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FXStreet
Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.
EUR/USD rapidly leaves behind Friday’s small downtick and trades with solid gains on Monday, consolidating its daily advance around the 1.1600 region as the NA session draws to a close. Meanwhile, the improved risk appetite following the US-Iran deal and the reopening of the Strait of Hormuz continues to weigh on the US Dollar, lending support to the broader risk-linked galaxy.
GBP/USD keeps its advance past the 1.3400 yardstick at the beginning of the week. In the meantime, Cable continues to draw support from improved market sentiment following reports that the US and Iran have reached a framework agreement aimed at ending the conflict and reopening the Strait of Hormuz.
Gold builds on its recent gains on Monday, climbing well north of the $4,300 mark per troy ounce. The yellow metal benefits from renewed selling pressure on the Greenback as investors reassess the implications of the US-Iran agreement to end hostilities and reopen the Strait of Hormuz. Market participants now turn their attention to Wednesday's FOMC gathering.
Bank Indonesia’s emergency rate hike has bought the Rupiah some time, but the currency’s hesitant response suggests it has not yet restored confidence. Can higher interest rates solve the Rupiah’s problem, or do the country’s challenges run deeper?
May's CPI put headline inflation at 4.2% on the year, up from 3.8% in April and the hottest reading since April 2023, while core prices rose just 0.2% on the month, undershooting the 0.3% consensus and halving April's pace.
