News

United Kingdom RICS Housing Price Balance below forecasts (-30%) in June: Actual (-33%)

Source  Fxstreet1783551661
Chinese Yuan: Downside bias as momentum improves against US Dollar – UOB

United Overseas Bank’s (UOB) Senior Technical Strategist Quek Ser Leang notes that USD/CNH has broken higher, with momentum improving after Monday’s move to 6.8051 and a close at 6.8038.

Source  Fxstreet1783550460

New Zealand Business NZ PMI rose from previous 49.9 to 59.7 in June

Source  Fxstreet1783549802
China: Growth support constrained – TD Securities

TD Securities’ Senior Asia Economist Alex Loo argues that China’s fiscal stance is turning austere as local governments prioritize debt clean-up over growth.

Source  Fxstreet1783545300
Days-old Iran ceasefire dies in the Strait of Hormuz as US launches fresh strikes on Iran

The US has begun a fresh series of strikes on Iran, hitting more than 80 targets in and around the Strait of Hormuz only days after the latest patch on the Versailles accord. President Trump now calls the agreement over, even while leaving the door open to talks.

Source  Fxstreet1783545006
Thai Baht: Range-bound after inflation data against dollar – Commerzbank

Commerzbank’s Charlie Lay highlights that USD/THB edged higher as Thai inflation data support a steady policy stance. Lay links the move to expectations that the Bank of Thailand (BoT) will keep interest rates on hold at 1% through at least the next meeting.

Source  Fxstreet1783540260
South Korean Won: Undervaluation and BOK outlook aid won – BBH

Brown Brothers Harriman’s (BBH) Elias Haddad highlights an extended broad rally in South Korean Won (KRW) as Korean equities underperform, reducing rebalancing outflows.

Source  Fxstreet1783537920

Argentina Industrial Output n.s.a (YoY) down to -5.7% in May from previous -2.8%

Source  Fxstreet1783537221

United States Consumer Credit Change below forecasts ($17.1B) in May: Actual ($-0.18B)

Source  Fxstreet1783537218
Singapore Dollar: Short-term losses versus upside risks against US Dollar – UOB

United Overseas Bank’s (UOB) Quek Ser Leang notes USD/SGD is edging higher after a period of tight consolidation, with intraday upside seen as limited below nearby resistance.

Source  Fxstreet1783535160
FOMC Minutes: Fed Shifts to Neutral Wait-and-See Stance, a Few Officials See Need to Raise Rates, Upside Inflation Risks Become Core Conflict

The Federal Reserve released the minutes of its June 16-17 FOMC monetary policy meeting on July 8. The document indicates that the Fed has completely shifted to a neutral, wait-and-see stance, with up

Source  Tradingkey1783534603

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
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