Forex News Timeline

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The Japanese Yen (JPY) strengthens against the Australian Dollar (AUD) amid the rising geopolitical tensions in the Middle East. Traders will keep an eye on Japan’s May National Consumer Price Index (CPI) data and Bank of Japan (BoJ) Monetary Policy Meeting Minutes, which are due later on Friday. Data released by the Australian Bureau of Statistics (ABS) on Thursday revealed that the country’s Unemployment Rate steadied at 4.1% in May, in line with the market consensus. Meanwhile, the Employment Change came in at -2.5K in May versus 87.6K prior (revised from 89K), compared with the consensus of 25K.The Australian employment data fails to boost the Aussie as traders closely monitor the developments surrounding Israel-Iran tensions. The fear that direct US involvement would widen the conflict boosts the safe-haven flows, supporting the Japanese Yen.Bloomberg reported early Thursday, citing unnamed sources, that “US officials prepare for possible Iran strike in coming days.” Late Tuesday, US President Trump said that he approved of attack plans for Iran but held them to see if Tehran would abandon its nuclear program. Trump emphasized his insistence on Iran’s unconditional surrender, but Iranian Supreme Leader Ayatollah Ali Khamenei rejected the US demand.On the other hand, reduced bets for the Bank of Japan (BoJ) this year might weigh on the JPY and create a tailwind for AUD/JPY. The BoJ's cautious approach to unwinding its decade-long monetary stimulus has prompted traders to push back their expectations about the likely timing of the next interest rate hike to the first quarter of 2026. 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.

