Japanese Yen: Near historic lows against US Dollar – Scotiabank

The post USD/CAD Price Forecast: Buyers retain the upper hand even as momentum weakens appeared on BitcoinEthereumNews.com. USD/CAD edges lower on Tuesday even as the US Dollar (USD) holds firm, with the Canadian Dollar (CAD) drawing support from a modest rebound in crude Oil prices following renewed attacks on commercial vessels near the Strait of Hormuz. At the time of writing, the pair is trading around 1.4188. West Texas Intermediate (WTI) crude Oil is trading around $70.30, up nearly 2.50% on the day. Meanwhile, the US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, is treading water near 101.00. However, diverging monetary policy expectations between the Federal Reserve (Fed) and the Bank of Canada (BoC) could limit further gains in the Canadian Dollar (CAD). Markets continue to expect the Fed to raise interest rates later this year to bring inflation back to its 2% target, even as softer-than-expected US labor market data have red

The post New Zealand Dollar weakens amid firm US Dollar, RBNZ eyed appeared on BitcoinEthereumNews.com. NZD/USD trades around 0.5685 at the time of writing on Tuesday, down 0.26% on the day. The pair remains under pressure as the US Dollar (USD) attracts renewed demand following fresh geopolitical tensions in the Middle East, while investors await the Reserve Bank of New Zealand’s (RBNZ) monetary policy decision. According to Bloomberg, citing a US official, Iran fired at least two missiles at commercial vessels transiting the Strait of Hormuz late Monday. Two ships sustained significant damage without any reported casualties, while the UK Maritime Trade Operations also confirmed that a tanker was struck by an unidentified projectile. The escalation in tensions has supported safe-haven flows and strengthened the US Dollar. Meanwhile, expectations for Federal Reserve (Fed) monetary policy continue to evolve following the recent slowdown in the US labor market. Investors now expect the F

The post British Pound slips as Hormuz attacks revive USD demand appeared on BitcoinEthereumNews.com. The Pound Sterling (GBP) retreats against the US Dollar (USD) on Tuesday as tensions in the Middle East rise, following reports of attacks on two ships in the Strait of Hormuz. The GBP/USD pair trades at 1.3373, down 0.11%. GBP/USD falls as Oil spike lifts Fed hike worries The Greenback remains steady after the Islamic Revolutionary Guard Corps (IRGC) attacked ships that attempted to pass through the Omani route, ignoring the IRGC’s repeated warnings. These developments underpinned Oil prices and consequently the US Dollar, as high energy prices could force the US Federal Reserve (Fed) to raise interest rates. The US Dollar Index (DXY), which measures the buck’s performance against six currencies, is up 0.05% at 100.93. Data from the US showed that the trade deficit widened in May, driven by a jump in imports and a decline in exports. The Goods and Services Trade Balance deficit came a

The post Euro: Upside bias against US Dollar as ECB repriced – Scotiabank appeared on BitcoinEthereumNews.com. Scotiabank strategists Shaun Osborne and Eric Theoret report the Euro (EUR) is slightly softer versus the US Dollar (USD) but supported by a sharp recovery in yield spreads and stronger German industrial production. Renewed hawkishness from European Central Bank (ECB) policymakers is lifting Euro area rate expectations. They see near-term upside for EUR/USD, with technicals pointing to a drift toward 1.15 within a 1.1400–1.1500 range and limited resistance before 1.1580. Hawkish ECB supports Euro “Bearish/neutral – the recovery in the RSI is important, reflecting a clear fade in bearish momentum and a drift back toward the neutral threshold around 50. The near-term balance of risk appears to favor gains and a drift toward 1.15 and we note the absence of any material resistance ahead of 1.1580. The medium-term trend is flat, and we look to a near-term range bound between 1.1400

The post Australian Dollar falls amid cautious Fedspeak appeared on BitcoinEthereumNews.com. AUD/USD declines toward 0.6940 as the Australian Dollar (AUD) loses momentum, while the US Dollar (USD) remains supported by cautious remarks from the Federal Reserve (Fed) and lingering uncertainty over inflation. The latest United States (US) labor data showed that the ADP Employment Change 4-week average eased to 21K from 24.25K, pointing to a softer pace of private hiring. The figure suggests that labor market momentum is cooling, which could normally weigh on the Greenback. However, the USD held firm as investors remained cautious ahead of more important US data and continued to price in a data-dependent Fed stance. New York Fed President John Williams said the US economy is showing steady trend-like growth and that the job market remains stable. However, he warned that inflation is still quite high, keeping pressure on the Fed to maintain a restrictive policy stance. Williams added that m

The post Swiss Franc eases as hawkish Fed outlook supports US Dollar appeared on BitcoinEthereumNews.com. USD/CHF holds modest gains on Tuesday as traders balance softer US labor market data against hawkish Federal Reserve (Fed) expectations, keeping the US Dollar (USD) range-bound. At the time of writing, the pair is trading around 0.8066, remaining on the front foot for a second consecutive day. Recent US labor market data have come in softer than expected, pointing to a gradual cooling after showing signs of improvement earlier this year. The four-week average of the ADP Employment Change eased to 21K from 24.25K. This follows last week’s disappointing June Nonfarm Payrolls (NFP) report, which showed the US economy added just 57K jobs, well below market expectations of 110K. The softer labor market data have prompted traders to scale back expectations of a near-term Fed rate hike. However, Fed officials continue to stress that inflation remains a concern. New York Fed President John

The post Canadian Dollar steady as trade surplus, Fed outlook cap USD/CAD appeared on BitcoinEthereumNews.com. USD/CAD trades around 1.4205 on Tuesday at the time of writing, virtually unchanged on the day, as investors balance encouraging Canadian economic data against a US Dollar (USD) that remains supported by monetary policy expectations and ongoing geopolitical tensions. Canada released stronger-than-expected trade figures. Merchandise exports rose 0.9% in May, while imports edged down 0.2%, allowing the trade surplus to widen to CAD$4.24B from an upwardly revised CAD$3.41B in April. This marks Canada’s third consecutive monthly trade surplus. Meanwhile, the Ivey Purchasing Managers Index (PMI) eased to 59.7 from 61.3 but remained firmly in expansion territory, signalling that economic activity continues to grow. Despite the upbeat domestic data, the Canadian Dollar (CAD) struggles to gain traction, although higher Oil prices are providing some support. West Texas Intermediate (WT

The post Japanese Yen: Weak against US Dollar with limited upside – NBC appeared on BitcoinEthereumNews.com. National Bank of Canada ’s (NBC) Stéfane Marion and Kyle Dahms highlight the Japanese Yen (JPY) trading near multi-decade lows around 161 per USD, even as long-end yield differentials move in Japan’s favour. They see stretched short yen positioning, rising intervention risk near 162–163, and gradual BoJ normalization limiting further weakness. Their forecast has USD/JPY easing to 158 by year-end and toward 155 by mid-2027. Intervention risk caps yen losses “The yen remains near multi-decade lows despite some improvement in long-end yield spreads. Cautious BoJ normalization and fiscal concerns continue to limit support, while intervention risk around the 162–163 area and crowded yen shorts make further yen weakness look less likely. A sustained yen recovery likely requires lower U.S. yields or a more forceful BoJ.” “Positioning makes the setup more asymmetric. Non-commercial spec