New Zealand RBNZ Interest Rate Decision in line with expectations (2.5%)

The EUR/USD pair defends the 1.1400 mark during the Asian session on Wednesday, though it struggles to attract any meaningful buyers on the back of renewed US-Iran hostilities.

On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.8077 compared to the previous day's fix of 6.8054 and 6.8018 Reuters estimate.

Reserve Bank of Australia (RBA) Assistant Governor Sarah Hunter said on Wednesday that the central bank will act as needed to bring inflation back to target, even as the recent oil shock has yet to produce a marked slowdown in economic activity.

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West Texas Intermediate (WTI) oil price continues to advance after registering nearly 5% gains in the previous day, trading around $72.20 per barrel during the Asian hours on Wednesday.

TradingKey - 일본과 한국 증시 개장 직후 급락, 코스피와 니케이 225 지수 2차 패닉 셀링으로 타격, 삼성전자와 SK하이닉스 각각 약 4% 하락한 반면 키옥시아는 역주행7월 8일 아시아 장 초반 거래에서 오늘 일본과 한국 증시는 하락 개세를 이어갔습니다. 이 중 한국 코스피 지수는 3.34% 폭락한 7,400.24포인트를 기록하며 5월 26일

The USD/JPY pair trades with mild losses near 162.35 during the early Asian session on Wednesday. The Japanese Yen (JPY) strengthens against the US Dollar (USD) as traders continue to watch for signs of possible intervention by Japanese authorities to support the currency.

Japan Trade Balance - BOP Basis down to ¥6.9B in May from previous ¥395.7B

Japan Bank Lending (YoY) came in at 5.7%, below expectations (5.8%) in June

Japan Current Account n.s.a. came in at ¥3.968B below forecasts (¥4121.3B) in May

Gold price (XAU/USD) loses ground to around $4,100 during the early Asian session on Wednesday. The precious metal faces new selling pressure after the US vows a response against Iran following reports of attacks on three oil tankers in and around the Strait of Hormuz.

The Australian Dollar retreats to two-day lows during the week, down 0.39%, as the US Dollar surges amid rising tensions in the Middle East. At the time of writing, the AUD/USD trades at 0.6928, having reached a daily high of 0.6961.

Colombia Consumer Price Index (MoM) above expectations (0.35%) in June: Actual (0.39%)

Colombia Consumer Price Index (YoY) above forecasts (6.09%) in June: Actual (6.14%)

South Korea Current Account Balance: 38.61B (May) vs 28.29B

Bitcoin (BTC) has shown strength over the past week, rising above the $63,000 level, but the rally remains fragile until exchange-traded fund (ETF) inflows expand in the upcoming trading sessions, according to Wintermute.

UOB’s Quek Ser Leang notes that the US Dollar against the Chinese Yuan has stayed within the previously flagged range, with only modest upward momentum despite a push toward 6.8000.

BNY’s Geoff Yu highlights that institutional investors are exiting South Korean equities, contributing to the KOSPI’s brief bear-market move, while retail buyers still support the market.

The Euro spent Tuesday assembling the sort of case that should buy a currency a bid: hawkish-leaning remarks from an unlikely corner of the European Central Bank (ECB), a softening American payrolls proxy, and a Federal Reserve (Fed) regional president content to say nothing new.

The GBP/JPY reverses course on Tuesday, loses 0.24% as the Japanese Yen recovered some ground against most G8 FX currencies, except for the US Dollar. At the time of writing, the cross-pair trades at 216.51 after reaching a multi-year high of 217.22.

NZD/USD loses ground near the 0.5680 level as investors look ahead to Wednesday’s Reserve Bank of New Zealand (RBNZ) policy decision, while the US Dollar (USD) remains supported by cautious remarks from the Federal Reserve (Fed).

Iran's Foreign Ministry spent Tuesday insisting it is diligently fulfilling its Strait of Hormuz commitments under the memorandum signed at Versailles, hours after projectiles struck a Qatari liquefied natural gas carrier and a Saudi tanker inside the waterway it claims to be safeguarding.

The Pound's nine-session march against the Dollar ended on Tuesday, and it took exactly one geopolitical headline to finish it.

United Overseas Bank’s (UOB) Quek Ser Leang notes USD/SGD closed almost unchanged near 1.2924, but short-term momentum has turned slightly lower.

The Reserve Bank of New Zealand (RBNZ) is widely expected to raise the Official Cash Rate (OCR) by 25 basis points (bps) from 2.25% to 2.50% on Wednesday, snapping a three-consecutive-meeting pause. 

The United States Treasury Department revoked the general licence authorizing Iranian Crude Oil sales on Tuesday, ending the shortest-lived sanctions relief of the ceasefire era hours after three tankers were struck in the Strait of Hormuz.