Spot gold falls nearly 1% to $4,123.49 amid strong US dollar, Fed pressure

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

The post British Pound: Capped by layered resistance against US Dollar – Scotiabank appeared on BitcoinEthereumNews.com. Scotiabank strategists Shaun Osborne and Eric Theoret note the British Pound (GBP) is slightly softer against the US Dollar (USD) after encountering resistance near 1.3400, with limited fresh data and Bank of England (BoE) news. The RSI recovery suggests improving momentum, but multiple resistance levels between 1.3420 and 1.3520 constrain upside. They look for GBP/USD to trade in a 1.3350–1.3450 range in the near term. Momentum improves but upside capped “The pound is soft and also entering Tuesday’s NA session with a fractional 0.1% decline vs. the USD after finding some near-term resistance around 1.3400.” “Fundamental releases have been limited and developments out of the BoE have been limited to media reports of a proposed easing in bank capital rules. Political developments have been limited with markets waiting for fresh news on the looming leadership transiti

The post Euro holds steady as traders assess Fed and ECB interest rate paths appeared on BitcoinEthereumNews.com. EUR/USD trades in a narrow range on Tuesday as traders await greater clarity on the Federal Reserve’s (Fed) and European Central Bank’s (ECB) interest rate paths. At the time of writing, EUR/USD is trading around 1.1436, little changed on the day. Inflation risks have moderated as Oil prices have fully unwound their US-Iran war-driven rally following last month’s interim peace agreement, which reopened shipping through the Strait of Hormuz. However, policymakers on both sides of the Atlantic continue to signal that monetary policy is likely to remain restrictive in the coming months, with inflation running above their respective 2% targets. ECB Governing Council member Fabio Panetta said on Tuesday that the “outlook remains fragile,” adding that “upside inflation and downside growth risks remain.” ECB Governing Council member Pierre Wunsch said on Monday that “it seems that

Central banks' shift from the US dollar signals a move towards a multipolar monetary system, with increased reliance on gold and the euro. The post OMFIF survey shows central banks planning to cut US Dollar exposure for first time ever appeared first on Crypto Briefing.

The post Gold: Price dip seen limited as PBoC buying continues – Commerzbank appeared on BitcoinEthereumNews.com. Commerzbank’s Carsten Fritsch notes Gold fell to USD 4,120 per ounce after fresh Iranian attacks lifted TTF gas and Oil prices, but Fed rate expectations remain unchanged. He argues downside is limited, as the People’s Bank of China has bought Gold for 20 straight months, recently accelerating purchases and adding 33 tons over the last three months on the lower price environment. Chinese demand cushions recent weakness “The price of gold fell to USD 4,120 per troy ounce this morning following Iranian attacks on two cargo ships and an LNG tanker in the Strait of Hormuz. As a result, the TTF natural gas price rose significantly, and oil prices also edged up slightly, fueling inflation concerns.” “However, there was no change in Fed rate hike expectations. The market continues to anticipate interest rate hikes by the Fed of around 30 basis points by the end of the year. As a r

The post Canada International Merchandise Trade registered at $4.24B above expectations ($2.7B) in May appeared on BitcoinEthereumNews.com. Gold stages a rebound after dropping toward $4,100 earlier Tuesday and trades above $4,150 in the American session. Crude oil prices edge higher amid renewed tensions in the Strait of Hormuz, reviving inflationary concerns. This, in turn, triggers a fresh leg up in US Treasury bond yields, offering some support to the US Dollar, and making it difficult for the yellow metal to gain traction. Source: https://www.fxstreet.com/news/canada-international-merchandise-trade-registered-at-424b-above-expectations-27b-in-may-202607071230

Falling energy prices could ease inflation, potentially influencing the Fed's monetary policy towards rate cuts if trends align. The post Falling energy prices may reduce inflation in coming months, says Fed’s Williams appeared first on Crypto Briefing.