"Long gold" remains the most crowded trade for the third month in a row
"Long gold" remains the most crowded trade for the third month in a row
The latest findings from the Bank of America Global Fund Manager Survey
market overview
Fed's Powell: Policy remains modestly restrictive
Fed's Powell: Policy remains modestly restrictive
Federal Reserve Chairman Jerome Powell explained the decision to leave the policy rate unchanged at the 4.25%–4.50% range following the June meeting and responded to questions during the post-meeting press conference.
Fed
CentralBanks
InterestRate
SEO
USD/CHF: Dovish cut can lend momentum – OCBC
USD/CHF: Dovish cut can lend momentum – OCBC
Swiss National Bank's Monetary Policy Committee (MPC) meeting takes place tomorrow. Markets have fully priced in a 25bp cut to bring the policy rate down to zero. Pair was last at 0.8178 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
USDCHF
Technical Analysis
Banks
AUD/USD is struggling to regain the 0.6500 level with risk appetite subdued
AUD/USD is struggling to regain the 0.6500 level with risk appetite subdued
The Australian Dollar is paring some of Tuesday’s losses, favoured by a mildly weaker US Dollar on Wednesday.
AUDUSD
Currencies
Majors
Qatar pauses LNG shipments at Strait of Hormuz – ING
Qatar pauses LNG shipments at Strait of Hormuz – ING
Tensions in the Middle East continued to disrupt energy logistics as Qatar instructed LNG vessels to delay entering the Strait of Hormuz, ING's commodity experts Ewa Manthey and Warren Patterson note.
Banks
Energy
Gas
Metals
DXY: FOMC tonight – OCBC
DXY: FOMC tonight – OCBC
US Dollar (USD) rebounded as markets grapple a challenging environment of higher oil prices and falling equities amid ongoing geopolitical uncertainties. DXY was last at 98.64, OCBC's FX analysts Frances Cheung and Christopher Wong note.
DollarIndex
Banks
Fed
Technical Analysis
Silver price today: Silver rises, according to FXStreet data
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data.
Silver
Commodities
Metals
Dollar keeps a touch lower so far in European morning trade
Dollar keeps a touch lower so far in European morning trade
Not a whole lot in it as risk appetite holds up for the time being
market overview
Former Iran Economy Minister calls for control over the Strait of Hormuz for 100 days
Former Iran Economy Minister calls for control over the Strait of Hormuz for 100 days
The former Minisiter posted on X his opinion but it could also be a plan under consideration by Iran's government
Oil near five-month high – ING
Oil near five-month high – ING
The oil market remains on edge with the conflict between Israel and Iran entering its sixth day, ING's commodity experts Ewa Manthey and Warren Patterson note.
Oil
Banks
Commodities
Energy
WTI
GBP: Inflation adds to dovish BoE arguments – ING
GBP: Inflation adds to dovish BoE arguments – ING
The UK has just released CPI figures for May. While the headline reading slowed a tad less than expected to 3.4%, and core was in line with consensus at 3.5%, the closely-monitored services CPI came in a bit below expectations at 4.7% (expected 4.8%), ING's FX analyst Francesco Pesole notes.
Banks
Technical Analysis
EURGBP
NZD/USD Price Forecast: Tests ascending channel’s lower boundary near 0.6000
NZD/USD Price Forecast: Tests ascending channel’s lower boundary near 0.6000
NZD/USD is retracing its recent losses, trading around 0.6030 during the European hours on Wednesday. The technical analysis of the daily chart suggests the potential for weakening bullish bias, as the pair tests the lower boundary of the ascending channel pattern.
NZDUSD
Technical Analysis
Majors
ECB’s Panetta: Not pre-committing to a defined course on monetary policy
ECB’s Panetta: Not pre-committing to a defined course on monetary policy
European Central Bank (ECB) executive board member Fabio Panetta said on Friday, “the ECB is not pre-committing to a defined course on monetary policy.”
