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Gold Holds Above $4,200 on Hopes of US-Iran Deal
Gold (XAU/USD) consolidates above $4,200 as market optimism grows over a potential US-Iran deal expected next week, easing inflation concerns.
KRW Strengthens on Equities and Hawkish BoK – BBH
South Korean Won is outperforming on strong local equities and a hawkish central bank stance, according to Brown Brothers Harriman's Elias Haddad.
USD/CAD RSI Overbought; Bears Defend 1.4000 Level
USD/CAD traded higher on Friday, supported by lower oil prices weighing on the Canadian dollar. However, the RSI entered overbought territory and bears are actively defending the 1.4000 resistance level.
Yen Weakness Sparks Intervention Concerns as USD/JPY Remains Elevated
Scotiabank strategists warn that USD/JPY's persistent strength above prior intervention-trigger levels raises the risk of Japanese authorities stepping in to support the yen.
EUR/USD Steady as Market Awaits US-Iran Peace Deal Clarity
EUR/USD trades around 1.1573, fluctuating between modest gains and losses as traders await Tehran's decision on a potential agreement with the US to end the Middle East conflict.
Societe Generale: Policy Mix Supports Yuan Amid Subdued Inflation
Societe Generale notes that China's May CPI at 1.2% and core at 1.1% indicate weak consumer demand, while PPI hit a four-year high, yet a supportive policy mix is expected to stabilize the yuan.
iFX EXPO International Returns June 16–18 with Kraken, Google, Visa Speakers
iFX EXPO International will be held June 16–18, featuring senior leaders from Kraken, Google, and Visa discussing tech stacks, liquidity, tokenization, payments, and personal branding.
USD/JPY Holds Near 160.20 as Markets Eye BoJ and Fed Meetings
USD/JPY trading near 160.20 as traders await Bank of Japan policy decision and Kevin Warsh's first Fed meeting.
BoE Expected to Hold Rates at 3.75% in June, Reuters Poll Shows
A Reuters poll of 65 economists indicates the Bank of England will keep the Bank Rate at 3.75% at its June 18 meeting, though opinions are divided on the next move.
Pound Slips on UK GDP Contraction, Risk Appetite Improves
The British Pound turned lower against the US Dollar after data showed the UK economy contracted in April, while improved risk sentiment from US-Iran talks initially weighed on the Greenback.
Vance Says Iran Won't Get Cash for Strait of Hormuz Deal; Dollar Under Mild Pressure
US Vice President JD Vance stated that Iran will not receive cash or released funds solely for signing a potential agreement, rebutting rumors about a deal to reopen the Strait of Hormuz. His comments placed mild downward pressure on the US dollar.
EUR/USD Weekly Forecast: Volatility Ahead on Fed and War Headlines
The EUR/USD pair closed the week in positive territory after touching a low of 1.1499, its weakest since late March. Traders brace for volatility from the Fed decision and geopolitical headlines.
Gold Rebounds from $4,200 But Bears Not Done Yet
Gold staged a strong rebound after touching its lowest since November near $4,200, but the weekly forecast suggests the metal is not out of the woods yet.
British Pound Steady Near 1.3400 Ahead of Key BoE and Data
The British Pound is consolidating recent gains around the 1.3400 level against the US Dollar, with domestic risk elevated ahead of upcoming UK CPI, labour data, and the Bank of England decision.
EUR/GBP Holds Firm as Weak UK GDP, Hawkish ECB Support Euro
EUR/GBP traded around 0.8633 on Friday, supported by hawkish ECB rhetoric and weak UK GDP data that highlighted a slowing British economy.
ING: CEE FX Sees Risk-On Bounce on US-Iran Headlines, Policy Remains Key
ING strategist Frantisek Taborsky notes that headlines about a possible end to the US-Iran conflict triggered a risk-on move, helping Central and Eastern European currencies recover recent losses. However, monetary policy remains a key factor.
CAD Weighed by Weaker Oil, USD Holds Near 1.40 – Scotiabank
Scotiabank strategists note the Canadian Dollar remains pressured by declining oil prices amid Iran peace hopes, though improved risk appetite provides limited support. The USD/CAD pair holds near the 1.40 ceiling.
New Zealand Dollar Dips as Robust US Data Boosts Dollar
NZD/USD fell to 0.5830 on Friday, down 0.15% on the day, pressured by strong US sentiment and inflation figures that underpinned the US Dollar.
ECB Hawkish Forecasts Suggest Higher Terminal Rate – Nomura
The ECB raised its deposit rate by 25bp to 2.25% and signaled more hawkish forecasts, potentially leading to a higher terminal rate according to Nomura's European Economics team.
GBP/USD Poised to Fall Toward 1.3100 – BBH
Brown Brothers Harriman strategist Elias Haddad expects GBP/USD to decline to 1.3100 as US growth outperforms the UK.
ING: US-Iran Peace Deal Talk Softens Dollar but DXY Holds Firm
ING strategist Chris Turner notes that a potential US-Iran peace deal has softened the dollar, but the DXY index remains resilient as energy supply and inflation risks persist.
Canadian Dollar Falls on Weaker Oil, Strong US Inflation
The Canadian Dollar weakened against the US Dollar on Friday, trading near 1.3990, as falling oil prices and robust US inflation data supported the USD while the BoC shows little urgency to raise rates.
ECB Likely to Continue Hiking Despite Softening Oil – Nordea
Jan von Gerich of Nordea notes the ECB delivered a widely expected 25bp rate hike and expects further tightening, with the next move likely in July. Broader inflation pressures mean lower energy costs alone won't ease policy.
Mexican Peso Steady but Faces USMCA Risks: Societe Generale
Societe Generale strategists note that the Mexican peso remains stable despite increasing challenges, with inflation cooling to 3.94% in May and Banxico signaling the end of its easing cycle, though USMCA risks loom.