Market News
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Japanese Yen: Relief rallies seen as selling opportunity – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad reports USD/JPY has fully retraced its prior slump and is testing key resistance at the 200-day moving average near 158.02.
Qatar’s Ansari: Efforts are ongoing to seek diplomatic solution in US-Iran conflict
Qatar's Foreign Ministry spokesperson, Majed Al Ansari, confirms during the European trading session on Tuesday that efforts are ongoing with the United States (US) and Iran to seek a diplomatic resolution. Ansari added, “What is important right now is getting back to the negotiation talks.”
British Pound finds footing at 1.3420 with markets awaiting US Job Openings data
The British Pound (GBP) edges higher against the US Dollar (USD) on Tuesday, reaching session highs above 1.3440 after finding support at the 1.3420 area earlier on the day.
Canadian Dollar: Trade surplus seen narrowing – TD Securities
TD Securities strategists expect Canada’s International Merchandise Trade surplus to narrow in June as weaker Oil prices weigh on energy exports. They forecast a surplus of $2.5bn versus the market’s $3.0bn and May’s $4.2bn.
Japanese Yen weakens despite intervention warnings as USD/JPY rebounds near 158
USD/JPY trades around 157.95 on Tuesday at the time of writing, up 0.49% on the day.
USD/CHF Price Forecast: Dollar, capped at 0.8100, hints at a potential “H&S” pattern
The US Dollar (USD) shows marginal losses against the Swiss Franc (CHF) on Tuesday, as Dollar bulls struggle to find acceptance above 0.8100.
Japanese Yen: Managed JPY signals new order – Rabobank
Rabobank’s Senior Market Strategist Benjamin Picton highlights coordinated action between the US Treasury and Japan’s Ministry of Finance (MoF) to defend the Japanese Yen (JPY), framing it as a potential “financial Fort Sumter” in capital markets.
Euro advances as ECB tightening expectations, Japan fiscal concerns weigh on Yen
EUR/JPY trades around 181.70 on Tuesday, up 0.44% on the day at the time of writing, supported by renewed optimism surrounding the Euro (EUR) and persistent weakness in the Japanese Yen (JPY).
South African Rand: Rate hold seen hurting currency – Commerzbank
Commerzbank’s Volkmar Baur writes that despite South Africa’s reasonable recent performance under pressure from the Iran conflict, the central bank’s July decision to leave its key rate unchanged was surprising.
New Zealand Dollar: Jobs data and RBNZ hiking path – ING
ING’s Francesco Pesole expects New Zealand’s Q2 labour data to broadly match the Reserve Bank of New Zealand’s May projections, which implied one to two hikes in Q3. He favours a hike in September or October, with rising conviction for September.
NZD/USD Price Forecast: Holds steady near 0.5870 as bullish bias remains
The NZD/USD pair seesaws between tepid gains and minor losses through the first half of the European session on Tuesday, stalling the previous day's retracement slide from a two-month high – levels just above the 0.5900 mark.
Japanese Yen: Joint intervention threat curtails selling – MUFG
MUFG’s Lee Hardman notes that the Japanese Yen has weakened modestly in Asia, with USD/JPY near its 200‑day moving average around 158.00 after recent joint intervention by Japan and the US.
Spain 6-Month Letras Auction climbed from previous 2.385% to 2.496%
Spain 6-Month Letras Auction climbed from previous 2.385% to 2.496%