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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}}The Australian Dollar remains subdued after mixed employment figures were released on Thursday.Australia’s Employment Change surprisingly declined by 2.5K in May, while Unemployment Rate steadied at 4.1% as expected.The Federal Reserve kept its interest rates on hold at 4.5% in June, as expected.The Australian Dollar (AUD) depreciated against the US Dollar (USD) on Thursday, retracing its recent gains registered in the previous session. The AUD/USD pair holds losses following the employment data release from Australia. The risk-sensitive pair also struggles due to dampened risk sentiment amid escalating Middle East tensions.Australia’s Employment Change fell by 2.5K in May against a 87.6K increase in April (revised from 89K) and the consensus forecast of a 25K rise. Furthermore, the Unemployment Rate steadied at 4.1% in May, as expected.Bloomberg cited unnamed sources on Thursday, reporting that “US officials prepare for possible Iran strike in coming days.” “The US plans for any Iran attack continue to evolve.” Moreover, the Wall Street Journal cited individuals familiar with discussions, saying that US President Trump said late Tuesday that he approved of attack plans for Iran, but held it to see if Tehran would abandon its nuclear program.Australian Dollar declines as US Dollar appreciates amid increased risk aversionThe US Dollar Index (DXY), which measures the value of the US Dollar against six major currencies, is trading higher at around 99.00 at the time of writing.The US Federal Reserve (Fed) decided to keep interest rates steady at 4.5% in June as widely expected. The Federal Open Market Committee (FOMC) still sees around 50 basis points of interest rate cuts through the end of 2025.Fed Chair Jerome Powell warned that ongoing policy uncertainty will keep the Fed in a rate-hold stance, and any rate cuts will be contingent on further improvement in labor and inflation data.US Retail Sales fell by 0.9% in May, worse than the expected 0.7% decline and April’s 0.1% decrease (revised from +0.1%).On Tuesday, US President Donald Trump posted on his social media platform, calling for Iran’s “unconditional surrender.” Investors are concerned that the United States will participate in the Israel-Iran conflict.G7 leaders issued a joint statement on Monday: “We have been consistently clear that Iran can never have a nuclear weapon.” The leaders emphasized that resolving the Iranian crisis could lead to broader de-escalation of hostilities in the region.China Retail Sales rose 6.4% year-over-year in May, surpassing the 5.0% expected and April’s 5.1% increase. Meanwhile, Industrial Production increased 5.8% YoY, but came in below the 5.9% forecast and 6.1% prior.Moreover, the National Bureau of Statistics (NBS) in China noted that the domestic economy is expected to have remained generally stable for the first half (H1) of 2025. However, economic growth in China may struggle since the second quarter due to uncertain trade policies.Australian Dollar remains below 0.6500, tests ascending channel’s lower boundaryAUD/USD is trading around 0.6490 on Thursday, with a prevailing bullish bias as the daily chart’s technical analysis indicates that the pair remains within the ascending channel. The 14-day Relative Strength Index (RSI) is positioned slightly above the 50 mark, suggesting a persistent bullish bias. However, the pair remains below the nine-day Exponential Moving Average (EMA), indicating that short-term price momentum is weakening.The immediate barrier appears at the nine-day EMA of 0.6496, followed by the seven-month high of 0.6552, which was recorded on June 16. A break above this level could support the pair to target the eight-month high at 0.6687, followed by the upper boundary of the ascending channel around 0.6740.On the downside, the AUD/USD pair is testing the ascending channel’s lower boundary around 0.6480. A break below the channel would weaken the bullish bias and prompt the pair to test the 50-day EMA at 0.6434.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 US Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD 0.21% 0.20% -0.06% 0.18% 0.41% 0.55% 0.07% EUR -0.21% -0.00% -0.30% -0.09% 0.14% 0.30% -0.18% GBP -0.20% 0.00% -0.29% -0.08% 0.14% 0.39% 0.00% JPY 0.06% 0.30% 0.29% 0.19% 0.33% 0.53% 0.19% CAD -0.18% 0.09% 0.08% -0.19% 0.14% 0.39% 0.09% AUD -0.41% -0.14% -0.14% -0.33% -0.14% 0.30% -0.21% NZD -0.55% -0.30% -0.39% -0.53% -0.39% -0.30% -0.43% CHF -0.07% 0.18% -0.01% -0.19% -0.09% 0.21% 0.43% 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). Economic Indicator Employment Change s.a. The Employment Change released by the Australian Bureau of Statistics is a measure of the change in the number of employed people in Australia. The statistic is adjusted to remove the influence of seasonal trends. Generally speaking, a rise in Employment Change has positive implications for consumer spending, stimulates economic growth, and is bullish for the Australian Dollar (AUD). A low reading, on the other hand, is seen as bearish. Read more. Last release: Thu Jun 19, 2025 01:30 Frequency: Monthly Actual: -2.5K Consensus: 25K Previous: 89K Source: Australian Bureau of Statistics

