Market News
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Gold Price Forecast: XAU/USD hovers below $4,000 with the YTD low at hand
Gold (XAU/USD) shows moderate gains on Friday, but remains close to the year-to-date lows, at the $3,940 area, with upside attempts capped below the $4,000 psychological level for now.
Iran’s IRGC warns of increased aggression on Washington and countries having US bases
Iran’s Islamic Revolutionary Guard Corps (IRGC) warns of "more crushing" retaliation during the European trading session against the United States (US) and countries supporting it for hosting its bases.
Silver price today: Silver falls, according to FXStreet data
Silver prices (XAG/USD) fell on Friday, according to FXStreet data. Silver trades at $55.44 per troy ounce, down 0.17% from the $55.53 it cost on Thursday.
BoJ to leave interest rates in July policy meeting - Kyodo
According to a Kyodo News report, the Bank of Japan (BoJ) is expected to keep interest rates unchanged at 1% in the July policy meeting, people familiar with the matter told. The report also showed that the central bank will likely raise its growth forecast for the year.
Japanese Yen drifts lower against the US Dollar and draws closer to 40-year lows
The Japanese Yen (JPY) ticks lower for the second consecutive day against the US Dollar (USD), reaching the 162.50 area on Friday, drawing closer to the 40-year low, at 162.84 hit earlier this month.
European Central Bank: Rates on hold but tightening bias – Nordea
Nordea’s Jan von Gerich expects the European Central Bank to leave policy rates unchanged at the July meeting, describing it as a pause rather than a shift in stance. Lower-than-expected June inflation and volatile Middle East developments reduce urgency for an immediate move.
British Pound: Bearish against Euro on hawkish ECB guidance – TD Securities
TD Securities strategists see asymmetric downside risks for the British Pound (GBP) against the Euro (EUR). They argue that EUR/GBP appears notably undervalued relative to rate differentials, data surprises and equity performance.
Japanese Yen: Homeward investment shift could support recovery – MUFG
MUFG’s Derek Halpenny highlights that the Japanese Yen (JPY) remains near cyclical lows, but Government Pension Investment Fund (GPIF) and Japan Trusts flows already show a shift back toward JGBs.
Silver price on track for weekly decline as Middle East tensions fuel rate-hike worries
Silver (XAG/USD) trades around $55.50 at the time of writing on Friday, virtually unchanged on the day, but remains on track to post a weekly loss of nearly 7%.
US Dollar: Smile narrative supports gradual gains – OCBC
OCBC Bank strategists Sim Moh Siong and Christopher Wong highlight that the US Dollar (USD) remains supported by its yield advantage and safe-haven status, with FX moves still fitting the USD smile framework.
Eurozone Harmonized Index of Consumer Prices (MoM) in line with forecasts (-0.1%) in June
Eurozone Harmonized Index of Consumer Prices (MoM) in line with forecasts (-0.1%) in June
Eurozone Core Harmonized Index of Consumer Prices (YoY) in line with expectations (2.4%) in June
Eurozone Core Harmonized Index of Consumer Prices (YoY) in line with expectations (2.4%) in June
Eurozone Core Harmonized Index of Consumer Prices (MoM) remains unchanged at 0.2% in June
Eurozone Core Harmonized Index of Consumer Prices (MoM) remains unchanged at 0.2% in June