Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
US Dollar Index: Higher energy supports DXY recovery – ING
ING’s Chris Turner notes that deteriorating Gulf headlines and higher energy prices are keeping the Dollar supported, even if US Dollar Index (DXY) remains about 1% below its June peak.
WTI Oil rally takes a breather as Tehran leaves the door open to diplomacy
West Texas Intermediate (WTI) US Oil trades around $81.30 on Monday at the time of writing, down 0.54% on the day as investors take some profits following the commodity's sharp rally in recent weeks.
British Pound: Sterling rally seen nearing exhaustion against Euro – OCBC
OCBC strategists Sim Moh Siong and Christopher Wong argue recent British Pound (GBP) strength looks stretched as markets price in fiscal discipline from the new UK government under Andy Burnham.
Gold Price Forecast: XAU/USD nears the tip of a triangle formation at the $4,000 area
Gold (XAU/USD) shows marginal gains on Monday, as the US Dollar recovery stalled and Oil prices pulled back from highs. The precious metal remains capped below a descending trendline resistance, but downside attempts remain supported above the $3,965 area, thus forming a descending triangle pattern
UK PM Starmer: My work is done
United Kingdom (UK) Prime Minister (PM) Keir Starmer, the seventh PM since Britain’s exit from the European Union (EU), delivers his resignation to King Charles at Buckingham Palace.
GBP/JPY Price Forecast: Flatlines around 218.50 with long-term highs at hand
GBP/JPY wavers around 218.50, with bears contained above previous highs at 218.00.
Japanese Yen: BoJ expectations skewed to upside – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad expects Japan’s June Consumer Price Index (CPI) to edge higher across headline and core measures, with core ex fresh food and energy steady at 1.8%.
Euro: Growth validation needed for value case – BNY
BNY’s Geoff Yu argues that Euro (EUR) assets show emerging value as the European Central Bank (ECB) holds policy and inflation pressures ease, but stresses that Purchasing Managers’ Index (PMI) data and earnings must confirm stable growth.
Euro holds steady vs Japanese Yen ahead of ECB, BoJ meetings
EUR/JPY trades around 185.70 on Monday at the time of writing, showing little direction after a quiet start to the week.
CEE FX: Risk-off keeps pressure on forint – ING
ING’s Frantisek Taborsky notes that escalating US-Iran tensions are driving risk-off sentiment, overshadowing a light Central and Eastern Europe data calendar.
Hungarian Forint: Lags as MNB cuts loom – Societe Generale
Société Générale identifies the Hungarian forint as July’s main Central and Eastern European (CEE) laggard, with EUR/HUF moving back above 363 as markets anticipate another 25bp central bank of Hungary Magyar Nemzeti Bank (MNB) rate cut to 5.75%.
Iran's Baghaei: Intermediaries share messages with Tehran over recent days
Esmaeil Baghaei Hamaneh, a spokesperson for the Ministry of Foreign Affairs of Iran, said during the European trading session on Monday that Tehran pursues war and diplomacy based on its national interests when asked whether the door to talks with the United States (US) was now closed, Reuters repor
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Monday, according to FXStreet data. Silver trades at $56.83 per troy ounce, up 1.49% from the $56.00 it cost on Friday.