Forex News Timeline

23:48 Oil Price Forecast: WTI rallies to $74 before settling above $72
WTI crude oil is surging amid escalating geopolitical tensions, with Israel’s recent strikes on Iran fueling a rally that pushed prices above the $74.00 handle on Friday.

23:08 Canadian Dollar continues to ride Greenback weakness to new highs
The Canadian Dollar (CAD) caught yet another bid on Friday, climbing into new eight-month highs as the US Dollar (USD) holds in place and Crude Oil prices surge.

22:56 EUR/USD retreats as Israel-Iran conflict jolts markets, ends 4-day rally
EUR/USD ends four-day winning streak, prints losses on Friday as risk appetite takes a hit after Israel launched an attack on Iran, boosting the safe-haven appeal of the US Dollar (USD). At the time of writing, the pair trades around 1.1530, down 0.36%.

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At the time of writing, the pair trades around 1.1530, down 0.36%.Sentiment shifted sourly after breaking news revealed Israel’s attack, which targeted Iranian militia officials, installations and nuclear facilities. Consequently, Iran retaliated, sending over a hundred drones and canceling the sixth round of nuclear negotiations, according to the Tehran Times.On the headlines, the US Dollar appreciated against most G7 currencies, with the Euro being hardly damaged, as the pair hit 1.1488, down almost 0.80% in the day.According to Reuters, US President Donald Trump said that it’s unclear if Iran still has a nuclear program. He said, “I tried to save Iran humiliation and death,” adding that he’s not concerned about a regional breakout.Recently, data from the United States (US) revealed that consumers are growing more optimistic about the economy, according to the University of Michigan (UoM). Regarding inflation expectations, Americans are still seeing prices above the Federal Reserve's (Fed) 2% target, despite inflation data released during the week increasing bets that the Fed could cut rates in 2025.In the Eurozone (EU), German inflation figures for May remained unchanged at 2.1% YoY, as expected. Inflation in France and Spain remains below the European Central Bank (ECB) 2% target. Industrial production across the bloc plummeted in April, following a 2.4% growth in March, and came in at -2.4% YoY, which is below forecasts for a 1.7% contraction.Daily digest market movers: EUR/USD dives on risk-off mood, boosting the DollarDespite retreating, EUR/USD appears poised to resume its uptrend, as ECB officials have become slightly hawkish, and news that US-China talks could provide relief for investors. Nonetheless, an escalation of the Israel-Iran war exerts downward pressure on the pair.The University of Michigan Consumer Sentiment Index rose to 60.5 in June from 52.2, reflecting growing optimism among households. Inflation expectations eased, with the one-year outlook dropping from 6.6% to 5.1% and the five-year forecast ticking down from 4.2% to 4.1%.Next week, the US Federal Reserve (Fed) is expected to keep interest rates unchanged at the June 17-18 meeting. Traders had priced in the expectation that rates would remain unchanged, but what they’re eyeing is the update of the Summary of Economic Projections (SEP).Financial market players do not expect that the ECB would reduce its Deposit Facility Rate by 25 basis points (bps) at the July monetary policy meeting. Euro PRICE This week The table below shows the percentage change of Euro (EUR) against listed major currencies this week. Euro was the strongest against the Australian Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -1.29% -0.28% -0.66% -0.74% 0.12% 0.00% -1.28% EUR 1.29% 1.01% 0.61% 0.54% 1.45% 1.29% -0.00% GBP 0.28% -1.01% -0.31% -0.47% 0.44% 0.28% -1.01% JPY 0.66% -0.61% 0.31% -0.07% 0.74% 0.61% -0.74% CAD 0.74% -0.54% 0.47% 0.07% 0.86% 0.75% -0.54% AUD -0.12% -1.45% -0.44% -0.74% -0.86% -0.15% -1.43% NZD 0.00% -1.29% -0.28% -0.61% -0.75% 0.15% -1.28% CHF 1.28% 0.00% 1.01% 0.74% 0.54% 1.43% 1.28% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote). Technical outlook: EUR/USD hovers below 1.1550 as US Dollar stages a comebackThe EUR/USD uptrend remains in place as the pair has printed a successive series of higher highs and higher lows. In addition, momentum remains bullish, as indicated by the Relative Strength Index (RSI), which remains above its neutral 50 level despite aiming downwards.That said, the first resistance for EUR/USD is 1.1550. A breach of the latter will expose 1.16 and the year-to-date (YTD) peak of 1.1631. Once surpassed, 1.17 is up next. Conversely, if EUR/USD remains below 1.1550, expect a pullback towards 1.15. Once cleared, the next stop would be 1.1450, followed by the 20-day Simple Moving Average (SMA) at 1.1386. Euro FAQs What is the Euro? The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%). What is the ECB and how does it impact the Euro? The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde. How does inflation data impact the value of the Euro? Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money. How does economic data influence the value of the Euro? Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy. How does the Trade Balance impact the Euro? Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

22:18 AUD/USD retreats as geopolitical risks increase, limiting US Dollar weakness
The Australian Dollar (AUD) is weakening against the US Dollar (USD) on Friday, with price action being guided by a combination of factors.

21:21 USD/JPY recovers above 144.00 on Israel-Iran tensions, cautious BoJ
The Japanese Yen (JPY) is trading weaker against the US Dollar (USD) on Friday, as geopolitical tensions and central bank policy divergence drive market flows.

20:52 Gold surges past $3,400 on Israel-Iran war risk, soft US inflation boosts safe-haven demand
Gold price rallied for the third consecutive day after the Israel-Iran conflict erupted on Friday, triggering a risk-off mood in financial markets as fears that it could escalate loom. At the time of writing, XAU/USD trades at $3,422, up more than 1%.

20:23 USD/CAD breaks 1.3600 as US Dollar weakness returns
The Canadian Dollar (CAD) is trading higher against the US Dollar (USD) in the American session on Friday, with the Loonie erasing gains from earlier sessions.

20:02 United States Baker Hughes US Oil Rig Count fell from previous 442 to 439
United States Baker Hughes US Oil Rig Count fell from previous 442 to 439

18:29 Dow Jones Industrial Average erases gains on renewed geopolitical tensions
The Dow Jones Industrial Average (DJIA) fell on Friday, shedding over 600 points from the previous day’s close as investors pulled back following Israel’s unexpected wave of strikes on Iran. Consumer sentiment data rebounded more than expected, helping to ease Friday’s downside momentum.

18:14 GBP/USD plunges as Israel-Iran conflict rattles markets, boosts US Dollar
GBP/USD tumbled over 0.40% on Friday as geopolitical tensions triggered a flow towards the Dollar haven status after Israel launched an attack on Iran, which escalated the Middle East conflict. The pair traded near 1.3550s after hitting a yearly peak of 1.3631.

18:01 Colombia Retail Sales (YoY) came in at 11.4%, above expectations (8.5%) in April
Colombia Retail Sales (YoY) came in at 11.4%, above expectations (8.5%) in April

17:00 United States Michigan Consumer Expectations Index rose from previous 47.9 to 58.4 in June
United States Michigan Consumer Expectations Index rose from previous 47.9 to 58.4 in June

17:00 United States UoM 1-year Consumer Inflation Expectations fell from previous 6.6% to 5.1% in June
United States UoM 1-year Consumer Inflation Expectations fell from previous 6.6% to 5.1% in June

17:00 United States UoM 5-year Consumer Inflation Expectation fell from previous 4.2% to 4.1% in June
United States UoM 5-year Consumer Inflation Expectation fell from previous 4.2% to 4.1% in June

17:00 United States Michigan Consumer Sentiment Index registered at 60.5 above expectations (53.5) in June
United States Michigan Consumer Sentiment Index registered at 60.5 above expectations (53.5) in June

16:16 US Dollar Index (DXY) recovers on Israel-Iran hostilities
The US Dollar Index (DXY) is trading higher on Friday, with markets shifting focus on Israel’s war against Iran.

15:31 Canada Wholesale Sales (MoM) below expectations (-0.9%) in April: Actual (-2.3%)
Canada Wholesale Sales (MoM) below expectations (-0.9%) in April: Actual (-2.3%)

15:30 Canada Capacity Utilization above forecasts (79.8%) in 1Q: Actual (80.1%)
Canada Capacity Utilization above forecasts (79.8%) in 1Q: Actual (80.1%)

14:59 EU gas storage: half full or half empty? – Commerzbank
The mood on the European gas market remains nervous: the next futures contract for the reference price TTF is now trading 5% higher than Tuesday's low, Commerzbank's commodity analyst Barbara Lambrecht notes.

The mood on the European gas market remains nervous: the next futures contract for the reference price TTF is now trading 5% higher than Tuesday's low, Commerzbank's commodity analyst Barbara Lambrecht notes. Two thirds of the gas storage facility in Breitbrunn remains empty"EU storage facilities have recently been filled faster than in previous years and that the gap to the 5-year average has therefore narrowed. So much for the good news. Nonetheless, it will probably still take a lot of effort to fill the storage facilities by the start of next winter." "This is particularly true in Germany, where the filling level is currently only 44% according to the GIE (while the EU as a whole has already reached a filling level of 52%). The news that the operator of what it claims to be the third-largest gas storage facility in Germany has once again failed to find a bidder for additional gas storage capacity has now caused concern." "This means that c. The operator had already announced that the critical filling level of 80% as of 1 November could no longer be achieved due to the slow injection rate for technical reasons. This year's refilling phase will therefore not be a walk in the park."

14:56 EUR fades a portion of this week’s gains on sentiment and softer data – Scotiabank
The Euro (EUR) is weak, down 0.6% and fully retracing Thursday’s ECB (and US PPI)-driven rally, fading back to the psychologically important 1.15 level.

The Euro (EUR) is weak, down 0.6% and fully retracing Thursday’s ECB (and US PPI)-driven rally, fading back to the psychologically important 1.15 level. Medium-term outlook remains bullish"The fundamental outlook for EUR remains supportive, given the shift in the outlook for relative central bank policy as the ECB pivots toward a neutral stance while markets price in greater easing from the Fed." "The release of softer trade and industrial production data have compounded Friday’s sentiment-driven decline, however we remain bullish on the basis of medium-term trends and look to further gains through next week’s FOMC."

14:53 Forecast revision also for Silver, Platinum and Palladium – Commerzbank
In addition to Gold, we have also revised upwards our forecasts for Silver, Platinum and Palladium, Commerzbank's commodity analyst Carsten Fritsch notes.

In addition to Gold, we have also revised upwards our forecasts for Silver, Platinum and Palladium, Commerzbank's commodity analyst Carsten Fritsch notes. Limited upside potential for Palladium"We expect Silver to end the year at $37 per troy ounce, Platinum at $1,250 per troy ounce and Palladium at $1,100 per troy ounce. Previous forecasts were $34 for Silver and $1,000 for both Platinum and Palladium. At the end of next year, we see Silver at $40, Platinum at $1,400 and Palladium at $1,200 (previously $36, $1,100 and $1,050 respectively)." "Silver and Platinum should therefore rise largely in line with Gold, while Palladium is likely to rise much less. The reasons in favour of a rising Gold price can only be applied to Silver to a limited extent and hardly or not at all to Platinum and Palladium. This argues against prices gaining further ground against Gold. Nevertheless, the undervaluation of Silver and Platinum in relation to Gold remains considerable." "Both precious metals are therefore likely to be seen by investors as a cheaper investment alternative. In addition, both markets are likely to remain structurally undersupplied. Palladium, on the other hand, could be at risk of oversupply if demand from the automotive industry continues to fall and more recycling supply from the automotive industry reaches the market at the same time. We therefore see only limited upside potential for Palladium."

14:52 Gold Price Forecast: XAU/USD resumes its uptrend with $3,440 on focus
Gold (XAU/USD) appreciates for the third consecutive day on Friday, and is on track for a weekly rally beyond 3%.

14:49 CAD soft vs. USD but performing well vs. peers – Scotiabank
The Canadian Dollar (CAD) is trading marginally lower vs. the US Dollar (USD) while performing well against most of the G10 currencies, its performance insulated by the Canadian dollar’s relationship to oil prices, Scotiabank's Chief FX Strategist Shaun Osborne notes.

The Canadian Dollar (CAD) is trading marginally lower vs. the US Dollar (USD) while performing well against most of the G10 currencies, its performance insulated by the Canadian dollar’s relationship to oil prices, Scotiabank's Chief FX Strategist Shaun Osborne notes. Fundamentals remain supportive"The CAD/crude correlation is historically positive and oil price gains present a reliable source of support for the Canadian dollar. CAD fundamentals have improved significantly this week, as the notable improvement in the outlook for relative central bank policy has been compounded by meaningful oil price gains." "Our FV estimate for USD/CAD has fallen to a fresh local low, and is currently at 1.3613, reflecting narrowed US-Canada yield spreads and higher prices for crude. Near-term domestic risk lies with the release of manufacturing sales at 8:30am ET, and Canada will host the G7 leaders in Kananaskis, Alberta from June 15 to 17.""Technicals remain bearish, and USD/CAD briefly pushed below 1.36 before its modest sentiment driven rally. The gains have been minimal however, and we would anticipate near-term resistance closer to 1.3680. We note that the RSI is still quite bearish in the mid-30s, having bounced off of the oversold threshold at 30. We continue to highlight the absence of any meaningful support levels ahead of the September low at 1.3420. Near-term support is expected in the 1.3600/1.3580 area."

14:47 Gold price benefits from moderate US price data – Commerzbank
The Gold price rose to $3,445 per troy ounce overnight in response to Israel's attacks on Iran, the highest level since the record high almost two months ago, Commerzbank's commodity analyst Carsten Fritsch notes.

The Gold price rose to $3,445 per troy ounce overnight in response to Israel's attacks on Iran, the highest level since the record high almost two months ago, Commerzbank's commodity analyst Carsten Fritsch notes. Gold is likely to be the main beneficiary of political risks"The price had already approached the $3,400 per troy ounce mark yesterday after US producer prices also rose less than expected in May. Prior to this, US consumer prices had already given no indication of increasing price pressure from the tariffs. Even if it is still far too early to sound the all-clear in this respect, the prospects of interest rate cuts by the Fed are increasing." "An interest rate cut of 25 basis points in September is fully priced into the Fed Funds futures, and a further cut of the same magnitude by the end of the year. US President Trump once again attacked Fed Chairman Powell with harsh words yesterday and called for a substantial interest rate cut. The US dollar came under further pressure as a result, which benefited Gold. The weaker US dollar is an important reason why we have revised our Gold price forecast for this and next year significantly upwards." "Increasing doubts about the future status of the US dollar as a safe haven and the world's leading reserve currency, as well as repeated attacks on the Fed's independence, are playing a key role here. Gold is likely to be the main beneficiary of these doubts because it is free of political risks. For this reason, central banks and private investors are also likely to continue buying Gold on a large scale despite the already high price level, although the further price increase is likely to lose momentum."

14:45 USD strengthens on geopolitical risks as oil offers CAD support – Scotiabank
The US Dollar (USD) is strengthening broadly on the back of geopolitical tensions as market participants respond to news of Israeli airstrikes launched against Iran, Scotiabank's Chief FX Strategist Shaun Osborne notes.

