Trading news

New Zealand Dollar (NZD) is likely to trade in a range between 0.6000 and 0.6050. In the longer run, upward pressure has faded; NZD is likely to trade in a range of 0.5970/0.6080 for now.

Oil extended gains on Monday morning as Israel-Iran attacks extended to a fourth day. On Saturday, Israel temporarily knocked out a natural gas processing facility linked to the South Pars field and targeted fuel storage tanks during strikes.

Friday’s US dollar recovery has been short-lived.

US Dollar (USD) remains a touch firmer amid geopolitical escalation between Israel and Iran. DXY was last at 97.93 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

The Swiss Franc (CHF) is holding steady against the US Dollar (USD) on Monday, even as the US Dollar Index (DXY) slips back below 98.00, with traders brace for a relatively calm start to a week full of central bank decisions and the context of an escalating war between Israel and Iran..

Downward pressure appears to have eased; Australian Dollar (AUD) is likely to trade sideways between 0.6460 and 0.6520. In the longer run, AUD appears to have moved into a range-trading phase between 0.6430 and 0.6550, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

The USD/JPY pair surrenders its early gains and flattens around 144.15 during European trading hours on Monday. The pair faces selling pressure as the US Dollar (USD) falls back after failing to extend Friday’s recovery move.

Retail sales growth accelerated to a 17-month high in May on front-loaded policy support. Better sentiment after US-China tariff truce supported steady export and IP growth.

The Australian Dollar is one of the stronger performers on Monday, favoured by an improving market sentiment and a weaker US Dollar. The pair is rallying about 0.45% so far today, returning to levels past 0.6500 as fears about the Middle East conflict ease.

Handelsblatt, a German newspaper, reported on Monday that the European Commission is prepared to accept a flat-rate United States (US) tariff of 10% under clear conditions.

Silver prices (XAG/USD) remain close to the multi-year highs near $37.00 hit last week, despite a moderate decline in demand for safe-haven assets, like precious metals, as fears that the Israel-Iran war might turn into a regional conflict have eased.Israel and Iran have kept exchanging missile atta

Current price movements are likely part of a sideways trading phase between 1.3515 and 1.3605. In the longer run, GBP must first close above 1.3640 before a move to 1.3700 can be expected, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Esmaeil Baghaei, an Iranian Foreign Ministry spokesperson, said on Monday that the Iranian parliament is preparing a bill to leave the nuclear Non-Proliferation Treaty (NPT).

G10 central bank activity this week starts with the Bank of Japan, which is widely expected to keep rates at 0.5% overnight, ING's FX analyst Francesco Pesole notes.

Euro (EUR) is expected to consolidate in a range of 1.1495/1.1600. EUR surged to 1.1631 last Thursday.

Pound Sterling (GBP) eased further as escalation in geopolitical tensions weighed on sentiments. Pair was last at 1.3583 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Silver prices (XAG/USD) rose on Monday, according to FXStreet data.

An official from the Indian Trade Ministry said on Monday that “India and US are aiming to sign interim deal before July 9.”

The eurozone’s dependence on energy price exports should put a curb on EUR/USD upside in our view, ING's FX analyst Francesco Pesole notes.

A spokesperson for the Israeli military said on Monday that they have “destroyed more than one-third of Iran's surface-to-surface missile launchers.”