AUD/USD Price Forecast: Hawkish remarks from RBA’s Hunter lift Australian Dollar

The post Can NZD/USD build on hawkish RBNZ-led gains beyond 0.5715 confluence? appeared on BitcoinEthereumNews.com. The NZD/USD pair gains strong positive traction following the Reserve Bank of New Zealand’s (RBNZ) first rate hike in three years and reclaims the 0.5700 mark during the Asian session on Wednesday. Spot prices stick to intraday gains in the wake of the central bank’s hawkish outlook, saying that further rate increases appear likely at the coming meetings. Moreover, subdued US Dollar (USD) price action backs the case for a further appreciating move for the currency pair as the market focus shifts to the release of the FOMC Minutes, due later today. From a technical perspective, the NZD/USD pair is currently placed near the 0.5715 confluence hurdle – comprising the 100-day Exponential Moving Average (EMA) on the 4-hour chart and the 23.6% Fibonacci retracement level of the May-June fall. Some follow-through buying will be seen as a fresh trigger for bullish traders and set

The post Silver climbs above $60.00 despite US–Iran tensions, Fed minutes in focus appeared on BitcoinEthereumNews.com. Silver price (XAG/USD) attracts some buyers to near $60.35, snapping the two-day losing streak during the early European session on Wednesday. The white metal edges higher amid a softer US Dollar (USD) ahead of the release of the June FOMC meeting Minutes. The US military launched a new wave of strikes against Iran on Tuesday following reports of attacks on three oil tankers in the Strait of Hormuz, jeopardizing the already fragile ceasefire.  “US Central Command forces have begun launching a series of powerful strikes against Iran to impose heavy costs for targeting and attacking commercial shipping crewed by innocent civilians in an international waterway,” Centcom said on Tuesday. The latest developments could raise energy-driven inflationary fears and reaffirm the US Federal Reserve’s (Fed) “higher for longer” policy stance, which would weigh on the white metal. T

The post Swiss Franc weakens as US Dollar advances on renewing US-Iran tensions appeared on BitcoinEthereumNews.com. USD/CHF extends its gains for the third successive day, trading around 0.8090 during the Asian hours on Wednesday. The pair appreciates as the Greenback receives support from safe-haven demand amid renewing geopolitical tensions. US airstrikes against Iran came in response to Iranian attacks on commercial vessels in the crucial Strait of Hormuz, including a Qatari LNG carrier and a Saudi oil tanker. Reacting to recent US airstrikes, Iranian Parliament Speaker Mohammad Bagher Ghalibaf warned that the era of bullying and extortion has ended and insisted that Iran will not fold under pressure. Meanwhile, the country’s top joint military command denounced the attacks on southern Iran as blatant aggression, promising a crushing military response. Defiant over the strategic waterway, Tehran reaffirmed that it will block any US interference regarding the control and management

The post United States Dollar Index holds above 101.00 following US strikes on Iran appeared on BitcoinEthereumNews.com. The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is holding gains for the second consecutive day and trading around 101.10 during the Asian session on Wednesday. The Greenback receives support from safe-haven demand amid renewing geopolitical tensions. US airstrikes against Iran came in response to Iranian attacks on commercial vessels in the crucial Strait of Hormuz, including a Qatari LNG carrier and a Saudi oil tanker. The renewed hostility directly threatens a fragile, interim US-Iran peace pact, stoking fears of massive global energy disruptions as nervous shipping companies and local producers bypass the strategic waterway. However, the upside of the US Dollar could be restrained due to cooling rate-hike expectations, a shift triggered by last week’s weaker-than-expected Nonfarm Payrolls (NFP) data. Accord

The post New Zealand Dollar advances as RBNZ hike weighs on AUD/NZD appeared on BitcoinEthereumNews.com. AUD/NZD declines after three days of gains, trading around 1.2170 during the Asian hours on Wednesday. The currency cross falls nearly 0.25% as the New Zealand Dollar (NZD) gains ground following the release of the interest rate decision by the Reserve Bank of New Zealand (RBNZ). The RBNZ raised its Official Cash Rate (OCR) by 25 basis points to 2.50% at its June policy meeting, matching widespread market expectations. According to the central bank’s Monetary Policy Review, further reductions in monetary stimulus will likely be necessary to steer inflation back to its 2% target midpoint as economic activity strengthens. The RBNZ noted that future OCR adjustments will remain strictly data-dependent, guided by incoming economic indicators, price-setting behavior, and medium-term inflationary pressures. Meanwhile, Reserve Bank of Australia (RBA) Assistant Governor Sarah Hunter highligh

The post New Zealand Dollar retakes 0.5700 vs USD after RBNZ rate hike appeared on BitcoinEthereumNews.com. The NZD/USD pair attracts some buyers in reaction to the Reserve Bank of New Zealand’s (RBNZ) anticipated interest rate hike and reclaims the 0.5700 mark during the Asian session on Wednesday. Spot prices, for now, seem to have snapped a two-day losing streak, though the upside potential seems limited amid geopolitical uncertainties. As was widely expected, the RBNZ decided to raise the Official Cash Rate (OCR) by 25 basis points (bps) to 2.50% following the conclusion of the June monetary policy meeting. The New Zealand Dollar (NZD) bulls, however, seem hesitant and opt to wait for further insight if this is a one-off move rather than the start of further tightening. Hence, the focus will be on the post-meeting press conference, where comments from RBNZ Governor Dr. Anna Breman will influence the NZD and provide a fresh impetus to the NZD/USD pair. In the meantime, renewed US-Ir

The post British Pound declines to near 1.3350 as US launches strikes on Iran appeared on BitcoinEthereumNews.com. The GBP/USD pair loses traction to near 1.3355 during the Asian trading hours on Wednesday. The US Dollar (USD) edges higher against the British Pound (GBP) amid renewed geopolitical tensions after the US renewed strikes on Iran. The Federal Reserve’s (Fed) June meeting minutes will be published later on Wednesday. Washington unleashed a new wave of strikes against Tehran on Tuesday and revoked a license allowing the country to sell oil after three tankers were attacked in the Strait of Hormuz, per Reuters. Geopolitical fears surge following this headline, supporting the Greenback as a safe-haven asset. Westpac analysts said that concerns for the stability of the peace deal reemerged after Iran attacked ships crossing the Strait of Hormuz. “Concerns over the inflation outlook were in focus, seeing yields jump higher across the globe,” they wrote. The formal race to replace

The post Why is the Canadian Dollar falling despite higher oil prices? appeared on BitcoinEthereumNews.com. USD/CAD inches higher after registering minor losses in the previous day, trading around 1.4200 during the Asian hours on Wednesday. Traders are closely watching Wednesday’s release of the Federal Reserve Meeting Minutes, the first under newly appointed Chairman Kevin Warsh, for crucial clues regarding the future path of US interest rates. The USD/CAD pair advances as the US Dollar (USD) receives support from safe-haven demand amid renewed geopolitical tensions. However, the upside of the Greenback could be restrained due to cooling rate-hike expectations, a shift triggered by last week’s weaker-than-expected Nonfarm Payrolls (NFP) data. According to LSEG data, market pricing for total Fed rate increases by December has dropped to roughly 26 basis points, down significantly from the 38 basis points projected just a week ago. This shifting outlook is framed by recent commentary fr