The historic joint US-Japan action last month has failed to shift the forces weighing on the yen. The currency stays close to a major psychological level, even though the greenback is losing credibility. Japan's economy slowed in Q2 and missed forecasts on softer household and business spending, but

Oil prices hit a nearly one-month high on Friday after Trump threatened to retaliate against countries supporting Iran as part of his efforts to end the war. The latest data shows that ship traffic through the Strait of Hormuz remained far below pre-war levels. Before the conflict, about 20% of the

Speculators are increasingly betting the RBA will raise interest rates again in November as inflation remains above the 2% target. Governor Bullock repeatedly stressed that inflation risks remain skewed to the upside. "While positions wagering on a September hike have been cut back, bets on a Novemb

The British pound hovered around the highest level in more than 3 years on Thursday on new US Treasury plans to steady the bond market against soaring long-term borrowing costs. A jump in household energy bills pushed British inflation to a 4-month high in July as expected, and it will likely rise f

The Swiss franc was directionless on Tuesday as traders walked back expectations of near-term monetary tightening, although the imminent threat of an escalation in the Middle East war left ‌sentiment fragile. The 30-year Treasury yield hit its highest level in 19 years as oil prices rose, with worri

The Canadian dollar rose on Wednesday after Trump said Washington was not in any talks with Iran and has no plans to start new ones. He added that the Strait of Hormuz is open and cleared of water mines. Trump delayed a planned 50% tax on select Canadian goods for three days. He made the announcemen

Sentiment in the crude oil market has shifted to expecting prices to decline at the annual APPEC where the least-sighted animal was a bull in a sea of bearish participants. Brent crude prices are likely to fall to around $55 per barrel by year-end as OPEC continue to unwind production into the marke

Oil prices steady on Friday after Washington threatened an indefinite naval blockade of Iran, after the previous session's fall on a weaker outlook ‌for demand and a large build in US stocks. Iran and the US still cannot agree on how to stop the war in the Gulf. An Iranian leader said that latest me

The Japanese yen grew stronger on Monday, shrugging off negative economic data. GDP expanded 1.1% in Q2 on an annualized basis, missing expectations for 2% growth as softer domestic demand offset strong exports. PM Takaichi promised to stop cutting budgets and instead spend more money at home on fut

The S&P 500 posted back-to-back losses on Tuesday, dragged down by major tech stocks as fading hopes for a reopened Strait of Hormuz worsened doubts about a US-Iran resolution. A senior Pakistani minister stated that the US and Iran are close to an arrangement over the Strait of Hormuz, providin

The FTSE 100 (100GBP) hit a historic peak July, successfully recovering from the market drop caused by the Iran conflict. This strong rebound was largely due to the UK stock market's minimal reliance on the tech sector. That coincided with a severe sell-off in semiconductor stocks, briefly pushing t

The Trump administration has decided not to renew its trilateral trade pact with Canada and Mexico, instead opting to conduct annual reviews of the treaty. The decision had been widely anticipated. This decision ensures the USMCA remains active for another 10 years, assuming no member country withdr

The yen remained weak on Thursday after a key inflation reading showed prices moderating across a range of goods and services in the US, possibly taking the urgency out of an imminent interest rate hike. According to Goldman Sachs, Japan still has about $200 billion to launch a few more massive yen-

Gold rose on Monday as oil prices fell after Trump said he had called off the strikes and described a deal covering the Hormuz Strait and Iran's denuclearization as "imminent." Kuwait reported Saturday that its military intercepted and destroyed multiple Iranian drones after Tehran launched an aeria