Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
Iran’s IRGC says no oil or gas will be exported through Hormuz as long as US attacks continue
The Iranian Islamic Revolutionary Guards Corps (IRGC) said that no oil or gas will be exported through the Strait of Hormuz as long as US attacks continue, Tasnim news agency reported on Friday.
Gold bulls seem hesitant as US-Iran tensions and Fed hike bets underpin USD
Gold (XAU/USD) struggles to capitalize on its modest intraday recovery beyond the $4,000 psychological mark and remains within striking distance of the monthly trough.
Swiss Franc steadies against Dollar as US-Iran tensions counter shifting Fed outlook
USD/CHF holds ground after registering modest gains in the previous day, trading around 0.8090 during the Asian hours on Friday. The pair could rise as the US Dollar (USD) receives support from escalating developments surrounding conflicts in the Middle East.
Asian stock markets mirror US tech sell-off, Nikkei plunges over 4%
Asian stock markets face a sharp sell-off on the last trading day of the week, tracking seeking negative cues from United States (US) equity markets. US technology stocks fell sharply on Thursday as stocks of sophisticated chips extended their losses.
EUR/JPY Price Forecast: Remains below ascending triangle top near 186.00
EUR/JPY extends its losses for the second consecutive day, trading around 185.70 during the Asian hours on Friday. The currency cross is holding above both the nine-period and 50-period Exponential Moving Averages (EMAs), which reinforces a constructive near-term bias.
Chinese Yuan loses as safe-haven demand lifts US Dollar
USD/CNH gains ground for the second successive day, trading around 6.7760 during the Asian hours on Friday. The pair appreciates as the US Dollar (USD) receives support from escalating developments surrounding conflicts in the Middle East.
Japanese Yen softens on renewed US-Iran tensions, Japan flags intervention risk
The USD/JPY pair posts modest gains near 162.40 during the Asian trading hours on Friday. The US Dollar (USD) strengthens against the Japanese Yen (JPY) as the United States (US) launches a new wave of strikes against Iran for a sixth night in a row.
Australian Dollar moves away from three-week top as geopolitics and Fed hike bets lift USD
The AUD/USD pair remains on the back foot for the second straight day and slides to the 0.7980 region during the Asian session on Friday.
WTI extends range play around $79.00; bullish potential intact amid Mideast tensions
West Texas Intermediate (WTI) – the benchmark US crude oil price – edges higher during the Asian session on Friday, though it remains confined within a multi-day-old range.
British Pound weakens below 1.3500 as US launches new wave of strikes against Iran
The GBP/USD pair trades on a softer note around 1.3470 during the Asian trading hours on Friday. Geopolitical tensions in the Middle East trigger risk-off market sentiment and weigh on the Cable. The preliminary reading of the Michigan Consumer Sentiment Index for July is due later on Friday.
Silver Price Forecast: XAG/USD falls to near $55.50 amid interest rate concerns
Silver price (XAG/USD) remains subdued for the third successive day, trading around $55.50 per troy ounce during the Asian hours on Thursday. Silver is on track to drop over 7% this week as escalating Middle East tensions drive oil prices up.
US President Donald Trump begins widely anticipated address to the nation
US President Donald Trump is delivering a primetime address to the nation from the White House on Friday.
PBOC sets USD/CNY reference rate at 6.7934 vs. 6.7909 previous
On Friday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7934 compared to the previous day's fix of 6.7909 and 6.7734 Reuters estimate.