Market news
Crypto, stocks, forex and macro, aggregated for traders.
USD/JPY Holds Near 160.20 as Markets Eye BoJ and Fed Meetings
USD/JPY trading near 160.20 as traders await Bank of Japan policy decision and Kevin Warsh's first Fed meeting.
BoE Expected to Hold Rates at 3.75% in June, Reuters Poll Shows
A Reuters poll of 65 economists indicates the Bank of England will keep the Bank Rate at 3.75% at its June 18 meeting, though opinions are divided on the next move.
Pound Slips on UK GDP Contraction, Risk Appetite Improves
The British Pound turned lower against the US Dollar after data showed the UK economy contracted in April, while improved risk sentiment from US-Iran talks initially weighed on the Greenback.
Vance Says Iran Won't Get Cash for Strait of Hormuz Deal; Dollar Under Mild Pressure
US Vice President JD Vance stated that Iran will not receive cash or released funds solely for signing a potential agreement, rebutting rumors about a deal to reopen the Strait of Hormuz. His comments placed mild downward pressure on the US dollar.
EUR/USD Weekly Forecast: Volatility Ahead on Fed and War Headlines
The EUR/USD pair closed the week in positive territory after touching a low of 1.1499, its weakest since late March. Traders brace for volatility from the Fed decision and geopolitical headlines.
Gold Rebounds from $4,200 But Bears Not Done Yet
Gold staged a strong rebound after touching its lowest since November near $4,200, but the weekly forecast suggests the metal is not out of the woods yet.
British Pound Steady Near 1.3400 Ahead of Key BoE and Data
The British Pound is consolidating recent gains around the 1.3400 level against the US Dollar, with domestic risk elevated ahead of upcoming UK CPI, labour data, and the Bank of England decision.
EUR/GBP Holds Firm as Weak UK GDP, Hawkish ECB Support Euro
EUR/GBP traded around 0.8633 on Friday, supported by hawkish ECB rhetoric and weak UK GDP data that highlighted a slowing British economy.
ING: CEE FX Sees Risk-On Bounce on US-Iran Headlines, Policy Remains Key
ING strategist Frantisek Taborsky notes that headlines about a possible end to the US-Iran conflict triggered a risk-on move, helping Central and Eastern European currencies recover recent losses. However, monetary policy remains a key factor.
CAD Weighed by Weaker Oil, USD Holds Near 1.40 – Scotiabank
Scotiabank strategists note the Canadian Dollar remains pressured by declining oil prices amid Iran peace hopes, though improved risk appetite provides limited support. The USD/CAD pair holds near the 1.40 ceiling.
New Zealand Dollar Dips as Robust US Data Boosts Dollar
NZD/USD fell to 0.5830 on Friday, down 0.15% on the day, pressured by strong US sentiment and inflation figures that underpinned the US Dollar.
ECB Hawkish Forecasts Suggest Higher Terminal Rate – Nomura
The ECB raised its deposit rate by 25bp to 2.25% and signaled more hawkish forecasts, potentially leading to a higher terminal rate according to Nomura's European Economics team.
GBP/USD Poised to Fall Toward 1.3100 – BBH
Brown Brothers Harriman strategist Elias Haddad expects GBP/USD to decline to 1.3100 as US growth outperforms the UK.
ING: US-Iran Peace Deal Talk Softens Dollar but DXY Holds Firm
ING strategist Chris Turner notes that a potential US-Iran peace deal has softened the dollar, but the DXY index remains resilient as energy supply and inflation risks persist.
Canadian Dollar Falls on Weaker Oil, Strong US Inflation
The Canadian Dollar weakened against the US Dollar on Friday, trading near 1.3990, as falling oil prices and robust US inflation data supported the USD while the BoC shows little urgency to raise rates.
ECB Likely to Continue Hiking Despite Softening Oil – Nordea
Jan von Gerich of Nordea notes the ECB delivered a widely expected 25bp rate hike and expects further tightening, with the next move likely in July. Broader inflation pressures mean lower energy costs alone won't ease policy.
Mexican Peso Steady but Faces USMCA Risks: Societe Generale
Societe Generale strategists note that the Mexican peso remains stable despite increasing challenges, with inflation cooling to 3.94% in May and Banxico signaling the end of its easing cycle, though USMCA risks loom.
Commerzbank: Warsh's First Fed Meeting Unlikely to Cut Rates
Commerzbank analysts predict Kevin Warsh's first Federal Reserve meeting will not result in a rate cut, citing elevated PCE inflation and a still-solid labor market.
EUR/USD Trades Flat Near 1.1575 as 1.1600 Resistance Holds
The Euro gave back earlier gains against the US Dollar and is trading practically unchanged at 1.1575, with bulls unable to breach the 1.1600 level.
MUFG: Higher-for-Longer Rate Backdrop Supports US Dollar
MUFG analysts argue that firmer US inflation and resilient labor markets underpin a higher-for-longer global rates backdrop, supporting the US dollar.
EUR/USD Expected to Drift Toward 1.1400 – BBH
Brown Brothers Harriman's Elias Haddad expects EUR/USD to edge lower toward 1.1400 as US growth outperforms, following a brief dip near 1.1500 after the ECB decision.
British Pound Steady on Iran Peace Hopes Despite Weak UK GDP
The British Pound holds a moderately positive tone against the US Dollar as optimism over a US-Iran peace deal offsets disappointing UK GDP data.
USD/BRL Faces Downside Risk, SocGen Says
Societe Generale analysts note USD/BRL rebounding from near 4.88, approaching key resistance around 5.25. They highlight downside risk if support near 4.99 fails.
Iran's IRNA Reveals Key Terms of US-Iran Memorandum of Understanding
Iran's state news agency IRNA has published the key terms of the Memorandum of Understanding (MoU) being discussed with the United States. Bloomberg earlier reported the MoU is expected to be signed in Geneva.