Author: FX
Trump allies defend him to Israelis anxious over Iran deal Source link
Canada’s inflation rose to 3.2% in May 2026, beating the 3.0% forecast — but gasoline’s 33.2% surge drove most of the gain while core stayed near target. Source link
If you didn’t buy SpaceX shares in the first minutes of trading after the IPO, then you’re probably under water.Shares are having a rough day today as the hype machine dies down. It’s lower by 10.5% to $165.64 and the decline comes after the company filed to sell senior unsecured notes for at least $20 billion. The shares — like the IPO sale — is going to be used to pay back a bridge loan and for ‘general corporate purposes’, which is boilerplate language.The thing is, the company hasn’t generated any growth capital in all the fundraising. That doesn’t point…
Royal Bank of Canada (RBC) economist Abbey Xu notes that Canadian inflation rose to 3.2% year-over-year in May, mainly due to higher energy prices, airfares and food costs. She highlights that core inflation measures remain close to the Bank of Canada’s (BoC) 2% target, with Consumer Price Index (CPI) excluding food and energy at 1.6%, indicating subdued underlying price pressures.Energy-led rise in headline inflation”Canadian inflation accelerated to 3.2% year-over-year in May from 2.8% in April, slightly higher than our pre-release expectation and driven largely by higher energy prices.””Measures of core inflation remained close to the Bank of Canada’s 2% target…
FUNDAMENTAL OVERVIEWGold maintains the bearish bias following the hawkish Fed dot plot last week as the central bank’s tightening bias led to a rise in real yields and a stronger US dollar. As a reminder, the Fed delivered a hawkish surprise by projecting a rate hike this year (the consensus was for no cuts or hikes). The market increased rate hike bets with now 41 bps of tightening priced in by year-end. There’s a 36% chance of a hike already in July and 74% probability of a move in September.The economic data and financial markets will now guide the Fed…
Gold (XAU/USD) maintains its bid tone near the $4,200 mark through the first half of the European session on Monday and, for now, seems to have snapped a three-day losing streak, to a more than one-week low set the previous day. Crude Oil prices turn lower after mediators – Qatar and Pakistan – announced a formal 60-day roadmap aimed at securing a final US-Iran peace deal. This helps ease concerns around inflation and higher interest rates, offering some support to the precious metal.That said, traders are still pricing in a nearly 90% chance that the US Federal Reserve (Fed) will…
GBP/CAD is pressing against a 1.8800 range ceiling it has failed to break through for nearly a year! Can the bulls finally punch through this time, or will today’s fundamental backdrop send this pair back toward the range floor? Check out the weekly time frame: GBP/CAD Weekly Forex Chart Faster with TradingView Sterling starts the week with a political storm brewing, as U.K. Prime Minister Starmer faces growing pressure to lay out a leadership departure timeline after rival Andy Burnham’s decisive Makerfield by-election win over the weekend. Over in Canada, today’s May CPI is expected to tick up toward 3.0%…
Session wrap — bullet summaryStrait of Hormuz traffic collapsed to five vessels on Sunday after Iran announced a closure, down from 26 the previous day, before news flow improved as US-Iran talks in Switzerland continued despite an Iranian delegation walkoutQatar and Pakistan, as mediators at the Lake Lucerne summit, said encouraging progress was made across 18 hours of negotiations; the US and Iran agreed a 60-day roadmap to a final deal, a High Level Committee for political oversight, and working groups on nuclear, sanctions, and dispute resolutionA communication line on Hormuz was established to ensure safe commercial passage for as…
Oil fell roughly 10% last week as markets were mainly focused on diplomatic progress, but the US-Iran agreement that drove that selloff is now fragile again, with the Strait of Hormuz re-closed and talks still underway in Switzerland. The question for this week is whether the peace process holds or cracks. Which direction could crude oil take as it tests these key levels? Source link
The GBP/USD pair climbs back to the 1.3235 region during the Asian session and fails the weekly bearish gap opening amid a modest US Dollar (USD) downtick, though the upside potential seems limited.Mediators Qatar and Pakistan announced a formal 60-day roadmap aimed at securing a final US-Iran peace deal, which, in turn, keeps a lid on the safe-haven buck and prompts some intraday short-covering around the GBP/USD pair. However, geopolitical developments over the weekend, along with the US Federal Reserve’s (Fed) hawkish tilt, could act as a tailwind for the Greenback.Iran closed the Strait of Hormuz again on Saturday in…