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Silver Price Forecast: XAG/USD has a key support level at $35.50
Silver (XAG/USD) is bouncing up from a key support area at $35.50 on Tuesday, following a three-day reversal from multi-year highs at $37.35.
Gold Price Forecast: XAU/USD slides below 20-day EMA as Israel-Iran call ceasefire
Gold price (XAU/USD) plummets to near $3,320 during the European trading session on Tuesday. The yellow metal faces a sharp selling pressure as safe-haven assets are underperforming after the announcement of a ceasefire between Israel and Iran.
Kazakhstan still producing far too much oil in June - Commerzbank
Kazakhstan's overproduction is probably the main reason for the OPEC+ change in production strategy and the rapid reversal of voluntary production cuts, Commerzbank's commodity analyst Barbara Lambrecht notes.
Is it a ceasefire if Trump says so? - Danske Bank
Middle East is back from the brink, or is it? The situation has been fluid since Israel launched its attack on Israel on the 13th of June. Iran immediately responded by launching a missile barrage in Israel.
EUR/USD surges above 1.16 on ceasefire hopes - Commerzbank
According to US President Trump, there is allegedly a ceasefire between Israel and Iran. First, Iran is to lay down its weapons for 12 hours, followed by Israel for 12 hours, so that the war will be over within 24 hours.
Fed's Bostic: No need to cut rates now
Atlanta Federal Reserve (Fed) President Raphael Bostic told Reuters on Tuesday that the Fed does not need to cut the policy rate now, noting that inflation risks remain as businesses run out of ways to postpone tariff driven price hikes.
USD/CNH: Likely moves into a 7.1620/7.2200 - UOB Group
US Dollar (USD) could edge lower against Chinese Yuan (CNH), but any decline is unlikely to break below the major support at 7.1620. In the longer run, USD has likely moved into a 7.1620/7.2200 range trading phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
NBH to hold steady at 6.50% as inflation risks linger - BBH
National Bank of Hungary is widely expected to keep rates steady at 6.50%, BBH FX analysts report.
AUD/USD climbs to fresh weekly highs above 0.6500 amid a risk-on mood
The Australian Dollar is one of the strongest performers among major currencies on Tuesday.
NZD/USD: Likely to trade in a range of 0.5900/0.6090 - UOB Group
There is scope for New Zealand Dollar (NZD) to rebound further; overbought conditions suggest 0.6040 is likely out of reach.
USD/CAD soft ahead of key Canada CPI data - BBH
USD/CAD is trading heavy near 1.3700 after peaking at 1.3800 yesterday, BBH FX analysts report.
PBOC: Will increase support for the real economy
The People's Bank of China (PBOC) said in a statement on Tuesday that it will increase support for the real economy.
BoE's Greene: A careful, gradual approach to policy easing continues to be warranted
Bank of England (BoE) policymaker Megan Greene said on Tuesday that "a careful and gradual approach to removing monetary policy restrictiveness continues to be warranted."
USD/JPY plunges to near 145.00 as US Dollar underperforms on Israel-Iran truce
The USD/JPY pair faces a sharp sell-off and slides to near 145.00 on Tuesday. The pair dives significantly as the US Dollar (USD) underperforms its peers after a ceasefire between Israel and Iran.
Silver price today: Silver broadly unchanged, according to FXStreet data
Silver prices (XAG/USD) broadly unchanged on Tuesday, according to FXStreet data.
FXS Fed Sentiment Index drops to lowest level since March ahead of Powell testimony
Federal Reserve (Fed) Chairman Jerome Powell will testify before the US House Financial Services Committee on Tuesday. Investors will look for fresh hints on the timing of the next policy action after recent comments from Fed policymakers showed a difference of opinion.
HUF: Steady rate does not equal steady the forint - Commerzbank
The Hungarian central bank (MNB) is set to leave its base rate unchanged at 6.50%, for the ninth consecutive month, today. That much has been clear from the MPC's persistent rhetoric, and now confirmed by unanimous expectations among analysts.
EUR/JPY falls to near 168.00 due to growing odds of BoJ's rate hikes
EUR/JPY halts its three-day winning streak, trading around 168.10 during the European hours on Tuesday. The currency cross extends its losses after pulling back from an 11-month high of 169.72, reached on Monday.
AUD/USD: Likely to trade between 0.6385 and 0.6555 - UOB Group
Overbought advance in Australian Dollar (AUD) could test 0.6505 before leveling off against US Dollar (USD); 0.6555 is not expected to come into view.
HUF: NBH must increase hawkishness to protect FX - ING
The National Bank of Hungary is likely to leave rates unchanged today at 6.50% in line with market expectations, ING's FX analyst Frantisek Taborsky notes.
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