The US Dollar (USD) is strengthening broadly on the back of geopolitical tensions as market participants respond to news of Israeli airstrikes launched against Iran, Scotiabank's Chief FX Strategist Shaun Osborne notes. USD benefits from classic risk aversion"The distribution of FX returns is one of classic risk aversion with underperformance from AUD and NZD, weakness in MXN and SEK, and losses for EUR and GBP. The weakness in classic havens CHF and JPY is somewhat surprising, despite their relative performance vs. G10 peers. The CAD and NOK are faring better, understandably, given their relationship to oil prices. The geopolitical situation remains worrisome and comments from President Trump have hinted to the possibility of additional airstrikes. Broader markets initially traded risk off but appear to be recovering somewhat, with equity futures retracing about half of their knee jerk decline as we head into Friday’s NA open." "Treasury yields, meanwhile, have fully retraced their initial declines and are trading marginally higher vs. Thursday’s closing levels. The surge in oil prices is notable however, and oil prices are holding onto their overnight gains with WTI trading in the mid-$70s, a significant increase from Thursday’s close around $68/bbl and a meaningful departure from recent OPEC oversupply-driven lows just above $55/bbl. Copper is weak, reflecting the broader market’s tone of risk aversion and extending its recent bear reversal while gold has pushed to fresh local highs nearing the upper end of the flat range that has defined its price action since it reached its record high in late April." "The focus for Friday’s NA session will remain centered on geopolitical developments and the possibility of escalation. In terms of data, the US will release preliminary UMich consumer sentiment data—a critical release ahead of next week’s FOMC. Policymakers have historically been sensitive to the data, and the figures present an even greater risk following this week’s disinflationary CPI and PPI as well as the worrisome jobless claims data that have revealed a continued deterioration in the US labor market. The Fed remains in its quiet period ahead of next week’s FOMC, however we note the potential for significant headline risk around the G7 leaders’ summit, scheduled for Sunday through Tuesday."

14:41 USD/CNH: Likely to trade in a range between 7.1700 and 7.1950 – UOB Group
US Dollar (USD) is likely to trade in a range between 7.1700 and 7.1950. In the longer run, USD has likely moved into a 7.1620/7.2200 range trading phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

US Dollar (USD) is likely to trade in a range between 7.1700 and 7.1950. In the longer run, USD has likely moved into a 7.1620/7.2200 range trading phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. USD has likely moved back into a range trading phase24-HOUR VIEW: "We expected USD to 'edge higher', but we pointed out that 'any advance is likely limited to a test of 7.2070.' However, USD fell and closed at 7.1740 before rebounding in early Asian trade today. The decline did not result in a significant increase in downward momentum. This, combined with the rebound, suggests USD is likely to trade in a range today, probably between 7.1700 and 7.1950." 1-3 WEEKS VIEW: "In our most recent narrative from Monday (09 Jun, spot at 7.1870), we highlighted that the recent 'mild downward momentum has eased, and USD has likely moved back into a range trading phase, probably between 7.1620 and 7.2200.' Since then, USD has traded within the range, and our view remains unchanged for now."

14:39 India FX Reserves, USD: $696.66B (June 2) vs $691.49B
India FX Reserves, USD: $696.66B (June 2) vs $691.49B

14:39 US Oil production has apparently passed its peak – Commerzbank
In its latest monthly report, the US Energy Information Administration (EIA) has revised its forecast for US Oil production downwards, Commerzbank's commodity analyst Carsten Fritsch notes.

In its latest monthly report, the US Energy Information Administration (EIA) has revised its forecast for US Oil production downwards, Commerzbank's commodity analyst Carsten Fritsch notes. Drilling activity in the US has fallen significantly since mid-March"It still expects an increase of a good 200 thousand barrels per day for this year. However, this is only because production in the first half of the year was higher than previously expected. Accordingly, production peaked in April at 13.59 million barrels per day. Previously, the EIA had expected this to happen in December 2025 at 13.7 million barrels per day. The new forecast at the end of the year is around 250 thousand barrels per day lower than the previous one. The downward revisions to production also extend to next year." "As a result, US Oil production is expected to average a good 40 thousand barrels per day below the 2025 level. This would be the first decline in production since 2021, when production fell as a result of the coronavirus-related slump in the previous year. The sharp interim fall in Oil prices is also likely to play a key role in the deterioration in production prospects this time. Drilling activity in the US has fallen significantly since mid-March and, according to data from Baker Hughes, is at its lowest level since autumn 2021 with 442 active Oil rigs." "Even the easier access to drilling permits by the US government can do little to change this. US President Trump's mantra ‘Drill, baby drill!’ is therefore reaching its limits. After all, lower Oil prices mean that there is no incentive for producers to make use of these licences. Even in the largest shale Oil deposit, the Permian Basin, production is expected to fall slightly in the coming year. The beneficiary of this development is OPEC+, which could regain lost market share from US shale Oil producers. Saudi Arabia is likely to feel vindicated in its decision to increase production further in the coming months."

14:30 USD/JPY: Further decline may not reach 142.20 today – UOB Group
Strong momentum could outweigh oversold conditions, but any further decline in US Dollar (USD) may not reach 142.20 today.

Strong momentum could outweigh oversold conditions, but any further decline in US Dollar (USD) may not reach 142.20 today. In the longer run, not only has the likelihood of a recovery dissipated, but the chance of USD declining to 142.20 has also increased, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. The likelihood of a recovery dissipated24-HOUR VIEW: "We indicated yesterday that 'the current price movements are likely part of a range trading phase, expected to be between 143.60 and 145.10.' Our assessment was incorrect, as USD broke below 143.60, reaching a low of 143.16 before closing at 143.47. At the time of writing in the early Asian trade today, USD has fallen below 143.00. While strong downward momentum could outweigh oversold conditions, any further decline may not be able to reach 142.20 today (there is another support level at 142.50). On the upside, any recovery is likely to face strong resistance at 143.95, with minor resistance at 143.65." 1-3 WEEKS VIEW: "In our most recent narrative from Monday (09 Jun, spot at 144.70), we indicated that the increase in upward momentum is not sufficient to indicate a sustained advance just yet.' However, we pointed out that 'if USD were to break and hold above 145.50, it could potentially trigger a strong recovery.' Yesterday, USD broke below our ‘strong support’ level of 143.60. Not only has the likelihood of a recovery dissipated, but the chance of USD declining to 142.20 has also increased. However, should USD break above 144.40, it would suggest that it could trade in a broad range for a period of time."

14:25 Gold remains in demand as a safe haven – Commerzbank
In response to Israel's attacks on Iran, the price of Gold also jumped, albeit without reaching a new record high, Commerzbank's commodity analysts Barbara Lambrecht and Carsten Fritsch notes.

In response to Israel's attacks on Iran, the price of Gold also jumped, albeit without reaching a new record high, Commerzbank's commodity analysts Barbara Lambrecht and Carsten Fritsch notes. Gold to trade at $3,400 per troy ounce by the end of this year"In a report, the ECB emphasised the great importance of central banks for the Gold market. After all, they have accounted for around 20% of global Gold purchases in the last three years. Together with the higher price, this has resulted in Gold reaching a higher share of foreign currency reserves than the euro at the end of 2024, replacing it as the second-largest reserve asset." "Next Tuesday, the Gold mining association WGC will publish the results of its annual survey of central banks regarding their planned or expected Gold purchases. Last year, a record 80% of the central banks surveyed said that they expected further central bank purchases over the next 12 months." "We have raised our forecast for the Gold price due to the ongoing geopolitical uncertainty and expectations of a more pronounced weakness of the US dollar: we now expect a Gold price of $3,400 per troy ounce by the end of this year and $3,600 by the end of next year (previously $3,000 in each case)."

14:22 NZD/USD: Unlikely to reach 0.5970 – UOB Group
New Zealand Dollar (NZD) could weaken further against US Dollar (USD), but it is unlikely to reach 0.5970; note that there is another support level at 0.5995.

New Zealand Dollar (NZD) could weaken further against US Dollar (USD), but it is unlikely to reach 0.5970; note that there is another support level at 0.5995. In the longer run, upward pressure has faded; NZD is likely to trade in a range of 0.5970/0.6080 for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. Upward pressure has faded24-HOUR VIEW: "When NZD was at 0.6035 yesterday, we held the view that it 'is likely to trade in a sideways range of 0.6015/0.6055.' We underestimated the volatility as after dipping to 0.6008, NZD soared to 0.6071. NZD closed 0.70% higher at 0.6069 in NY, but it fell sharply in early Asian trade today. The rapid increase in downward momentum suggests NZD could weaken further, even though it is unlikely to reach the major support at 0.5970. Note that there is another support level at 0.5995. On the upside, resistance levels are at 0.6050 and 0.6070." 1-3 WEEKS VIEW: "We have maintained the same view since last Friday (06 Jun, spot at 0.6045), in which we indicated that 'upward momentum remains largely unchanged, but there is a chance for NZD to test 0.6095.' Yesterday, NZD dipped below our ‘strong support’ level of 0.6010. Upward pressure has faded, and instead of testing 0.6095, NZD is likely to trade in a range of 0.5970/0.6080 for now."

14:18 Gold: Uptrend resumes toward $3500 – Société Générale
Gold resumes its upward trajectory after holding key support levels, now challenging recent highs with upside targets in sight, Société Générale's FX analysts note.

Gold resumes its upward trajectory after holding key support levels, now challenging recent highs with upside targets in sight, Société Générale's FX analysts note. Gold pushes toward $3437 High"Gold broke out above a short-term descending trend line denoting resumption in up move. Recent pullback remained contained at that line and the 50-DMA denoting prevalence of upward momentum. Gold is now challenging recent pivot high ($3437)." "Signals of a large downside are not yet visible. Defence of the MA at $3290 may result in persistence of up move. Next objectives could be located at $3500 and projections of $3575/3585."

14:16 AUD/USD: Major support at 0.6430 is unlikely to come under threat – UOB Group
There is scope for Australian Dollar (AUD) to decline to 0.6460 against US Dollar (USD); the major support at 0.6430 is unlikely to come under threat.

There is scope for Australian Dollar (AUD) to decline to 0.6460 against US Dollar (USD); the major support at 0.6430 is unlikely to come under threat. 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. AUD appears to have moved into a range between 0.6430 and 0.655024-HOUR VIEW: "We expected AUD to 'trade in a range between 0.6490 and 0.6535' yesterday. However, AUD dipped to 0.6478, rebounded to 0.6534, and then closed at 0.6532. At the time of writing in the early Asian session, AUD has fallen sharply from the closing level. The decline has scope to extend to 0.6460. The major support at 0.6430 is unlikely to come under threat. Resistance levels are at 0.6515 and 0.6535." 1-3 WEEKS VIEW: "We have expected a positive bias in AUD since early last week. In our latest narrative from last Friday (06 Jun, spot at 0.6510), we indicated that 'the bias remains on the upside, but it remains to be seen if AUD can break clearly above 0.6555.' Two days ago, AUD rose briefly to 0.6546. Yesterday, AUD dipped below our ‘strong support’ level at 0.6480 (low of 0.6478). The breach of our ‘strong support’ level indicates that the upside bias has faded. The current price movements are likely the early stages of a range-trading phase, and we expect AUD to trade between 0.6430 and 0.6550 for the time being."

14:15 Gold prices soar after Israel attack on Iran sparks safe-haven flows
Gold (XAU/USD) is trading in a strong uptrend after Israel’s attack on Iran. The strikes were reported on Friday morning, two days before Iran and the United States (US) were expected to hold the sixth round of talks over Tehran’s nuclear program in Oman on Sunday.

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The strikes were reported on Friday morning, two days before Iran and the United States (US) were expected to hold the sixth round of talks over Tehran’s nuclear program in Oman on Sunday.At the time of writing, Gold is trading above $3,400 against the US Dollar (USD) on Friday, with markets focused on any further developments in the Middle East, particularly the threats of retaliation from Iran. On the US economic calendar, market participants will also be looking out for the results from the University of Michigan Consumer Sentiment report and Inflation Expectations, scheduled for release on Friday.Gold prices are highly sensitive to shifts in consumer sentiment, making this Friday’s consumer sentiment release a critical event to watch. As a leading indicator of economic confidence and inflation expectations, the index offers early insight into potential changes in US consumer behavior and pricing pressures.Israel attacks Iran’s nuclear facilities - Gold prices rallyOn Friday, Reuters and Bloomberg reported that Israel had struck multiple facilities in Iran. Israeli Prime Minister Netanyahu confirmed the attacks, citing that Israel had “struck at the heart of Iran’s nuclear enrichment program”. Reports from Israel confirmed that roughly 100 targets had been hit using 200 air force planes.Several senior officials of Iran have been killed, including Hossein Salami, the head of the Islamic Revolutionary Guard Corps, and the military chief of staff, Mohammed Bagheri. Multiple nations, including Saudi Arabia and China, have condemned the attacks. Chinese foreign ministry spokesperson, Lin Jian, said that “China urges all relevant parties to do more to promote regional peace and stability and to avoid further escalation of the situation. China stands ready to play a constructive role in helping de-escalate the situation.”Daily digest market movers: Israel attacks, US Michigan Sentiment in focusThe escalation in tensions emerged on Thursday after the United Nations' nuclear watchdog adopted a resolution stating that Iran is violating its obligations under the nuclear non-proliferation agreement. In response, Tehran announced plans to escalate its nuclear activities, asserting that it had “no option but to respond.” Uranium, the core fuel used in nuclear energy, can be weaponized when highly enriched. Iran continues to insist that its nuclear program is intended solely for peaceful purposes.Trump said on Thursday that an Israeli strike on Iran “could very well happen,” and warned of a possible “massive conflict” taking place in the Middle East “soon.” Trump confirmed on Wednesday that US personnel are being moved out of parts of the Middle East due to the escalating tensions between Israel and Iran. This occurs ahead of the sixth round of nuclear talks between the US and Iran, scheduled for this weekend which has since been cancelled.On the economic data front, the release of US Producer Price Index (PPI) data on Thursday showed that inflation is slowing on the wholesale level. Headline PPI showed an annual increase of 2.6% in May, in line with analyst forecasts, following a 2.5% increase in April. Core PPI, which excludes volatile goods, fell to 3% in May, down from 3.2% in April. PPI data followed the release of the US Consumer Price Index (CPI) on Wednesday, which showed that inflation at the consumer level continued to ease in May.As for the University of Michigan release, traders will pay particular attention to the one-year and five-year inflation expectations included in the report, which are closely monitored by the Federal Reserve. Technical analysis: Gold prices break $3,400Gold prices rallied on Friday after reports of the attacks, breaking above the former $3,400 psychological resistance level, which has now turned into support.The safe-haven appeal of Gold lifted XAU/USD to its second-highest peak this year near $3,444. This level is now providing intermediate resistance for the yellow metal.Meanwhile, support remains firm at $3,400, with a move lower bringing the $3,385 mark into play. The latter is another crucial level that has limited the upside move in Gold prices on several occasions throughout the week.Meanwhile, the Relative Strength Index (RSI) stands at 60 and points upwards, indicating a bullish bias. On the downside, the $3,350 psychological level, which has provided support throughout the week, remains intact. Below that is $3,291, the 23.6% Fibonacci retracement of the January-April uptrend.For bearish momentum to gain traction, a breach of this zone may pave the way for the next big psychological level of $3,200. Risk sentiment FAQs What do the terms"risk-on" and "risk-off" mean when referring to sentiment in financial markets? In the world of financial jargon the two widely used terms “risk-on” and “risk off'' refer to the level of risk that investors are willing to stomach during the period referenced. In a “risk-on” market, investors are optimistic about the future and more willing to buy risky assets. In a “risk-off” market investors start to ‘play it safe’ because they are worried about the future, and therefore buy less risky assets that are more certain of bringing a return, even if it is relatively modest. What are the key assets to track to understand risk sentiment dynamics? Typically, during periods of “risk-on”, stock markets will rise, most commodities – except Gold – will also gain in value, since they benefit from a positive growth outlook. The currencies of nations that are heavy commodity exporters strengthen because of increased demand, and Cryptocurrencies rise. In a “risk-off” market, Bonds go up – especially major government Bonds – Gold shines, and safe-haven currencies such as the Japanese Yen, Swiss Franc and US Dollar all benefit. Which currencies strengthen when sentiment is "risk-on"? The Australian Dollar (AUD), the Canadian Dollar (CAD), the New Zealand Dollar (NZD) and minor FX like the Ruble (RUB) and the South African Rand (ZAR), all tend to rise in markets that are “risk-on”. This is because the economies of these currencies are heavily reliant on commodity exports for growth, and commodities tend to rise in price during risk-on periods. This is because investors foresee greater demand for raw materials in the future due to heightened economic activity. Which currencies strengthen when sentiment is "risk-off"? The major currencies that tend to rise during periods of “risk-off” are the US Dollar (USD), the Japanese Yen (JPY) and the Swiss Franc (CHF). The US Dollar, because it is the world’s reserve currency, and because in times of crisis investors buy US government debt, which is seen as safe because the largest economy in the world is unlikely to default. The Yen, from increased demand for Japanese government bonds, because a high proportion are held by domestic investors who are unlikely to dump them – even in a crisis. The Swiss Franc, because strict Swiss banking laws offer investors enhanced capital protection.

