News

United States 10-Year Note Auction climbed from previous 4.538% to 4.58%

Source  Fxstreet1783530197
United Kingdom: Market watching Burnham – Rabobank

Rabobank's Senior FX Strategist Jane Foley discusses UK political dynamics, noting Burnham’s likely unchallenged path to becoming Prime Minister on July 20 and his popularity within Labour.

Source  Fxstreet1783522431
British Pound: Recovery eyes 1.36 against US Dollar – Scotiabank

Scotiabank strategists Shaun Osborne and Eric Theoret note the British Pound (GBP) is slightly softer but supported by a sharp repricing of Bank of England (BoE) tightening.

Source  Fxstreet1783521710
India: Gradual firming CPI supports RBI patience – Societe Generale

Societe Generale strategist Kunal Kundu expects India’s June 2026 headline Consumer Price Index (CPI) inflation to print around 4.1% year-on-year, slightly above May’s 3.9% but still within the RBI’s tolerance band.

Source  Fxstreet1783520158

United States Wholesale Inventories registered at 0.1%, below expectations (0.3%) in May

Source  Fxstreet1783519201
United Kingdom: Early election scenarios – Standard Chartered

Standard Chartered analysis by Christopher Graham and Saabir Salad discusses Andy Burnham’s stance against an early UK general election if he becomes prime minister.

Source  Fxstreet1783518457
Donald Trump says US may hit Iran again tonight, doubts deal holds

United States (US) President Donald Trump stepped up his rhetoric against Iran on Wednesday on the sidelines of the North Atlantic Treaty Organisation (NATO) summit, according to comments cited by Reuters.

Source  Fxstreet1783518334
Fed Minutes to shed light on Warsh's first meeting as Chair

The United States (US) Federal Reserve (Fed) will release the Minutes of the June 16-17 Federal Open Market Committee (FOMC) meeting on Wednesday at 18:00 GMT. The Minutes should shed more light on the Fed’s hawkish hold delivered at Kevin Warsh’s first meeting as Fed Chair.

Source  Fxstreet1783516500
United States: Inflation expectations edge higher as oil rises – DBS

DBS Group Research’s Philip Wee reports that the New York Fed’s June Survey of Consumer Expectations showed 1-year inflation expectations rising to 3.7%, with 3-year expectations at 3.3% and 5-year unchanged at 3%.

Source  Fxstreet1783515783
Canada: Trade surplus at four-year high – NBC

National Bank of Canada’s (NBC) strategist Alexandra Ducharme reports Canada’s merchandise trade surplus hit a four-year high in May as exports reached a record C$77.1 billion. Gains were driven by metal ores and non-metallic minerals, while energy exports declined.

Source  Fxstreet1783515100
British Pound: Pound resilience faces political risks – Rabobank

Rabobank's Senior FX Strategist Jane Foley highlights that the British Pound (GBP) has been a strong G10 performer this year, supported by sticky United Kingdom (UK) inflation, Bank of England (BoE) rate expectations and inbound M&A flows.

Source  Fxstreet1783514361
Euro: Political risks but downside bias – ING

Francesco Pesole at ING discusses Euro resilience despite French political developments, including Marine Le Pen’s 2027 bid and expectations of an RN win.

Source  Fxstreet1783513748
US Dollar: Warsh risks skewed to cuts – Commerzbank

Commerzbank’s Antje Praefcke argues that interest rate differentials are again driving the Dollar, with USD reacting strongly to weaker US data as markets reassess new Fed Chair Kevin Warsh.

Source  Fxstreet1783512466
Polish Zloty: Dovish NBP stance weighs on PLN – ING

ING’s Frantisek Taborsky expects the National Bank of Poland (NBP) to keep rates at 3.75% through year-end, with easing delayed until policymakers gain confidence on inflation.

Source  Fxstreet1783511162

United States MBA Mortgage Applications fell from previous 0% to -2.2% in July 3

Source  Fxstreet1783508401

France Current Account rose from previous €-0.2B to €-0.1B in May

Source  Fxstreet1783504802
US Dollar: FOMC minutes to highlight hawkish debate – TD Securities

TD Securities strategists preview the June Federal Open Market Committee (FOMC) Minutes, expecting more insight into the policy debate than provided by Chair Warsh’s press conference.

