Author: FX

Brown Brothers Harriman’s Elias Haddad highlights strong South Korean asset performance, with South Korean Won (KRW) outperforming and the KOSPI up sharply on AI-led semiconductor strength. The Bank of Korea’s (BoK) Governor Shin Hyun Song delivered hawkish guidance, emphasizing the need to prioritize price stability. BBH notes that a 25 bps hike to 2.75% at the July 16 meeting is increasingly likely.Won benefits from hawkish policy stance”KRW outperformed most currencies overnight and the KOSPI jumped as much as 8.5% before settling 4.6% higher. Year-to-date, the KOSPI is the world’s best performing equity market, up a whopping 92%, driven by the…

USD/CAD trades on the front foot on Friday as lower Oil prices weigh on the commodity-linked Canadian Dollar (CAD) amid cautious optimism that the United States (US) and Iran could reach an agreement that would reopen the Strait of Hormuz.At the time of writing, the pair trades around 1.3979 after touching 1.4024 on Thursday, its highest level since November 2025. Meanwhile, West Texas Intermediate (WTI) Crude Oil trades near $83.50 per barrel, near two-month lows.The Canadian Dollar has remained under steady pressure since early May as geopolitical tensions keep safe-haven flows directed toward the US Dollar (USD). In addition, the…

Scotiabank strategists Shaun Osborne and Eric Theoret report USD/JPY is steady but elevated, with recent gains already surpassing prior intervention-trigger levels. A 25 bps Bank of Japan (BoJ) hike on Tuesday is widely anticipated, and markets price nearly one more increase by December. They flag concerns over communication as Governor Ueda will not attend, and see limited resistance up to 162 with support in the 156–158 band.Limited resistance seen toward 162″The yen’s ongoing weakness is a worry for market participants, government officials, and central bank policymakers, sparking concerns of intervention in the former as the latter consider the implications for…

Iranian foreign minister Seyed Abbas Araghchi earlier wrote:The Islamabad Memorandum of Understanding has never been closer. Pending its finalization, the media should refrain from entering speculation about its content. In line with our responsible and transparent approach, all details will be shared with the public in due course.Trump was earlier ticked off about a leak of the terms of the deal that he said was fake. He seems to be happy that Araghchi walked it back.Axios also reports that Trump said that Iran secretly apologized regarding the dissemination of false news about the agreement and that he still thinks a…

The USDCAD has been on its own moon mission since early May, rallying from 1.3549 to a new 2026 high of 1.4023 reached yesterday. While there have been periodic pullbacks along the way, the broader uptrend has remained firmly intact. A key reason is that the pair has spent most of the rally above its 200-hour moving average, with only brief dips below the 100-hour moving average. The 200-hour MA has consistently acted as a reliable trend guide, helping to define and sustain the bullish bias.After reaching the 1.4023 high yesterday, the pair corrected lower and tested a confluence of…

Scotiabank strategists Shaun Osborne and Eric Theoret note that the British Pound (GBP) is consolidating recent gains around 1.3400, with domestic risk elevated ahead of next week’s CPI, labour data and the Bank of England decision. Markets expect a hold but price about 35 bps of tightening by year-end. Technically, GBP/USD is recovering, supported in the low 1.33s and capped near the 50-day moving average around 1.3469.BoE guidance and politics keep risks elevated”The pound is also quietly consolidating Thursday’s sentimentdriven gains and trading within a relatively tight range around 1.3400, entering Friday’s NA session flat to the USD with a…

Headlines:Markets:WTI crude down 3.5% to $84.60US dollar little changed, keeps steadierEquities stay optimistic, European indices trade over 1% higherS&P 500 futures up 0.5%, Nasdaq futures up 0.5% with eyes on SpaceX debutUS 10-year yields down 0.2 bps to 4.46%Gold down 0.2% to $4,204Bitcoin up 0.4% to $63,631The main story of the session was that Iran has emerged with key details of its deal with the US. And it is either a case of there going to be another major TACO moment or this deal is going to fall apart before it even begins.The details point to many concessions being offered…

Nordea’s Jan von Gerich expects Kevin Warsh’s first FOMC meeting on 17 June to deliver a more neutral policy stance, with earlier projected rate cuts likely removed from the dot plot and some hike calls appearing. He thinks Warsh will seek consensus and credibility rather than appeasing political pressure, and any communication changes will be signalled rather than implemented immediately.Dot plot seen shifting away from cuts”After the ECB’s rate hike, the focus will now shift to the FOMC next week, with the decision out on Wednesday 17 June.””Will Warsh try to forge consensus and side with more neutral or even…

German government spending only thing preventing GDP fall, Bundesbank says Source link

The MT5 Wave Indicator is a technical tool that visualizes market momentum through oscillating wave patterns. Unlike simple moving averages, it measures the rhythm of price swings to identify potential trend continuations or reversals. Traders often use it alongside traditional support and resistance levels to confirm signals. For example, on GBP/USD 1-hour charts during the London session, wave peaks can highlight when bullish momentum is peaking, while troughs suggest short-term exhaustion. The indicator works by converting price movements into a smoothed wave line. This allows traders to see underlying momentum shifts that aren’t immediately obvious on candlestick charts. While it…