14:10 Brent confirms double bottom – Société Générale
Brent crude is showing bullish continuation signals after confirming a double bottom and breaking above its consolidation range, with momentum indicators pointing toward further upside, Société Générale's FX analysts note.

Brent crude is showing bullish continuation signals after confirming a double bottom and breaking above its consolidation range, with momentum indicators pointing toward further upside, Société Générale's FX analysts note.Technical breakout in Brent crude signals further upside potential"Brent formed a double bottom near $58.40 recently and has overcome the upper limit of its base highlighting possibility of extension in up move. Daily MACD has crossed within positive territory highlighting prevalence of upward momentum." "Next objectives could be located at the 200-DMA near $72 and April high of $75.40. Upper limit of recent range at $66.60/66.40 is a short-term support."

14:08 GBP/USD: A move to 1.3700 can be expected above 1.3640 – UOB Group
Pound Sterling (GBP) is likely to trade in a range of 1.3540/1.3640. 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.

Pound Sterling (GBP) is likely to trade in a range of 1.3540/1.3640. 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. Likelihood of closing above 1.3640 remains intact above 1.351524-HOUR VIEW: "On Wednesday, GBP dropped to 1.3466 before rebounding strongly. In the early Asian session yesterday, when GBP was at 1.3525, we indicated that 'further rebound is not ruled out, but given the overbought conditions, any advance is unlikely to reach 1.3620.' We pointed out that 'support levels are at 1.3535 and 1.3515.' In the early London session, GBP plummeted to 1.3525 and then reversed sharply to reach 1.3623 in the NY session before closing at 1.3615 (+0.58%). Conditions are deeply overbought, and GBP is unlikely to rise much further. Overall, GBP is more likely to trade in a higher range of 1.3540/1.3640." 1-3 WEEKS VIEW: "We highlighted yesterday (12 Jun, spot at 1.3565) that GBP 'appears to have moved into a 1.3495/1.3620 range trading phase.' GBP subsequently rose to a high of 1.3623, closing at 1.3615 (+0.58%). Upward momentum is increasing, but we prefer to wait for a decisive close above 1.3640 before revising our GBP outlook to positive. The likelihood of GBP closing above 1.3640 will remain intact as long as 1.3515 is not breached. Looking ahead, should GBP close above 1.3640, the focus will shift to 1.3700."

14:04 GBP: A rough week gets rougher – ING
The week has been a rather negative one for the pound’s domestic drivers, ING's FX analyst Francesco Pesole notes.

The week has been a rather negative one for the pound’s domestic drivers, ING's FX analyst Francesco Pesole notes.Bearish USD bets are preventing USD gains from being sustainable"April GDP surprised yesterday with a 0.3% month-on-month contraction, and our economist notes how growth may well get worse later in the year. Adding to that, payrolls dropped significantly in May, and a relatively uneventful spending review event did very little to suggest the government can dodge tax rises at the Autumn budget.""In line with our call, EUR/GBP has broken above 0.8500, and prolonged geopolitical turmoil in the Middle East should drive further gains in the pair, where we retain a bullish bias.""Cable has potentially a wide room for downside correction given how expensive it looks relative to rate differentials. But we have seen how structurally bearish USD bets are preventing dollar gains from being sustainable. So we’d be more cautious on that side."

14:04 AUD/JPY Price Forecast: Recovers early losses sharply
The AUD/JPY pair claws back a majority of early losses and rebounds from the intraday low of 92.32 during European trading hours on Friday. Still, the pair is down 0.5% to near 93.30.

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p{font-size:14.72px;line-height:20px}.fxs-event-module-read-more{font-size:14.72px;line-height:20px}.fxs-event-module-calendar-title{font-size:22.4px;line-height:25.6px}.fxs-event-module-title{font-size:19.2px;line-height:27.2px}.fxs-event-module-header{font-size:19.2px;line-height:25.92px}.fxs-event-module-content{font-size:16px;line-height:21.6px}}AUD/JPY recovers most of its initial losses while the market sentiment remains risk-averse.Israel launched a series of attacks on military bases and nuclear facilities of Iran.Next week, the BoJ is expected to keep interest rates steady at 0.5%.The AUD/JPY pair claws back a majority of early losses and rebounds from the intraday low of 92.32 during European trading hours on Friday. Still, the pair is down 0.5% to near 93.30. The cross faced a sharp selling pressure earlier in the day as tensions in the Middle East have diminished demand for risk-perceived assets, such as the Australian Dollar (AUD). Australian Dollar PRICE Today The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the weakest against the US Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD 0.69% 0.54% 0.61% 0.24% 0.98% 1.18% 0.44% EUR -0.69% -0.11% -0.03% -0.38% 0.37% 0.46% -0.25% GBP -0.54% 0.11% 0.04% -0.35% 0.40% 0.56% -0.12% JPY -0.61% 0.03% -0.04% -0.34% 0.38% 0.55% -0.15% CAD -0.24% 0.38% 0.35% 0.34% 0.72% 0.95% 0.23% AUD -0.98% -0.37% -0.40% -0.38% -0.72% 0.17% -0.52% NZD -1.18% -0.46% -0.56% -0.55% -0.95% -0.17% -0.69% CHF -0.44% 0.25% 0.12% 0.15% -0.23% 0.52% 0.69% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote). Early Friday, Israel struck a number of military and nuclear facilities in Iran, aiming to restrict them from building nuclear warheads. In retaliation, Tehran has launched about 100 drones towards Israel, BBC reported.During the European session, United States (US) President Donald Trump has urged Iran to make a deal before it gets too late through a post on Truth.Social.Meanwhile, the demand for the Japanese Yen (JPY) as a safe-haven asset has increased.Going forward, investors will focus on the Bank of Japan’s (BoJ) monetary policy on Tuesday, in which the central bank is expected to hold interest rates steady at 0.5%.AUD/JPY exhibits a volatile performance near the 20-day Exponential Moving Average (EMA), which is around 93.33, suggesting that the near-term trend is uncertain.The 14-day Relative Strength Index (RSI) falls after failing to hold above 60.00, indicating that the upside is capped.The pair could revisit the March 18 high of 95.70 and extend its upside beyond that towards the February 19 high of 96.77 if it manages to break above the May 15 high of 94.37.In an alternate scenario, a downside move by the pair below the May 23 low of 91.65 could expose it to the April 29 low of 90.60, followed by the psychological level of 90.00.AUD/JPY daily chart Economic Indicator BoJ Interest Rate Decision The Bank of Japan (BoJ) announces its interest rate decision after each of the Bank’s eight scheduled annual meetings. Generally, if the BoJ is hawkish about the inflationary outlook of the economy and raises interest rates it is bullish for the Japanese Yen (JPY). Likewise, if the BoJ has a dovish view on the Japanese economy and keeps interest rates unchanged, or cuts them, it is usually bearish for JPY. Read more. Next release: Tue Jun 17, 2025 03:00 Frequency: Irregular Consensus: - Previous: 0.5% Source: Bank of Japan

14:02 GBP/USD: Rally stalled – OCBC
Pound Sterling (GBP) had a choppy session overnight. Pair was last at 1.3533 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Pound Sterling (GBP) had a choppy session overnight. Pair was last at 1.3533 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note. Daily momentum is flat"GBP fell at first due to softer than expected prints for April GDP, industrial production, then later erased losses to trade above 1.36-handle at one point after USD fell broadly (as US PPI underwhelmed)." "But the move above 1.36 was short-lived as geopolitical escalation between Israel and Iran saw GBP ease lower. Daily momentum is flat while RSI fell. Pullback lower in the near term not ruled out. Support at 1.35 (21 DMA), 1.3440 levels. Resistance at 1.3630 (overnight high)."

14:00 USD: Geopolitical risk opens room for brief dollar rebound – ING
The dollar is stronger across the board this morning after Israel attacked Iran's nuclear facilities. The main transmission channel from this specific geopolitical risk and FX is the price of oil, which has rallied around 8% since the Israeli strike.

The dollar is stronger across the board this morning after Israel attacked Iran's nuclear facilities. The main transmission channel from this specific geopolitical risk and FX is the price of oil, which has rallied around 8% since the Israeli strike. In other conditions, the DXY rally would likely be much larger than the roughly 0.75% rebound from the overnight lows we have seen so far, because the dollar would also benefit from the negative shock in equities and bonds. But USD’s traditional correlations have disappeared of late, and it’s likely that the 1.5% drop in S&P 500 futures is doing more to cap gains, ING's FX analyst Francesco Pesole notes. USD’s traditional correlations have disappeared"What matters most for FX at this stage is the depth and length of the Middle East escalation's impact on oil prices. The key difference from previous Israel-Iran standoffs is that nuclear facilities have now been targeted, and while oil production does not seem to be affected just yet, markets have to add in a bigger risk premium given the crucial role of Iran in global oil supply. The next key risk is whether further escalations lead to disruptions in the Strait of Hormuz, which can seriously impact flows from the Persian Gulf, where most of OPEC’s spare capacity incidentally sits.""While it’s hard to speculate on the situation at the moment, Israel has announced more strikes will follow and Iran's retaliation has already started. The risks now point more definitively towards a prolonged period of tension, in contrast to recent episodes. And we think this could continue to take some pressure off the dollar. While the US may well intervene with oil reserves to curb excessive price spikes, the new risk premium added to crude means inflationary risks are rising at a time when the bulk of the price impact from tariffs in the US is set to materialise." "We had felt the USD negative reaction to the soft CPI print was exaggerated, and new geopolitical tensions give the Fed another argument to stay cautious, arguing for that CPI move to be scaled back. Today, the US calendar includes the University of Michigan surveys, which have generally painted a grimmer picture of inflation and sentiment than other indicators."

14:00 UoM US Consumer Sentiment set to rise slightly as markets focus on inflation expectations
The United States (US) will see the release of the preliminary estimate of the June University of Michigan's (UoM) Consumer Sentiment Index on Friday. The report is a monthly survey conducted by the University that gathers information on consumer expectations for the economy.

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.fxs-event-module-header{font-size:12.8px;line-height:17px}.fxs-event-module-read-more{display:flex;align-items:center;align-content:center;gap:4px;color:#e4871b;font-size:12.8px;font-family:Roboto;font-style:normal;font-weight:700;line-height:17px;text-decoration:none}.fxs-event-module-read-more svg{width:16px;height:16px}.fxs-event-module-read-more:hover span{text-decoration:underline}.fxs-event-module-release{margin:0;display:flex;flex-direction:column;gap:2px}.fxs-event-module-release>p{font-size:12.8px;font-family:Roboto;font-style:normal;line-height:17px;margin:0}.fxs-event-module-release>p>strong{color:#8c8d91;font-weight:700}.fxs-event-module-release>p>span{color:#8c8d91;font-weight:400}.fxs-event-module-release>p>a{color:#e4871b;font-weight:700;text-decoration:none}.fxs-event-module-release>p>a:hover>span{text-decoration:underline}.fxs-event-module-inner-calendar .fxs-event-module-container{margin:16px 0 0 0;border-top:1px solid #ececf1;padding:12px 0 0 0}@media (min-width:680px){.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:14.72px;line-height:20px}.fxs-event-module-release p{font-size:14.72px;line-height:20px}.fxs-event-module-read-more{font-size:14.72px;line-height:20px}.fxs-event-module-calendar-title{font-size:22.4px;line-height:25.6px}.fxs-event-module-title{font-size:19.2px;line-height:27.2px}.fxs-event-module-header{font-size:19.2px;line-height:25.92px}.fxs-event-module-content{font-size:16px;line-height:21.6px}}Consumer Sentiment in the US is expected to remain subdued, according to the University of Michigan survey.The main focus will be on whether five-year inflation expectations continue to fall after declining in May for the first time since December 2024.The US Dollar Index may extend its slide to fresh multi-year lows. The United States (US) will see the release of the preliminary estimate of the June University of Michigan's (UoM) Consumer Sentiment Index on Friday. The report is a monthly survey conducted by the University that gathers information on consumer expectations for the economy. Two weeks after the release of the flash reading, the UoM publishes a final estimate.The report includes different sub-readings, which have lately impacted financial markets. On the one hand, it offers a Current Conditions Index and a Consumer Expectations Index. On the other hand, and more critical to financial markets, it offers one-year and five-year inflation expectations. Consumer Sentiment, according to the UoM, stood at 52.2 in May, unchanged from April, after falling for four consecutive months. The Current Conditions Index fell to 58.9 from 59.8 in the same period, while the Consumers Expectations Index ticked modestly higher to 47.9 from 47.3. Inflation expectations in focus after tariff woes More relevant, the one-year inflation outlook component of the survey increased to 6.6% from 6.5%, while the five-year inflation outlook eased to 4.2% from the 4.4% posted in April. The official report states: “This is the smallest increase since the election and marks the end of a four-month streak of extremely large jumps in short-run expectations,” referring to the one-year inflation outlook, adding that the fall in the longer-term price outlook was the first since December 2024.“Given that consumers generally expect tariffs to pass through to consumer prices, it is no surprise that trade policy has influenced consumers’ views of the economy. In contrast, despite the many headlines about the tax and spending bill that is moving through Congress, the bill does not appear to be salient to consumers at this time,” the report added.The figures could have a significant impact on financial markets, particularly after the release on Wednesday of the May Consumer Price Index (CPI) figures. Inflation, as measured by the change in the CPI, rose to 2.4% on a yearly basis in May from 2.3% in April, below the 2.5% expected, according to the US Bureau of Labor Statistics (BLS). Additional signs of easing inflationary pressures could revive confidence in the US economic performance and alleviate concerns related to tariffs. How can the UoM report affect the US Dollar?The US Dollar Index (DXY) plunged on Thursday to multi-year lows in the 98.70 region amid fresh trade and geopolitical tensions. Despite easing US-China trade tensions, US President Donald Trump made some worrisome comments on Wednesday, stating that he was willing to extend the July 8 deadline for completing trade talks, but also added that he is ready to impose unilateral tariffs within two weeks.The market sentiment also soured on renewed Middle East tensions. News indicate that Israel is preparing an operation against Iran, with the US expecting retaliatory measures. The headline came after US-Iran nuclear talks appeared to have halted. Valeria Bednarik, Chief Analyst at FXStreet, notes: “The DXY is extremely oversold, according to technical readings in the daily chart, but there are no signs of downward exhaustion. Given that the slump is sentiment-driven, additional slides can not be ruled out. Speculative interest will look for reasons to keep selling the Greenback, although the DXY may recover ahead of the weekly close amid profit-taking.”Bednarik adds: “The DXY bottomed around the 97.70 on a weekly basis in March 2022, the immediate support area. Once below it, the index could extend its slide towards the 97.00 mark. Conversely, a recovery would see the index testing the 98.00 threshold, ahead of 98.35, where the DXY bottomed on June 5.” Tariffs FAQs What are tariffs? Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas. What is the difference between taxes and tariffs? Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers. Are tariffs good or bad? There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs. What is US President Donald Trump’s tariff plan? During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.
Economic Indicator Michigan Consumer Sentiment Index The Michigan Consumer Sentiment Index, released on a monthly basis by the University of Michigan, is a survey gauging sentiment among consumers in the United States. The questions cover three broad areas: personal finances, business conditions and buying conditions. The data shows a picture of whether or not consumers are willing to spend money, a key factor as consumer spending is a major driver of the US economy. The University of Michigan survey has proven to be an accurate indicator of the future course of the US economy. The survey publishes a preliminary, mid-month reading and a final print at the end of the month. Generally, a high reading is bullish for the US Dollar (USD), while a low reading is bearish. Read more. Next release: Fri Jun 13, 2025 14:00 (Prel) Frequency: Monthly Consensus: 53.5 Previous: 52.2 Source: University of Michigan Why it matters to traders? Consumer exuberance can translate into greater spending and faster economic growth, implying a stronger labor market and a potential pick-up in inflation, helping turn the Fed hawkish. This survey’s popularity among analysts (mentioned more frequently than CB Consumer Confidence) is justified because the data here includes interviews conducted up to a day or two before the official release, making it a timely measure of consumer mood, but foremost because it gauges consumer attitudes on financial and income situations. Actual figures beating consensus tend to be USD bullish.

