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The US Dollar approaches year-to-date lows at 1.3565 as demand for safe havens wanes.Higher Oil prices are acting as support for the Canadian Dollar..Markets are positive that the Trump-Carney meeting might bring some advances on a tariff deal.The USD/CAD recovery attempt seen during Monday’s early trade has failed to find acceptance above 1.3600. The pair retraced gains afterwards, weighed by broad-based US Dollar weakness, and is approaching eight-month lows at 1.3565.The Greenback opened the week on a moderate positive tone, and trimmed some losses, favoured by a significant reversal on Oil prices. The US Benchmark WTI corrected 3% lower on…

Rupee declined 6 paise to 86.17 against the US dollar in early trade on Monday as global crude oil prices continued to surge amid escalating tensions in West Asia.A strong dollar against international currencies and FII outflows further pressured the rupee, while a positive opening at the domestic equity market and an increase in the country’s forex reserves prevented further losses, according to forex traders.At the interbank foreign exchange, the local unit opened at 86.16 before falling further to 86.17 against the greenback, down 6 paise from its previous close. The rupee had plummeted 59 paise to 86.11 against the…

NZD/USD remains silent amid escalating geopolitical tensions in the Middle East.China’s Retail Sales advanced 6.4% YoY in May, against the expected 5.0% rise.Business NZ PSI fell to 44.0 in May from April’s 48.1, marking its lowest level since June 2024.NZD/USD holds gains following the release of mixed economic data from China, trading around 0.6020 during the Asian hours on Monday. The National Bureau of Statistics (NBS) reported that China’s Retail Sales rose 6.4% year-over-year in May, surpassing the 5.0% expected and April’s 5.1% increase. Meanwhile, Industrial Production increased 5.8% YoY but below the 5.9% forecast and 6.1% prior.Moreover, the National…

Gold price gains momentum to around $3,445 in Monday’s early Asian session. Fears of a broader conflict in the Middle East boost the safe-haven flows, supporting the gold price. Traders now see an 80% chance of a Fed rate cut in September. The Gold price (XAU/USD) attracts some buyers to near $3,445 during the early Asian session on Monday. The precious metal rises to over a one-month high due to escalating Middle East tensions and rising bets of a Federal Reserve (Fed) rate cut. Investors ignored the upbeat US economic data released on Friday. Data released by the University of Michigan on Friday showed that the Consumer…

USD/CHF closes Friday up 0.04%, but logs 1.37% weekly drop to 1-month low at 0.8054.Bearish structure persists: lower highs/lows and weak RSI signal continued downside momentum.Key support lies at 0.8054 and 0.8038; breach may expose psychological 0.8000 level.Bulls need a break above 0.8147 to challenge 0.8200 and the 50-day SMA near 0.8257.The USD/CHF ended Friday’s session with gains of over 0.04%, but in the week fell over 1.37% to a one-month low of 0.8054. At the time of writing, the pair trades at 0.8104 due to increased demand for the Dollar amid risk aversion.USD/CHF Price Forecast: Technical outlookThe USD/CHF is…

WTI Oil surges above $72 as Israel-Iran tensions trigger a breakout.Gains for June are near 20%, pushing prices above key Fibonacci levels from longer-term moves.The 12-month moving average provides additional support below $70.WTI crude oil is surging amid escalating geopolitical tensions, with Israel’s recent strikes on Iran fueling a rally that pushed prices above the $74.00 handle on Friday. At the time of writing, WTI is trading just below $72.00 after Iran responded with its own missile barrage, marking a near 20% gain for June and reversing much of the weakness observed earlier this year.Despite broad-based pressure in the first…

The Canadian Dollar found more gains off the back of US Dollar selling pressure.A lack of meaningful Canadian economic data means Loonie gains are at the mercy of market flows.Middle East geopolitical tensions are back on the rise, keeping risk appetite under wraps but boosting Crude Oil prices.The Canadian Dollar (CAD) caught yet another bid on Friday, climbing into new eight-month highs as the US Dollar (USD) holds in place and Crude Oil prices surge. Geopolitical tensions are back on the rise after Israel launched a surprise attack on Iranian nuclear facilities late Thursday, pushing investors off their risk-on perch,…

Euro hit hard despite stable EU inflation data as geopolitical tensions boost US Dollar.Israel’s strike on Iran triggers safe-haven flows into the Dollar; EUR/USD drops from 1.16 to 1.1488 intraday.Tehran cancels nuclear talks; risk sentiment deteriorates, overshadowing soft US inflation.Eurozone industrial output contracts sharply; German CPI steady at 2.1%, but French and Spanish inflation slip below ECB target.EUR/USD ends four-day winning streak, prints losses on Friday as risk appetite takes a hit after Israel launched an attack on Iran, boosting the safe-haven appeal of the US Dollar (USD). At the time of writing, the pair trades around 1.1530, down 0.36%.Sentiment…

The AUD/USD falls on rising geopolitical risks and a lack of fresh fundamental drivers in Australia. The US Dollar gains after Israel attacks Iran’s nuclear facilities, impacting demand for the Australian Dollar.The pair continues to be influenced by monetary policy expectations of both the Reserve Bank of Australia and the Federal Reserve.The Australian Dollar (AUD) is weakening against the US Dollar (USD) on Friday, with price action being guided by a combination of factors. The two primary drivers of the recent move have been increasing geopolitical risks and interest rate expectations, which are likely to continue influencing near-term price movements.At the time…

Bullion rallies to five-week high amid geopolitical tension and dovish Fed outlookIsrael strikes Iran, fueling fears of broader war and driving flight to safety into Gold.XAU/USD hits $3,446 before easing on profit-taking; eyes next week’s Fed decision and US data slate.Gold price rallied for the third consecutive day after the Israel-Iran conflict erupted on Friday, triggering a risk-off mood in financial markets as fears that it could escalate loom. At the time of writing, XAU/USD trades at $3,422, up more than 1%.Several factors underpin bullion. On Friday, Israel’s attack on Iran’s military installations, nuclear facilities and senior officials augmented tension…