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Reduced bets for a BoJ rate hike in 2025 and trade uncertainties cap gains for the JPY.The USD climbs to over one-week high and lends some support to the USD/JPY pair.The Japanese Yen (JPY) edges higher against its American counterpart following the previous day's good two-way price moves amid the global flight to safety. Against the backdrop of the uncertainty surrounding US President Donald Trump's trade policies and rising geopolitical tensions in the Middle East, the Federal Reserve's (Fed) hawkish pause on Wednesday tempers investors' appetite for riskier assets. This helps revive demand for traditional safe-haven assets and in turn, underpins the JPY. Meanwhile, the Bank of Japan's (BoJ) cautious approach to unwinding its decade-long monetary stimulus forced investors to push back their expectations about the likely timing of the next interest rate hike to Q1 2026. Apart from this, concerns about the potential economic fallout from existing 25% US tariffs on Japanese vehicles and 24% reciprocal levies on other imports might cap the JPY. This, along with the recent US Dollar (USD) bounce from a three-year low, supports the USD/JPY pair. Japanese Yen attracts some safe-haven flows amid rising Middle East tensionsThe Federal Reserve, as was widely expected, kept interest rates steady at the end of a two-day policy meeting on Wednesday amid expectations of higher inflation ahead. In the closely watched “dot plot,” the committee indicated that two cuts by the end of 2025 are still on the table.Fed officials, however, forecasted a single quarter-percentage-point rate cut in each of 2026 and 2027. Moreover, seven of the 19 policymakers indicated they wanted no cuts this year, up from four in March, amid the risk that inflation could stay persistently higher and end the year at 3%.This comes on top of US President Donald Trump's remarks earlier this week, that tariffs on the pharma sector are coming soon, and weigh on investors' sentiment. This, along with geopolitical risks stemming from the Israel-Iran conflict, benefits the Japanese Yen's safe-haven status.As the Israel-Iran conflict enters its seventh day, reports suggest that US officials are preparing for a possible Iran strike this coming weekend. According to the Wall Street Journal, Trump approved attack plans for Iran but is holding off to see if Tehran will abandon its nuclear program.Meanwhile, Iran's Supreme Leader Ayatollah Ali Khamenei said in a national address that Iran will not surrender and warned that any US military intervention would result in irreparable damage. This, in turn, raises the risk of a broader regional conflict in the Middle East. On the trade-related front, Japan's Prime Minister Shigeru Ishiba said this week that we have not yet reached an agreement as there are still some differences between the two sides. This comes ahead of the July 9 deadline for higher reciprocal US tariffs and might cap the JPY. The US Dollar, on the other hand, stands near its highest level in over a week on the back of the Fed's hawkish pause. This is seen offering some support to the USD/JPY pair and warrants caution for bearish traders in the absence of any relevant US economic data on Thursday. USD/JPY bulls await a breakout through the 145.45 hurdle before placing fresh betsFrom a technical perspective, any further slide is likely to find decent support and might still be seen as a buying opportunity near the 144.50-144.45 area, below which the USD/JPY pair could slide to the 144.00 mark. A convincing break below the latter would expose the next relevant support near the 143.55-143.50 region before spot prices eventually drop to the 143.00 round figure en route to last Friday's swing low, around the 142.80-142.75 region.On the flip side, the 145.45 area, representing the top end of a short-term trading range and the monthly swing high, might continue to act as an immediate hurdle. A sustained strength beyond will be seen as a fresh trigger for bullish traders. Given that oscillators on the daily chart have just started gaining positive traction, spot prices might then aim to conquer the 146.00 round figure before climbing further to the 146.25-146.30 region, or the May 29 peak.  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.

Citing unnamed sources, Bloomberg reported early Thursday, “US officials prepare for possible Iran strike in coming days.”“The US plans for any Iran attack continue to evolve,” the sources added.

.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 People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Thursday at 7.1729 as compared to the previous day's fix of 7.1761 and 7.1916 Reuters estimate. PBOC FAQs What does the People's Bank of China do? The primary monetary policy objectives of the People's Bank of China (PBoC) are to safeguard price stability, including exchange rate stability, and promote economic growth. China’s central bank also aims to implement financial reforms, such as opening and developing the financial market. Who owns the PBoC? The PBoC is owned by the state of the People's Republic of China (PRC), so it is not considered an autonomous institution. The Chinese Communist Party (CCP) Committee Secretary, nominated by the Chairman of the State Council, has a key influence on the PBoC’s management and direction, not the governor. However, Mr. Pan Gongsheng currently holds both of these posts. What are the main policy tools used by the PBoC? Unlike the Western economies, the PBoC uses a broader set of monetary policy instruments to achieve its objectives. The primary tools include a seven-day Reverse Repo Rate (RRR), Medium-term Lending Facility (MLF), foreign exchange interventions and Reserve Requirement Ratio (RRR). However, The Loan Prime Rate (LPR) is China’s benchmark interest rate. Changes to the LPR directly influence the rates that need to be paid in the market for loans and mortgages and the interest paid on savings. By changing the LPR, China’s central bank can also influence the exchange rates of the Chinese Renminbi. Are private banks allowed in China? Yes, China has 19 private banks – a small fraction of the financial system. The largest private banks are digital lenders WeBank and MYbank, which are backed by tech giants Tencent and Ant Group, per The Straits Times. In 2014, China allowed domestic lenders fully capitalized by private funds to operate in the state-dominated financial sector.

