USD/CHF posts mild losses as President Trump reignites tariff fears ahead of the July 9 deadline. The Swiss Franc strengthens as the US Dollar loses momentum on safe-haven demand. USD/CHF consolidates below 0.800 ahead of Trump’s ‘Big Beautiful Bill’ signing. The Swiss Franc (CHF) is posting modest gains against the US Dollar (USD) on Friday, as renewed fiscal and…
Oil prices fell just over 1% at the Globex open on Sunday evening US time after OPEC+ announced a larger-than-expected increase in output for August, consolidating a strategic shift to regain market share The alliance of oil-producing nations said it would boost production by 548,000 barrels per day, a sharp rise from the previously planned 411,000 bpd, catching markets…
Semiconductors are the fourth most traded good globally and impact a host of consumer goods. Semiconductor supply chain is complex, with different economies dominating different parts. US administration is conducting investigations into semiconductor supply chains; threatening tariffs. US industry representatives prefer domestic incentives over tariffs, Standard Chartered’s economists Madhur Jha and Ethan Lester report. Tariff impact could be far-reaching…
A cargo ship was attacked and set ablaze in the Red Sea off Yemen on Sunday, prompting the crew to abandon ship as it began taking on water. Liberian-flagged, Greek-owned bulk carrier Magic Seas first targeted by gunfire and rocket-propelled grenades launched from eight small boats armed security on board returned fire vessel was later hit by four sea…
The price of Gold slumped in the wake of stronger-than-expected US employment growth in June, but the losses were limited, Commerzbank’s Head of FX and Commodity Research Thu Lan Nguyen notes. Setback for Gold is likely to be short-lived “A closer look at the labour market report revealed some weaknesses. Much of the employment growth was in the public…
In the European session, we have just a couple of low tier releases like the construction PMI, the Italian retail sales and the Eurozone PPI. None of these data points will change anything for the market or the ECB. In the American session, we just have the Canadian services PMI which is unlikely to be market-moving. Today, it’s a…
Platinum and Palladium prices came under pressure yesterday and reversed most of the gains from the previous day. The price decline occurred much earlier than for Gold and was certainly not related to this. The Platinum price had previously risen almost to its 11-year high from the end of last week again. The high price volatility of the last…
Prior 2.9%; revised to 2.8% The Swiss jobless rate ticked higher in June but only after a revision lower for the month of May. Labour market conditions have been softening but that’s fitting with the situation faced by most major economies in the past year. This article was written by Justin Low at www.forexlive.com.
The British Pound holds steady near 1.3650 amid thin US holiday trading conditions. UK fiscal concerns resurface after the government reverses £5 billion in planned welfare cuts. The July 9 US tariff deadline looms, with UK steel and aluminum sectors still at risk. The British Pound (GBP) is treading water against the US Dollar (USD) on Friday, as the…
Eurostoxx -0.6% Germany DAX -0.2% France CAC 40 -0.8% UK FTSE -0.3% Spain IBEX -0.5% Italy FTSE MIB -0.1% This comes with S&P 500 futures seen down by 0.3% as well. The Globex is still open for a while more but as a reminder, US markets are closed today in observance of the 4th of July weekend. The overall…
