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Breaking: Iran closes the Strait of Hormuz amid ceasefire deal violation
Iran says it is closing the Strait of Hormuz after accusing the United States (US) and Israel of violating the ceasefire. According to Iran, the decision came over the continued Israeli strikes in Lebanon.
Brent at $80: Did the market buy the Iran deal twice?
Brent is back near $80 and West Texas Intermediate near $77, which means the Oil market has handed back almost the entire premium it built over nearly four months of open war with Iran.
The Canadian Dollar ditches Crude Oil for Gold
The textbook calls the Canadian Dollar a petro-currency, which means that with a Middle East war keeping Crude Oil bid, the Loonie should be holding its own.
The Euro sinks on its own rate hike
The Euro did something this week that ought to be impossible: it fell in the same fortnight the European Central Bank (ECB) delivered its first interest rate hike since 2023.
The Australian Dollar looks for an excuse to break ranks
The Australian Dollar spent this week as a passenger in someone else's trade.
Gold answers to the Fed, not the fear
Gold is supposed to be the asset you want when the world looks dangerous, which makes this week's price action quietly remarkable.
The US Dollar remembers how to rally
The US Dollar Index (DXY) spent the back half of this week doing something most desks had written off six months ago: rallying on the prospect of a Federal Reserve (Fed) rate hike.
Forecasting the upcoming week: US Dollar loses momentum ahead of key US inflation data
The week ahead will bring a fresh test for major currency pairs as investors digest the first Federal Reserve (Fed) policy decision under Chair Kevin Warsh and look ahead to the United States (US) Personal Consumption Expenditures (PCE) data, global PMI releases, and central-bank commentary.
Silver Price Forecast: XAG slides below 200-day SMA, bears target $61
Silver (XAG/USD) price tumbles for the third consecutive trading day, down over 3.32% on Friday, courtesy of broad US Dollar (USD) strength and rising US Treasury yields, which have aimed higher since Wednesday amid the Fed's hawkish tilt.
USD/CAD Price Forecast: Uptrend intact as bulls eye 1.4200
The USD/CAD pair rises during the North American session, up 0.27% on Friday and over 1.34% for the week, with the pair remaining upward-biased and set to test higher prices seen last year. At the time of writing, the pair trades at 1.4175, after bouncing off daily lows of 1.4131.
Australian Dollar trades little changed as hawkish Fed and RBA outlooks collide
AUD/USD trades little changed on Friday as hawkish policy signals from both the Federal Reserve (Fed) and the Reserve Bank of Australia (RBA) offset each other, keeping the pair range-bound despite a modest pullback in the US Dollar (USD).
Gold price extends selloff as Fed repricing lifts USD and yields
Gold (XAU/USD) price edges lower by some 1.69% on Friday, poised to end with losses for the third consecutive week.At the time of writing, XAU/USD trades at $4,147, weighed by overall US Dollar strength sparked by the Federal Reserve's (Fed) decision to keep interest rates higher for longer.
NZD/USD Price Forecast: Pair slumps further below 200-day SMA, eyes on 0.5700
The New Zealand Dollar (NZD) dives for the third consecutive day on Friday, down in the week by over 1.48%, after hitting two-month lows of 0.5722 against the Greenback. The NZD/USD pair trades at 0.5738, down 0.25% on the day.
Japanese Yen pares losses as US Dollar momentum fades despite hawkish Fed stance
The USD/JPY pair trades near 161.00 on Friday, easing slightly after reaching a two-year high of 161.81 on Thursday, and breaking a five-day winning streak for the US Dollar (USD).The Japanese Yen (JPY) remains fragile as pressure mounts over a possible new intervention by authorities to strengthen
Swiss Franc sinks by design, not by peace
The Swiss Franc is the weakest major into the weekly close, dragging USD/CHF to a fresh high for the year. The tidy explanation is a wartime safe-haven bid unwinding now that the US and Iran have struck a deal; the trouble is that the Franc was never much of a haven in this war.
USD/CHF Price Forecast: RSI nears overbought territory as the pair climbs to near seven-month highs
USD/CHF extends gains on Friday even as the US Dollar (USD) eases slightly after rising to more than one-year highs. Diverging monetary policy expectations between the Federal Reserve (Fed) and the Swiss National Bank (SNB) keep demand tilted toward the US Dollar over the Swiss Franc (CHF).
Pound Sterling Price News and Forecast: GBP/USD rebounds as holiday-thinned trade slows USD bulls
The Pound Sterling recovers some ground after reaching a three-month low on Friday at 1.3163, sponsored by the Fed’s hawkish tilt, but edges up 0.18% amid thin trading conditions due to a holiday in the US. The GBP/USD trades at 1.3226, yet it is poised to end with weekly losses of 1.25%.
New Zealand Dollar extends decline as Fed tightening expectations support US Dollar
NZD/USD trades around 0.5740 at the time of writing on Friday, down 0.28% on the day, as the US Dollar (USD) continues to benefit from expectations of a restrictive monetary policy stance in the United States (US).
British Pound rebounds as holiday-thinned trade slows USD bulls
The Pound Sterling (GBP) recovers some ground after nearing a three-month low on Friday at 1.3163, sponsored by the Federal Reserve's (Fed) hawkish tilt, but edges up 0.18% amid thin trading conditions due to a holiday in the US.
Euro steadies as the US Dollar eases, but hawkish Fed bets limit upside
EUR/USD stages a rebound on Friday as a pullback in the US Dollar (USD) helps the Euro (EUR) stabilize after recent losses. At the time of writing, the pair trades around 1.1470 after bouncing from a three-month low of 1.1417 touched earlier in the day.
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