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AUD/USD Could Drop to 0.6900 If It Breaks Below 0.6980
The Australian Dollar is trading slightly lower near 0.7003 against the US Dollar. A break below the 0.6980 support level could trigger a slide to 0.6900.
Kremlin Says Measures Underway to Address Fuel Supply Disruptions
The Kremlin confirms coordination between the government and oil companies to tackle fuel supply disruptions, while acknowledging tense efforts to minimize negative consequences in Crimea.
UK PM Starmer Steps Down, Pound Jumps Against Yen
The British Pound surged past 214.00 against the Japanese Yen after Keir Starmer resigned as UK Prime Minister, boosting Sterling across the board.
Oil and Gold Outlook: Key Economic Data This Week
A preview of USOIL and XAUUSD highlights that upcoming economic data will be the primary short-term drivers for oil and gold prices this week.
EUR/GBP slides as UK PM Starmer resignation boosts pound
The Euro weakened against the British Pound on Monday after UK Prime Minister Keir Starmer stepped down, with market sentiment favoring the GBP.
Starmer Resignation Seen as Negative for UK Assets
Keir Starmer's resignation has been labeled 'unambiguously negative' for UK assets, confirming market expectations that Andy Burnham will become the next Prime Minister.
BoJ Hike Fails to Boost Japanese Yen, OCBC Says
OCBC strategists note that the Bank of Japan's 25 basis point rate hike to 1.0% and confirmation of tapering ending in 2027 have not materially supported the Japanese Yen.
UK PM Starmer Resigns, Burnham Frontrunner to Replace
UK Prime Minister Keir Starmer has formally resigned, confirming weekend reports. He remains as caretaker PM while the leadership contest proceeds, with Andy Burnham emerging as the frontrunner to take over.
Euro Gains on Eurozone PMI and Lagarde Speeches; Yen Stays Pressured
EUR/JPY advances toward 185.30 on Monday, gaining 0.16%, as markets await Eurozone PMI data and speeches from ECB President Lagarde.
Brent Falls as US-Iran Talks Ease Supply Risk – Deutsche Bank
Brent crude oil reversed earlier gains after Deutsche Bank strategists noted that progress in US-Iran negotiations is reducing fears of supply disruptions via the Strait of Hormuz.
Main Street Stablecoin MSUSD Loses Dollar Peg, Crashes Over 90%
The MSUSD stablecoin from Main Street depegged on June 20, falling to around $0.25 after reserve auditor Accountable terminated the relationship. The incident triggered panic and a $39 million vault closure at Altura.
Gold Dips as Hawkish Fed, Geopolitical Risks Weigh
Gold (XAUUSD) remains under pressure as markets factor in further Federal Reserve tightening and ongoing geopolitical tensions, supporting the dollar.
Silver rises 2.3% to $66.33 on Monday
Silver prices increased on Monday, trading at $66.33 per troy ounce, up 2.30% from the previous level of $64.84, according to FXStreet data.
Gold Extends Losses on Higher-for-Longer Fed View – ING
Gold fell for a third straight session and week, losing over 2% as investors reassess US-Iran negotiations and US monetary policy expectations.
GBP Rises Above 1.3200 on Starmer Resignation News
The British Pound climbed past 1.3200 against the US Dollar on Monday, maintaining a mild positive tone despite reports that Prime Minister Keir Starmer resigned.
USD Gains Strength on Hawkish Fed Bets, Higher Yields – MUFG
The US dollar remains firm after last week's breakout, supported by a hawkish repricing of Fed rate hike expectations and a rebound in US yields, according to MUFG analyst Lee Hardman. Markets now see roughly even odds of a near-term Fed hike, despite falling oil prices amid US-Iran progress.
USD/CAD Breakout Signals Extended Downtrend for Canadian Dollar – SocGen
Societe Generale notes that USD/CAD has surged after breaking a descending trend line in place since last year, indicating a momentum shift and potential breakout from a multi-month range, extending the Canadian dollar's downtrend.
AUD/USD Dips Below 0.7000, Approaches 11-Week Low
The Australian Dollar extends losses against the US Dollar for a fifth consecutive day, trading below the 0.7000 level and nearing an 11-week low.
UK PM Starmer Resigns, Nominations Open July 9
UK Prime Minister Keir Starmer has announced his resignation, stating that nominations for a new leader will open on July 9.
AUD/JPY Holds Near 113.10 on Carry Trade Demand
The Australian dollar remains firm against the yen, trading around 113.10 during European hours, supported by ongoing carry trade flows.
UK PM Starmer resigns, nominations open July 9
UK Prime Minister Keir Starmer has announced his resignation, with nominations for a new leader opening on July 9.
UOB: AUD/USD Downward Bias Toward 0.6980
UOB analysts maintain a negative outlook on AUD/USD, targeting a move toward 0.6980 following a quiet period in the pair.
US Dollar Rallies on Middle East Tensions, Inflation Expectations
The US Dollar strengthened at the start of the week amid escalating geopolitical tensions in the Middle East, rising inflation expectations, and weakness in major rivals like the British pound due to an impending change in prime minister.
Dollar Steady in Asian Trading as US Markets Reopen After Holiday
The dollar held steady during Monday's Asian session after a long weekend in the US. With no high-impact data due, fundamentals and risk appetite are expected to drive the greenback.