Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
Gold hits three-month peak above $4,600 as Middle East risks fuel rally
Gold price hits a three-month high and is poised to end the week with gains of over 5.6%, even though business activity in the services sector in the US was solid. Recent developments in the Middle East and a softer US Dollar underpin the yellow metal, which has surpassed the $4,600 threshold.
EUR/USD Price Forecast: Bulls test 1.1700 as RSI turns overbought
EUR/USD heads for a fourth consecutive weekly gain on Friday, although it has erased its earlier intraday advance. At the time of writing, the pair trades around 1.1682 after briefly rising above 1.1700, its highest level since May 14.
Germany: Ifo sentiment seen weakening on Iran war â Commerzbank
Commerzbank economists Christoph Balz and Ralph Solveen expect the Ifo Business Climate Index to slip from 86.6 to 86.0 in August as renewed Iran war concerns and higher energy prices weigh on expectations.
Higher yields stop paying the Dollar Index
The Dollar Index trades just beneath 99.00 and unchanged on the session, with the entire day fitting inside 35 pips between the 98.50 area and a high that stopped a shade short of the handle.
Swiss Franc struggles as US Dollar steadies, SNB keeps negative rates on table
USD/CHF holds firm on Friday as the US Dollar (USD) trims its intraday losses. At the time of writing, the pair trades around 0.8013 after slipping to 0.7949 on the previous day, its lowest level since June 17.
United Kingdom: Resilient growth outlook â Deutsche Bank
Deutsche Bank Research, led by Sanjay Raja and Maui Brennan, highlights the United Kingdom (UK) economyâs surprising resilience to the Iran-related energy shock in 2026. Gross Domestic Product (GDP) grew 0.6% q-o-q in Q1 and 0.4% in Q2, making the UK the fastest-growing G7 economy.
New Zealand Dollar extends rally as fading Fed-hike bets soften US Dollar
The New Zealand Dollar (NZD) extends its rally against the US Dollar (USD) on Friday, trading near 0.6000 and close to its highest level since end-May.
United States Baker Hughes US Oil Rig Count registered at 452, below expectations (456)
United States Baker Hughes US Oil Rig Count registered at 452, below expectations (456)
Iranâs President Pezeshkian urges end to war as US pressure looms â Bloomberg
Iranian President Masoud Pezeshkian stated that âIt would be better to end the war today, when we have power and dignity, and with the whole world acknowledging our victory,â according to a Bloomberg report on Friday.
Bank of Canada: Tariff deal unlikely to accelerate hikes â TD Securities
TD Securitiesâ Robert Both expects the Bank of Canada to remain cautious even if a tariff agreement is reached. The Bank wants more data on how lower tariffs affect exports and output, with key trade figures not available until November.
Euro treads water vs Yen as Japanese inflation, European PMIs offset each other
EUR/JPY trades around 185.70 on Friday at the time of writing, virtually unchanged on the day. The Japanese Yen (JPY) gains some support from firmer Japanese inflation data, but the move is offset by resilience in the Euro (EUR) following better-than-expected activity indicators in the Eurozone.
The Dow Jones Industrial Average buys its own bond problem
The Dow Jones Industrial Average trades roughly 430 points higher at just above 53,200, taking back the larger part of a Thursday decline that ran close to 690 points.
European Central Bank: Structural LTROs could ease funding pressure - Rabobank
Rabobank's Bas van Geffen, analyses how forthcoming structural Longer-term Refinancing Operations (LTROs) could complement the European Central Bank's (ECB) standard refinancing operations as excess liquidity declines.