.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}}WTI price edges higher to around $73.00 in Thursday’s early Asian session.Trump privately approved attack plans for Iran pending a final order.US Crude Oil Inventories fell the most in one year, according to the EIA.West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $73.00 during the Asian trading hours on Thursday. The WTI price edges higher amid fears that the Israel-Iran crisis could spiral into a broader conflict involving the United States (US).US President Trump said late Tuesday that he approved of attack plans for Iran but held them to see if Tehran would abandon its nuclear program, per the Wall Street Journal. Trump emphasized his insistence on Iran’s unconditional surrender, but Iranian Supreme Leader Ayatollah Ali Khamenei rejected the US demand. Analysts said direct US involvement would widen the conflict, putting energy infrastructure in the region at higher risk of attack. This, in turn, could boost the WTI price in the near term.US Crude Inventories posted a massive draw last week. The US Energy Information Administration (EIA) weekly report showed crude oil stockpiles in the US for the week ending June 13 fell sharply by 11.473 million barrels, compared to a decline of 3.644 million barrels in the previous week. The market consensus estimated that stocks would decrease by 2.3 million barrels.Nonetheless, the expectations of lower demand might cap the upside for the WTI. In its monthly oil report on Tuesday, the International Energy Agency (EIA) revised its world oil demand estimate downwards by 20,000 barrels per day from last month's forecast and increased the supply estimate by 200,000 bpd to 1.8 million bpd. WTI Oil FAQs What is WTI Oil? WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. What factors drive the price of WTI Oil? Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa. How does inventory data impact the price of WTI Oil The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency. How does OPEC influence the price of WTI Oil? OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.

.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}} US President Trump said late Tuesday that he approved of attack plans for Iran, but held it to see if Tehran would abandon its nuclear program, the Wall Street Journal cited individuals familiar with discussions on Trump and Iran. Asked if Trump had decided whether to strike at Iran’s nuclear facilities, he said, “I may do it, I may not do it.” And he emphasized his insistence on Iran’s unconditional surrender. Market reactionAt the time of writing, the Gold price (XAU/USD) is trading 0.28% higher on the day to trade at $3,378. 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.

