Can NZD/USD build on hawkish RBNZ-led gains beyond 0.5715 confluence?

The post New Zealand Dollar: Hawkish RBNZ but kiwi seen vulnerable – Commerzbank appeared on BitcoinEthereumNews.com. Commerzbank’s Volkmar Baur reports the Reserve Bank of New Zealand (RBNZ) lifted the Official Cash Rate (OCR) to 2.5%, with the New Zealand Dollar (NZD) gaining slightly versus US Dollar (USD). RBNZ’s tone was more hawkish than expected, addressing structural inflation risks, and Commerzbank still looks for one more hike. However, they see market pricing of three additional hikes as excessive, expecting kiwi weakness once expectations are pared back. Market overpricing future OCR hikes “As we expected, the Reserve Bank of New Zealand raised the official cash rate (OCR) this morning to 2.5%. The kiwi reacted positively to this move and gained slightly against the USD after having fallen significantly in recent weeks. In its statement, however, the central bank’s tone was, on the whole, perhaps a bit more hawkish than we would have expected.” “We, too, had anticipated a c

The post Euro: Range trade around key supports against US Dollar – UOB appeared on BitcoinEthereumNews.com. United Overseas Bank’s (UOB) Quek Ser Leang highlights EUR/USD’s failure to extend its recent advance, with momentum fading after a retreat from recent highs. The pair is now seen oscillating between 1.1360 and 1.1450 in coming weeks, while intraday price action may test 1.1390 without threatening the more important 1.1360 support unless the 1.1430 resistance breaks. Momentum fades into sideways pattern “24-HOUR VIEW: Two days ago, EUR traded within a range of 1.1408/1.1444 and closed largely unchanged at 1.1440 (+0.04%). Yesterday, we stated that we “continue to expect range-trading, but the firmer underlying tone suggests EUR is likely to trade in a higher range of 1.1425/1.1470.” Our assessments turned out to be incorrect, as EUR fell to a low of 1.1407. Despite the relatively sharp decline, downward momentum has not increased much. However, there is scope for EUR to dip below

The post Euro gains as US Dollar moves sideways amid market caution appeared on BitcoinEthereumNews.com. EUR/USD maintains its position after registering modest losses in the previous day, trading around 1.1410 during the Asian hours on Wednesday. Traders’ attention is focused on Wednesday’s release of the US Federal Reserve (Fed) Meeting Minutes, the first under newly appointed Chairman Kevin Warsh, for crucial clues regarding the future path of US interest rates. The EUR/USD holds minor gains as the US Dollar (USD) inches lower after experiencing volatility. The Greenback may regain its ground amid rising safe-haven demand and 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. Iranian Parliament Speaker Mohammad Bagher Ghalibaf warned that the era of bullying and extortion has ended and insisted that Iran will not fold under pressur

The post Indian Rupee edges up against US Dollar, ignores rising oil prices appeared on BitcoinEthereumNews.com. The Indian Rupee (INR) ticks higher against the US Dollar (USD) in the opening session on Wednesday. The USD/INR pair edges down to near 95.00 despite renewed geopolitical risks, following United States (US) attacks on Iran, which have lifted oil prices. In the opening session, the MCX Crude Oil contract expiring on July 20 is up 2.62% to near 6,882. The contract also gained almost 2.35% on Tuesday. Currencies from economies, such as India, which rely heavily on oil imports to meet their energy needs, tend to underperform when oil prices surge. US strikes in retaliation for attacks on commercial ships The US Central Command has reported, through a post on X, that it launched powerful attacks on Iranian military infrastructure for attacking commercial ships transiting through the Strait of Hormuz, a critical chokepoint for almost 20% of global energy supply. In response, Tehr

The post Pound Sterling Price News and Forecast: GBP/USD softens to around 1.3355 during Asian session appeared on BitcoinEthereumNews.com. British Pound declines to near 1.3350 as US launches strikes on Iran 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. Read more… British Pound Sterling Runs Out of American Bad News After Nine Straight Days The Pound’s nine-session march against the Dollar ended on Tuesday, and it took exactly one

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 AUD/USD Price Forecast: Hawkish remarks from RBA’s Hunter lift Australian Dollar appeared on BitcoinEthereumNews.com. The Australian Dollar (AUD) trades 0.23% higher to near 0.6943 against the US Dollar (USD) during the Asian trading session on Wednesday. The Aussie pair gains as the Australian Dollar outperforms its major currency peers, except the New Zealand Dollar (NZD), with the Reserve Bank of Australia (RBA) keeping the door open for further monetary policy tightening, if needed, to bring inflation back to the central bank’s target. Australian Dollar Price Today The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the strongest against the Japanese Yen. USD EUR GBP JPY CAD AUD NZD CHF USD -0.03% 0.03% 0.15% -0.02% -0.21% -0.50% 0.03% EUR 0.03% 0.05% 0.17% -0.00% -0.18% -0.49% 0.05% GBP -0.03% -0.05% 0.13% -0.03% -0.25% -0.52% -0.03% JPY -0.15% -0.17% -0.13% -0.18% -0.34% -0.65% -0.15% CAD 0.0

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