XAU/USD retreats from a two-week peak as the USD strengthens amid heightened Strait of Hormuz risks and Fed rate cut expectations ease. Gold (XAU/USD) retreated below $4,200 after briefly touching a two-week high, pressured by a stronger US Dollar (USD) driven by geopoliti
The bank now expects the yen to weaken further, citing persistent US-Japan rate differentials and Japanese fiscal pressures. Goldman Sachs lowered its one-year USD/JPY forecast to 165 from 155, marking one of the most bearish calls on the yen among major institutions. The
ASB expects the Reserve Bank of New Zealand to keep the OCR unchanged, diverging from other major banks predicting a 25bp hike. ASB predicts the Reserve Bank of New Zealand will hold the Official Cash Rate at 2.25% at its July 8 review, contrary to market expectations of a
The New Zealand Dollar weakens after a 1.0% decline in the ANZ World Commodity Price Index for June. NZD/USD retreated to 0.5690 in Asian trading on Monday, reversing two days of gains. The decline follows a 1.0% drop in the ANZ World Commodity Price Index for June, driven
New Zealand Dollar weakens as economists project Official Cash Rate rising to 3.00%-3.25% within a year despite near-even split on July decision. The New Zealand Dollar (NZD) fell against the USD, trading at 0.5690 in Asian hours, reversing two days of gains. The decline f
Geopolitical risks in the Strait of Hormuz support the USD, capping gains in the GBP/USD pair despite softer Fed rate hike bets. The GBP/USD pair remains range-bound near 1.3350 in early Asian trading, failing to extend last week’s rally. Spot prices stay below the 200-day
Binance stops trading services in France and other European countries Binance has stopped offering trading services in France and several other European countries from July 1. The company failed to obtain a MiCA license in time. French users can now only withdraw
The Japanese Yen weakens for a second day amid rising import costs despite 10-year JGB yields reaching 30-year highs. The Japanese Yen (JPY) extended losses against the US Dollar (USD), trading near 161.60 in Asian hours on Monday. Surging import costs continue to pressure
New Zealand exporters face currency headwinds despite global commodity price gains, with aluminium and wool leading annual increases. ANZ’s World Commodity Price Index rose 0.7% month-on-month in May and 1.3% year-on-year, driven by sharp gains in wool, aluminium, and beef
The People’s Bank of China sets the daily USD/CNY reference rate higher than analyst expectations, signaling potential yuan weakness. The People’s Bank of China set the USD/CNY reference rate at 6.8066, above the Reuters estimate of 6.7850. The yuan is permitted to trade w
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