FX News

FX Update: Risk currencies recover

Market Overview

• Israel’s hit back on Iran Friday was met with sigh of relief from media – somehow a full-scale war has been avoided, as far as risk currencies were concerned it was by all means “by the rumour, sell the fact” as further possible exchange was subdued.
• ECB’s Muller sees more rate cuts at year end which are not currently forecast.
• US Retail Sales m/m 0.0 vs 0.3% expected.
• Australian Consumer Confidence falls 3.2 points to the lowest level in 2024.
• The Safe haven USD buy is still the most popular flavour currently amid a small drift lower in the currency.
• Gold breaks below 2400 on its way to post 2330 earlier today.
• The Australian Dollar (AUD) is the strongest currency this week while the weakest currency is the British Pound (GBP).

Previous ArticleNext Article