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USD/JPY Price Forecast: Yen underperforms amid BoJ rate outlook uncertainty
The Japanese Yen (JPY) trades lower against its major currency peers during the European trading session on Monday, while the USD/JPY pair is marginally lower at around 160.15 after recovering its early losses.
Australian Dollar advances as US-Iran framework boosts risk appetite ahead of RBA decision
AUD/USD trades around 0.7070 at the time of writing on Monday, up 0.35% on the day, benefiting from renewed risk appetite after the United States (US) and Iran announced a framework agreement aimed at ending their conflict.
Indian Rupee holds strength on US-Iran deal finalization
The Indian Rupee (INR) trades strongly against the US Dollar (USD) in India's afternoon trading hours on Monday. The USD/INR pair plunges to near 94.60 as oil prices have nosedived, following the announcement that the United States (US) and Iran have reached a permanent peace deal.
US Dollar: Weaker path after US-Iran deal – MUFG
MUFG’s Lee Hardman notes that the US Dollar has extended losses after the US and Iran reached an interim agreement to end conflict and reopen the Strait of Hormuz.
Swedish Krona: Riksbank caution weighs on Krona – BBH
Brown Brothers Harriman (BBH) expects the Riksbank to keep its policy rate at 1.75% for a sixth consecutive meeting and to lean against market pricing for a 25 bps hike by year-end.
British Pound: BoE hikes and politics cap Pound – BBH
Brown Brothers Harriman expects the Bank of England to hold at 3.75% with a 7–2 vote and sees the first fully priced 25 bps hike in November.
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Monday, according to FXStreet data. Silver trades at $70.69 per troy ounce, up 3.91% from the $68.03 it cost on Friday.
WTI falls below $79.00 to three-month lows
West Texas Intermediate (WTI) crude falls around 5%, reaching a three-month low of $78.60 per barrel on Monday. Crude oil prices declined to three-month lows on easing supply concerns following reports that the United States (US) and Iran had reached a deal to end their conflict.
Japanese Yen: High stakes around BoJ and Fed – Societe Generale
Societe Generale highlights USD/JPY trading near 160, with dips bought despite lower Oil and expectations of a 25 bp BoJ hike.
Eurozone Industrial Production rises moderately by 0.1% in April, misses 0.3% estimates
The Eurozone industrial sector activity rises at a moderate pace of 0.1% in April, slower than 0.3% estimates, according to data published by Eurostat. March’s Industrial Production data was revised higher to 0.4% from 0.2%.
Euro: Bid tone with defined ranges – Societe Generale
Societe Generale reports EUR/USD trading between 1.1569 and 1.1622 overnight, with the Euro bid above the 1.16 handle on the US–Iran MoU and lower Oil prices.
Eurozone Trade Balance s.a. dipped from previous €3.5B to €1.3B in April
Eurozone Trade Balance s.a. dipped from previous €3.5B to €1.3B in April
Eurozone Trade Balance n.s.a. came in at €-1B below forecasts (€7.8B) in April
Eurozone Trade Balance n.s.a. came in at €-1B below forecasts (€7.8B) in April
Eurozone Industrial Production w.d.a. (YoY) climbed from previous -2.1% to 0.3% in April
Eurozone Industrial Production w.d.a. (YoY) climbed from previous -2.1% to 0.3% in April
Eurozone Industrial Production s.a. (MoM) came in at 0.1%, below expectations (0.3%) in April
Eurozone Industrial Production s.a. (MoM) came in at 0.1%, below expectations (0.3%) in April
USD/CHF Price Forecast: Slips below 0.7950, nine-day EMA
USD/CHF depreciates nearly 0.5%, trading around 0.7930 during the European hours on Monday. The technical analysis of the daily chart indicates the pair is remaining within the ascending channel pattern, signaling an ongoing bullish bias.
EUR/GBP Price Forecasts: Bulls push against 0.8644 highs amid higher risk appetite
The Euro (EUR) shows a positive stance against the British Pound (GBP) on Monday, with bulls pushing toward one-week highs in the 0.8645 area.
British Pound: Faces policy and political risks – ING
ING’s Chris Turner highlights several risks for the Pound this week, centred on the Bank of England meeting and a key Labour by-election.
Euro gains against Japanese Yen on US-Iran deal, eyes on BoJ policy
The Euro (EUR) outperforms its major currency peers during the European trading session on Monday, trading 0.26% higher to near 185.85 against the Japanese Yen (JPY).
Japanese Yen: BoJ hike offers limited Yen relief – BBH
Brown Brothers Harriman expects the Bank of Japan to resume tightening with a 25 bps hike to 1.00%, but sees limited scope for a sustained Japanese Yen rally.
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