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Strait of Hormuz Set to Reopen, How New Fed Chair Warsh Walks a Tightrope Amid Market Expectations?

TradingKey - The Federal Reserve is set to announce its policy decision this Wednesday, which will also be the first rate-setting meeting chaired by the new Chairman, Kevin Warsh. Currently, global in

Source  Tradingkey1781595890
Indonesian Rupiah rises as US Dollar trims recent gains despite risk-off mood

USD/IDR extends its losses for the second successive day, trading around 17,720 during the European hours on Tuesday. The pair loses ground as the US Dollar (USD) pares its daily gains despite prevailing market caution.

Source  Fxstreet1781595697
What is dragging the British Pound toward 1.3100 as political noise and stagflationary pressures mount?

The British Pound (GBP) is facing compounding pressures ahead of the Bank of England (BoE) interest-rate decision on Thursday. Financial markets have pushed back expectations for rate hikes to later in the year, leaving the currency highly sensitive to incoming economic data and geopolitics.

Source  Fxstreet1781595339
Federal Reserve policy: Slight hawkish shift preview – BNY

BNY strategists John Velis and David Tam preview the upcoming FOMC meeting under new Chair Kevin Warsh, expecting slightly hawkish changes to the statement and dot plot.

Source  Fxstreet1781591523
Japan FM Katayama: Government's responsibility rests in appropriately conducting economic, fiscal policies

Japan Finance Minister (FM) Satsuki Katayama said during the European trading session on Tuesday that the government is focused on appropriately conducting economic and fiscal policies.

Source  Fxstreet1781591241

Australia RBA Interest Rate Decision meets forecasts (4.35%)

Source  Fxstreet1781584205
Australian Dollar softens against Japanese Yen as BoJ hikes rate to highest since 1995

The AUD/JPY cross loses traction to around 113.20 during the Asian trading hours on Tuesday. The Japanese Yen (JPY) edges higher against the Australian Dollar (AUD) following the Bank of Japan (BoJ) interest rate decision.

Source  Fxstreet1781581546
Japanese Yen remains stronger as BoJ delivers a rate hike

USD/JPY depreciates after two days of gains, trading around 160.10 during the Asian hours on Tuesday. The pair remains subdued as the Japanese Yen (JPY) holds ground following the release of the interest rate decision by the Bank of Japan (BoJ).

Source  Fxstreet1781580449

Japan BoJ Interest Rate Decision in line with expectations (1%)

Source  Fxstreet1781579995

South Korea Money Supply Growth increased to 8.1% in April from previous 7.2%

Source  Fxstreet1781578801
New Zealand weakens to near 0.5800 as China's Retail Sales fall short of estimates

The NZD/USD pair loses momentum to around 0.5810 during the Asian trading hours on Tuesday. The New Zealand Dollar (NZD) weakens against the US Dollar (USD) following the Chinese economic data. All eyes will be on the US Federal Reserve (Fed) interest rate decision later on Wednesday. 

Source  Fxstreet1781576472
China’s Retail Sales misses expectations in May: What -0.6% means for the Australian Dollar

China’s Retail Sales fell 0.6% year-over-year (YoY) in May vs. 0% expected and 0.2% in April, the latest data released by the National Bureau of Statistics (NBS) showed Tuesday.

Source  Fxstreet1781575331

China Fixed Asset Investment (YTD) (YoY) registered at -4.1%, below expectations (-2%) in May

Source  Fxstreet1781575202

China Industrial Production (YoY) came in at 4.5%, above expectations (4.3%) in May

Source  Fxstreet1781575201

China Retail Sales (YoY) came in at -0.6%, below expectations (0%) in May

Source  Fxstreet1781575201

China House Price Index remains unchanged at -3.5% in May

Source  Fxstreet1781573436
PBOC sets USD/CNY reference rate at 6.8108 vs. 6.8088 previous

On Tuesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.8108 compared to the previous day's fix of 6.8088 and 6.7605 Reuters estimate.

Source  Fxstreet1781572725
US President Donald Trump declares Iran ‘has agreed to never have a nuclear weapon’

US President Donald Trump said that Iran agreed not to ever have a nuclear weapon, the Guardian reported on Tuesday.

Source  Fxstreet1781570618
Japan’s Kiuchi: No comment on market expectations of BoJ rate hike

Japan's Economy Minister, Minoru Kiuchi, said on Tuesday that he will participate in today's Bank of Japan (BoJ) meeting. Kiuchi added that he strongly hopes the central bank communicates and collaborates with govthe government sustainably and stably reach the 2% inflation target.

Source  Fxstreet1781569260
RBA set to keep interest rate steady after three consecutive hikes

The Reserve Bank of Australia (RBA) is widely expected to leave the Official Cash Rate unchanged at 4.35% when it announces its monetary policy decision on Tuesday, marking a pause after three consecutive rate hikes delivered earlier this year.

Source  Fxstreet1781563500

South Korea Import Price Growth (YoY): 24.8% (May) vs 20.2%

Source  Fxstreet1781557201

South Korea Export Price Growth (YoY) rose from previous 40.8% to 46.9% in May

Source  Fxstreet1781557201
"The deal’s all signed”: US President Trump trumpets agreement with Iran

United States (US) President Donald Trump said on Monday that the Iran deal had been signed, adding that the Strait of Hormuz had fully reopened and that Oil prices were falling while stocks were rising. The President made the statement shortly after arriving in Evian, France, for a G7 meeting.

Source  Fxstreet1781542048
Global macro: Growth resilience and policy risks – BNY

BNY’s Bob Savage emphasizes that, despite improved risk sentiment from geopolitical de-escalation, investors remain focused on central bank policy and global growth resilience.

Source  Fxstreet1781532838

United States NAHB Housing Market Index registered at 35, below expectations (36) in June

Source  Fxstreet1781532000

United States Industrial Production (MoM) came in at 0.1% below forecasts (0.3%) in May

Source  Fxstreet1781529319

United States Capacity Utilization meets forecasts (76.2%) in May

Source  Fxstreet1781529319
US VP Vance: We expect Strait of Hormuz to be open toll-free long term

In an interview with CNBC on Monday, United States (US) Vice President JD Vance said that they expect the Strait of Hormuz to be "open toll-free in the long term," per Reuters.

Source  Fxstreet1781527600

Canada Wholesale Sales (MoM) above expectations (0.1%) in April: Actual (0.6%)

Source  Fxstreet1781526604

United States NY Empire State Manufacturing Index below expectations (14) in June: Actual (5.7)

Source  Fxstreet1781526601
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