13:38 WTI nears $73.00 with Middle East tensions keeping downside attempts limited
Oil prices have rallied beyond 7% so far today, boosted by growing concerns of a full-blown war in the Middle East that would ignite an already volatile region and cause a severe disruption in global Oil supply.Israel attacked Iran with unprecedented strength earlier today, hitting key nuclear sites

13:04 US President Trump: Iran must make a deal before there is nothing left
US President Donald Trump took to his social media platform, Truth Social, on Friday to say that ”Iran must make a deal before there is nothing left.”

US President Donald Trump took to his social media platform, Truth Social, on Friday to say that ”Iran must make a deal before there is nothing left.”
developing story ....

13:02 USD/JPY jumps to near 144.00 while both currencies advance amid Middle East tensions
The USD/JPY pair climbs to near 144.00 during European trading hours on Friday after recovering early losses. The pair strengthens as the US Dollar (USD) outperforms across the board amid growing war tensions between Israel and Iran.

12:55 DXY: Return of safe haven – OCBC
US Dollar (USD) fell overnight as US PPI data underwhelmed. DXY was last at 98.32 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

US Dollar (USD) fell overnight as US PPI data underwhelmed. DXY was last at 98.32 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note. Daily momentum is mild bearish bias"But USD rebounded this morning, alongside other safe-haven proxies, including CHF, JPY and gold on geopolitical escalation. Israel attacks on Iran also saw >10% jump in brent. ""Not surprisingly, risk proxies including AUD and KRW traded on the backfoot. Iran has indicated that they will respond 'harshly'. Geopolitical noises may temporarily distort the USD downtrend and temporarily weigh on risk proxies especially heading into the weekend.""Daily momentum is mild bearish bias while RSI shows signs of rising from near oversold conditions. Support at 97.60 (overnight low). Resistance at 99.30 (21 DMA), 99.80 levels (50 DMA)."

12:52 EUR/USD: The levels to watch are 1.1640 and 1.1700 – UOB Group
Conditions are deeply overbought; any further advance is likely part of a higher range of 1.1530/1.1640. In the longer run, EUR is likely to continue to rise; the levels to watch are 1.1640 and 1.1700, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Conditions are deeply overbought; any further advance is likely part of a higher range of 1.1530/1.1640. In the longer run, EUR is likely to continue to rise; the levels to watch are 1.1640 and 1.1700, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. EUR is likely to continue to rise24-HOUR VIEW: "While we indicated yesterday that 'there is scope for EUR to continue to rise', we were of the view that “the major resistance at 1.1535 is probably out of reach.” However, EUR lifted off and surged to a high of 1.1631 before closing at 1.1583 (+0.84%), its highest level since Nov 2021. Conditions are deeply overbought, and while EUR may rise above 1.1631, any further advance is likely part of a higher range of 1.1530/1.1640." 1-3 WEEKS VIEW: "After EUR soared and closed 0.56% higher at 1.1487 two days ago, we indicated yesterday (12 Jun. spot at 1.1495) that 'given the rapid buildup in upward momentum, EUR could continue to rise towards 1.1535.' However, we pointed out that 'it is too early to tell if there is enough momentum for EUR to reach last month’s high, near 1.1575.' EUR subsequently not only broke above both levels but also surged to a high of 1.1631. There has been a sharp increase in upward momentum, and EUR is likely to continue to rise. The levels to watch are 1.1640 and 1.1700. On the downside, if EUR were to break below 1.1480 (‘strong support’ level was at 1.1425 yesterday), it would indicate that the immediate upward pressure has eased."

12:49 EUR/USD: Some retracement in the near term – OCBC
Euro (EUR) traded an overnight high of 1.1631 before erasing gains on heightened geopolitical tensions. Pair was last at 1.1520 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Euro (EUR) traded an overnight high of 1.1631 before erasing gains on heightened geopolitical tensions. Pair was last at 1.1520 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note. Escalation in geopolitical tensions may weighed on EUR"Daily momentum is mild bullish while RSI fell from near overbought conditions. Resistance at 1.1630 levels. Support at 1.15, 1.1380 (21 DMA) and 1.1320 (50 DMA). Escalation in geopolitical tensions may weighed on EUR for now but the broader picture of a more constructive outlook remains unchanged." "German/European defence spending plans can lend a boost to growth. Prospects of ECB cut cycle nearing its end while there is room for Fed to resume easing cycle. China’s economic growth showing tentative signs of stabilisation (stable to stronger RMB can see positive spillover to EUR). Signs of portfolio flows and reserve diversification that may favour alternative reserve currencies such as the EUR are some of the medium term factors underpinning the appeal of EUR."

12:49 EUR/USD has further upside potential – Commerzbank
On Thursday afternoon, the US President once again criticised one of his favourite targets, the Chairman of the Federal Reserve, Jerome Powell.

On Thursday afternoon, the US President once again criticised one of his favourite targets, the Chairman of the Federal Reserve, Jerome Powell. Having criticised the Fed chief at every opportunity in recent weeks, and having most recently called for a 100-basis-point interest rate cut, Trump went one step further yesterday. He demanded an initial interest rate cut of 200 basis points to reduce the US government's refinancing costs, labelled Powell a 'numbskull', and threatened to 'force' interest rate cuts if necessary. His simultaneous assertion that he would not dismiss Powell — despite stating that he did not see the problem with doing so — was hardly convincing, Commerzbank's FX analyst Michael Pfister notes. EUR/USD to trade at 1.16 by the end of 2025"Essentially, he has provided further justification for our recent change to the forecast. When we last adjusted our EUR/USD forecast in April, we assumed that the EUR-USD exchange rate would trend higher over the next year and a half, following a brief period of USD strength. This was due to the uncertainty surrounding US trade policy and the growing likelihood that the US dollar would be the weak link in the US administration's efforts to achieve a balanced current account deficit. We were essentially correct in this view, but the market had simply anticipated the move in view of the increasingly erratic trade policy.""However, despite the upward movement that has already taken place, we think that the reasons for higher EUR/USD levels remain valid. Even after reaching agreements with other countries, Donald Trump has repeatedly threatened to impose new tariffs shortly afterward. While it is unlikely that Trump will dismiss Fed Chairman Jerome Powell before the end of his term, he may nominate a Fed chairman more in line with his views next year. The prospect of a turnaround in monetary policy, including significant interest rate cuts, combined with erratic trade policy and general uncertainty surrounding US investments makes us think that the US dollar will face tougher times in the coming months.""Conversely, our economists expect the German fiscal package to provide a significant boost in the coming year. After many years of struggling, this should encourage investors to take a closer look at the euro area again, which should benefit the euro. Taking these factors into account, we have revised our EUR/USD forecast higher, now expecting a level of 1.16 by the end of 2025 and 1.20 by the end of 2026."

12:47 USD/CAD remains capped below 1.3660 lows as higher crude prices support the Loonie
The US Dollar rallied on early trade on Friday, boosted by the risk-averse reaction to Israel’s attack on Iran, but was capped at 1.3660 before returning to levels close to 1.3600 as the escalating Oil prices have pushed the Canadian Dollar higher.Crude prices have surged on concerns that escalating

12:36 EUR: Not liking the oil rally – ING
The Euro (EUR) generally dislikes geopolitical shocks leading to higher energy prices, and has therefore detached from JPY and CHF in early price action after the Israeli strike on Iran.

The Euro (EUR) generally dislikes geopolitical shocks leading to higher energy prices, and has therefore detached from JPY and CHF in early price action after the Israeli strike on Iran. This is a trigger for an unwinding of stretched longs on EUR/USD, which, according to our model, briefly reached a 2-standard-deviation overvaluation relative to short-term drivers yesterday, ING's FX analyst Francesco Pesole notes.Return to 1.14-1.15 seems entirely appropriate"That is just above the 5% misvaluation, which we have assessed as the peak, where further rallies would need to be justified either by a substantial shift in rate differentials (higher EUR short-term rates or lower USD short-term rates) or another material deterioration in the US debt market. That overvaluation sits at 4% after this morning’s correction.""From a European Central Bank perspective, oil market volatility likely endorses its cautious tone on further easing, and potentially pushes the chances of the last 25bp cut of the cycle more to 4Q rather than 3Q – mirroring the current market preference.""Anyway, we’ll likely need to wait for next week’s ECB speakers to get a better sense of what this all means for monetary policy. And given the fast-moving geopolitical situation, it is definitely too early to draw conclusions just yet. EUR/USD will likely follow that situation closely and primarily via the oil price channel. But we think the starting point was already quite rich for the pair, and a return to the 1.14-1.15 seems entirely appropriate."

12:33 Full-scale war in the Middle East moves another step closer – Commerzbank
The conflict in the Middle East became more explosive overnight: after the US withdrew embassy staff from Iraq, and amid reports that Israel could attack Iran, military strikes were carried out last night, Commerzbank's FX analyst Michael Pfister notes.

The conflict in the Middle East became more explosive overnight: after the US withdrew embassy staff from Iraq, and amid reports that Israel could attack Iran, military strikes were carried out last night, Commerzbank's FX analyst Michael Pfister notes. A full-scale war looms in the Middle East"According to initial media reports, the head of the Iranian Revolutionary Guard and several nuclear scientists were killed. The Israeli president emphasised that the attacks would continue until 'the threat is removed', while Iran has, of course, announced a sharp response. The price of oil rose by up to 13%, while currencies considered safe havens, such as the Swiss franc and the Japanese yen, gained ground.""It is impossible to say how the situation will develop in the coming days. Either way, this is a significant escalation which brings us closer to full-scale war in the Middle East. Statements by officials also suggest that the attacks may not be over yet." "Iran risks losing credibility if it does not defend itself against such attacks, while Israel may now feel encouraged to continue after crossing the threshold. Until the danger of further escalation has passed, safe assets are likely to remain in demand."

12:30 Silver price today: Silver broadly unchanged, according to FXStreet data
Silver prices (XAG/USD) broadly unchanged on Friday, according to FXStreet data.

12:03 Silver Price Forecast: XAG/USD flat lines below mid-$36.00s; bullish potential seems intact
Silver (XAG/USD) struggled to capitalize on the previous day's recovery from the $35.45 area, or the weekly low and witnessed a good two-way price move through the first half of the European session.

12:01 Eurozone Trade Balance s.a. fell from previous €27.9B to €14B in April
Eurozone Trade Balance s.a. fell from previous €27.9B to €14B in April

12:00 Eurozone Trade Balance n.s.a. below expectations (€18.2B) in April: Actual (€9.9B)
Eurozone Trade Balance n.s.a. below expectations (€18.2B) in April: Actual (€9.9B)

12:00 Eurozone Industrial Production w.d.a. (YoY) below expectations (1.4%) in April: Actual (0.8%)
Eurozone Industrial Production w.d.a. (YoY) below expectations (1.4%) in April: Actual (0.8%)

12:00 Eurozone Industrial Production s.a. (MoM) below forecasts (-1.7%) in April: Actual (-2.4%)
Eurozone Industrial Production s.a. (MoM) below forecasts (-1.7%) in April: Actual (-2.4%)

11:39 AUD/USD bounces up but remains below 0.6500 on risk-off markets
The Australian Dollar is trimming some losses following a sharp decline earlier today as news that Israel bombed Iranian nuclear and military sites triggered a rush for safety, sending risk-sensitive assets, like the AUD, tumbling.The AUD/USD depreciated nearly 1% during Friday’s early trading to hi

11:32 United Kingdom Consumer Inflation Expectations fell from previous 3.4% to 3.2%
United Kingdom Consumer Inflation Expectations fell from previous 3.4% to 3.2%

11:03 Japan’s Trade Negotiator Akazawa: Hopes for a deal with US to spare from higher auto tariffs
Bloomberg reported Japan's top trade negotiator Ryosei Akazawa saying on Friday that “generally speaking, if we reach a deal it should secure special treatment for Japan, and exclude it from rules that apply to most countries,” when asked about US President Donald Trump’s comments that indicated he’

11:01 Italy Trade Balance EU: €0.162B (April) vs €-2.453B
Italy Trade Balance EU: €0.162B (April) vs €-2.453B

11:01 Italy Global Trade Balance came in at €2.482B below forecasts (€2.75B) in April
Italy Global Trade Balance came in at €2.482B below forecasts (€2.75B) in April

10:59 NZD/USD plunges to near 0.6000 as Middle East tensions hit risk-perceived assets
The NZD/USD pair is down almost 0.1% to near the psychological support of 0.6000 on Friday. The kiwi pair faces a sharp sell-off as antipodean currencies underperform amid escalating tensions between Israel and Iran.

.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a} .fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}NZD/USD plummets to near 0.6000 as tensions in the Middle East have battered demand for risk-sensitive assets.The RBNZ is expected to reduce its OCR in the next month’s monetary policy meeting.The US Dollar bounces back strongly as the Israel-Iran conflict boosts safe-haven demand.The NZD/USD pair is down almost 0.1% to near the psychological support of 0.6000 on Friday. The kiwi pair faces a sharp sell-off as antipodean currencies underperform amid escalating tensions between Israel and Iran. New Zealand Dollar PRICE Today The table below shows the percentage change of New Zealand Dollar (NZD) against listed major currencies today. New Zealand Dollar was the weakest against the US Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD 0.42% 0.34% 0.22% 0.13% 0.79% 0.94% 0.20% EUR -0.42% -0.03% -0.15% -0.23% 0.45% 0.49% -0.23% GBP -0.34% 0.03% -0.18% -0.27% 0.40% 0.51% -0.18% JPY -0.22% 0.15% 0.18% -0.07% 0.58% 0.71% -0.03% CAD -0.13% 0.23% 0.27% 0.07% 0.64% 0.83% 0.09% AUD -0.79% -0.45% -0.40% -0.58% -0.64% 0.13% -0.58% NZD -0.94% -0.49% -0.51% -0.71% -0.83% -0.13% -0.71% CHF -0.20% 0.23% 0.18% 0.03% -0.09% 0.58% 0.71% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the New Zealand Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent NZD (base)/USD (quote). Early Friday, Israel launched a series of attacks on military and nuclear targets in the northeast region of Tehran, aiming to stop the nation from building nuclear warheads. Israeli Prime Minister (PM) Benjamin Netanyahu stated that their military forces launched Operation Rising Lion to “roll back the Iranian threat to Israel’s very survival”.On the domestic front, the New Zealand Dollar (NZD) weakens amid firm expectations that the Reserve Bank of New Zealand (RBNZ) will cut interest rates again in the policy meeting in July. Till now, the RBNZ has slashed its Official Cash Rate (OCR) by 225 basis points (bps) to 2.25% since August 2024, when it started its monetary-expansion cycle.Meanwhile, Middle East tensions have increased safe-haven demand for the US Dollar (USD), which has been battered significantly this week due to uncertainty over the United States' (US) tariff policy. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, bounces back to near 98.30 from the fresh three-year low of 97.60 posted on Thursday.On Wednesday, US President Donald Trump said that he is prepared to send letters stating the final trade agreement and tariff rates to those trading partners from whom Washington has not received any proposal or those who are not negotiating in good faith. US Dollar FAQs What is the US Dollar? The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away. How do the decisions of the Federal Reserve impact the US Dollar? The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback. What is Quantitative Easing and how does it influence the US Dollar? In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar. What is Quantitative Tightening and how does it influence the US Dollar? Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.

