FX

Gold-backed exchange-traded funds (ETFs) reported net inflows of gold for the second straight month in June. With European funds leading the way, net gold holdings by ETFs globally increased by 17.5 tons last month. May was the first month of positive flows into ETFs in 12 months. ETFs globally hold 3,105.5 tons of gold. Assets

AUD continued its upswing on Thursday against USD. Markets adjust their stance on the Federal Reserve following US inflation figures. RBA’s reluctance to initiate rate cuts due to stubbornly high inflation provides stable support for Aussie. The Australian Dollar (AUD) carried on with its positive trend against the USD on Thursday, rising to 0.6780 after

FX option expiries for July 11 NY cut at 10:00 Eastern Time, via DTCC, can be found below – EUR/USD: EUR amounts 1.0650 1.5b 1.0700 2.8b 1.0745 1.5b 1.0770 1.8b 1.0815 758m 1.0860 989m 1.0900 1.3b – USD/JPY: USD amounts                      159.50 455m 160.00 567m 160.20 832m 161.00 1.5b 161.50 901m 162.35 690m – USD/CHF: USD amounts      0.8935 696m

A vacillating session saw the Greenback extend its weekly consolidation amidst erratic performance in the risk complex, as investors evaluated another congressional testimony by Chair Powell prior to the publication of US CPI data. Here is what you need to know on Thursday, July 11: The USD Index (DXY) kept the vacillating mood just above

The Japanese Yen defends gains as the US Dollar turns south ahead Fed Chair Powell’s second testimony. Powell stated that a rate cut is not appropriate until the Fed gains confidence that inflation is moving toward 2%. The Bank of Japan is poised to assess a viable strategy for scaling back its government bond purchases. The

US Dollar regained some ground afterJerome Powell’s comments. Market retains confidence in a September rate cut. Investors await June’s CPI snapshot of US inflation on Thursday. The US Dollar staged a minor comeback and the DXY rose to 105.20, courtesy of Federal Reserve (Fed) Chairman Jerome Powell’s recent congressional comments, which shied away from embracing

The Pound Sterling holds gains against the US Dollar with a focus on Fed Powell’s testimony. BoE’s Haskel argued in favor of holding interest rates steady at their current levels. This week, investors will pay close attention to the US CPI and UK factory data. The Pound Sterling (GBP) ranges above 1.2800 against the US

Mexican Peso rallies as USD/MXN drops below 18.00 and hits lowest level since June 25. June’s CPI report, Consumer Confidence, and Industrial Production to shape Mexico’s economic outlook. Banxico minutes likely to signal patience on rate cuts amid steady inflation expectations. The Mexican Peso rallied sharply against the US Dollar as the USD/MXN fell below

USD/CHF falls below 0.9000 amid a weak US Dollar. The Fed is expected to start lowering interest rates in September. Easing Swiss inflation has boosted prospects of more rate cuts by the SNB. The USD/CHF pair extends its losing streak for the fourth trading day on Monday. The Swiss Franc asset stays below the psychological

EUR/USD clipped into 1.0840 after broad-market risk appetite rally after US NFP print. Sharp NFP revisions have reignited hopes for a September Fed rate cut. Coming up next week: Fed Chair Powell, US CPI print, German Retail Sales. EUR/USD whipsawed after a mixed US Nonfarm Payrolls (NFP) print on Friday before settling on the high

NZD/USD edged higher and closed above the 20 SMA support around 0.6120. With the technical outlook now showing signs of bullishness, the pair tests resistance around the 0.6150 level. On Friday, the NZD/USD saw gains of 0.40% to 0.6050, as it managed to close above the 20, 100, and 200-day Simple Moving Averages (SMA). As

Gold price leaped over 1% to $2,385, spurred by mixed US NFP data and heightened Fed rate cut speculation. June NFP surpasses forecasts, yet revisions for April and May indicate an accelerating labor market cooldown. US Dollar Index (DXY) declines 0.16% to 104.95; 10-year Treasury yield drops more than six basis points to 4.284%. The

Despite Pound Sterling’s (GBP) limited reaction to the UK election result, the drop in the value of the US Dollar (USD) over the past couple of sessions has allowed the GBP to move into the position as best performing G10 currency in the year to date, senior FX strategist at Rabobank Jane Foley notes. GBP/USD

In its Semi-Annual Monetary Policy Report published on Friday, the Federal Reserve (Fed) noted that they have seen modest further progress on inflation this year but added that they still need greater confidence before moving to rate cuts, pre Reuters. Key takeaways “Labor supply and demand resembles period right before the pandemic, when the labor market was

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Canadian Dollar stretched into a third day of gains against the Greenback. Canada is absent from the economic calendar on Thursday. US markets are also shuttered for the holiday, leaving a lull in market volume. The Canadian Dollar (CAD) rose into a third consecutive day of gains against the US Dollar as Thursday markets grind

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Canadian Dollar climbs a third of a percent against Greenback after sour data patch. Canada economic data remains thin until Friday’s labor figures. US data broadly softens, propping up rate cut hopes. The Canadian Dollar (CAD) gave a shaky performance on Wednesday. The Loonie was mixed against a basket of major currencies but notably climbed