Euro weakens to near 1.1400 as US-Iran escalation boosts US Dollar
Euro weakens to near 1.1400 as US-Iran escalation boosts US Dollar
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Euro weakens to near 1.1400 as US-Iran escalation boosts US Dollar
Forex
The EUR/USD ended the week on the back foot, surrendering its earlier poise during Friday's session. From mid-week until that point, the pair had displayed a rather unexpected degree of composure, even as tensions in the Middle East flared up again.
The Australian dollar enters the week on uncertain footing after its recent recovery began to lose momentum. Australian consumer and business sentiment will be monitored, but the spotlight falls on Tuesday's US CPI report and Fed Chair Kevin Warsh's congressional testimony.
The Euro to Dollar (EUR/USD) exchange rate is holding close to 1.1415, despite renewed geopolitical tensions in the Middle East that would normally be expected to support the US Dollar. UniCredit believes the Dollar's muted response reflects a combination of higher global bond yields, resilient equity markets and fading expectations.
Gold prices slipped as oil-driven inflation fears pushed September Fed hike odds above 50%, lifting Treasury yields and the dollar ahead of CPI.
Rising inflation and bond yields keep another BOJ rate hike in focus, while USDJPY, GBPJPY and EURJPY remain bullish above key support levels.
The US Dollar to Chinese Yuan (USD/CNY) exchange rate is trading around 6.78 after retreating steadily through 2026, with the Yuan continuing to outperform many major currencies. Westpac expects the Renminbi to strengthen further over the next two years, forecasting USD/CNY will fall to 6.75 by September, 6.70 by year-end and eventually.
For more than a month, sellers have repeatedly pressed the same technical floor without securing a decisive weekly breakdown. That resilience has left XAU/USD locked in an increasingly important consolidation as the July opening range develops and the broader March decline begins to lose momentum.
The US Dollar to Canadian Dollar (USD/CAD) exchange rate has eased back to around 1.4160 after retreating from June's highs above 1.42, with the Canadian Dollar finding support from firmer oil prices and improving risk sentiment. Latest — Exchange Rates:Dollar to Canadian Dollar (USD/CAD): 1.41574 (-0.07%)Pound to Canadian Dollar.
The Euro to Dollar (EUR/USD) exchange rate is trading around 1.1415 after losing more than 2% during June and struggling to build a sustained recovery in July. Goldman Sachs has lowered its six- and 12-month EUR/USD forecasts to 1.12, compared with previous targets of 1.18 and 1.20 respectively.
The US Dollar to Canadian Dollar (USD/CAD) exchange rate has retreated to around 1.4160 after reaching highs above 1.42 earlier this month, with the Canadian Dollar showing signs of stabilising following its steep May and June losses. Scotiabank believes the CAD sell-off may have run its course as short-term US-Canada interest-rate spreads.
The price of Gold has recovered from June's sharp sell-off, and HSBC believes the precious metal can continue to rebound even as a hawkish Federal Reserve keeps US yields elevated. The Gold price in US Dollars (XAU/USD) traded near $4,165 on Friday, up almost 1% on the day after rebounding more than 3% since the start of July.
USD/JPY extended the consolidation pattern from 162.83 with another falling leg last week. Overall outlook is unchanged and initial bias remains neutral first.
The Euro to Dollar (EUR/USD) exchange rate has slipped back towards 1.1415 as investors continue to favour the US Dollar following resilient US economic data and expectations that the Federal Reserve will keep interest rates higher for longer. HSBC believes EUR/USD is likely to face renewed downside pressure as markets shift their focus.
Silver Price Forecast: Lower high structure holds, bear's eye $55.00
Gold is testing critical trend resistance after a sharp correction, with key support holding. The next move depends on whether bulls can regain momentum.
Gold price slips as Trump says Iran ceasefire is over
United States CFTC Gold NC Net Positions: $194.2K vs $194K
EUR/USD continues to trade within an increasingly compressed range, with both the weekly and monthly opening ranges developing just above a major support zone. The repeated failure to break lower has left the April downtrend vulnerable near-term, while buyers still need a decisive breakout to suggest a more durable low is in place.
Global markets are nervously anticipating the release of the U.S. Consumer Price Index (CPI).