.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 posts modest gains around 0.6030 in Thursday’s early Asian session.New Zealand's economy grew faster than expected in Q1, supporting the Kiwi.The Fed kept its key borrowing rate targeted in a range between 4.25%-4.50% on Wednesday. The NZD/USD pair trades with mild gains near 0.6030 during the early Asian session on Thursday. The New Zealand Dollar (NZD) strengthens against the Greenback due to the stronger-than-expected New Zealand’s Gross Domestic Product (GDP) report. US markets will be closed on Thursday for the Juneteenth holiday.
Data released by Statistics New Zealand on Thursday showed that the country’s GDP grew by 0.8% QoQ in the first quarter (Q1), compared with a 0.5% expansion (revised from 0.7%) in the fourth quarter. This reading came in above the market consensus of 0.7%. Meanwhile, the first-quarter GDP contracted by 0.7% YoY, compared with a fall of 1.3% (revised from -1.1%) in Q4, stronger than the estimation of a 0.8% decline. The upbeat New Zealand data provides some support to the Kiwi against the US Dollar. The Federal Reserve (Fed) on Wednesday decided to keep its interest rates steady amid expectations of higher inflation and lower economic growth. Fed officials continued to pencil in two rate reductions later this year. However, it expects one rate cut for both 2026 and 2027. During the press conference, Fed Chair Jerome Powell said that there is time to wait for more clarity before deciding on policy.Reuters reported on Wednesday that the US military is also bolstering its presence in the Middle East, prompting speculation about US intervention that investors fear could widen the conflict in the region. Any signs of escalation in the Middle East could boost the safe-haven flows and benefit the Greenback.  New Zealand Dollar FAQs What key factors drive the New Zealand Dollar? The New Zealand Dollar (NZD), also known as the Kiwi, is a well-known traded currency among investors. Its value is broadly determined by the health of the New Zealand economy and the country’s central bank policy. Still, there are some unique particularities that also can make NZD move. The performance of the Chinese economy tends to move the Kiwi because China is New Zealand’s biggest trading partner. Bad news for the Chinese economy likely means less New Zealand exports to the country, hitting the economy and thus its currency. Another factor moving NZD is dairy prices as the dairy industry is New Zealand’s main export. High dairy prices boost export income, contributing positively to the economy and thus to the NZD. How do decisions of the RBNZ impact the New Zealand Dollar? The Reserve Bank of New Zealand (RBNZ) aims to achieve and maintain an inflation rate between 1% and 3% over the medium term, with a focus to keep it near the 2% mid-point. To this end, the bank sets an appropriate level of interest rates. When inflation is too high, the RBNZ will increase interest rates to cool the economy, but the move will also make bond yields higher, increasing investors’ appeal to invest in the country and thus boosting NZD. On the contrary, lower interest rates tend to weaken NZD. The so-called rate differential, or how rates in New Zealand are or are expected to be compared to the ones set by the US Federal Reserve, can also play a key role in moving the NZD/USD pair. How does economic data influence the value of the New Zealand Dollar? Macroeconomic data releases in New Zealand are key to assess the state of the economy and can impact the New Zealand Dollar’s (NZD) valuation. A strong economy, based on high economic growth, low unemployment and high confidence is good for NZD. High economic growth attracts foreign investment and may encourage the Reserve Bank of New Zealand to increase interest rates, if this economic strength comes together with elevated inflation. Conversely, if economic data is weak, NZD is likely to depreciate. How does broader risk sentiment impact the New Zealand Dollar? The New Zealand Dollar (NZD) tends to strengthen during risk-on periods, or when investors perceive that broader market risks are low and are optimistic about growth. This tends to lead to a more favorable outlook for commodities and so-called ‘commodity currencies’ such as the Kiwi. Conversely, NZD tends to weaken at times of market turbulence or economic uncertainty as investors tend to sell higher-risk assets and flee to the more-stable safe havens.

