Market News
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Oil: Limited war risk keeps Brent capped ā DBS
DBS Group Researchās Philip Wee notes that recent Iranian strikes on shipping in the Strait of Hormuz pushed Brent crude from $72 to $76 per barrel and lifted US Treasury 2Y yields, but markets still see no return to full-scale war.
Silver Price Forecast: XAG/USD falls toward $58.00 as Trump declares Iran truce āfinishedā
Silver price (XAG/USD) extends its losses for the third consecutive day, trading around $58.30 per troy ounce during the European hours on Wednesday. The non-yielding white metal struggled as renewed Middle East escalations threatened the interim United States (US)-Iran peace deal.
Swedish Krona: Weakens against Euro ā Societe Generale
Societe Generaleās Kenneth Broux highlights EUR/SEK reclaiming its 200-day moving average and breaking above a base, signalling a short-term uptrend towards 11.11.
WTI surges above $74 as Trump confirms MoU with Iran is over
West Texas Intermediate (WTI), futures on NYMEX, soars 3.2% to near $74.30 during the European trading session on Wednesday, the highest level seen in two weeks.
US Dollar: Fed pricing questioned as disinflation looms ā MUFG
MUFGās Derek Halpenny argues that June FOMC minutes may already be stale as weaker labour data and lower energy prices challenge the Fedās hawkish dot plot. He sees OIS pricing as too aggressive, with rate hikes over-priced and a rate cut by March 2027 more likely than another hike.
Australian Dollar turns upside down as Trump says MoU with Iran seems over
The Australian Dollar (AUD) gives back its early gains and turns lower to near 0.6915 against the US Dollar (USD) during the European trading session on Wednesday.
Australian Dollar: Pullback within broader upside risk against US Dollar ā UOB
United Overseas Bankās (UOB) Quek Ser Leang notes AUD/USD has retreated from recent highs after failing to clear resistance near 0.6980.
Aluminium: Deficit outlook supports rebound ā ING
INGās Warren Patterson and Ewa Manthey note Aluminium has extended gains after hitting a fourāmonth low, as lower prices attracted Chinese buying.
Dow Jones futures fall on increasing risk aversion, FOMC Minutes awaited
Dow Jones futures decline 0.40% to trade around 52,980 during European trading hours on Wednesday. Meanwhile, S&P 500 futures and Nasdaq 100 futures fall 0.17% and 0.14%, trading near 7,540 and 29,350, respectively.
6.8000: Chinese Yuan looks contained despite PBoC push to make Hong Kong main offshore hub
The offshore Chinese Yuan (CNH) is capturing market attention following a sweeping set of structural measures announced by the People's Bank of China (PBoC) to cement Hong Kongās status as a global offshore hub for the Yuan.Ā
GBP/JPY Price Forecasts: Pound nears 217.00 with the 217.24 all-time high eyed
The British Pound (GBP) has resumed its broader uptrend against the Japanese Yen (JPY) on Wednesday, with price action drawing closer to the 217.00 level and the all-time high of 217.22, on the bullsā focus.
Gold: Rallies face headwinds from Oil and rates ā OCBC
OCBC Bankās Sim Moh Siong and Christopher Wong explain that the precious-metals complex has come under renewed pressure following the recent spike in Oil prices. Gold is down nearly 2% and Silver more than 4% week-to-date, as geopolitics work mainly through the Oil, inflation and rates channel.
US President Trump: I think MoU with Iran is over
United States (US) President Donald Trump said during European trading hours on Wednesday that the memorandum of understanding (MoU) with Iran, aimed at ending the war in the Middle East, is over.