Financial markets remained volatile heading into the weekend as investors avoided taking large positions amid continued uncertainty surrounding the conflict. Market participants largely stayed on the sidelines, limiting major moves across asset classes. The June labor market report from Canada is expected to be the day’s only major economic release with the potential to drive
The USD/ZAR exchange rate rose by a few pips today, July 9, as crude oil prices rose following the new strikes in the Middle East. It jumped to 16.50 on Wednesday and then pulled back a bit to 16.37. South African rand falls as geopolitical tensions rise The South African rand softened a bit after
The US Dollar (USD) struggled to attract buyers early Thursday despite a fresh escalation in tensions in the Middle East. Investors shifted their focus toward upcoming US economic data releases and comments from central bank officials while monitoring developments in the region. The US economic calendar is scheduled to feature weekly Initial Jobless Claims and
The US dollar held near its strongest level of the week against most major currencies during early Asian trading on Wednesday after renewed US strikes on Iran reignited geopolitical tensions and pushed oil prices higher. The dollar index, which tracks the greenback against a basket of six major currencies, rose to 101.18. Meanwhile, the New
Investor sentiment turned cautious on Wednesday as markets assessed the latest developments surrounding the conflict in the Middle East, while attention shifted to the upcoming release of the minutes from the US Federal Reserve’s June Federal Open Market Committee meeting. Market participants remained focused on geopolitical developments during the European session, with concerns over escalating
The NZD/USD exchange rate pulled back a bit on Tuesday, reacting to more weak US macro data, and as traders refocused on the upcoming Reserve Bank of New Zealand (RBNZ) interest rate decision. It retreated to 0.5693 from last week’s high of 0.5725. RBNZ expected to hike interest rates The New Zealand dollar, commonly known
Markets remained cautious on Tuesday as investors closely monitored developments in the Middle East while awaiting fresh economic data from the United States. With no major high-impact data releases scheduled for the early part of the day, market participants focused on geopolitical headlines and remarks from central bank officials. Later in the session, attention is
The US Dollar Index (DXY), which measures the US Dollar against a basket of six major currencies, edged higher during Asian trading hours on Monday. The index traded around the 101.00 level after remaining largely unchanged in the previous session. Market participants continued to assess the outlook for US monetary policy. Expectations of further Federal
Global markets began the week on a cautious note as investors awaited the return of normal trading conditions following the three-day weekend in the United States. Market participants remained focused on a series of scheduled economic releases and speeches from major central bank officials later in the day. The Bank of Canada is also set
The Japanese yen jumped sharply on Thursday as traders braced for a potential intervention by the Bank of Japan (BoJ). The USD/JPY pair retreated to a low of 160.62 from the year-to-date high of 162.84. US published weak non-farm payrolls data The USD/JPY pair retreated after the US published the latest non-farm payrolls (NFP) report.