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US May housing starts 1.256m vs 1.357m expected
US May housing starts 1.256m vs 1.357m expected
US May 2025 housing starts and building permits data
WTI Oil price holds gains near $74.00, boosted by rising geopolitical risks
WTI Oil price holds gains near $74.00, boosted by rising geopolitical risks
Verbal escalation between US President Donald Trump and Iranian officials has boosted fears of a wider regional war in the Middle East, with the involvement of the US, which is underpinning Crude Oil prices near four-month highs.
Oil
WTI
Energy
Fundamental Analysis
ForexLive European FX news wrap: Dollar lightly lower as risk remains cautious
ForexLive European FX news wrap: Dollar lightly lower as risk remains cautious
Forex news from the European morning session on Jun 18, 2025
Session wrap
Wrap Europe
USD/INR holds steady near recent highs as Fed stays cautious, Middle East tensions persist
USD/INR holds steady near recent highs as Fed stays cautious, Middle East tensions persist
The Indian Rupee (INR) remains on the back foot against the United States Dollar (USD) on Wednesday, marking its second consecutive day of weakness despite a relatively subdued Greenback.
USDINR
Fundamental Analysis
Technical Analysis
JPY is a relative outperformer on trade data surprise – Scotiabank
JPY is a relative outperformer on trade data surprise – Scotiabank
The Japanese Yen (JPY) is entering Wednesday’s NA session with a 0.3% gain, outperforming nearly all of the G10 currencies in an environment of mild USD weakness, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
USDJPY
Banks
Japan
CPI
UK says expect tariffs agreement with US on autos to come into force by end of the month
UK says expect tariffs agreement with US on autos to come into force by end of the month
That means 10% tariffs instead of the supposedly proposed 25% tariffs from before
GBP outperforming most G10 currencies – Scotiabank
GBP outperforming most G10 currencies – Scotiabank
Pound Sterling (GBP) is a relative outperformer as we head into Wednesday’s NA session, up nearly 0.3% vs. the US Dollar (USD) with a notable pop in response to the stronger than expected CPI release for the month of May.
GBPUSD
Banks
BOE
Technical Analysis
ECB's Centeno: Very worried about growth in Europe
ECB's Centeno: Very worried about growth in Europe
European Central Bank (ECB) Governing Council member Mario Centeno said on Wednesday that he is very worried about the European economy's growth prospects and argued that inflation will not be at 2% without growth.
ECB
CentralBanks
EUR is a midperformer – Scotiabank
EUR is a midperformer – Scotiabank
Euro (EUR) is up a modest 0.2% vs. the US Dollar (USD) and a relative performer among the G10 in an environment of mild USD weakness.
Banks
EURUSD
CPI
ECB
Inflation
CAD little changed on the day – Scotiabank
CAD little changed on the day – Scotiabank
The Canadian Dollar (CAD) is little changed on the session after reversing losses through the upper 1.36s in thin trade just ahead of the Asian open earlier, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
USDCAD
Banks
BOC
Canada
GBP/USD recovery stalls above 1.3450 with all eyes on the Fed
GBP/USD recovery stalls above 1.3450 with all eyes on the Fed
British Pound’s recovery attempts from Tuesday’s lows near 1.3400 have stalled about 50 pips higher on Wednesday’s European session. Investors are wary of placing US Dollar's directional bets ahead of the ªFederal Reserve’s monetary policy decision.
GBPUSD
Currencies
Fed
Majors
FOMC meeting: Probably only exciting in case of a declaration of war – Commerzbank
FOMC meeting: Probably only exciting in case of a declaration of war – Commerzbank
At least as far as the key interest rate is concerned, today's FOMC meeting is unlikely to be particularly exciting, as it is widely expected that the Fed will leave the interest rate corridor unchanged at 4.25-4.50%.
Banks
Fed
InterestRate
Technical Analysis
US MBA mortgage applications w.e. 13 June -2.6% vs +12.5% prior
US MBA mortgage applications w.e. 13 June -2.6% vs +12.5% prior
Latest data from the Mortgage Bankers Association for the week ending 13 June 2025
FOMC Preview: It’s the data, not the sentiment – ABN AMRO
FOMC Preview: It’s the data, not the sentiment – ABN AMRO
Markets expect the Fed to keep rates on hold today. Recent data has surprised in a dovish direction, but projections and the dot plot will shift more hawkish.
Fed
Banks
CentralBanks
InterestRate
DollarIndex
Riksbank cuts 25bp – ING
Riksbank cuts 25bp – ING
Sweden’s Riksbank delivers a 25bp rate cut, likely marking the end of its easing cycle, ING's FX analyst Francesco Pesole notes.
Banks
EURSEK
Riksbank
EUR: Buying the dips remains a clear risk – ING
EUR: Buying the dips remains a clear risk – ING
Geopolitical events are causing a temporary dislocation from macro-driven price action in EUR/USD, ING's FX analyst Francesco Pesole notes.
Banks
EURUSD
Technical Analysis
ECB
USD: Oil to outshine FOMC – ING
USD: Oil to outshine FOMC – ING
The combination of rising geopolitical risk and oil prices has temporarily re-established some safe-haven appeal for the dollar.
Banks
DollarIndex
Technical Analysis
Fed
Iran's Supreme Leader Khamenei: Israel made a huge mistake and will be punished for that
Iran's Supreme Leader Khamenei: Israel made a huge mistake and will be punished for that
Televised address to the nation from the Iran's Supreme Leader - Mehr News
Iron ore sinks – ING
Iron ore sinks – ING
Iron ore prices sank below $93/t as demand continues to slow down in China. Demand from China is likely to remain weak amid the continued slowdown in China’s property market.
Metals
Commodities
Banks
China
Copper
USD/CHF extends gains, nearing 0.8200 with all eyes on the Federal Reserve   
USD/CHF extends gains, nearing 0.8200 with all eyes on the Federal Reserve   
The US Dollar is heading higher for the fourth consecutive day on Wednesday.
USDCHF
Currencies
GBP: Lower inflation again, but no change in interest rates – Commerzbank
GBP: Lower inflation again, but no change in interest rates – Commerzbank
Inflation in the United Kingdom was higher than expected in April. One reason for this was the sharp increase in travel prices, which pushed up both the core and headline rate, Commerzbank's FX analyst Michael Pfister notes.
GBPUSD
Banks
Technical Analysis
BOE
Change
"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