Author: FX
Gold (XAU/USD) price retreats on Friday during the North American session, pressured by US President Donald Trump’s comments allowing the resumption of US-Iran talks, but reiterating that the ceasefire is “over.” The XAU/USD pair trades at around $4,103, down 0.48%.XAU/USD falls as renewed war risks lift yields and DollarThe yellow metal seems poised to end the week down 0.51%, driven by the escalation of the conflict. The Greenback erased its earlier losses, as the US Dollar Index (DXY), which measures the buck’s value against six currencies, holds firm at 100.94, unchanged.In his Truth Social account, President Trump posted, “The Islamic…
MUFG’s Lloyd Chan notes Bank Negara Malaysia (BNM) kept the Overnight Policy Rate (OPR) at 2.75% and expects it to stay on hold through 2026, with domestic fundamentals described as broadly supportive. Recent Malaysian Ringgit (MYR) weakness has stayed below 4.15 against the US Dollar (USD), and Chan expects USD/MYR to trade broadly within a 4.00–4.20 range near term, while maintaining a neutral stance on Malaysian government securities.Ringgit seen holding broad range”In Malaysia, BNM kept the Overnight Policy Rate unchanged at 2.75% and maintained a broadly neutral policy stance.””We expect BNM to remain on hold through the rest of 2026,…
Commerzbank analysts highlight that China’s June Consumer Price Index (CPI) slowed to 1.0% year-on-year while Producer Price Index (PPI) rose 4.1%, widening the PPI-CPI gap and squeezing downstream margins. The PBoC acknowledged “structural divergence” between high-tech strength and weak consumption. Despite this backdrop, USD/CNY and USD/CNH both fell, reflecting some currency strength even as domestic demand remains subdued.China reflation momentum softens”China’s reflationary recovery lost further traction in June, with CPI rising 1.0% yoy (Bloomberg consensus: 1.1%) vs 1.2% in both April and May. The reading marks the slowest CPI print in three months and reinforces concerns that domestic demand remains…
The earnings bar is high and Wall Street thinks it gets cleared anyway — a look at the week ahead !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link
Deutsche Bank has a simple message for anyone trying to trade currencies on headlines this year: stop. A war in the Middle East, a leadership change at the Fed, wild swings in tech valuations — and none of it has mattered as much as one thing. The bank’s analysis shows yield has been the dominant driver of 2026 currency moves.Deutsche Bank’s George Saravelos explains it by saying that when growth holds up, volatility stays contained and yield differentials get paid. ” It is the impressive resilience of global growth, which is allowing carry to prevail and, as we argued a…
The Baker Hughes Rig count for the current week showed:Total U.S. rigs: 580 up +1Oil rigs: 445 UnchangedGas rigs: 126 up +1The price of crude oil is currently trading at $71.20 down $0.88 or -1.21% on the day. The low price for the day reach $70.77. The high price was at $73.16. The 100 hour moving average is currently at $71.70 and represents close resistance. On the downside, getting through the 200 hour moving average at $70.32 would tilt the technical bias more to the downside. As it is right now, the technical bias is more neutral with the price…
SK Hynix made an impressive NASDAQ debut following its successful American Depositary Receipt (ADR) offering at $150. The shares opened at $170 and are currently trading near $174, up roughly $24 on the session.The enthusiasm is easy to understand. SK Hynix is a critical supplier of the high-bandwidth memory (HBM) chips that power Nvidia’s AI processors. Simply put, SK Hynix provides the fuel that helps Nvidia’s AI engine run. With investors embracing SK Hynix’s growth story, Nvidia is benefiting as well. Nvidia shares are currently up more than $7, or 3.48%, to around $209.75.From a technical perspective, today’s rally is…
Crude oil is trading lower and back below its 100 hour moving average at $71.65 !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link
The latest geopolitical headlines once again reminded traders just how headline-driven markets can be. Following President Trump’s declaration that the “Ceasefire is OVER!”, the initial reaction was textbook risk-off: the U.S. dollar moved higher, stocks turned lower, oil prices rallied, and Treasury yields edged higher. However, true to the recent roller-coaster price action, many of those moves have already begun to reverse. It’s a familiar pattern—markets react first to the headline, then reassess as the dust settles.EURUSD:The EURUSD initially fell back below its converged 100- and 200-hour moving averages, currently at 1.14257 and 1.14200, with the decline reaching 1.1411 before…
Royal Bank of Canada (RBC) economist Nathan Janzen notes that Canadian labour markets showed further signs of stabilisation in June, following a stronger improvement in May. Employment rose modestly, while per-worker conditions improved and the unemployment rate edged down to 6.5%. Janzen highlights softer population growth, firmer economic data and lower U.S. tariff rates as supporting factors, and expects further unemployment declines later in 2026.Labour data supports gradual recovery view”Canadian labour markets showed further signs of steadying in June after a larger improvement in May.””The employment increase itself in June (+18k) left the measure still down 6k on net for…