10:59 EUR/GBP extends upside above 0.8500 as weaker UK data boosts BoE rate cut bets
The EUR/GBP cross trades in positive territory for the fifth consecutive day near 0.8525 during the early European session on Friday. A slew of weaker-than-expected UK economic data continues to undermine the Pound Sterling (GBP) against the Euro (EUR).

10:58 USD/CHF returns above 0.8100 with the US Dollar buoyed by geopolitical tensions
The US Dollar is trimming losses after a sharp decline on Thursday.

10:43 Iran confirms top military deaths, accuses Israel of crossing all red lines
Israel has launched strikes across Iran, targeting the "heart" of Iran's nuclear program.

10:43 GBP/JPY holds losses around 195.00 due to risk-off sentiment
GBP/JPY extends its losses for the second successive session, trading around 195.00 during the European hours on Friday. The currency cross depreciates as the Pound Sterling (GBP) faces challenges amid risk aversion, driven by the escalating geopolitical tensions in the Middle East.

10:40 Forex Today: Gold surges higher as tensions in Middle East escalate
Here is what you need to know on Friday, June 13:

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In the second half of the day, the US economic calendar will feature the University of Michigan's Consumer Sentiment Index for June. US Dollar PRICE Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the New Zealand Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD 0.25% 0.29% 0.16% 0.12% 0.71% 0.85% 0.06% EUR -0.25% 0.08% -0.02% -0.07% 0.55% 0.57% -0.20% GBP -0.29% -0.08% -0.18% -0.23% 0.39% 0.48% -0.26% JPY -0.16% 0.02% 0.18% -0.02% 0.55% 0.67% -0.11% CAD -0.12% 0.07% 0.23% 0.02% 0.57% 0.76% -0.03% AUD -0.71% -0.55% -0.39% -0.55% -0.57% 0.11% -0.64% NZD -0.85% -0.57% -0.48% -0.67% -0.76% -0.11% -0.75% CHF -0.06% 0.20% 0.26% 0.11% 0.03% 0.64% 0.75% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote). Israel's Prime Minister Benjamin Netanyahu announced early Friday that they have launched "Operation Rising Lion" to damage Iran's nuclear infrastructure, ballistic missile factories and its military capabilities. Netanyahu also noted that the operation will continue for as many days as it takes. Iran's Armed Forces General staff responded on Friday, warning that Israel and the US will "pay a very heavy price." The latest news surrounding the conflict suggests that Israel has intercepted drones launched by Iran in Jordanian and Syrian airspaces. United States (US) President Donald Trump will convene a meeting of the National Security Council later in the day to discuss the Israel-Iran conflict. White House Secretary of State Marco Rubio released a statement following the initial attack, warning that Iran should not target US interest or personnel in retaliation. Gold benefits from the risk-averse market atmosphere and trades above $3,400 early Friday, rising about 1% on the day.Crude oil prices also shot higher with the immediate reaction to this development. After rising to its highest level since January above $74, the barrel of West Texas Intermediate (WTI) corrected lower and was last seen trading near $70, still rising about 4% on the day.The US Dollar (USD) Index gains traction and trades in positive territory above 98.00 after losing nearly 0.8% on Thursday. EUR/USD advanced to its highest level since November 2021 above 1.1600 on Thursday. The pair stays on the back foot early Friday and trades near 1.1550. The European economic calendar will offer Industrial Production and Trade Balance data for April later in the session. Several policymakers from the European Central Bank are scheduled to deliver speeches as well.GBP/USD turns south in the European morning on Friday and declines toward 1.3550. Still, the pair remains on track to end the week modestly higher. USD/JPY stages a rebound and trades marginally higher on the day near 143.70 after slumping below 143.00 in the early Asian session on Friday. Risk sentiment FAQs What do the terms"risk-on" and "risk-off" mean when referring to sentiment in financial markets? In the world of financial jargon the two widely used terms “risk-on” and “risk off'' refer to the level of risk that investors are willing to stomach during the period referenced. In a “risk-on” market, investors are optimistic about the future and more willing to buy risky assets. In a “risk-off” market investors start to ‘play it safe’ because they are worried about the future, and therefore buy less risky assets that are more certain of bringing a return, even if it is relatively modest. What are the key assets to track to understand risk sentiment dynamics? Typically, during periods of “risk-on”, stock markets will rise, most commodities – except Gold – will also gain in value, since they benefit from a positive growth outlook. The currencies of nations that are heavy commodity exporters strengthen because of increased demand, and Cryptocurrencies rise. In a “risk-off” market, Bonds go up – especially major government Bonds – Gold shines, and safe-haven currencies such as the Japanese Yen, Swiss Franc and US Dollar all benefit. Which currencies strengthen when sentiment is "risk-on"? The Australian Dollar (AUD), the Canadian Dollar (CAD), the New Zealand Dollar (NZD) and minor FX like the Ruble (RUB) and the South African Rand (ZAR), all tend to rise in markets that are “risk-on”. This is because the economies of these currencies are heavily reliant on commodity exports for growth, and commodities tend to rise in price during risk-on periods. This is because investors foresee greater demand for raw materials in the future due to heightened economic activity. Which currencies strengthen when sentiment is "risk-off"? The major currencies that tend to rise during periods of “risk-off” are the US Dollar (USD), the Japanese Yen (JPY) and the Swiss Franc (CHF). The US Dollar, because it is the world’s reserve currency, and because in times of crisis investors buy US government debt, which is seen as safe because the largest economy in the world is unlikely to default. The Yen, from increased demand for Japanese government bonds, because a high proportion are held by domestic investors who are unlikely to dump them – even in a crisis. The Swiss Franc, because strict Swiss banking laws offer investors enhanced capital protection.

10:40 EUR/USD retreats on risk aversion after Israel’s attack on Iran
The EUR/USD pair snaps a four-day rally on Friday, retreating from nearly four-year highs above 1.1600 to the lower range of the 1.1500s.

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Tensions in the Middle East are escalating after Israel struck Iran’s nuclear plants and killed several high-ranking Revolutionary Guard military officers. Iran vowed retaliation, and Tel Aviv affirmed that the attack would last several days, which threatens to ignite an already highly volatile region.

These events have provided significant support to the US Dollar, which, hitherto, was depressed at multi-year lows after US inflation figures boosted hopes that the Federal Reserve (Fed) will cut interest rates in September.

The US Producer Prices Index (PPI) data released on Thursday revealed slower-than-expected price pressures at the factory gate in May. These figures follow another moderate Consumer Price Index (CPI) increase seen earlier this week, and have eased fears of the inflationary impact of tariffs, at least for now.

In the Eurozone, final German CPI figures released on Friday revealed that inflation remained close to levels near the ECB’s 2% target. French inflation was confirmed at a subdued 0.6%, while Spanish price growth was slightly revised upwards to 2%.

Later today, the Eurozone Industrial production will be released, although the impact of the data is likely to be subdued with geopolitical tensions driving markets. Euro PRICE Today The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the New Zealand Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD 0.25% 0.29% 0.16% 0.12% 0.71% 0.85% 0.06% EUR -0.25% 0.08% -0.02% -0.07% 0.55% 0.57% -0.20% GBP -0.29% -0.08% -0.18% -0.23% 0.39% 0.48% -0.26% JPY -0.16% 0.02% 0.18% -0.02% 0.55% 0.67% -0.11% CAD -0.12% 0.07% 0.23% 0.02% 0.57% 0.74% -0.03% AUD -0.71% -0.55% -0.39% -0.55% -0.57% 0.11% -0.66% NZD -0.85% -0.57% -0.48% -0.67% -0.74% -0.11% -0.75% CHF -0.06% 0.20% 0.26% 0.11% 0.03% 0.66% 0.75% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote). Daily digest market movers: Geopolitical tensions bring some life to the US DollarIsrael’s pounding on Tehran has given a fresh boost to the US Dollar, sending the Euro 0.7% below the multi-year highs hit on Thursday. The common currency, however, remains on track for a 1.3% weekly rally. The Greenback had tumbled through the week, weighed by the lack of details of the US-China trade deal and soft inflation data.
Thursday’s data revealed that US PPI grew at a 0.1% monthly rate in May, below the market consensus of a 0.2% advance, and by 2.6% year-on-year, as expected. The core PPI posted another 0.1% monthly increase, well below the 0.3% expected, and 3% year-on-year. The market consensus anticipated a 3.1% reading from April’s 3.2%.
US Consumer Prices in May moderated to a 0.1% increase from the previous month and 2.4% from the same month last year, below the market consensus of 0.2% and 2.5% increases, respectively.
With the Federal Reserve in a blackout period ahead of next week’s meeting, these figures have heightened hopes of a rate cut in September. The CME Group’s Fed Watch tool is showing a 60% chance of a 25 basis points cut after the summer, up from nearly 50% last week.
In Europe, European Central Bank officials keep endorsing ECB President Christine Lagarde’s hawkish stance, highlighting a monetary divergence with the US central bank that has been supporting the Euro.
On Thursday, ECB member Isabel Schnabel observed that the Eurozone's growth outlook is "broadly stable" with inflation stabilizing at the 2% target before stating that the view that the bank's monetary cycle is coming to an end.
German final CPI figures justified those arguments on Friday. Consumer inflation grew at a 0.1% pace in May and 2.1% year-on-year, in line with the expectations and at the same pace seen in April.Technical analysis: EUR/USD on bearish correction with support at 1.1500 EUR/USD has been rejected at the 1.1600 area and is correcting lower. The broader trend, however, remains positive, with the pair posting higher highs and higher lows, and with the 4-hour RSI still at levels above 50, which reflects a mild bullish momentum.

The pair is likely to find support between the June 5 high, at 1.1495, and the 1.1500 psychological level if the dust from the Israel-Iran conflict settles. Below here, the next support is 1.1460, which broadly aligns with the highs from June 2 and 10. Further decline beyond this level would put the bullish trend into question.

On the upside, resistances are at 1.1612 (intra-day high) and then probably at 1.1685, the 361.8% Fibonacci extension of early June’s trading range. Risk sentiment FAQs What do the terms"risk-on" and "risk-off" mean when referring to sentiment in financial markets? In the world of financial jargon the two widely used terms “risk-on” and “risk off'' refer to the level of risk that investors are willing to stomach during the period referenced. In a “risk-on” market, investors are optimistic about the future and more willing to buy risky assets. In a “risk-off” market investors start to ‘play it safe’ because they are worried about the future, and therefore buy less risky assets that are more certain of bringing a return, even if it is relatively modest. What are the key assets to track to understand risk sentiment dynamics? Typically, during periods of “risk-on”, stock markets will rise, most commodities – except Gold – will also gain in value, since they benefit from a positive growth outlook. The currencies of nations that are heavy commodity exporters strengthen because of increased demand, and Cryptocurrencies rise. In a “risk-off” market, Bonds go up – especially major government Bonds – Gold shines, and safe-haven currencies such as the Japanese Yen, Swiss Franc and US Dollar all benefit. Which currencies strengthen when sentiment is "risk-on"? The Australian Dollar (AUD), the Canadian Dollar (CAD), the New Zealand Dollar (NZD) and minor FX like the Ruble (RUB) and the South African Rand (ZAR), all tend to rise in markets that are “risk-on”. This is because the economies of these currencies are heavily reliant on commodity exports for growth, and commodities tend to rise in price during risk-on periods. This is because investors foresee greater demand for raw materials in the future due to heightened economic activity. Which currencies strengthen when sentiment is "risk-off"? The major currencies that tend to rise during periods of “risk-off” are the US Dollar (USD), the Japanese Yen (JPY) and the Swiss Franc (CHF). The US Dollar, because it is the world’s reserve currency, and because in times of crisis investors buy US government debt, which is seen as safe because the largest economy in the world is unlikely to default. The Yen, from increased demand for Japanese government bonds, because a high proportion are held by domestic investors who are unlikely to dump them – even in a crisis. The Swiss Franc, because strict Swiss banking laws offer investors enhanced capital protection.

10:38 Pound Sterling slumps as Middle East tensions diminish appeal for risky assets
The Pound Sterling (GBP) underperforms against its major peers on Friday, except for antipodean currencies, as market sentiment turns risk-averse amid escalating geopolitical tensions in the Middle East.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The Pound Sterling falls sharply against its major peers as Israel’s attack on Iran dampened demand for risky assets.Both the Fed and the BoE are expected to maintain interest rates steady next week.Investors expect the BoE to reassess its “gradual and cautious” monetary expansion guidance due to recent weak economic data.The Pound Sterling (GBP) underperforms against its major peers on Friday, except for antipodean currencies, as market sentiment turns risk-averse amid escalating geopolitical tensions in the Middle East. Israel has announced a war against Iran after striking dozens of targets in the northeast region of Tehran, including nuclear facilities and military bases. Israeli Prime Minister Benjamin Netanyahu has clarified that their military has started the “Operation Rising Lion” to stop Iran from building nuclear warheads, citing that the operation aims to “roll back the Iranian threat to Israel’s very survival”.US President Donald Trump also said earlier in the day that Iran “cannot have a nuclear bomb”, partly endorsing Israel’s attackEscalating tensions between Tel Aviv and Tehran have led investors to turn to safe-haven assets such as the US Dollar (USD). The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, is up 0.45% to near 98.30, recovering sharply from the three-year low of 97.60 posted on Thursday.Apart from geopolitical headlines, the next triggers for the GBP/USD pair will be the monetary policy announcements by both the Federal Reserve (Fed) and the Bank of England (BoE) next week. Both central banks are expected to hold interest rates steady.Daily digest market movers: Pound Sterling weakens as Middle East attacks weighThe Pound Sterling slumps to near 1.3530 against the US Dollar during European trading hours on Friday. The GBP/USD pair faces sharp selling pressure as investors turn risk-averse amid escalating Middle East tensions.Earlier in the day, the US clarified that they have no involvement in the Israel-Iran conflict and assured that Washington would seek talks with Tehran to end tensions peacefully. However, Tehran has refused to join the US at the table. Senior Iranian lawmaker Boroujerdi said that the sixth round of talks with the US “will not be held following the Israeli attacks”, according to Iran International.Next week, the US Dollar’s valuation will be influenced by the outcome of the Fed’s policy meeting on Wednesday. According to the CME FedWatch tool, the Fed is expected to leave interest rates steady in the current range of 4.25%-4.50%.Traders are increasingly confident that the Fed will avoid any monetary policy adjustments as policymakers have guided that interest rates should remain at their current levels until they get clarity about how the new economic policies announced by US President Trump will impact inflation and the economic outlook.Investors will closely monitor the Fed’s dot plot, which shows where officials expect interest rates to head in the near and longer term. The CME FedWatch tool shows that the Fed will reduce interest rates in the September meeting. Traders are currently expecting the Federal Reserve to cut rates by 55 basis points by the year-end, which means around two 25-basis-point cuts, Reuters reported.In the United Kingdom (UK), the BoE is also anticipated to leave interest rates unchanged at 4.25% on Thursday. However, market participants expect the central bank to reassess its “gradual and careful” policy easing guidance amid slowing labor demand and an economic contraction in the monthly Gross Domestic Product data for April.This week, the Office for National Statistics (ONS) reported that the Unemployment Rate rose to 4.6% in the three months ending April, the highest level seen since July 2021, and employers added fewer jobs in the same period. Cracks emerged in the labor market after employers’ contribution to the National Insurance (NI) increased to 15% from 13.8% in April.Meanwhile, the UK economy declined at a faster-than-projected pace of 0.3% in April, and the factory data contracted sharply.Ahead of the BoE’s monetary policy announcement, investors will focus on the UK Consumer Price Index (CPI) data for May, which is scheduled to be released on Wednesday.Technical Analysis: Pound Sterling stays above 20-day EMAThe Pound Sterling falls sharply to near 1.3530 against the US Dollar after facing selling pressure near the three-year high around 1.3630. Despite the pullback, the near-term trend of the GBP/USD pair remains bullish as the 20-day Exponential Moving Average (EMA) slopes higher around 1.3490.The 14-day Relative Strength Index (RSI) falls below 60.00 and points downwards, signaling a quick loss of bullish momentum. Still, this could resume if the RSI is able to retake the 60 level.On the upside, the January 13, 2022, high of 1.3750 will be a key hurdle for the pair. Looking down, the horizontal line plotted from the September 26 high of 1.3434 will act as a key support zone. Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE). How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates. When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects. How does economic data influence the value of the Pound? Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP. A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall. How does the Trade Balance impact the Pound? Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

10:00 Spain Consumer Price Index (MoM) registered at 0.1% above expectations (0%) in May
Spain Consumer Price Index (MoM) registered at 0.1% above expectations (0%) in May

10:00 WTI trades around $74.50 after paring gains, downside seems limited due to supply concerns
West Texas Intermediate (WTI) Oil price pared its daily gains after reaching a five-month high of $74.40, currently trading around $71.80 per barrel during European hours on Friday. Crude Oil prices surged due to rising concerns regarding supply disruptions.

