japanese Yen (JPY) gathers strength against the Euro (EUR) as Middle East tensions dampen sentiment.
EURJPY
Crosses
Technical Analysis
Bullish
FX option expiries for Jun 19 NY cut
FX option expiries for Jun 19 NY cut
FX option expiries for Jun 19 NY cut at 10:00 Eastern Time vi a DTCC can be found below.
Currencies
Options
EUR/GBP hovers around 0.8550 as traders adopt caution ahead of BoE’s decision
EUR/GBP hovers around 0.8550 as traders adopt caution ahead of BoE’s decision
EUR/GBP extended its winning streak for the fourth consecutive day, trading near 0.8550 during the Asian hours on Thursday. The currency cross remains steady ahead of the Bank of England’s (BoE) interest rate decision scheduled later in the day.
EURGBP
Macroeconomics
Crosses
UnitedKingdom
Eurozone
USD/CAD Price Forecast: Recovers to near 20-day EMA
USD/CAD Price Forecast: Recovers to near 20-day EMA
The USD/CAD pair extends its two-day recovery move to near 1.3710 during Asian trading hours on Thursday. The Loonie pair attracts bids as the US Dollar (USD) gains further, while Middle East tensions have escalated amid the possibility of the United States (US) striking Iran, Bloomberg reported.
USDCAD
BOC
Fed
SupportResistance
MiddleEast
USD/CHF looks to build momentum beyond 0.8200 ahead of SNB rate decision
USD/CHF looks to build momentum beyond 0.8200 ahead of SNB rate decision
The USD/CHF pair builds on its recent recovery from the vicinity of mid-0.8000s, or a nearly two-month low touched last week, and scales higher for the fifth straight day on Thursday.
USDCHF
SNB
InterestRate
Fed
Currencies
USD/INR surges on rising crude oil prices amid Middle East war
USD/INR surges on rising crude oil prices amid Middle East war
The Indian Rupee (INR) posts a fresh two-month high near 86.95 against the US Dollar (USD) on Thursday.
USDINR
Macroeconomics
India
EmergingMarkets
SEO
EUR/USD extends downside to near 1.1450 ahead of ECB’s Lagarde speech
EUR/USD extends downside to near 1.1450 ahead of ECB’s Lagarde speech
The EUR/USD pair extends the decline to near 1.1465 during the Asian session on Thursday. The Euro (EUR) weakens against the Greenback amid the risk-off mood due to rising geopolitical tensions in the Middle East.
EURUSD
Majors
Macroeconomics
Fed
Reminder: It is a US holiday today
Reminder: It is a US holiday today
But the potential for US intervention in the Middle East continues to draw attention
market overview
GBP/USD holds losses near 1.3400 ahead of BoE’s policy decision
GBP/USD holds losses near 1.3400 ahead of BoE’s policy decision
GBP/USD remains subdued for the third consecutive session, trading around 1.3410 during the Asian hours on Thursday. The pair faces challenges as the US Dollar (USD) gains ground amid increased safe-haven demand, driven by escalating tensions between Israel and Iran.
GBPUSD
Macroeconomics
Majors
UnitedKingdom
BOE
Silver Price Forecast: XAG/USD flat lines around $36.75 area; bullish potential seems intact
Silver Price Forecast: XAG/USD flat lines around $36.75 area; bullish potential seems intact
Silver (XAG/USD) oscillates in a narrow range around the $36.75 area during the Asian session on Thursday and for now, seems to have stalled the previous day's modest pullback from its highest level since February 2012.
Silver
Commodities
XAGUSD
Technical Analysis
Bullish
Japan plans to cut super-long bond sales by 10% to alleviate market concerns - Reuters
Japan plans to cut super-long bond sales by 10% to alleviate market concerns - Reuters
The Japanese government plans to reduce sales of super-long bonds by about 10% from the initial plan in a rare revision to its bond programme for the current fiscal year, trimming overall bond issuance as a result, per Reuters.
Japan
Macroeconomics
BOJ
Gold price bounces off one-week low as risk-off impulse offsets USD strength
Gold price bounces off one-week low as risk-off impulse offsets USD strength
Gold price (XAU/USD) reverses an early European session dip to a one-week low and currently trades around the $3,366-3,367 area, nearly unchanged for the day amid mixed fundamental cues.
