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PBOC sets USD/CNY reference rate at 7.1506 vs. 7.1535 previous
On Monday, the People's Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1506 as compared to Friday's fix of 7.1535 and 7.1626 Reuters estimate.
EUR/USD remains below 1.1800 due to renewed trade concerns, Eurozone Retail sales eyed
EUR/USD edges lower after registering gains in the previous session, trading around 1.1780 during the Asian hours on Monday. The pair struggles due to renewed tariff concerns, driven by the comments from US Treasury Secretary Scott Bessent.
GBP/USD lacks firm intraday direction, flat lines around mid-1.3600s
The GBP/USD pair kicks off the new week on a subdued note and oscillates in a narrow band around mid-1.3600s during the Asian session amid mixed fundamental cues.
Gold Price Forecast: XAU/USD attracts some sellers to below $3,350 amid tariff uncertainty
The Gold price (XAU/USD) attracts some sellers to around $3,320 during the early Asian session on Monday. The precious metal edges lower as the US June Nonfarm Payrolls (NFP) report altered the US Federal Reserve (Fed) policy expectations.
OPEC+ agrees to a bigger-than-expected production increase in August - Bloomberg
The Organization of the Petroleum Exporting Countries and allies (OPEC+) agreed on Saturday to hike their collective crude production by 548,000 barrels per day (bpd), as they continue to unwind a set of voluntary supply cuts, per Bloomberg. This is faster than the 411,000 bps expected.
Israel carries out 'intense' strikes on Houthi targets in Yemen
Israel stated late Sunday that the country's military had attacked Houthi targets at three ports and a power plant in Yemen. Defence Minister Israel Katz confirmed the attack, saying they were carried out due to repeated attacks by the Iranian-backed rebel group on Israel.
AUD/USD weakens to near 0.6550 on renewed tariff concerns
The AUD/USD pair trades in negative territory for the third consecutive day near 0.6550 during the early Asian session on Monday. The renewed concern about a global trade war weighs on the Australian Dollar (AUD) against the Greenback.
US President Donald Trump says tariff letters to 12 countries signed, going out Monday - Reuters
US President Donald Trump said on Saturday that he had signed letters to 12 countries outlining the various tariff levels they would face on goods they export to the United States, with the "take it or leave it" offers to be sent out on Monday, per Reuters.
US Treasury Sec. Bessent warns of tariff hike if no trade deals reached by August 1
US Treasury Secretary Scott Bessent said on Sunday that tariffs imposed in April will take effect on August 1 for countries that have not reached a trade deal with US President Donald Trump's administration, per CNBC.
Silver Price Forecast: XAG/USD advance stalls near $37.00 as holiday lull masks bullish setup
Silver price traded sideways on Friday, remaining virtually unchanged at $36.84, due to thin trading volumes as US markets were closed for a holiday.
EUR/USD holds near highs despite tariff jitters, eyes on EU data next week
EUR/USD posted minimal gains of 0.18% on Friday amid thin liquidity conditions, as markets in the United States are closed due to the Independence Day holiday. The shared currency is poised to close the week with gains of 0.53% despite the release of solid US economic data this week.
AUD/USD retreats as risk-off mood builds ahead of Trump's tariff deadline
The Australian Dollar (AUD) weakened against the US Dollar (USD) on Friday amid a low-volume trading session and a risk-off tone ahead of US President Donald Trump's July 9 tariff deadline.
USD/JPY Price Forecast: Eyes breakout as triangle narrows, but lacks momentum
The US Dollar (USD) is trading slightly lower against the Japanese Yen (JPY) on Friday, with the USD/JPY hovering around 144.50 in subdued holiday-thinned conditions as US markets remain closed for Independence Day.
NZD/USD risks further downside as Kiwi tests critical support at 0.6050
The New Zealand Dollar (NZD) is weakening against the US Dollar (USD) on Friday as market participants weigh near-term resistance against a weakening bullish structure.
Gold price shines as USD slips, trade war fuels safe-haven demand
Gold price resumes its uptrend on Friday, poised to print gains of over 1.50% for the week as the US Dollar is on the back foot amid thin liquidity conditions following the closure of US markets in celebration of Independence Day. A slight escalation of the trade war boosted bullion prices.
GBP/JPY retreats as safe-haven demand rises ahead of Trump's tariff deadline
The Japanese Yen (JPY) is strengthening against the British Pound (GBP) on Friday as markets turn cautious ahead of the weekend.
WTI Crude Oil consolidates near key support, OPEC+ decision looms
West Texas Intermediate (WTI) Crude Oil prices remain subdued on Friday, extending losses from the previous day and hovering near the mid-$65s amid thin holiday trading, lingering demand concerns, and a lack of fresh catalysts.
BoE's Taylor: Disinflationary forces are building
Bank of England (BoE) rate-setter Alan Taylor noted late on Friday that downside pressures are continuing to build up underneath the UK's economy, signaling that early rate cuts may be needed ahead of a questionable forecasting period.
EUR/USD firms as tariffs and Trump's tax bill dominate headlines
The Euro (EUR) is holding modest gains against the US Dollar (USD) in thin trading conditions on Friday. With US markets closed in observance of Independence Day, liquidity is limited.
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