10:00 Spain Consumer Price Index (YoY) registered at 2% above expectations (1.9%) in May
Spain Consumer Price Index (YoY) registered at 2% above expectations (1.9%) in May

10:00 Spain Harmonized Index of Consumer Prices (MoM) registered at 0% above expectations (-0.1%) in May
Spain Harmonized Index of Consumer Prices (MoM) registered at 0% above expectations (-0.1%) in May

10:00 Spain Harmonized Index of Consumer Prices (YoY) above forecasts (1.9%) in May: Actual (2%)
Spain Harmonized Index of Consumer Prices (YoY) above forecasts (1.9%) in May: Actual (2%)

09:53 US Dollar Index Price Forecast: Outlook remains bearish below 98.50
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, rebounds to near 98.25, snapping the two-day losing streak during the early European session on Friday.

09:52 Israel begins intercepting drones launched from Iran outside borders
A military official said on Friday that Israeli Air Force fighter jets have started to shoot down the drones launched at Israel from Iran earlier this morning, per the Time of Israel. Drones are being caught outside of Israel’s borders.

09:45 France Consumer Price Index (EU norm) (MoM) meets forecasts (-0.2%) in May
France Consumer Price Index (EU norm) (MoM) meets forecasts (-0.2%) in May

09:45 France Consumer Price Index (EU norm) (YoY) in line with expectations (0.6%) in May
France Consumer Price Index (EU norm) (YoY) in line with expectations (0.6%) in May

09:45 France Inflation ex-tobacco (MoM) dipped from previous 0.6% to -0.1% in May
France Inflation ex-tobacco (MoM) dipped from previous 0.6% to -0.1% in May

09:14 Iran pulls out of nuclear talks with the US planned for Sunday
Iran International reports on Friday that the sixth round of talks with the United States (US) will not be held following the Israeli attacks, citing senior Iranian lawmaker Aladdin Boroujerdi, a member of parliament’s National Security and Foreign Policy Commission.

09:04 USD/CNH Price Analysis: Remains above 7.3500 near two-year highs
The USD/CNH pair recovers its recent losses registered in the previous session, trading around 7.1860 during the Asian hours on Friday. An analysis of the daily chart indicates that the pair price testing to break above the descending channel pattern, which points to a weakening bearish trend.

09:03 Crude oil price today: WTI price bullish at European opening
West Texas Intermediate (WTI) Oil price advances on Friday, early in the European session. WTI trades at $71.51 per barrel, up from Thursday’s close at $67.58.Brent Oil Exchange Rate (Brent crude) is also up, advancing from the $69.71 price posted on Thursday, and trading at $73.48.

09:00 Germany Consumer Price Index (MoM) in line with expectations (0.1%) in May
Germany Consumer Price Index (MoM) in line with expectations (0.1%) in May

09:00 Germany Harmonized Index of Consumer Prices (YoY) meets expectations (2.1%) in May
Germany Harmonized Index of Consumer Prices (YoY) meets expectations (2.1%) in May

09:00 Germany Harmonized Index of Consumer Prices (MoM) meets forecasts (0.2%) in May
Germany Harmonized Index of Consumer Prices (MoM) meets forecasts (0.2%) in May

09:00 Germany Consumer Price Index (YoY) in line with expectations (2.1%) in May
Germany Consumer Price Index (YoY) in line with expectations (2.1%) in May

08:31 FX option expiries for Jun 13 NY cut
FX option expiries for Jun 13 NY cut at 10:00 Eastern Time vi a DTCC can be found below.

FX option expiries for Jun 13 NY cut at 10:00 Eastern Time vi a DTCC can be found below.EUR/USD: EUR amounts1.1400 2.1b1.1485 876m1.1500 1.6b1.1670 711mUSD/JPY: USD amounts 141.00 1.2b144.00 1.6b145.00 805m0.8400 450mAUD/USD: AUD amounts0.6375 420m0.6500 450mUSD/CAD: USD amounts 1.3600 668mEUR/GBP: EUR amounts 0.8475 1.1b

08:29 USD/MXN jumps above 19.00 on geopolitical risks
The USD/MXN pair gathers strength to around 19.05, snapping the two-day losing streak during the early European session on Friday. The risk-off sentiment amid escalating Israel-Iran tensions exerts some selling pressure on the Mexican Peso (MXN) against the Greenback.

08:15 IAEA says there is no increase in radiation levels observed at Iran's Natanz facility
The International Atomic Energy Agency (IAEA) stated on Friday that the Natanz nuclear facility was confirmed to have been hit many times and is reported to be "completely destroyed" here.

08:12 EUR/JPY finds cushion near 165.00 while safe-haven demand of Yen remains firm
The EUR/JPY pair finds temporary support near 165.00 during late Asian hours on Friday after a sharp sell-off earlier in the day. The pair slumped as tensions in the Middle East region increased demand for safe-haven assets such as Japanese yen (JPY).

08:06 Silver Price Forecast: XAG/USD trades near $36.00 support, ascending channel’s lower boundary
Silver price (XAG/USD) retraces its recent gains registered in the previous session, trading around $36.30 per troy ounce during the Asian hours on Friday.

07:56 USD/CAD climbs to mid-1.3600s as safe-haven buying benefits USD and offsets surging Oil prices
The USD/CAD pair stages a modest recovery from sub-1.3600 levels, or its lowest level since October 2024 touched during the Asian session on Friday and reverses a major part of the previous day's losses.

07:41 USD/INR soars on US Dollar’s recovery, rallying Oil and FII outflows
The Indian Rupee (INR) tumbles at open to near 86.25 against the US Dollar (USD) on Friday. USD/INR surges as the US Dollar attracts substantial bids on Friday, tensions in the Middle East have increased its safe-haven demand.

07:38 GBP/USD tumbles below 1.3550 amid risk-off sentiment
The GBP/USD pair loses ground to near 1.3530 during the early European session on Friday. The Pound Sterling (GBP) weakens against US Dollar (USD) due to heightened geopolitical tensions in the Middle East.

07:35 India Gold price today: Gold rises, according to FXStreet data
Gold prices rose in India on Friday, according to data compiled by FXStreet.

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The price for Gold stood at 9,480.17 Indian Rupees (INR) per gram, up compared with the INR 9,366.50 it cost on Thursday. The price for Gold increased to INR 110,593.10 per tola from INR 109,249.10 per tola a day earlier. FXStreet calculates Unit measure Gold Price in INR 1 Gram 9,480.17 10 Grams 94,818.31 Tola 110,593.10 Troy Ounce 294,868.70 2025 Gold Forecast Guide [PDF] Download your free copy of the 2025 Gold Forecast Daily digest market movers: Gold price surges as the Greenback and US yields tumble The Greenback plunges to three-year lows, according to the US Dollar Index (DXY). The DXY, which tracks the value of the Dollar against a basket of peers, fell 0.60% to 97.99 after hitting a multi-year low of 97.60. US Treasury yields are falling as the US 10-year Treasury yield has dropped five basis points (bps) to 4.367%. US real yields followed suit, losing five basis points to 2.097%, boosting Bullion’s advance. US Producer Price Index (PPI) in May rose 2.6% YoY, a tenth above April’s reading of 2.5%. Core PPI – which excludes volatile items like food and energy – dipped from 3.1% to 3% YoY. Every month, the PPI was mainly muted, rising 0.1% MoM below the 0.2% expected by the consensus. Excluding food and energy, PPI rose 0.1%, down from 0.3%. Geopolitical tensions remain high as acknowledged by US President Trump, who said that Israel could strike Iran in the coming days. Sources cited by The Washington Post noted that US intelligence officials are increasingly concerned about Israel striking Iran without Washington's approval. Money markets suggest that traders are pricing in 51 basis points of easing toward the end of the year, according to Prime Market Terminal data. FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly. Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up. (An automation tool was used in creating this post.)

07:35 Gold price sits near its highest level since April 22 amid fears of wider Middle East war
Gold price (XAU/USD) continues scaling higher for the third consecutive day on Friday, rising to the $3,444 area, or its highest level since April 22 during the Asian session amid the global flight to safety.

07:32 Japan Capacity Utilization rose from previous -2.4% to 1.3% in April
Japan Capacity Utilization rose from previous -2.4% to 1.3% in April

07:31 Japan Tertiary Industry Index (MoM) came in at 0.3%, above forecasts (0.2%) in April
Japan Tertiary Industry Index (MoM) came in at 0.3%, above forecasts (0.2%) in April

07:31 Japan Industrial Production (YoY) declined to 0.5% in April from previous 0.7%
Japan Industrial Production (YoY) declined to 0.5% in April from previous 0.7%

07:30 Japan Industrial Production (MoM) registered at -1.1%, below expectations (-0.9%) in April
Japan Industrial Production (MoM) registered at -1.1%, below expectations (-0.9%) in April

07:18 US President Donald Trump says Iran can not have a nuclear bomb
US President Donald Trump said on Friday that Iran cannot have a nuclear bomb while reiterating his hopes for a peaceful end to the tensions. US officials said that they still intend to have talks between US and Iran envoys on Sunday.

06:21 EUR/USD breaks below 1.1550 due to risk-off sentiment
EUR/USD halts its four-day winning streak, pulling back from 1.1631, the highest since October 2021, and currently trading around 1.1530 during the Asian hours on Friday.

06:00 Iran Armed Forces: Israel and the US will "pay a very heavy price"
Iran's Armed Forces General staff responded on Friday, warning that Israel and the US will "pay a very heavy price".

05:39 AUD./JPY bounces off two-week low, keeps the red below 93.00 amid the anti-risk flow
The AUD/JPY cross attracts sellers for the third successive day on Friday and plummets to a nearly two-week low, around the 92.30 region during the Asian session.

05:31 USD/CHF trades near 0.8080, drops to two-month lows due to rising safe-haven demand
USD/CHF extends its losing streak for the third successive session, trading around 0.8070 during the Asian hours. The pair has recorded a two-month low of 0.8056 as the Swiss Franc (CHF) receives support from increased safe-haven demand amid escalating tensions in the Middle East.

05:26 Japanese Yen remains on the front foot as Middle East tensions rise
The Japanese Yen (JPY) advances to over a one-week high against its American counterpart during the Asian session on Friday and draws support from a combination of factors.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The Japanese Yen attracts buyers for the third straight day amid the global flight to safety.Rising geopolitical tensions weigh on investors’ sentiment and boost safe-haven assets.The divergent BoJ-Fed policy expectations exert additional pressure on the USD/JPY pair.The Japanese Yen (JPY) advances to over a one-week high against its American counterpart during the Asian session on Friday and draws support from a combination of factors. A further escalation of geopolitical tensions in the Middle East weighs on investors' sentiment and boosts demand for traditional safe-haven assets, including the JPY. Apart from this, the growing acceptance that the Bank of Japan (BoJ) will stick to the path towards monetary-policy normalization turns out to be another factor that contributes to the JPY's relative outperformance. However, a modest US Dollar (USD) bounce from its lowest level since March 2022 assists the USD/JPY pair pare its heavy intraday losses to the 142.80-142.75 region. Any meaningful USD appreciation, however, seems elusive as signs of cooling inflation and a potential weakening in the labor market lifted bets for an imminent interest rate cut by the Federal Reserve (Fed) in September. This marks a significant divergence from hawkish BoJ expectations, which should continue to benefit the lower-yielding JPY and cap any recovery attempt from the USD/JPY pair. Japanese Yen benefits from a further escalation of tensions in the Middle East and hawkish BoJ expectationsIsrael launched a pre-emptive attack against Iran. The Israeli Air Force conducted dozens of strikes across Iran, targeting nuclear and missile sites as well as military headquarters. Following the attack, Israeli Minister of Defense Israel Katz declared a special state of emergency in the country and warned that a missile and drone attack on Israel and its civilian population would occur soon.US Secretary of State Marco Rubio said in a statement that Israel took unilateral action and that the US is not involved in strikes against Iran. Meanwhile, Iran's Defence Minister Aziz Nasirzadeh had threatened to strike US bases in the region if conflict erupts over its nuclear program. This raises the risk of a broader regional conflict and boosts the safe-haven Japanese Yen. On the trade-related front, US President Donald Trump said on Wednesday that he will set unilateral tariff rates and inform trading partners within two weeks. Moreover, Trump's expanded steel tariffs, currently at 50%, apply to a range of household appliances, including dishwashers, washing machines, refrigerators, and more, adding a layer of uncertainty to the markets. A Reuters poll indicated earlier this week that a slight majority of economists expect that the Bank of Japan will forego another interest rate hike this year. Investors, however, seem convinced that the BoJ might continue to push for tighter monetary conditions and hike rates further as inflation in Japan has consistently exceeded the central bank's 2% target for more than three years. In contrast, traders ramped up bets that the Federal Reserve would resume its rate-cutting cycle in September after data released on Thursday pointed to signs of cooling inflation and a potential weakening in the labor market. The US Bureau of Labour Statistics reported that the Producer Price Index remained muted in May and rose 0.1% from a month earlier, vs. a 0.2% decline in April.In the 12 months through May, the PPI advanced 2.6% after rising 2.5% in April. A separate report showed US Initial Weekly Jobless Claims held steady at 248K last week, while continuing claims jumped to 1.951 million, or the highest level since November 2021. This comes on top of a marginal rise in US consumer prices, backing the case for further monetary policy easing by the Fed. The dovish outlook drags the US Dollar to its lowest level since March 2022 during the Asian session on Friday and weighs heavily on the USD/JPY pair. Traders now look forward to the Preliminary release of the Michigan US Consumer Sentiment Index and Inflation Expectations. The focus, however, will remain on developments surrounding Trump's trade policies and the Middle East conflict.USD/JPY bears might now wait for a break below the 142.65 horizontal support before placing fresh betsFrom a technical perspective, this week's failures to find acceptance above the 145.00 psychological mark and the subsequent fall favor the USD/JPY bears amid negative oscillators on hourly/daily charts. However, it will still be prudent to wait for some follow-through selling below the 142.65 and the 142.35 horizontal support before positioning for deeper losses. Spot prices might then weaken below the 142.00 round figure, towards the 141.65 intermediate support en route to the sub-141.00 levels. On the flip side, recovery beyond the Asian session peak, around the 143.50-143.55 area, is likely to confront a stiff barrier near the 144.00 mark. A sustained strength beyond the latter might trigger a short-covering move and allow the USD/JPY pair to climb to the 144.50 area en route to the 145.00 round figure. The subsequent move-up could lift spot prices to the 145.45 zone, or a two-week high touched on Wednesday. Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors. How do the decisions of the Bank of Japan impact the Japanese Yen? One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen. How does the differential between Japanese and US bond yields impact the Japanese Yen? Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential. How does broader risk sentiment impact the Japanese Yen? The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.

