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Gold Trades Sideways as Markets Await Fed Guidance, US-Iran Peace Deal
Gold (XAU/USD) is little changed around $4,332.60 on Wednesday as investors stay cautious ahead of the Federal Reserve's monetary policy guidance and ongoing US-Iran peace negotiations.
USD Range Trading Persists as Fed Holds Steady – Societe Generale
Societe Generale strategists note the US economy shows resilient growth with sticky inflation, keeping the Fed on hold and USD range-bound. Market pricing still leans toward a rate hike in early 2025.
Yen Mildly Gains as USD/JPY Hovers Near 160 Intervention Zone
The Japanese Yen edged higher against the US Dollar on Wednesday, with USD/JPY easing to 160.20, still above the 160.00 level considered the threshold for potential intervention by Japanese authorities. Focus remains on the Federal Reserve's policy outlook.
RBA Holds Rate at 4.35%, Signals Tightening Bias Amid Slowing Growth
The Reserve Bank of Australia kept its cash rate at 4.35%, retaining a tightening bias but acknowledging slowing growth and rising unemployment, pointing to a prolonged plateau.
Societe Generale Sees Diverging Oil Normalization After US-Iran Deal
Societe Generale analysts note that Brent oil prices are normalizing after the US-Iran deal, but highlight differing adjustments across spot, volatility, and options markets.
RaboResearch: UK CPI and Labour Data Weigh on Pound Outlook
RaboResearch notes softer UK inflation and signs of spare capacity in the labour market, which may influence the Bank of England's stance and weigh on the British Pound.
RBA Holds Rate at 4.35%, AUD/USD Little Changed – UOB
The Reserve Bank of Australia kept its cash rate unchanged at 4.35% after three consecutive 25 bps hikes. AUD/USD remained steady as the RBA adopted a hawkish pause, according to UOB Global Economics & Markets Research.
Fed Set for Hawkish Pivot as Warsh Chairs First FOMC Meeting
The Federal Reserve is expected to adopt a hawkish stance at its upcoming meeting, with Kevin Warsh chairing for the first time, despite positive headlines from the Iran conflict.
BoJ Rate Hike Fails to Boost Yen, OCBC Says
The Bank of Japan's widely anticipated 25 basis point rate hike to 1.0% and confirmation of tapering ending in 2027 provided only limited support for the yen, according to OCBC's Christopher Wong.
Binance Disputes Report of Imminent MiCA License Rejection in Greece
Binance pushes back against a Reuters report claiming Greek regulators are poised to deny its MiCA crypto license, saying its application has been deemed compliant and that a final decision is pending.
Riksbank Holds Rate at 1.75%, Signals Increased Hike Probability
Sweden's Riksbank kept its policy rate unchanged at 1.75%, in line with expectations, but indicated a higher probability of a rate hike later this year compared to its March assessment.
ING Sees Cyclical Drivers Fuelling US Dollar Strength into Coming Months
ING strategists say cyclical factors have reasserted themselves in FX markets, supporting a stronger US dollar over the next several months.
UK Food Inflation Benign, CPI Below 3% Despite Middle East Risks
UK food inflation remained remarkably benign in May, keeping the consumer price index below 3%. However, the Middle East crisis poses a risk of pushing costs higher later this year, with energy prices potentially driving inflation to a peak of around 3.5%.
Gold Awaits Fed Decision as USD Retreats on Geopolitical Easing
The US Dollar continues to decline amid easing geopolitical risks and fading concerns over Kevin Warsh's dovish stance. Trump claims the Iran agreement is finalized, pushing Brent below $80 and boosting US stocks, while gold markets await the Fed's next move.
Warsh Guidance Shapes Dollar Outlook, MUFG Says
MUFG analyst Derek Halpenny notes that Fed Chair Kevin Warsh's first post-FOMC press conference is key for the dollar outlook, as a sharp drop in Brent oil eases near-term inflation risks.
Silver Dips as Fed Decision and US-Iran Truce Weigh on Sentiment
Silver (XAG/USD) edged lower on Wednesday, trading near $69.85, down 0.25%, as traders await the Federal Reserve's policy decision and monitor a potential US-Iran truce.
Euro Struggles as ECB Rate Hike Fully Priced – ING
ING’s FX team notes that a fully priced ECB rate hike limits Euro upside, and further hawkishness may not boost EUR/USD.
Silver Falls to $69.70, Down 0.47% on Wednesday
Silver prices declined on Wednesday, trading at $69.70 per troy ounce, a drop of 0.47% from the previous close of $70.03, according to FXStreet data.
Oil Plunge Below $80 Reshapes Fed Inflation Risk View – MUFG
MUFG’s Derek Halpenny notes that Brent crude falling below $80 and a 30% monthly drop have significantly lowered near-term inflation risks for the Fed.
Bitcoin Sharpe Ratio Hits -20, Historically Marking Price Bottom
Bitcoin's Sharpe ratio dropped to -20 on June 11, a level that historically signals a price bottom and the start of accumulation. Exchange reserves fell by 80,000 BTC since February, while long-term investors doubled their buying pace.
Slovak Economy Enters 2026 with Subdued Growth
The Slovak economy started 2026 with weak growth, as household consumption increased only moderately and investment posted a sharp decline. Full-year economic expansion is expected to remain subdued.
WTI Holds Losses Near $75.60 on Easing Supply Concerns
West Texas Intermediate crude oil prices remain subdued for a fifth consecutive session, trading around $75.60 per barrel as easing supply concerns weigh on the market.
AUD/USD Faces Deeper Pullback After RBA Pauses Rate Hikes
The Australian Dollar weakened against the US Dollar after the Reserve Bank of Australia held its cash rate steady, ending a streak of rate hikes and triggering a corrective decline from near the 0.7000 level.
US-Iran Peace Agreement Hopes and Fed Day in Focus
Expectations that the US and Iran will sign a peace agreement on Friday have boosted market sentiment, with 60 days of talks planned. Markets also await the Federal Reserve's latest decision.