Source  Fxstreet1783504655
US equities: Inflation tilt persists – BNY

Geoff Yu at BNY highlights that client flows into United States (US) equities remain geared to inflation risk, even as direct inflation-hedge sectors see reduced inflows. BNY’s iFlow equity inflation style indicator shows a wide gap between inflation-sensitive flows and falling breakevens.

Source  Fxstreet1783503762
ECB’s Escriva: Central bank to keep all options on a meeting-by-meeting basis

European Central Bank (ECB) policymaker and Governor of the Bank of Spain, José Luis Escrivá, said on Wednesday that the central bank “will keep all options on the table and decide on a meeting-by-meeting basis.”

Source  Fxstreet1783503329
India: Cheaper Oil supports FY27 deficit target – Standard Chartered

Standard Chartered economists Anubhuti Sahay and Saurav Anand assess India’s FY27 fiscal deficit outlook, highlighting how lower crude Oil prices reduce the risk of fiscal slippage to about 0.2-0.3% of Gross Domestic Product (GDP) versus 0.5% earlier.

Source  Fxstreet1783502989
Oil: Limited war risk keeps Brent capped – DBS

DBS Group Research’s Philip Wee notes that recent Iranian strikes on shipping in the Strait of Hormuz pushed Brent crude from $72 to $76 per barrel and lifted US Treasury 2Y yields, but markets still see no return to full-scale war.

Source  Fxstreet1783502342
Swedish Krona: Weakens against Euro – Societe Generale

Societe Generale’s Kenneth Broux highlights EUR/SEK reclaiming its 200-day moving average and breaking above a base, signalling a short-term uptrend towards 11.11.

Source  Fxstreet1783501725
US Dollar: Fed pricing questioned as disinflation looms – MUFG

MUFG’s Derek Halpenny argues that June FOMC minutes may already be stale as weaker labour data and lower energy prices challenge the Fed’s hawkish dot plot. He sees OIS pricing as too aggressive, with rate hikes over-priced and a rate cut by March 2027 more likely than another hike.

Source  Fxstreet1783501180
Aluminium: Deficit outlook supports rebound – ING

ING’s Warren Patterson and Ewa Manthey note Aluminium has extended gains after hitting a four‑month low, as lower prices attracted Chinese buying.

Source  Fxstreet1783499952
6.8000: Chinese Yuan looks contained despite PBoC push to make Hong Kong main offshore hub

The offshore Chinese Yuan (CNH) is capturing market attention following a sweeping set of structural measures announced by the People's Bank of China (PBoC) to cement Hong Kong’s status as a global offshore hub for the Yuan. 

Source  Fxstreet1783499639
EU Foreign Affairs Chief Kallas condemns Iran’s attacks on Bahrain and Kuwait

European Union (EU) Foreign Affairs Chief Kaja Kallas said during the European trading session on Wednesday that exchanges of fire between the United States (US) and Iran further complicate already fraught talks to end the war.

Source  Fxstreet1783498672
Polish Zloty: Neutral MPC guidance points to underperformance – Commerzbank

Tatha Ghose at Commerzbank expects Poland’s NBP to leave rates at 3.75%, with forwards already reflecting this. With inflation momentum near zero and energy-driven disinflation back, earlier hike bets have been unwound and some analysts now discuss potential easing from Q4 or March 2027.

Source  Fxstreet1783497581
Iran says any location that supports US attacks are legitimate targets

According to the Iranian State Media, Iran's Top Joint Military Command said, “Tehran considers any location that supports United States (US) attacks on Iran as its legitimate target.” However, there has been no official confirmation from other media outlets.

Source  Fxstreet1783497373
Czech Koruna: CNB hawkish bias supports CZK – Commerzbank

Commerzbank’s Tatha Ghose notes Czech headline inflation fell to 1.5% year-on-year, below Czech National Bank (CNB) forecasts, with goods and energy prices soft but services still elevated.

Source  Fxstreet1783494221

Austria Trade Balance up to €-434.1M in April from previous €-563.3M

Source  Fxstreet1783494007
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