Market news
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Silver (XAG/USD) edges lower near $68 on Fed rate hike bets
Silver prices slipped to around $67.90 during Asian trading on Tuesday, paring recent gains as renewed Fed rate hike expectations and Middle East uncertainty weighed.
GBP/USD Consolidates Near 1.3350, Upside Limited
The British Pound is consolidating around the mid-1.3300s against the USD after bouncing from a three-week low near 1.3300, but upside potential appears limited.
USD/JPY Holds Above 160 as Yen Weakens Despite Intervention Warnings
The Japanese yen softened against the US dollar on Tuesday, with USD/JPY trading near 160.20 during Asian hours, as escalating Middle East tensions supported the greenback despite fresh intervention threats from Tokyo.
PBOC Sets USD/CNY Reference Rate at 6.8147
The People's Bank of China set the USD/CNY central rate at 6.8147 for Tuesday, compared to the previous day's fix of 6.8198.
AUD/USD Hovers Near Two-Month Low Ahead of China Trade Data
The Australian dollar remains near its lowest level since April 13 against the US dollar, struggling to extend a modest bounce as traders await China's trade balance data.
New Zealand Dollar Eases Ahead of China Trade Balance Data
NZD/USD edges lower to around 0.5800 during Asian hours as the US Dollar holds firm on Middle East uncertainty, with traders eyeing upcoming Chinese trade data.
Japan's Katayama: Stance Unchanged, Ready for Decisive Measures
Japan's Finance Minister Satsuki Katayama reiterated on Tuesday that the government's stance on currency policy remains unchanged and authorities stand prepared to take decisive action if needed.
Euro weakens below 1.1550 on Middle East uncertainty ahead of ECB rate decision
EUR/USD fell to around 1.1530 in early Asian trading Tuesday, pressured by Middle East uncertainty as markets await the ECB rate decision and US CPI data.
Gold Edges Lower Below $4,350 as Fed Rate Hike Expectations Grow
Gold price (XAU/USD) trades with mild losses around $4,325 during early Asian trading on Tuesday, pressured by rising bets of a US interest rate hike and uncertainty in the Middle East.
Market dodges oil shock but rate trap remains set
Monday's bounce was a relief rally, not confirmation of a trend shift. Oil pulled back from geopolitical risks, tech stocks rose, and risk assets stabilized, but the late-day fade indicates lingering caution.
Gold ETF Flows Turn Negative in May After Strong Inflows
Gold ETF inflows flipped modestly negative in May, reflecting a range-bound price and a sharp deceleration from previous months, per the World Gold Council.
South Korean Won Gains on Policy Support and Pension Rebalancing
South Korea's Won has outperformed its peers as authorities step up stabilization measures, including new FX rules and tighter oversight of offshore derivatives and National Pension Fund hedging, according to Brown Brothers Harriman.
USD/CNH Consolidates in 6.7800-6.7950 Range – UOB
UOB strategists note limited upside momentum for USD/CNH after a slight rise to 6.79, expecting consolidation between 6.7800 and 6.7950 for the day.
GBP/JPY Nearly Flat at 213.60, Bulls Target 214.00
GBP/JPY trimmed earlier losses and turned nearly flat near 213.60, down 0.09% amid mixed market sentiment. Bulls are aiming for the 214.00 level.
USD/CHF confirms inverted head-and-shoulders, targets 0.80
USD/CHF advanced 0.30% on Monday as an inverted head-and-shoulders pattern was confirmed and price action cleared the 200-day SMA. Technicians eye a potential move toward 0.80.
Asia FX: Oil, Fed Outlook Weigh on KRW, IDR – OCBC
OCBC strategist Sim Moh Siong notes higher oil prices and a firmer US policy outlook are pressuring Asian currencies, particularly the Korean Won and Indonesian Rupiah.
Gold Holds Flat as Ceasefire Optimism Offsets US CPI Concerns
Gold (XAU/USD) trades unchanged on Monday, with improving Iran-Israel ceasefire sentiment countering expectations of a hawkish Federal Reserve after strong NFP data.
Forex Today: Markets Assess Japanese GDP as ECB Decision Looms
The US Dollar Index trades cautiously near 100.00 as investors balance strong US data against improved risk sentiment after reports that Iran has ended military operations. Focus shifts to the upcoming ECB decision.
Chinese Yuan Appreciation Outweighs Yield Gap – Commerzbank
Commerzbank analyst Thu Lan Nguyen notes that despite the PBoC easing caps on USD deposit rates, the yuan has appreciated roughly 3% against the dollar this year, suggesting the appreciation trend is overriding the yield differential.
US Dollar Index Eases as Iran Halts Military Operations Against Israel
The US Dollar Index (DXY) edged lower on Monday as traders assessed the evolving Middle East situation after Iran halted military operations against Israel.
UOB Sees Further SGD Losses, Targets USD/SGD at 1.2960
UOB analysts Quek Ser Leang and Lee Sue Ann warn that the Singapore dollar could weaken further against the US dollar, targeting 1.2960, after a strong US jobs report pushed USD/SGD above 1.29.
Weekly Data Preview: USOIL and XAUUSD Ahead of Key Economic Releases
A preview of weekly data for USOIL and XAUUSD, with upcoming economic data expected to drive near-term price action.
ING: Zloty Most Vulnerable Among CEE FX in Risk-Off
ING analyst Frantisek Taborsky says Central and Eastern European FX is driven by global headlines and hawkish US repricing, with local data having limited impact. The Polish zloty is seen as most vulnerable in a risk-off environment.
AUD/USD Faces Key Support at 0.7000 as Rally Pauses
The Australian Dollar's recent uptrend has stalled, with AUD/USD pulling back to the 0.7000 support zone. A fresh catalyst is needed to resume the rally, while USD dynamics and geopolitics weigh.