Author: FX
The Swiss Franc (CHF) trades flat against the US Dollar (USD) on Friday, reversing part of its earlier gains as the Greenback eases slightly from daily highs. At the time of writing, USD/CHF is trading around 0.7878 after briefly touching the 0.7900 mark. Meanwhile, the US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, is trading near 99.54 after retreating from an intraday high of 99.79.Despite the modest pullback in the Greenback, it remains up nearly 0.30% on the day, limiting follow-through selling pressure in USD/CHF. However, the Franc remains relatively firm across the…
Pentagon officials have made detailed preparations for deploying US ground forces into Iran, according to a CBS report.The report says Trump is deliberating whether to position ground forces in the region.”No, I’m not putting troops anywhere,” Trump said yesterday but quickly added: “If I were, I certainly wouldn’t tell you.”I wonder why this was leaked. I tend to think it might be something to bring Iran to the negotiating table but it could also be from those who think sending troops to the Middle East is a grave mistake.Finally, it could all be part of the usual planning and options…
CNN is out with a report highlighting the difficulty of reopening the Strait of Hormuz:US officials are furiously trying to avert a potential months-long closure of the Strait of Hormuz, privately acknowledging that reopening the key waterway is a problem without a clear solutionThe report from the Defense Intelligence Agency said it could remain shut from 1-6 months, citing four sources familiar.An official pushed back against the six-month scenario, saying: the six month closure of the Strait of Hormuz is an impossibility and completely unacceptable to the Secretary of WarOil is higher on this report but it’s notable that this…
A Bloomberg report citing an Iranian official says that Iran is sticking to its hardline position on the Strait of Hormuz and unwilling to discuss opening it while it’s under attack.The report says:Iranian officials have become reluctant to even discuss reopening the Strait of Hormuz as they focus on surviving the US-Israeli onslaught, according to a person involved in direct, high-level contacts with Tehran.It looks like early next week, we will have some kind of showdown between the US navy and Iran’s soldiers near the strait. How that unfolds is uncertain because President Trump confirmed there are no plans to…
The USDCAD opened near the highs from earlier this month at 1.3752, but upside momentum stalled when the price failed to extend above yesterday’s high at 1.37476. That failure prompted buyers to turn to sellers, pushing the pair lower in early trading.On the downside, the 100-hour moving average (currently near 1.37086) once again became the key focus. This level has been well-defined support over the past few sessions. Yesterday, the price tested the moving average on two separate occasions and found willing buyers both times. Similarly, on Wednesday, multiple dips into the level were met with buying interest, reinforcing its…
Gold (XAU/USD) extends losses on Friday following a sharp two-day decline that pushed prices to their lowest level since early February, near the $4,500 mark. The drop comes as markets increasingly price in a ‘higher-for-longer’ global interest rate environment following this week’s major central bank monetary policy announcements.At the time of writing, XAU/USD is trading around $4,580, pulling back from an intraday high near $4,735, and remains on track to post a third consecutive week of losses.Gold loses shine as hawkish central banks tighten gripThe Federal Reserve (Fed), Bank of Japan (BoJ), Swiss National Bank (SNB), Bank of England (BoE),…
The Dow Jones Industrial Average (DJIA) tumbled around 257 points, or 0.6%, on Friday as all three major US indices tracked toward a fourth consecutive losing week. The S&P 500 fell 0.8%, while the Nasdaq Composite underperformed with a decline of 1.2%. Overnight strikes between Iran and Israel, fresh attacks on energy sites in the Persian Gulf, and a Wall Street Journal report that the Pentagon is deploying thousands of additional Marines to the Middle East all weighed on sentiment. Volatility was amplified by the quarterly quadruple witching event, which saw trillions of dollars in options and futures expire, driving…
EUR/USD trades with a mild downside bias on Friday as a modest rebound in the US Dollar (USD) weighs on the Euro (EUR), with price action lacking follow-through buying after failing to sustain a break above the 1.1600 mark.At the time of writing, the pair hovers near 1.1542, down around 0.38% on the day, though it remains on track to close the week in positive territory after two consecutive weekly losses.Meanwhile, the US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, is trading near 99.67, recovering after falling about 1.10% on Thursday.From a…
GBP/USD trips down below 1.3350 as oil surges, Fed outlook boosts USDThe GBP/USD trims some of its Thursday’s gains, down by 0.84%, as traders turned risk-averse amid an escalation of the Middle East conflict and priced in no rate cuts by the Federal Reserve in 2026. At the time of writing, the pair trades below 1.3350 after hitting a daily high of 1.3442. Read More…GBP/USD retreats as BoE hawkish shift meets resilient US DollarGBP/USD retreats on Friday, trading around 1.3380 at the time of writing, down 0.39% on the day, after Thursday’s strong rally following the Bank of England (BoE) decision.…
GBP/USD trims some of its previous-day gains on Friday, down by 0.84%, as traders turn risk-averse amid an escalation of the Middle East war and price in no rate cuts by the Federal Reserve (Fed) in 2026. At the time of writing, the pair trades below 1.3350 after hitting a daily high of 1.3442.Sterling retreats as rising energy prices and hawkish Fed stance fuel Greenback demandThe jump in Crude Oil prices continues to underpin the Greenback, which, according to the US Dollar Index (DXY), which measures the performance of the American currency against six others, is up 0.48%.On Thursday, the…