ECB
EURUSD
CentralBanks
InterestRate
Eurozone May final CPI +1.9% vs +1.9% y/y prelim
Eurozone May final CPI +1.9% vs +1.9% y/y prelim
Latest data released by Eurostat - 18 June 2025
AUD/JPY rises above 94.00 despite increased risk aversion
AUD/JPY rises above 94.00 despite increased risk aversion
AUD/JPY holds gains after registering nearly 0.50% losses in the previous session, trading around 94.20 during the European hours on Wednesday. However, the upside of the currency cross could be limited due to heightened safe-haven demand, driven by escalating Middle East tensions.
AUDJPY
Australia
Macroeconomics
Crosses
Japan
The threat of an Oil price shock – Standard Chartered
The threat of an Oil price shock – Standard Chartered
Oil price increases have a greater impact on the global economy than Oil price declines. The main impact is felt via an immediate rise in headline inflation. Transport shares, net fuel imports, public debt/GDP and trade integration are key factors to watch.
Banks
Oil
Brent
Energy
OPEC
ECB's Panetta: Will keep a flexible approach to monetary policy decisions
ECB's Panetta: Will keep a flexible approach to monetary policy decisions
European Central Bank (ECB) Governing Council member Fabio Panetta said on Wednesday that the ECB will keep a flexible approach to monetary policy decisions amid heightened risks due to the Israel-Iran conflict.
ECB
CentralBanks
Macroeconomics
USD/CAD holds gains ahead of the Fed, with downside attempts limited at 1.3650
USD/CAD holds gains ahead of the Fed, with downside attempts limited at 1.3650
The USD/CAD is trimming some gains on Wednesday, with investors reducing USD long positions ahead of the Federal Reserve’s monetary policy meeting, due later today.
USDCAD
Currencies
Majors
Fed
What is expected for the FOMC decision?
What is expected for the FOMC decision?
There's strong consensus that the Fed will keep rates steady and reaffirm a wait-and-see stance as they gather more information on the impact of government policies and economic developments
market overview
GBP/JPY softens to near 195.00 ahead of BoE rate decision
GBP/JPY softens to near 195.00 ahead of BoE rate decision
The GBP/JPY cross trades in negative territory near 195.05 during the early European trading hours on Wednesday. The cautious mood in the market provides some support to the Japanese Yen (JPY), a safe-haven currency.
GBPJPY
Macroeconomics
Crosses
BOE
Forex Today: Attention shifts away from geopolitics to Fed
Forex Today: Attention shifts away from geopolitics to Fed
Here is what you need to know on Wednesday, June 18:
Majors
Macroeconomics
Currencies
Commodities
EconomicIndicator
EUR/USD rebound loses momentum with markets bracing for the Fed's decision
EUR/USD rebound loses momentum with markets bracing for the Fed's decision
The EUR/USD pair is showing minor gains on Wednesday following a significant decline on the previous day.
EURUSD
Fed
Currencies
SEO
EUR/GBP holds gains around 0.8550 following UK CPI inflation data
EUR/GBP holds gains around 0.8550 following UK CPI inflation data
EUR/GBP extends its gains for the third consecutive day, trading around 0.8560 during the early European hours on Wednesday.
Macroeconomics
EURGBP
Crosses
UnitedKingdom
Eurozone
Silver Price Forecast: XAG/USD breaks above $36.90, confirms a Bullish Flag
Silver Price Forecast: XAG/USD breaks above $36.90, confirms a Bullish Flag
Silver (XAG/USD) broke above the top of a descending channel from early-June highs, favoured by higher safe-haven demand on risk-off markets, and has confirmed a bullish flag.
XAGUSD
Silver
Commodities
Bullish
US Dollar Index Price Forecast: Keep a bearish vibe, crucial support level emerges near 98.00
US Dollar Index Price Forecast: Keep a bearish vibe, crucial support level emerges near 98.00
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, attracts some sellers to around 98.55 during the early European trading hours on Wednesday.