Gold
Commodities
RiskAversion
Fed
SEO
US Dollar Index moves above 99.00 due to Fed Rate hold, escalating Middle-East tensions
US Dollar Index moves above 99.00 due to Fed Rate hold, escalating Middle-East tensions
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its gains for the third successive session and trading higher at around 99.10 during the Asian hours on Thursday.
DollarIndex
Macroeconomics
Fed
UnitedStates
AUD/JPY softens to near 94.00 amid risk-off sentiment
AUD/JPY softens to near 94.00 amid risk-off sentiment
The AUD/JPY cross attracts some sellers to around 94.00 during the Asian trading hours on Friday. The Japanese Yen (JPY) strengthens against the Australian Dollar (AUD) amid the rising geopolitical tensions in the Middle East.
Macroeconomics
AUDJPY
Crosses
Construction of an EV battery plant in South Carolina halted, US policy uncertainty cited
Construction of an EV battery plant in South Carolina halted, US policy uncertainty cited
Automotive Energy Supply Corp (AESC) US$1.6 bn factory canned due to “economic uncertainty arising from current federal policy and tax issues.”
SPX
Nasdaq
Australian Dollar falls as US considers military action against Iran
Australian Dollar falls as US considers military action against Iran
The Australian Dollar (AUD) depreciated against the US Dollar (USD) on Thursday, retracing its recent gains registered in the previous session. The AUD/USD pair holds losses following the employment data release from Australia.
AUDUSD
Majors
Macroeconomics
Australia
SEO
Australia’s labour market shows resilience despite May job dip - recap
Australia’s labour market shows resilience despite May job dip - recap
Australian employment slipped slightly in May, with total jobs down 2,500 after a blockbuster 89,000 jobs were added the month before
Japanese Yen languishes near monthly low against firmer USD despite reviving safe-haven demand
Japanese Yen languishes near monthly low against firmer USD despite reviving safe-haven demand
The Japanese Yen (JPY) is seen underperforming on Thursday against a broadly firmer US Dollar (USD), with the USD/JPY pair eyeing the monthly swing high retested earlier this week.
USDJPY
RiskAversion
Fed
BOJ
Currencies
Israel issues evacuation warning near Iran’s Arak nuclear complex
Israel issues evacuation warning near Iran’s Arak nuclear complex
Evacuate all areas within a 2km radius from the Arak Heavy Water Reactor
Oil
Politics
US officials prepare for possible Iran strike in coming days – Bloomberg
US officials prepare for possible Iran strike in coming days – Bloomberg
Citing unnamed sources, Bloomberg reported early Thursday, “US officials prepare for possible Iran strike in coming days.”
UnitedStates
Politics
MiddleEast
RiskAversion
Iran
PBOC sets USD/CNY reference rate at 7.1729 vs. 7.1761 previous
PBOC sets USD/CNY reference rate at 7.1729 vs. 7.1761 previous
The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Thursday at 7.1729 as compared to the previous day's fix of 7.1761 and 7.1916 Reuters estimate.
USDCNY
PBOC
CentralBanks
Currencies
WTI drifts higher to near $73.00 on rising Israel-Iran tension
WTI drifts higher to near $73.00 on rising Israel-Iran tension
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $73.00 during the Asian trading hours on Thursday. The WTI price edges higher amid fears that the Israel-Iran crisis could spiral into a broader conflict involving the United States (US).
WTI
Oil
Commodities
Macroeconomics
US President Donald Trump privately approved attack plans for Iran pending final order - WSJ
US President Donald Trump privately approved attack plans for Iran pending final order - WSJ
US President Trump said late Tuesday that he approved of attack plans for Iran, but held it to see if Tehran would abandon its nuclear program, the Wall Street Journal cited individuals familiar with discussions on Trump and Iran. 
UnitedStates
Macroeconomics
Politics
MiddleEast
Israeli media reports the latest Iranian attack was intercepted by US air defense systems
Israeli media reports the latest Iranian attack was intercepted by US air defense systems
US support appears to be ramping up for Israel - how long until US bombs begin dropping on Iran?
Oil
Politics
NZD/USD trades with mild gains above 0.6000, New Zealand economy grows faster than expected in Q1
NZD/USD trades with mild gains above 0.6000, New Zealand economy grows faster than expected in Q1
The NZD/USD pair trades with mild gains near 0.6030 during the early Asian session on Thursday. The New Zealand Dollar (NZD) strengthens against the Greenback due to the stronger-than-expected New Zealand’s Gross Domestic Product (GDP) report.
NZDUSD
Majors
Macroeconomics
NewZealand
GDP