05:24 US President Trump to hold a National Security Council meeting at 15 GMT on Friday
The White House published a statement on Friday, stating that US President Donald Trump will convene a meeting of the National Security Council in the White House situation room later in the day at 15 GMT to discuss the Israel attacks on Iran.

The White House published a statement on Friday, stating that US President Donald Trump will convene a meeting of the National Security Council in the White House situation room later in the day at 15 GMT to discuss the Israel attacks on Iran.Separately, several Iranian media outlets are claiming that Iran will declare a war on Israel and retaliate "soon."

04:51 Australian Dollar falls due to risk-off sentiment amid escalating Israel-Iran tensions
The Australian Dollar (AUD) declines against the US Dollar (USD) on Friday, with over 1% losses. The AUD/USD pair depreciates due to escalating tensions in the Middle East.

.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a} .fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The Australian Dollar declines due to dampened risk sentiment amid rising tensions in the Middle East.Israeli military officials said that Israel attacked dozens of nuclear sites across Iran.The US Producer Price Index rose 0.1% MoM in May, against the expectation of a 0.2% rise.The Australian Dollar (AUD) declines against the US Dollar (USD) on Friday, with over 1% losses. The AUD/USD pair depreciates due to escalating tensions in the Middle East.Israeli Minister of Defense Israel Katz warned his country to face a missile and drone attack following Israel's preemptive attack on Iran. Katz declared a special state of emergency in the country, per Axios. Israeli military officials said that Israel attacked dozens of sites across Iran, as the Iranian nuclear program is an existential threat to Israel.Reuters reported that US President Donald Trump expanded steel tariffs starting June 23 on imported “steel derivative products” including household appliances, including dishwashers, washing machines, refrigerators, etc. The tariffs were initially imposed at 25% in March and later doubled to 50% for most countries. This is the second time the scope of affected products has been expanded.Australian Dollar depreciates as US Dollar advances due to improved safe-haven demandThe US Dollar Index (DXY), which measures the value of the US Dollar against six major currencies, is recovering losses and trading higher at around 98.10 at the time of writing. The US Michigan Consumer Sentiment will be eyed later on Friday.The US Producer Price Index (PPI) climbed 0.1% month-over-month in May, compared to a decline of 0.2% (revised from -0.5%). This reading came in softer than the expectation of a 0.2% rise. Meanwhile, the core PPI, excluding food and energy, increased 0.1% MoM in May versus -0.2% prior (revised from -0.4%), below the consensus of 0.3%.President Trump posted on Truth Social on Wednesday that the trade deal with China is done and added that it is subject to his and Chinese President Xi Jinping's final approval. "We are getting a total of 55% tariffs, China is getting 10%. Relationship is excellent! Thank you for your attention to this matter."China will grant only six-month rare-earth export licenses for US automakers and manufacturers, which suggests that China wants to have control over critical minerals as leverage in future talks, per the Wall Street Journal (gated).The US Consumer Price Index (CPI) rose 2.4% YoY in May, slightly above 2.3% prior but below the market expectations of a 2.5% increase. The core CPI, which excludes volatile food and energy prices, climbed 2.8% YoY in May, compared to the consensus of 2.9%.On Wednesday, President Trump stated that he would like to extend the trade talks deadline, but doesn't think it will be necessary. Trump further stated that he will set unilateral tariff rates within two weeks.The US Court of Appeals for the Federal Circuit extended an earlier, temporary respite on Tuesday for the government as it presses a challenge to a lower court ruling last month that blocked the tariffs. The federal appeals court has ruled that President Trump’s broad tariffs can remain in effect while legal appeals continue, per Bloomberg.China's Trade Balance (CNY) arrived at CNY743.56 billion in May, expanding from the previous surplus of CNY689.99 billion. Meanwhile, Exports rose 6.3% YoY against 9.3% in April. The country’s imports fell 2.1% YoY in the same period, from a 0.8% rise recorded previously.Australia’s Trade Balance posted a 5,413M surplus month-over-month in April, below the 6,100M expected and 6,892M (revised from 6,900M) in the previous reading. Exports declined by 2.4% MoM in April, against a 7.2% rise prior (revised from 7.6%). Meanwhile, Imports rose by 1.1%, compared to a decline of 2.4% (revised from -2.2%) seen in March. China’s Caixin Services PMI rose to 51.1 in May as expected, from 50.7 in April.Australian Dollar falls toward 0.6450 near 50-day EMAAUD/USD pair trading around 0.6460 on Friday. The daily chart’s technical analysis indicates a weakening of the bullish bias as the pair has breached below the lower boundary of the ascending channel. Additionally, the pair moving below the nine-day Exponential Moving Average (EMA) suggests that short-term price momentum is weakening. However, the 14-day Relative Strength Index (RSI) is still positioned slightly above the 50 mark, indicating a bullish bias is in play.On the downside, the AUD/USD pair may further test the 50-day EMA at 0.6423.The immediate barrier appears at the nine-day EMA of 0.6495, followed by the seven-month high of 0.6538, which was reached on June 5. Further advances could prompt the pair to explore the region around the eight-month high at 0.6687, followed by the upper boundary of the ascending channel around 0.6730.AUD/USD: Daily Chart Australian Dollar PRICE Today The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the weakest against the Swiss Franc. USD EUR GBP JPY CAD AUD NZD CHF USD 0.28% 0.29% -0.26% 0.20% 0.79% 0.77% -0.41% EUR -0.28% 0.06% -0.48% -0.01% 0.60% 0.48% -0.69% GBP -0.29% -0.06% -0.58% -0.15% 0.46% 0.40% -0.73% JPY 0.26% 0.48% 0.58% 0.48% 1.05% 1.02% -0.16% CAD -0.20% 0.01% 0.15% -0.48% 0.57% 0.59% -0.58% AUD -0.79% -0.60% -0.46% -1.05% -0.57% -0.04% -1.19% NZD -0.77% -0.48% -0.40% -1.02% -0.59% 0.04% -1.14% CHF 0.41% 0.69% 0.73% 0.16% 0.58% 1.19% 1.14% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote). Australian Dollar FAQs What key factors drive the Australian Dollar? One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – is also a factor, with risk-on positive for AUD. How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia (RBA) influences the Australian Dollar (AUD) by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down. Relatively high interest rates compared to other major central banks support the AUD, and the opposite for relatively low. The RBA can also use quantitative easing and tightening to influence credit conditions, with the former AUD-negative and the latter AUD-positive. How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar (AUD). When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected. Positive or negative surprises in Chinese growth data, therefore, often have a direct impact on the Australian Dollar and its pairs. How does the price of Iron Ore impact the Australian Dollar? Iron Ore is Australia’s largest export, accounting for $118 billion a year according to data from 2021, with China as its primary destination. The price of Iron Ore, therefore, can be a driver of the Australian Dollar. Generally, if the price of Iron Ore rises, AUD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Iron Ore falls. Higher Iron Ore prices also tend to result in a greater likelihood of a positive Trade Balance for Australia, which is also positive of the AUD. How does the Trade Balance impact the Australian Dollar? The Trade Balance, which is the difference between what a country earns from its exports versus what it pays for its imports, is another factor that can influence the value of the Australian Dollar. If Australia produces highly sought after exports, then its currency will gain in value purely from the surplus demand created from foreign buyers seeking to purchase its exports versus what it spends to purchase imports. Therefore, a positive net Trade Balance strengthens the AUD, with the opposite effect if the Trade Balance is negative.

04:49 US Secretary of State Rubio: Iran should not target US interests or personnel
White House Secretary of State Marco Rubio released a statement following Israel’s attack on attack on Iran.

04:44 Breaking: Gold Price Forecast: XAU/USD rises above $3,400 on rising Middle East tensions
The Gold Price (XAU/USD) rises to over five-month highs near $3,425 during the Asian trading hours on Friday. Rising geopolitical tensions in the Middle East and rising bets on Federal Reserve (Fed) rate cuts provide some support to the precious metal.

04:29 WTI climbs above $72.00 on heightened geopolitical tensions in the Middle East
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $72.05 during the Asian trading hours on Friday.

04:15 PBOC sets USD/CNY reference rate at 7.1772 vs. 7.1803 previous
On Friday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1772 as compared to the previous day's fix of 7.1803 and 7.1685 Reuters estimate.

04:11 Israel’s Netanyahu: We targeted Iran’s main enrichment facility in Natanz
Israel's Prime Minister Benjamin Netanyahu said on Friday that Israel struck at the heart of Iran's nuclear enrichment program and nuclear weaponization program. Netanyahu also targeted Iran’s main enrichment facility in Natanz, adding that the operation will continue for as many days as it takes.

03:24 Israel says has launched a pre-emptive attack against Iran
Israeli Minister of Defense Israel Katz declares a special state of emergency in the country throughout the entire state of Israel, per Axios.

03:12 NZD/USD weakens to near 0.6050 on risk-off mood, escalating Middle East geopolitical tensions
The NZD/USD pair trades in negative territory near 0.6065 during the early Asian session on Friday. The New Zealand Dollar (NZD) softens against the US Dollar (USD) as losses in equity markets dampened risk sentiment.

02:21 US President Donald Trump expands 50% tariffs to appliances starting June 23 - Reuters
A range of imported household appliances, including dishwashers, washing machines, refrigerators, and more will be subject to US President Donald Trump’s expanded steel tariffs starting later this month, per Reuters.

02:12 Israel could strike Iran within days, US and Israeli officials say - WSJ
The Wall Street Journal (WSJ) reported late Thursday that Israel is prepared to attack Iran in the coming days if Tehran rejects a US proposal to limit its nuclear program, citing US and Israeli officials.

02:05 USD/CAD tumbles to near 1.3600 on cooling US PPI data
The USD/CAD pair edges lower to near 1.3600, its lowest since October 2024, during the early Asian session on Friday. Broad US Dollar (USD) weakness, driven by softer-than-expected US inflation data and a repricing of Federal Reserve (Fed) policy, acts as a headwind for the pair.

01:57 GBP/USD taps fresh 40-month high on renewed Greenback softness
GBP/USD climbed into fresh 40-month highs on Thursday, closing above the 1.3600 handle for the first time in over three years.

01:33 AUD/JPY Price Forecast: Steadies near 93.69 after two-day slide
The AUD/JPY retreated for the second consecutive day, remained below the 94.00 figure, and printed losses of 0.25% on Thursday. At the time of writing, the cross-pair trades at 93.66, virtually unchanged.

01:30 New Zealand Business NZ PMI: 47.5 (May) vs previous 53.9
New Zealand Business NZ PMI: 47.5 (May) vs previous 53.9

01:00 Argentina Consumer Price Index (MoM) below expectations (2%) in May: Actual (1.5%)
Argentina Consumer Price Index (MoM) below expectations (2%) in May: Actual (1.5%)

00:10 AUD/USD holds gains as RBA, Fed expectations drive price action
AUD/USD is trading just below key resistance as diverging economic signals between Australia and the United States drive renewed bullish momentum in the pair, which is currently trading at 0.6529, up 0.44% on Thursday.

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50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}Australian inflation expectations rise, increasing the likelihood that the RBA may hold back on additional rate cuts.Inflation trends in the United States ease, raising projections of a Fed rate cut in September.The AUD/USD rises as forecasts of a narrowing monetary policy divergence boost gains.AUD/USD is trading just below key resistance as diverging economic signals between Australia and the United States drive renewed bullish momentum in the pair, which is currently trading at 0.6529, up 0.44% on Thursday.Traders are closely monitoring Friday’s release of the University of Michigan Consumer Sentiment report and accompanying inflation expectations data. The preliminary June Consumer Sentiment Index is expected to be 53.5, up from 52.2 in May. Meanwhile, inflation expectations over the 1-year and 5-year horizons were previously reported at 6.6% and 4.2%, respectively. Any downside surprise in consumer sentiment or signs that inflation expectations remain elevated could heighten volatility in the USD and significantly influence the near-term direction of the AUD/USD exchange rate.Inflation trends and interest rate expectations lift AUD/USDAustralia’s Consumer Inflation Expectations, reported on Thursday, surged to 5% in June, up from 4.1% in May. This increase has reignited speculation that the Reserve Bank of Australia (RBA) could pause any dovish pivot and maintain a hawkish policy stance in response to persistent inflation concerns.In contrast, recent data from the United States has highlighted easing inflation trends and a stable labor market.These developments have solidified expectations for Federal Reserve rate cuts, with markets now pricing in a cut for September.AUD/USD trades below wedge resistance while bullish momentum buildsAUD/USD is trading just below key resistance at 0.6537, which marks the upper boundary of the rising wedge pattern on May 26. Above that is 0.6545, which is currently the year-to-date high, reached on Wednesday.A breakout above 0.6545 could open the door to further upside toward the 0.6600 psychological level, with the 78.6% retracement of the October-April decline at 0.6722 as a more extended target. On the downside, immediate support is located at the 20-day Simple Moving Average (SMA), near 0.6468, followed by the 200-day SMA at 0.6428, which coincides with the 50% Fibonacci retracement and represents a key level to watch for a potential shift in momentum. The Relative Strength Index (RSI) at 59 suggests that bullish momentum is building but not yet overextended.AUD/USD daily chart Economic Indicator Michigan Consumer Sentiment Index The Michigan Consumer Sentiment Index, released on a monthly basis by the University of Michigan, is a survey gauging sentiment among consumers in the United States. The questions cover three broad areas: personal finances, business conditions and buying conditions. The data shows a picture of whether or not consumers are willing to spend money, a key factor as consumer spending is a major driver of the US economy. The University of Michigan survey has proven to be an accurate indicator of the future course of the US economy. The survey publishes a preliminary, mid-month reading and a final print at the end of the month. Generally, a high reading is bullish for the US Dollar (USD), while a low reading is bearish. Read more. Next release: Fri Jun 13, 2025 14:00 (Prel) Frequency: Monthly Consensus: 53.5 Previous: 52.2 Source: University of Michigan Why it matters to traders? Consumer exuberance can translate into greater spending and faster economic growth, implying a stronger labor market and a potential pick-up in inflation, helping turn the Fed hawkish. This survey’s popularity among analysts (mentioned more frequently than CB Consumer Confidence) is justified because the data here includes interviews conducted up to a day or two before the official release, making it a timely measure of consumer mood, but foremost because it gauges consumer attitudes on financial and income situations. Actual figures beating consensus tend to be USD bullish. Australian Dollar FAQs What key factors drive the Australian Dollar? One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – is also a factor, with risk-on positive for AUD. How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia (RBA) influences the Australian Dollar (AUD) by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down. Relatively high interest rates compared to other major central banks support the AUD, and the opposite for relatively low. The RBA can also use quantitative easing and tightening to influence credit conditions, with the former AUD-negative and the latter AUD-positive. How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar (AUD). When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected. Positive or negative surprises in Chinese growth data, therefore, often have a direct impact on the Australian Dollar and its pairs. How does the price of Iron Ore impact the Australian Dollar? Iron Ore is Australia’s largest export, accounting for $118 billion a year according to data from 2021, with China as its primary destination. The price of Iron Ore, therefore, can be a driver of the Australian Dollar. Generally, if the price of Iron Ore rises, AUD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Iron Ore falls. Higher Iron Ore prices also tend to result in a greater likelihood of a positive Trade Balance for Australia, which is also positive of the AUD. How does the Trade Balance impact the Australian Dollar? The Trade Balance, which is the difference between what a country earns from its exports versus what it pays for its imports, is another factor that can influence the value of the Australian Dollar. If Australia produces highly sought after exports, then its currency will gain in value purely from the surplus demand created from foreign buyers seeking to purchase its exports versus what it spends to purchase imports. Therefore, a positive net Trade Balance strengthens the AUD, with the opposite effect if the Trade Balance is negative.

