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Bank of Japan: Gradual normalisation with higher JGB yields – ING
ING’s Min Joo Kang expects the Bank of Japan to deliver a 25bp rate hike in June, supported by resilient growth, negative real rates and upside inflation risks. Despite soft May inflation, underlying pressures and firm wages justify further normalisation.
Canadian Dollar: Downside risk against US Dollar as BoC stays patient – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad reports the Bank of Canada (BoC) kept its policy rate at 2.25% for a fifth consecutive meeting and signaled no urgency to hike despite two-way optionality.
Japanese Yen: Pressure persists toward 162 against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret report USD/JPY is steady but elevated, with recent gains already surpassing prior intervention-trigger levels. A 25 bps Bank of Japan (BoJ) hike on Tuesday is widely anticipated, and markets price nearly one more increase by December.
Swiss National Bank: Policy pause and FX stance – Nomura
Nomura analysts Josie Anderson, George Buckley, Andrzej Szczepaniak and David Seif expect the SNB to keep its policy rate at 0.00% at the 18 June meeting. They highlight low Swiss inflation, mixed activity data and ongoing Iran war uncertainty.
Gold hits six-month low as hawkish Fed bets, stronger US Dollar weigh
Gold (XAU/USD) slides to a six-month low on Thursday, wiping out all the gains recorded this year as a combination of hawkish central bank expectations, a stronger US Dollar (USD) and technical selling keeps buyers on the sidelines.
United States EIA Natural Gas Storage Change registered at 108B above expectations (101B) in June 5
United States EIA Natural Gas Storage Change registered at 108B above expectations (101B) in June 5
Bank of England: One summer hike seen as likely – ING
ING’s James Smith highlights a softer UK backdrop than in 2022, with vacancies falling, unemployment rising and wage growth slowing, while firms and workers have limited pricing and bargaining power. He judges that the Bank of England (BoE) is torn between a prolonged pause and a symbolic move.
Canadian Dollar: Overbought US Dollar eyes 1.40–1.41 range – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret highlight renewed Canadian Dollar (CAD) weakness as softer Oil prices and geopolitical concerns push USD/CAD to new year-to-date highs.
Euro fails to gain traction as geopolitical risks overshadow ECB rate hike
EUR/USD struggles near two-month lows on Thursday as traders show a muted reaction to the latest European Central Bank (ECB) interest rate decision. Meanwhile, escalating tensions in the Middle East keep risk sentiment subdued and support the US Dollar (USD), leaving the Euro (EUR) on the defensive.
European Central Bank: Further tightening path outlined – Nordea
Nordea’s Jan von Gerich and Tuuli Koivu note that the European Central Bank (ECB) raised rates by 25bp and signalled readiness to tighten further as inflation stays above target.
Oil: Supply fears and $150 risk flagged – BNY
BNY’s Bob Savage highlights that Oil initially spiked on renewed U.S.–Iran tensions before easing, but analysts remain concerned about supply risks and the durability of any peace deal.
ECB Press Conference: Lagarde speaks on policy outlook after raising rates in June
Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to raise key rates by 25 basis points at the June policy meeting and responds to questions from the press.
Lagarde speech: Short-term inflation expectations have risen
Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to raise key rates by 25 basis points at the June policy meeting and responds to questions from the press.
United Kingdom: Upside CPI risks building into 2027 – Deutsche Bank
Deutsche Bank’s Sanjay Raja expects UK headline CPI to edge up to 3.01% year-on-year in May, with core CPI at 2.72% and Services CPI at 3.65%. The bank projects CPI to average 3.1% this year before easing to 2.6% next year and 2.3% in 2028, with risks to inflation seen skewed to the upside.
“There will be more bombing tonight”: US President Trump declares
United States (US) President Donald Trump said on Thursday that negotiations with Iran remain ongoing but warned of further military action, stating that additional strikes are expected later in the day. Trump made these statements in a Fox News interview.
Reserve Bank of Australia: Output gap signals prolonged hold – TD Securities
TD Securities’ Prashant Newnaha and Howard Du argue recent weak Australian data and Federal Budget tax changes should keep the RBA cash rate at 4.35% next week and likely on hold for longer.
Lagarde speech: We did not discuss alternatives
Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to raise key rates by 25 basis points at the June policy meeting and responds to questions from the press.
Silver price hits multi‑month low as Fed hike expectations, safe-haven demand weigh
Silver (XAG/USD) extends its bearish move on Thursday and trades around $63.00, down 0.58% on the day at the time of writing.
Silver Price Forecast: XAG/USD rises to near $64 on hopes that US-Iran ceasefire remains intact
Silver price (XAG/USD) claws back its early losses and rises to near $64.10 during the early European trading session on Thursday. The white metal attracts bids amid hopes that the April ceasefire between the United States (US) and Iran remains intact despite the exchange of attacks this week.
Gold bounces off YTD low amid USD weakness; Fed hike bets cap gains
Gold (XAU/USD) struggles to capitalize on a modest Asian session rebound from its lowest level since November 2025 on Thursday and remains below the $4,100 mark amid mixed cues.
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