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President Trump declares US âGuardian of the Hormuz Straitâ
United States (US) President Donald Trump announced that the Strait of Hormuz is open and will remain accessible to international shipping âwith or without Iran,â while outlining a new US-led security arrangement for the strategic waterway.
Denmark: Goods resilience offsets weaker services â Danske Bank
Danske Research Team reports that overall consumer spending excluding energy in June was broadly unchanged on the month, with real spending up 4.3% year-on-year. Real retail spending on goods rose, particularly in larger consumer categories, while service spending generally declined.
Japanese Yen: Higher energy prices pressure JPY â MUFG
MUFGâs Lee Hardman reports the Japanese Yen has weakened again, pushing USD/JPY back above 162.00 as higher energy prices and fading impact from last weekâs verbal intervention weigh on the currency.
US Dollar: CPI, Fed speakers and Warsh testimony â Rabobank
Rabobank's Senior Macro Strategist Bas van Geffen highlights a USâcentric data and policy calendar, with June CPI expected to ease to 3.8% yearâonâyear and core inflation to 2.8%.
Fed: Inflation risks and policy hold â TD Securities
TD Securities economists Oscar Munoz and Eli Nir highlight that the June FOMC minutes were hawkish, with most participants ready to hike if supply-driven inflation persists.
Switzerland: Federalism and direct democracy as growth drivers â Commerzbank
Commerzbankâs Dr. Jörg KrĂ€mer describes Switzerlandâs strong federalism and extensive use of financial referenda as key to its superior economic outcomes. Cantons and municipalities compete for taxpayers by setting their own tax rates and controlling spending.
Why the Swiss Franc isnât likely to move far from 0.9200 against the Euro
The Swiss Franc (CHF) trades in a tight range against the Euro (EUR) as the Swiss National Bank (SNB) actively works to neutralize safe-haven capital inflows stemming from increased geopolitical woes.Â
Iran warns US against Hormuz transit
Iranâs top joint military command issued a series of warnings on Monday over the Strait of Hormuz, saying any unauthorized United States (US) transit would be confronted and cautioning neighboring countries against supporting Washington.
Silver Price Forecast: XAG/USD remains range-bound with a bearish bias
Silver (XAG/USD) attracts sellers on Monday after renewed fighting between the United States (US) and Iran over the weekend revived energy-driven inflation concerns and reinforced expectations of a Federal Reserve (Fed) interest rate hike later this year.
Japanese Yen: GPIF narrative keeps FX volatility elevated â BNY
BNYâs Geoff Yu highlights that Japan remains a key source of twoâway FX volatility as markets digest conflicting signals on Government Pension Investment Fund (GPIF) allocations.
US Dollar: Geopolitics and inflation risks support Dollar â MUFG
MUFGâs Lee Hardman notes the US Dollar (USD) has gained modestly as renewed USâIran tensions lift Brent Oil back to USD80, with markets rebuilding a geopolitical risk premium.
Russia Foreign Trade up to $14.154B in May from previous $11.431B
Russia Foreign Trade up to $14.154B in May from previous $11.431B
Swiss Franc: SNB intervention and cautious policy stance â Rabobank
Rabobank's Senior FX Strategist Jane Foley describes how the Swiss National Bank has actively countered safe haven inflows into the Swiss Franc since the Iran war, selling CHF and signalling increased willingness to intervene.