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Fed's Hawkish Tilt Unsettles Markets; Focus Turns to PCE, PMIs
New Fed Chair Kevin Warsh's first FOMC meeting prioritized inflation control, unsettling markets despite easing geopolitical risks. This week's focus shifts to PCE inflation and PMI data.
Japanese Yen Near 40-Year Lows as Intervention Speculation Intensifies
The Japanese Yen remains under pressure against the US Dollar, trading near multi-decade highs as traders speculate on potential intervention.
BBH: Political Risks Cap GBP/USD Recovery
A BBH analyst notes GBP/USD bounced after holding above its late-March low, but political risks continue to cap further gains.
WTI Pauses Decline as Crude Shipments Resume Through Strait of Hormuz
West Texas Intermediate (WTI) crude oil stabilized around $75.60 on Friday, recovering slightly after crude shipments resumed through the Strait of Hormuz, though the commodity remains under pressure from earlier sharp declines.
DXY Eases from 101.13 High but Holds Near Yearly Peaks
The US Dollar Index edged lower from its 101.13 high during Friday's European session amid thin trading due to a US bank holiday and ongoing uncertainty over the US-Iran peace deal.
Market Holiday Slows Activity; Iran-US Talks Postponed; Burnham Wins MP Seat
Low trading activity due to a market holiday, while Iran-US talks in Switzerland have been postponed. In UK politics, Andy Burnham wins a seat as MP ahead of a potential leadership challenge.
Ebola Outbreak in Congo: Dozens of Healthcare Workers Infected, Chinese Team Arrives
Conflicting reports from the WHO indicate dozens of healthcare workers in Congo have been infected with Ebola, with varying death tolls. A Chinese medical team has arrived on the ground, and Uganda is preparing its own response team.
Silver Falls 0.99% to $65.06 on Friday
Silver prices (XAG/USD) fell 0.99% on Friday, trading at $65.06 per troy ounce, down from $65.71.
Fed Holds Rates, Dot Plot Signals Possible 2026 Hike, Dollar Gains
The Federal Reserve kept the federal funds rate at 3.5-3.75% as widely expected, but the updated dot plot revealed a higher likelihood of at least one rate hike by the end of 2026, pushing the dollar higher.
USD/CHF Fails to Break 0.8100 but Bullish Trend Intact
USD/CHF extended its rebound from the 0.7900 level for a third consecutive day but stalled near the 0.8100 YTD peak, with analysts pointing to intact bullish potential.
GBP/USD Breaks April Trendline, Societe Generale Sees Further Losses
Societe Generale analysts report that GBP/USD has broken below its ascending trendline from April 2025 and is extending declines, pointing to deeper losses ahead.
Rabobank: Global Rates Converging at Slightly Restrictive Levels
Rabobank notes that unchanged rates in the UK and US contrast with recent ECB and Bank of Japan hikes, but argues this is less divergence than it appears, with global rates converging at slightly restrictive levels.
Dollar Index Breakout Fueled by Hawkish Fed Repricing – Societe Generale
The US Dollar Index (DXY) has broken above 101.00, supported by a hawkish shift in Fed pricing, according to Societe Generale’s Kenneth Broux.
Rabobank: Strait of Hormuz Risks Ease but Fees Loom
Rabobank reports that a 60-day US-Iran memorandum of understanding has reduced immediate risks of a Strait of Hormuz closure, but shipping fees remain a concern.
NZD/USD Extends Decline, Bears Target YTD Low at 0.5680
The New Zealand Dollar fell to a fresh low of 0.5724 against the US Dollar, with bears now eyeing the year-to-date low of 0.5680 as USD strength continues.
USD/JPY Uptrend Intact as 162 Resistance Nears – SocGen
Societe Generale's Kenneth Broux notes USD/JPY has resumed its advance after holding a multi-month trendline near 157.40 and breaking out of consolidation, approaching the 2024 peak near 162.
EUR/USD Slips to Lowest Since March 2026 as USD Gains on Hawkish Fed Bets
EUR/USD fell to its lowest level since March 31, 2026, near 1.1457, as growing expectations of further Federal Reserve tightening boosted the US dollar.
AUD/USD Vulnerable Near 0.7000, Key Fibonacci Level in Focus
AUD/USD remains under pressure around the 0.7000 handle after a brief recovery from a one-week low. Traders watch for a break below the 61.8% Fibonacci retracement level.
Sandia Labs and Quantinuum Publish Paper on 98-Qubit Helios Quantum Processor
Sandia National Laboratories and quantum computing developer Quantinuum have published a peer-reviewed paper on their 98-qubit Helios quantum processor, achieving high gate fidelities.
Silver Extends Losses Near $64.50 as US-Iran Hope Fades
Silver price (XAG/USD) trades lower for a third consecutive day, hovering around $64.70 during European hours on Friday, weighed down by revived inflation concerns and fading optimism over US-Iran peace talks.
USD/JPY Rises to 161.30, Highest Since 2024, Surpassing Intervention Level
USD/JPY climbed to 161.30 on Friday, its highest level since 2024, moving well beyond the level that previously triggered a suspected intervention in April.
GBP/JPY Bounces Off One-Month Low on Upbeat UK Data, but Risks Remain
GBP/JPY found support at a one-month low after upbeat UK data emerged, but the cross remains under pressure and may not be out of the woods yet.
USD/CAD Hits 14-Month Highs Above 1.4150, Bullish Bias Prevails
USD/CAD extended its rally for a seventh consecutive session, trading near 1.4140 during European hours. Technicals show the pair moving within an ascending channel, reinforcing the bullish outlook.
Deutsche Bank: Dollar strength weighs on EUR/USD
Deutsche Bank reports that the Dollar Index rose 0.65% to 100.98, pushing EUR/USD down to 1.144, as US Treasuries partially retraced recent Fed-driven losses.