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OCBC: USD/CNH Bullish Momentum Intact but RSI Signals Correction
OCBC FX strategists note USD/CNH stalled near 6.8020; daily bullish momentum remains intact but RSI is turning lower, indicating the Chinese Yuan’s weakness may be corrective.
Gold Rebounds as US Yields Fall, Dollar Weakens
Gold price recovers to a two-day high of $4,096 as falling US Treasury yields weigh on the US Dollar, with traders trimming hawkish Fed bets. XAU/USD currently trades at $4,076.
Gold Bearish Cycle Targets $3400 After Record High at $5598.75
Elliott Wave analysis indicates that gold (XAU/USD) has entered a bearish corrective cycle, with potential downside to $3400 following a record high of $5598.75 on January 29, 2026.
USD/SGD Stalls After Six-Day Rally, Holds Near 1.2950 – UOB
UOB analysts note that USD/SGD has stalled after a six-day advance, easing to 1.2950 before closing near that level, suggesting a range-bound phase.
BoJ Hike Lifts Yen, But USD/JPY Holds Near 162.00
USD/JPY closed the week near 162.00, just below multi-decade highs, despite a Bank of Japan rate hike that was meant to strengthen the yen.
BNY: Taiwan Dollar Undervalued Amid Rotational Flows
BNY's Geoff Yu notes that Taiwan's strong equity performance in 2026 has coincided with net institutional outflows, mainly from U.S. pensions and hedge funds, while APAC and EMEA investors provide inflows, leaving the TWD undervalued.
Canadian Dollar Trims Gains as US-Iran Tensions, Hawkish Fed Support USD
The Canadian Dollar pares intraday gains as US-Iran uncertainty and expectations of a hawkish Federal Reserve help the US Dollar recover from earlier losses.
US Dollar Index Reaches 102.00 Barrier on Fed Rethink
The US Dollar climbed to near 102.00, levels not seen since early May 2025, as markets reassess Federal Reserve policy expectations.
Thai Baht Steadies After Below-Consensus Export Data – Commerzbank
Commerzbank notes Thailand's May exports rose 10.6% year-on-year, missing consensus and sharply slowing from April's 23.1% growth, though capital inflows are supporting the baht. The government projects 8% export expansion for 2026 on front-loading.
USD/JPY Eases from New High as Intervention Risk Lingers
USD/JPY pulled back slightly on Friday but remains near its recent peak at 161.95, with traders wary of possible Japanese intervention.
MUFG: BNM FX Support Tempers Ringgit Downside, Caps Upside
Analysts at MUFG note that the Malaysian Ringgit rose 0.4% vs the USD after Bank Negara Malaysia reintroduced a 2024-style FX support measure aimed at encouraging repatriation and conversion of offshore funds. The policy is seen as limiting further downside but also capping upside potential.
Euro Holds Ground Against Dollar Amid Middle East Tensions and Fed Outlook
EUR/USD is trading slightly higher on Friday but is still on track for a second consecutive weekly loss as geopolitical risks in the Middle East and a hawkish Federal Reserve support the US dollar.
British Pound Rebounds as US Dollar Rally Fades, UK Politics Stabilize
The GBP strengthened 0.20% against the USD as the greenback pulled back from year-to-date highs, with markets pricing in a less hawkish Fed and UK political conditions improving.
AUD/USD Recovers Near 0.6900 on US Dollar Profit-Taking
The Australian Dollar is recovering ground against the US Dollar on Friday, with AUD/USD trading near the 0.6900 level as profit-taking hits the Greenback after a two-week rally.
Standard Chartered: China Fiscal Spending to Rebound
Standard Chartered economists predict China's fiscal spending will rebound after underperforming in early 2026, which had weighed on growth despite a stronger-than-expected first quarter.
Australia Unemployment Dips to 4.4% but UOB Warns of Emerging Slack
Australia's unemployment rate fell to 4.4% in May, with employment surging by 40,300, driven mainly by part-time jobs. UOB's Lee Sue Ann cautions that rising participation masks growing slack in the labor market.
Food and Services Signal Steady Inflation in June Tokyo CPI
Societe Generale economists note that June Tokyo CPI data showed little change from May, with food and services indicating steady inflation, despite a modest upside surprise in headline and core figures.
British Pound Steadies Against Yen Amid UK Politics and Intervention Risks
GBP/JPY traded in a narrow range on Friday as traders weighed UK political developments against the risk of Japanese intervention, with USD/JPY holding above 160.00.
South Korea Retail Support & FX Divergence in 2026 – BNY
BNY's Geoff Yu notes South Korean equities posted exceptional returns in 2026, with retail investors providing support while institutions remain net sellers, highlighting FX divergence.
Yen Strengthens on BoJ Hike Expectations, Intervention Risks Weigh on USD/JPY
The Japanese yen strengthened on Friday as expectations of a Bank of Japan rate hike and heightened intervention risks pushed USD/JPY lower. The pair traded around 161.60 after failing to sustain above 162.00.
Gold Sell-off Intensifies, $4,000 Handle at Risk
Gold (XAU/USD) initially edged higher before reversing sharply to its lowest level since November, falling below $4,000. The metal found some support but failed to stage a meaningful rebound, closing the week deep in negative territory.
ECB Likely to Raise Rates Once More Before Cutting, Says Commerzbank
Commerzbank strategists expect the European Central Bank to deliver at least one more rate increase amid still-elevated inflation, despite lower oil and gas prices.
Gold Weekly Forecast: Sell-off Intensifies, $4,000 at Risk
Gold (XAU/USD) edged higher early in the week before turning sharply lower, falling below $4,000 to its lowest level since November. Although it found a foothold, the metal ended the week deep in negative territory, with the sell-off intensifying and putting the $4,000 handle at risk.
Commerzbank: Falling Oil Prices to Reduce Inflation, Make Fed Rate Hikes Unlikely
Commerzbank strategist Bernd Weidensteiner says that declining oil and gasoline prices should bring down U.S. inflation and reduce the likelihood of further Federal Reserve rate increases.