00:01 Silver Price Forecast: XAG/USD bounces back above $36.00 as the Dollar plunges
Silver price bounces off five-day lows of $35.46 and climbs past the $36.00 mark on Thursday as the Greenback gets battered, falling to nearly three-year lows. At the time of writing, the XAG/USD trades at $36.30, registering modest gains of 0.25% on Thursday, late in the North American session.

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Forex News Timeline

23:48 Oil Price Forecast: WTI rallies to $74 before settling above $72 WTI crude oil is surging amid escalating geopolitical tensions, with Israel’s recent strikes on Iran fueling a rally that pushed prices above the $74.00 handle on Friday.

23:08 Canadian Dollar continues to ride Greenback weakness to new highs The Canadian Dollar (CAD) caught yet another bid on Friday, climbing into new eight-month highs as the US Dollar (USD) holds in place and Crude Oil prices surge.

22:18 AUD/USD retreats as geopolitical risks increase, limiting US Dollar weakness The Australian Dollar (AUD) is weakening against the US Dollar (USD) on Friday, with price action being guided by a combination of factors.

21:21 USD/JPY recovers above 144.00 on Israel-Iran tensions, cautious BoJ The Japanese Yen (JPY) is trading weaker against the US Dollar (USD) on Friday, as geopolitical tensions and central bank policy divergence drive market flows.

20:23 USD/CAD breaks 1.3600 as US Dollar weakness returns The Canadian Dollar (CAD) is trading higher against the US Dollar (USD) in the American session on Friday, with the Loonie erasing gains from earlier sessions.

20:02 United States Baker Hughes US Oil Rig Count fell from previous 442 to 439 United States Baker Hughes US Oil Rig Count fell from previous 442 to 439

18:01 Colombia Retail Sales (YoY) came in at 11.4%, above expectations (8.5%) in April Colombia Retail Sales (YoY) came in at 11.4%, above expectations (8.5%) in April

17:00 United States Michigan Consumer Expectations Index rose from previous 47.9 to 58.4 in June United States Michigan Consumer Expectations Index rose from previous 47.9 to 58.4 in June

17:00 United States UoM 1-year Consumer Inflation Expectations fell from previous 6.6% to 5.1% in June United States UoM 1-year Consumer Inflation Expectations fell from previous 6.6% to 5.1% in June

17:00 United States UoM 5-year Consumer Inflation Expectation fell from previous 4.2% to 4.1% in June United States UoM 5-year Consumer Inflation Expectation fell from previous 4.2% to 4.1% in June

17:00 United States Michigan Consumer Sentiment Index registered at 60.5 above expectations (53.5) in June United States Michigan Consumer Sentiment Index registered at 60.5 above expectations (53.5) in June

16:16 US Dollar Index (DXY) recovers on Israel-Iran hostilities The US Dollar Index (DXY) is trading higher on Friday, with markets shifting focus on Israel’s war against Iran.

15:31 Canada Wholesale Sales (MoM) below expectations (-0.9%) in April: Actual (-2.3%) Canada Wholesale Sales (MoM) below expectations (-0.9%) in April: Actual (-2.3%)

15:30 Canada Capacity Utilization above forecasts (79.8%) in 1Q: Actual (80.1%) Canada Capacity Utilization above forecasts (79.8%) in 1Q: Actual (80.1%)

14:59 EU gas storage: half full or half empty? – Commerzbank The mood on the European gas market remains nervous: the next futures contract for the reference price TTF is now trading 5% higher than Tuesday's low, Commerzbank's commodity analyst Barbara Lambrecht notes.

14:56 EUR fades a portion of this week’s gains on sentiment and softer data – Scotiabank The Euro (EUR) is weak, down 0.6% and fully retracing Thursday’s ECB (and US PPI)-driven rally, fading back to the psychologically important 1.15 level.

14:53 Forecast revision also for Silver, Platinum and Palladium – Commerzbank In addition to Gold, we have also revised upwards our forecasts for Silver, Platinum and Palladium, Commerzbank's commodity analyst Carsten Fritsch notes.

14:52 Gold Price Forecast: XAU/USD resumes its uptrend with $3,440 on focus Gold (XAU/USD) appreciates for the third consecutive day on Friday, and is on track for a weekly rally beyond 3%.

14:47 Gold price benefits from moderate US price data – Commerzbank The Gold price rose to $3,445 per troy ounce overnight in response to Israel's attacks on Iran, the highest level since the record high almost two months ago, Commerzbank's commodity analyst Carsten Fritsch notes.

14:41 USD/CNH: Likely to trade in a range between 7.1700 and 7.1950 – UOB Group US Dollar (USD) is likely to trade in a range between 7.1700 and 7.1950. In the longer run, USD has likely moved into a 7.1620/7.2200 range trading phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

14:39 India FX Reserves, USD: $696.66B (June 2) vs $691.49B India FX Reserves, USD: $696.66B (June 2) vs $691.49B

14:39 US Oil production has apparently passed its peak – Commerzbank In its latest monthly report, the US Energy Information Administration (EIA) has revised its forecast for US Oil production downwards, Commerzbank's commodity analyst Carsten Fritsch notes.

14:30 USD/JPY: Further decline may not reach 142.20 today – UOB Group Strong momentum could outweigh oversold conditions, but any further decline in US Dollar (USD) may not reach 142.20 today.

14:25 Gold remains in demand as a safe haven – Commerzbank In response to Israel's attacks on Iran, the price of Gold also jumped, albeit without reaching a new record high, Commerzbank's commodity analysts Barbara Lambrecht and Carsten Fritsch notes.

14:22 NZD/USD: Unlikely to reach 0.5970 – UOB Group New Zealand Dollar (NZD) could weaken further against US Dollar (USD), but it is unlikely to reach 0.5970; note that there is another support level at 0.5995.

14:18 Gold: Uptrend resumes toward $3500 – Société Générale Gold resumes its upward trajectory after holding key support levels, now challenging recent highs with upside targets in sight, Société Générale's FX analysts note.

14:16 AUD/USD: Major support at 0.6430 is unlikely to come under threat – UOB Group There is scope for Australian Dollar (AUD) to decline to 0.6460 against US Dollar (USD); the major support at 0.6430 is unlikely to come under threat.

14:10 Brent confirms double bottom – Société Générale Brent crude is showing bullish continuation signals after confirming a double bottom and breaking above its consolidation range, with momentum indicators pointing toward further upside, Société Générale's FX analysts note.

14:08 GBP/USD: A move to 1.3700 can be expected above 1.3640 – UOB Group Pound Sterling (GBP) is likely to trade in a range of 1.3540/1.3640. 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.

14:04 GBP: A rough week gets rougher – ING The week has been a rather negative one for the pound’s domestic drivers, ING's FX analyst Francesco Pesole notes.

14:04 AUD/JPY Price Forecast: Recovers early losses sharply The AUD/JPY pair claws back a majority of early losses and rebounds from the intraday low of 92.32 during European trading hours on Friday. Still, the pair is down 0.5% to near 93.30.

14:02 GBP/USD: Rally stalled – OCBC Pound Sterling (GBP) had a choppy session overnight. Pair was last at 1.3533 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

13:04 US President Trump: Iran must make a deal before there is nothing left US President Donald Trump took to his social media platform, Truth Social, on Friday to say that ”Iran must make a deal before there is nothing left.”

12:55 DXY: Return of safe haven – OCBC US Dollar (USD) fell overnight as US PPI data underwhelmed. DXY was last at 98.32 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

12:49 EUR/USD: Some retracement in the near term – OCBC Euro (EUR) traded an overnight high of 1.1631 before erasing gains on heightened geopolitical tensions. Pair was last at 1.1520 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

12:49 EUR/USD has further upside potential – Commerzbank On Thursday afternoon, the US President once again criticised one of his favourite targets, the Chairman of the Federal Reserve, Jerome Powell.

12:36 EUR: Not liking the oil rally – ING The Euro (EUR) generally dislikes geopolitical shocks leading to higher energy prices, and has therefore detached from JPY and CHF in early price action after the Israeli strike on Iran.

12:30 Silver price today: Silver broadly unchanged, according to FXStreet data Silver prices (XAG/USD) broadly unchanged on Friday, according to FXStreet data.

12:03 Silver Price Forecast: XAG/USD flat lines below mid-$36.00s; bullish potential seems intact Silver (XAG/USD) struggled to capitalize on the previous day's recovery from the $35.45 area, or the weekly low and witnessed a good two-way price move through the first half of the European session.

12:01 Eurozone Trade Balance s.a. fell from previous €27.9B to €14B in April Eurozone Trade Balance s.a. fell from previous €27.9B to €14B in April

12:00 Eurozone Trade Balance n.s.a. below expectations (€18.2B) in April: Actual (€9.9B) Eurozone Trade Balance n.s.a. below expectations (€18.2B) in April: Actual (€9.9B)

12:00 Eurozone Industrial Production w.d.a. (YoY) below expectations (1.4%) in April: Actual (0.8%) Eurozone Industrial Production w.d.a. (YoY) below expectations (1.4%) in April: Actual (0.8%)

12:00 Eurozone Industrial Production s.a. (MoM) below forecasts (-1.7%) in April: Actual (-2.4%) Eurozone Industrial Production s.a. (MoM) below forecasts (-1.7%) in April: Actual (-2.4%)

11:32 United Kingdom Consumer Inflation Expectations fell from previous 3.4% to 3.2% United Kingdom Consumer Inflation Expectations fell from previous 3.4% to 3.2%

11:01 Italy Trade Balance EU: €0.162B (April) vs €-2.453B Italy Trade Balance EU: €0.162B (April) vs €-2.453B

11:01 Italy Global Trade Balance came in at €2.482B below forecasts (€2.75B) in April Italy Global Trade Balance came in at €2.482B below forecasts (€2.75B) in April

10:58 USD/CHF returns above 0.8100 with the US Dollar buoyed by geopolitical tensions The US Dollar is trimming losses after a sharp decline on Thursday.

10:43 Iran confirms top military deaths, accuses Israel of crossing all red lines Israel has launched strikes across Iran, targeting the "heart" of Iran's nuclear program.

10:40 Forex Today: Gold surges higher as tensions in Middle East escalate Here is what you need to know on Friday, June 13:

10:40 EUR/USD retreats on risk aversion after Israel’s attack on Iran The EUR/USD pair snaps a four-day rally on Friday, retreating from nearly four-year highs above 1.1600 to the lower range of the 1.1500s.

10:38 Pound Sterling slumps as Middle East tensions diminish appeal for risky assets The Pound Sterling (GBP) underperforms against its major peers on Friday, except for antipodean currencies, as market sentiment turns risk-averse amid escalating geopolitical tensions in the Middle East.

10:00 Spain Consumer Price Index (MoM) registered at 0.1% above expectations (0%) in May Spain Consumer Price Index (MoM) registered at 0.1% above expectations (0%) in May

10:00 Spain Consumer Price Index (YoY) registered at 2% above expectations (1.9%) in May Spain Consumer Price Index (YoY) registered at 2% above expectations (1.9%) in May

10:00 Spain Harmonized Index of Consumer Prices (MoM) registered at 0% above expectations (-0.1%) in May Spain Harmonized Index of Consumer Prices (MoM) registered at 0% above expectations (-0.1%) in May

10:00 Spain Harmonized Index of Consumer Prices (YoY) above forecasts (1.9%) in May: Actual (2%) Spain Harmonized Index of Consumer Prices (YoY) above forecasts (1.9%) in May: Actual (2%)

09:45 France Consumer Price Index (EU norm) (MoM) meets forecasts (-0.2%) in May France Consumer Price Index (EU norm) (MoM) meets forecasts (-0.2%) in May

09:45 France Consumer Price Index (EU norm) (YoY) in line with expectations (0.6%) in May France Consumer Price Index (EU norm) (YoY) in line with expectations (0.6%) in May

09:45 France Inflation ex-tobacco (MoM) dipped from previous 0.6% to -0.1% in May France Inflation ex-tobacco (MoM) dipped from previous 0.6% to -0.1% in May

09:00 Germany Consumer Price Index (MoM) in line with expectations (0.1%) in May Germany Consumer Price Index (MoM) in line with expectations (0.1%) in May

09:00 Germany Harmonized Index of Consumer Prices (YoY) meets expectations (2.1%) in May Germany Harmonized Index of Consumer Prices (YoY) meets expectations (2.1%) in May

09:00 Germany Harmonized Index of Consumer Prices (MoM) meets forecasts (0.2%) in May Germany Harmonized Index of Consumer Prices (MoM) meets forecasts (0.2%) in May

09:00 Germany Consumer Price Index (YoY) in line with expectations (2.1%) in May Germany Consumer Price Index (YoY) in line with expectations (2.1%) in May

08:31 FX option expiries for Jun 13 NY cut FX option expiries for Jun 13 NY cut at 10:00 Eastern Time vi a DTCC can be found below.

08:15 IAEA says there is no increase in radiation levels observed at Iran's Natanz facility The International Atomic Energy Agency (IAEA) stated on Friday that the Natanz nuclear facility was confirmed to have been hit many times and is reported to be "completely destroyed" here.

08:06 Silver Price Forecast: XAG/USD trades near $36.00 support, ascending channel’s lower boundary Silver price (XAG/USD) retraces its recent gains registered in the previous session, trading around $36.30 per troy ounce during the Asian hours on Friday.

07:38 GBP/USD tumbles below 1.3550 amid risk-off sentiment The GBP/USD pair loses ground to near 1.3530 during the early European session on Friday. The Pound Sterling (GBP) weakens against US Dollar (USD) due to heightened geopolitical tensions in the Middle East.

07:35 India Gold price today: Gold rises, according to FXStreet data Gold prices rose in India on Friday, according to data compiled by FXStreet.

07:32 Japan Capacity Utilization rose from previous -2.4% to 1.3% in April Japan Capacity Utilization rose from previous -2.4% to 1.3% in April

07:31 Japan Tertiary Industry Index (MoM) came in at 0.3%, above forecasts (0.2%) in April Japan Tertiary Industry Index (MoM) came in at 0.3%, above forecasts (0.2%) in April

07:31 Japan Industrial Production (YoY) declined to 0.5% in April from previous 0.7% Japan Industrial Production (YoY) declined to 0.5% in April from previous 0.7%

07:30 Japan Industrial Production (MoM) registered at -1.1%, below expectations (-0.9%) in April Japan Industrial Production (MoM) registered at -1.1%, below expectations (-0.9%) in April

06:21 EUR/USD breaks below 1.1550 due to risk-off sentiment EUR/USD halts its four-day winning streak, pulling back from 1.1631, the highest since October 2021, and currently trading around 1.1530 during the Asian hours on Friday.

06:00 Iran Armed Forces: Israel and the US will "pay a very heavy price" Iran's Armed Forces General staff responded on Friday, warning that Israel and the US will "pay a very heavy price".

05:39 AUD./JPY bounces off two-week low, keeps the red below 93.00 amid the anti-risk flow The AUD/JPY cross attracts sellers for the third successive day on Friday and plummets to a nearly two-week low, around the 92.30 region during the Asian session.

05:26 Japanese Yen remains on the front foot as Middle East tensions rise The Japanese Yen (JPY) advances to over a one-week high against its American counterpart during the Asian session on Friday and draws support from a combination of factors.

04:51 Australian Dollar falls due to risk-off sentiment amid escalating Israel-Iran tensions The Australian Dollar (AUD) declines against the US Dollar (USD) on Friday, with over 1% losses. The AUD/USD pair depreciates due to escalating tensions in the Middle East.

04:49 US Secretary of State Rubio: Iran should not target US interests or personnel White House Secretary of State Marco Rubio released a statement following Israel’s attack on attack on Iran.

04:29 WTI climbs above $72.00 on heightened geopolitical tensions in the Middle East West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $72.05 during the Asian trading hours on Friday.

04:15 PBOC sets USD/CNY reference rate at 7.1772 vs. 7.1803 previous On Friday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1772 as compared to the previous day's fix of 7.1803 and 7.1685 Reuters estimate.