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AUD/USD slips below 0.6480 as July RBA rate cut bets drag the Australian Dollar lowerThe US Dollar holds firm as Trump delays Iran bombing decision, but ongoing Middle East tensions sustain safe-haven demand.AUD/USD traders await Fed Daly’s speech and June PMI data, key weekend events that could guide the direction of next week.The Australian Dollar (AUD) remains under pressure against the US Dollar (USD) on Friday, with AUD/USD trading near 0.6480 at the time of writing. Global risk sentiment continues to deteriorate, supporting safe-haven demand for the US Dollar, while domestic weakness and dovish expectations from the Reserve Bank of Australia…
INR recovers slightly on Friday, lifted by gains in domestic Stocks and a softer US Dollar.Brent Crude Oil trims recent gains but holds a weekly rise of over 4% so far as Middle East tensions persist.Equity benchmarks Sensex and Nifty rally over 1% each, snapping a three-day losing streak.The Indian Rupee (INR) snaps its three-day losing run against the US Dollar (USD) on Friday, recovering modestly after hitting a three-month low the previous day. A softer Greenback and a pullback in Crude Oil prices lent support to the Rupee, as traders digest US President Donald Trump’s two-week delay to decide…
Gold finds support from Trump’s Iran deadline, but US Dollar recovery limits gains.The US Dollar strengthens as markets balance safe-haven flows with evolving rate cut expectations.XAU/USD remains steady as Fed rate cuts are already priced in, but broader central bank caution tempers momentum.Gold (XAU/USD) is edging lower on Friday, trading around $3,368 at the time of writing, as the yellow metal extends its pullback from the weekly high near $3,452 recorded on Monday.However, the broader macro backdrop still favours Gold in the medium term, with ongoing demand from central banks and persistent geopolitical risks offering support. Notably, the World Gold Council…
The euro remains modestly bid against the US Dollar on Friday, amid a softer Greenback and calmer risk tone.US President Trump’s cautious stance on the Israel–Iran conflict reduces fears of immediate escalation, weighing on safe-haven flows.The EUR/USD holds near 1.1510, slightly below the intraday high of 1.1535, while the DXY slips back under 99.00.The Euro (EUR)edges up modestly against the US Dollar (USD) on Friday, capitalizing on a softer Greenback as traders digest a cautious geopolitical signal from the White House. US President Donald Trump’s plan to decide within two weeks on possible US involvement in the Israel–Iran conflict has…
US dollar has lost more than 11% against the euro and about 8% against the Japanese yen so far this year. The escalating West Asian conflict is likely to help the dollar hold on to its haven role — but only just, the latest Bloomberg Pulse survey shows. A little more than half of 251 respondents think the US currency will regain its status as a safe asset as Iran and Israel continue to carry out attacks on each other. Yet participants also see the Bloomberg Dollar Spot Index falling over the next month, according to the poll conducted June 13-18. “While…
The Euro slips modestly against the British Pound on Friday, despite a weak UK retail sales print.UK retail sales drop 2.7% in May, the sharpest monthly fall since December 2023.EUR/GBP trades near 0.8530, pulling back slightly from recent two-month highs.The Euro (EUR) edges lower against the British Pound (GBP) on Friday, unable to capitalize on disappointing UK retail sales data released earlier in the day. However, the British Pound remains resilient, still drawing support from the Bank of England’s(BoE) decision to keep its key interest rate unchanged on Thursday, which has helped anchor expectations for a cautious policy path ahead.The…
In an interview with CNBC on Friday, Federal Reserve (Fed) Governor Christopher Waller said that the Fed is in a position to cut the policy rate as early as July, per Reuters.Key takeaways”Central banks should look through tariff effects on inflation.””I do not think inflation impact from tariffs will be big, trend is looking good.””Not sure if committee would go along but the data is good, unemployment is low, inflation is close to target.””The Fed has room to bring rates down and then can see what happens with inflation.””The process should start slow to be sure there are no surprises,…
The rupee appreciated by 14 paise to close at 86.59 (provisional) against the US dollar on Friday aided by a fall in global crude oil prices and a weakening greenback. A strong show in the domestic equity markets, and FII inflows further supported the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 86.65 against the US dollar and traded in a narrow range of 86.55-86.67 before settling at 86.59 (provisional), up 14 paise. The rupee had lost 30 paise to close at an over two-month low of 86.73 against the dollar on Thursday,…
Europe’s common currency looking like a key beneficiary as the region’s markets benefit from billions in government stimulus spending. | Photo Credit: Lazy_Bear There’s been a shift in trading volumes. Around 15 per cent to 30 per cent of contracts tied to the dollar versus major currencies were switched to the euro, looking at data from the Depository Trust & Clearing Corporation for the first five months of this year versus the final five months of 2024. There are also signs the euro is being used as a haven — traditionally the dollar’s role — and for bets on big…
Though geopolitical tensions were the main market focus this week, concerns about tariffs and the impact they may have on costs, corporate margins and overall growth are ever-present | Photo Credit: YURIKO NAKAO Highlights Fears of US involvement in Middle East conflict spark demand for dollar Oil prices, war and tariffs cloud central banks’ policy outlook China keeps benchmark rates unchanged as expected in June The dollar was set for it’s biggest weekly rise in over a month on Friday, as uncertainties about a raging war in the Middle East and the potential repercussions for the global economy fuelled an…