Technical Analysis
DollarIndex
Majors
European indices hold lightly changed at the open today
European indices hold lightly changed at the open today
A bit of caution as we await further developments in the Middle East
Stocks
GBP/USD holds positive ground above 1.3450 after UK CPI data, Fed rate decision eyed
GBP/USD holds positive ground above 1.3450 after UK CPI data, Fed rate decision eyed
The GBP/USD pair strengthens near 1.3460 during the early European trading hours on Wednesday. The Pound Sterling (GBP) remains firm against the Greenback after the UK Consumer Price Index (CPI) inflation report.
Majors
GBPUSD
Macroeconomics
Fed
What are the main events for today?
What are the main events for today?
The highlights include the US Jobless Claims figures, the FOMC decision and the potential US attack against Iran
market overview
Eurostoxx futures -0.2% in early European trading
Eurostoxx futures -0.2% in early European trading
A more tentative tone after the drop yesterday
Stocks
Crude oil price today: WTI price bearish at European opening
Crude oil price today: WTI price bearish at European opening
West Texas Intermediate (WTI) Oil price falls on Wednesday, early in the European session. WTI trades at $73.01 per barrel, down from Tuesday’s close at $73.66.Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $75.15 after its previous daily close at $75.70.
Oil
WTI
Commodities
Breaking: UK CPI inflation ticks down to 3.4% YoY in May as expected
Breaking: UK CPI inflation ticks down to 3.4% YoY in May as expected
The United Kingdom (UK) annual headline Consumer Price Index (CPI) increased by 3.4% in May after rising 3.5% in April, the data released by the Office for National Statistics (ONS) showed on Wednesday. 
Breaking
Inflation
UnitedKingdom
EconomicIndicator
GBPUSD
UK May CPI +3.4% vs +3.4% y/y expected
UK May CPI +3.4% vs +3.4% y/y expected
Latest data released by ONS - 18 June 2025
USD/CHF softens to near 0.8150 ahead of Fed rate decision
USD/CHF softens to near 0.8150 ahead of Fed rate decision
The USD/CHF pair weakens to near 0.8160, snapping the three-day winning streak during the early European trading hours on Wednesday. The persistent geopolitical tensions in the Middle East lift the safe-haven currency like the Swiss Franc (CHF).
USDCHF
Majors
Macroeconomics
WTI holds losses around $73.00, downside seems limited due to increased supply concerns
WTI holds losses around $73.00, downside seems limited due to increased supply concerns
West Texas Intermediate (WTI) Oil price retraces its recent gains registered in the previous session, trading around $73.00 during the Asian hours on Wednesday.
Oil
WTI
Macroeconomics
Commodities
NZD/USD climbs to 0.6035 area as USD edges lower ahead of Fed rate decision
NZD/USD climbs to 0.6035 area as USD edges lower ahead of Fed rate decision
The NZD/USD pair attracts some dip-buying near the 0.6000 psychological mark during the Asian session on Wednesday and reverses a part of the previous day's retracement slide from the vicinity of the year-to-date peak.
NZDUSD
Fed
RBNZ
TradeWar
Currencies
EUR/JPY Price Forecast: Bullish outlook remains in play above 166.50
EUR/JPY Price Forecast: Bullish outlook remains in play above 166.50
The EUR/JPY cross posts modest gains near 166.80 during the early European session on Wednesday. Reduced bets for a Bank of Japan (BoJ) rate hike undermine the Japanese Yen (JPY) and act as a tailwind for the cross. 
EURJPY
Crosses
Technical Analysis
Bullish
UK inflation on the agenda today
UK inflation on the agenda today
Inflation pressures are expected to ease a little but it won't take away from the big jump in April
FX option expiries for Jun 18 NY cut
FX option expiries for Jun 18 NY cut
FX option expiries for Jun 18 NY cut at 10:00 Eastern Time vi a DTCC can be found below.
Currencies
Options