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The dollar nursed losses on Tuesday on rising investor optimism of a deal being struck to reopen the crucial Strait of Hormuz and end the three-month-long Iran war, although fresh U.S. attacks on Iranian targets weighed on sentiment. Despite low odds of an imminent deal, hopes of peace have pushed oil below $100 a barrel, eased pressure on emerging-market currencies, and boosted risk sentiment. Iran’s top negotiator and its foreign minister were in Doha for talks with Qatar’s prime minister on a potential deal. U.S. President Donald Trump said talks with Iran were going “nicely”, but warned of fresh attacks…
The EUR/USD pair trades in negative territory around 1.1635 during the early Asian session on Tuesday. The Euro (EUR) weakens against the US Dollar (USD) as uncertainty surrounding the US-Iran peace agreement boosts a safe-haven currency. The European Central Bank (ECB) policymaker Olaf Sleijpen and Federal Reserve (Fed) Bank of Minneapolis President Neel Kashkari are set to speak later on Tuesday. Fox News reported that US forces conducted “self-defense strikes” in southern Iran on Monday. US Central Command spokesperson said that American strikes targeted missile launch sites and Iranian vessels aiming to deploy minessites and Iranian boats trying to place mines. The US military…
UOB’s Jester Koh notes that Singapore’s 1Q26 GDP was sharply revised higher and that MTI kept its 2026 growth forecast at 2.0–4.0%. The bank raises its 2026 GDP forecast to 3.2%, citing sustained AI-related demand and strong electronics indicators. However, it highlights significant downside risks from Middle East-related supply disruptions and a weaker global backdrop.AI demand lifts Singapore growth outlook”Outlook – We raise our 2026 GDP growth forecast to 3.2% (from 2.5% prev; 2027F: 2.1%), incorporating the 1Q outperformance alongside sustained AI-related tailwinds, as evidenced by the improvement in the Apr electronics PMI (51.7; Mar: 51.4), driven by increases in…
UOB’s Quek Ser Leang and Lee Sue Ann expect USD/SGD to edge lower and test 1.2760 in the near term, though a sustained break below that level is unlikely. They maintain a 1–3 week range-trading view between 1.2730 and 1.2820, with major support at 1.2730 seen as intact.Dollar-Singapore Dollar stays range bound”24-HOUR VIEW: While we expected USD to edge lower and test 1.2760 last Friday, we stated that “a continued decline below this level is unlikely.” We added, “resistance is at 1.2795; a breach of 1.2805 would indicate that the current mild downward pressure has eased.” However, USD traded in…
The Indian rupee appreciated 35 paise to close at 95.25 against the US dollar on Monday, marking its third straight session of gains amid optimism over a possible US-Iran peace agreement and easing crude oil prices. The rupee appreciated 35 paise to close at 95.25 (provisional) against the US dollar on Monday, registering the third straight session of gain, on optimism that the US and Iran were moving close to a peace deal even though they remained at odds over key issues, including blockades on the Strait of Hormuz.Forex traders said the rupee registered its third straight session of gain…
The Indian rupee strengthened for the third consecutive session on Monday, its longest winning streak in a month, powered by market interventions by the central bank and a slump in crude oil prices on hopes of a U.S.-Iran peace deal. The rupee closed at 95.23 per dollar, up over 1.5% since Wednesday, when it had hit a record low of 96.96 per dollar. The Reserve Bank of India’s dollar-selling intervention helped the rupee bounce back from its record low last week and optimism over a potential breakthough in negotiations between Washington and Tehran shored up the currency further on Monday.…
Gold (XAU/USD) remains well bid above the $4,550 level through the first half of the European session on Monday, albeit it remains below the top boundary of a nearly one-week-old range amid mixed fundamental cues. Developments over the weekend spurred hopes for a potential US-Iran peace deal, undermining the US Dollar’s (USD) reserve currency status and lending support to the commodity. The US and Iran, however, remain at odds over key issues. This, along with hawkish US Federal Reserve (Fed) expectations, helps limit the USD losses and keeps a lid on any further gains for the non-yielding yellow metal.Axios reported…
The Rupee opened 35 paise stronger on Monday as crude oil prices declined on prospects of the US and Iran reaching a peace deal brightened and RBI Governor Sanjay Malhotra reportedly stating that the Rupee may be undervalued.The Indian currency opened at 95.34/35 per US Dollar against the previous close of 95.69/70. The Rupee is currently trading at 95.29. In intraday trading so far, it hit a high of 95.20 and a low of 95.44, per CCIL data.The US and Iran are inching close to a peace agreement, brightening the possibility of the arterial Strait of Hormuz being opened up…
AUD/USD advances after two days of losses, trading around 0.7160 during the Asian hours on Monday. The technical analysis of the daily chart indicates that the pair moves within the rectangle pattern, suggesting a consolidation.The AUD/USD pair is holding a modest bullish bias as it stays above the 50-period Exponential Moving Average (EMA) and marginally over the short-term nine-period EMA. This configuration suggests the pair remains underpinned by its medium-term trend, while the 14-day Relative Strength Index (RSI) near 51 hints at neutral-to-slightly positive momentum, allowing for further gains as long as price holds above these nearby dynamic supports.The AUD/USD…
The USD/JPY pair declines to near 158.90 during the early Asian session on Monday. Progress in talks between the United States (US) and Iran to bring an end to the Middle East conflict drags the US Dollar (USD) against the Japanese Yen (JPY).Senior US officials stated on Sunday that the US and Iran are closing in on a deal that would reopen the Strait of Hormuz, per Bloomberg. US Secretary of State Marco Rubio said that an agreement with Iran had garnered regional support, but key issues couldn’t be achieved “in 72 hours on the back of a napkin”. His…