.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}}USD/CAD strengthens to around 1.3695 in Thursday’s early Asian session.Fed officials voted to hold the benchmark federal funds rate steady at its June meeting on Wednesday. Trump will discuss his advisers on the Israel-Iran conflict but is undecided on a US strike. The USD/CAD pair trades in positive territory for the third consecutive day near 1.3695 during the early Asian session on Thursday. The US dollar (USD) edges higher against the Canadian Dollar (CAD) after the Federal Reserve (Fed) kept interest rates unchanged at the June policy meeting. Investors will closely monitor the Middle East conflict as tensions continue. The Federal Open Market Committee (FOMC) voted unanimously on Wednesday to leave the interest rate unchanged in a range of 4.25%-4.50%. Fed officials continued to pencil in two interest-rate reductions in 2025, though new projections showed a growing divide among policymakers.Fed officials expect US President Donald Trump’s tariff policies could weigh on economic activity and put upward pressure on prices. Policymakers raised their median estimate for inflation at the end of 2025 to 3.0% from 2.7%, while revising their forecast for economic growth in 2025 to 1.4% from 1.7%. Fed officials forecast an Unemployment Rate of 4.5% by the end of the year, up slightly from their previous estimate.Investors remain focused on the conflicts between Israel and Iran, which boost the safe-haven flows, supporting the Greenback. Trump said on Wednesday that he would hold another meeting Wednesday to discuss the conflict in the Middle East, but he had not made a final decision on whether the US plans to join Israel’s offensive aimed at destroying Iran’s nuclear enrichment program.Meanwhile, a rise in Crude Oil prices might lift the commodity-linked Loonie and cap the upside for the pair. It’s worth noting that Canada is the largest oil exporter to the US, and higher crude oil prices tend to have a positive impact on the CAD value.   Canadian Dollar FAQs What key factors drive the Canadian Dollar? The key factors driving the Canadian Dollar (CAD) are the level of interest rates set by the Bank of Canada (BoC), the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports. Other factors include market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar. How do the decisions of the Bank of Canada impact the Canadian Dollar? The Bank of Canada (BoC) has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD. The Bank of Canada can also use quantitative easing and tightening to influence credit conditions, with the former CAD-negative and the latter CAD-positive. How does the price of Oil impact the Canadian Dollar? The price of Oil is a key factor impacting the value of the Canadian Dollar. Petroleum is Canada’s biggest export, so Oil price tends to have an immediate impact on the CAD value. Generally, if Oil price rises CAD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Oil falls. Higher Oil prices also tend to result in a greater likelihood of a positive Trade Balance, which is also supportive of the CAD. How does inflation data impact the value of the Canadian Dollar? While inflation had always traditionally been thought of as a negative factor for a currency since it lowers the value of money, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Higher inflation tends to lead central banks to put up interest rates which attracts more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in Canada’s case is the Canadian Dollar. How does economic data influence the value of the Canadian Dollar? Macroeconomic data releases gauge the health of the economy and can have an impact on the Canadian Dollar. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the CAD. A strong economy is good for the Canadian Dollar. Not only does it attract more foreign investment but it may encourage the Bank of Canada to put up interest rates, leading to a stronger currency. If economic data is weak, however, the CAD is likely to fall.

New Zealand's Gross Domestic Product (GDP) grew by 0.8% QoQ in the first quarter (Q1), compared with a 0.5% expansion (revised from 0.7%) in the fourth quarter, Statistics New Zealand showed on Thursday. This reading came in stronger than expectations of 0.7%.
More to come....

.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}}GBP/USD remains stuck near 1.3400 following an early-week decline.The Fed held interest rates steady, as markets broadly expected, with the requisite warnings about labor and inflation.The BoE is up next with its own interest rate decision; no change in UK rates is expected.GBP/USD spun a circle on Wednesday, rising and falling through the Federal Reserve’s (Fed) latest rate hold. Cable is caught in intraday consolidation near the 1.3400 handle, as Pound Sterling traders gear up for the Bank of England’s (BoE) own interest rate decision, due early Thursday.The Federal Reserve (Fed) hit the mark on Wednesday and kept interest rates on hold, as most investors expected. Traders are still pricing in around 50 basis points in interest rate cuts through the end of 2025, and the Federal Open Market Committee (FOMC) generally seems to agree with that assessment. However, Fed Chair Jerome Powell warned that ongoing policy uncertainty will keep the Fed in a rate-hold stance, and any rate cuts will be contingent on further improvement in labor and inflation data.The Fed still sees an average of 50 basis points in interest rate cuts by the end of the year, following closely with what is priced in according to the CME's FedWatch Tool; however, ongoing trade policy uncertainty has pushed the spread of policymaker rate expectations wider, with some Fed personnel seeing higher year-end rates compared to the previous Summary of Economic Projections (SEP).According to the CME's FedWatch Tool, rate traders slightly increased their already-standing bets of a first rate cut in September. Odds of a follow-up cut in October also increased, but odds of a delay in a second rate trim until December are still on the cards.US President Donald Trump has gotten increasingly vocal about his wishlist to have the Fed start dropping interest rates, even as Fed policymakers hold in their “wait and see”, with officials bracing for economic fallout from Trump’s whipsaw tariff “strategy”. The BoE is likewise expected to hold rates steady at 4.25% on Thursday, but no meaningful shifts in policy stances, or complaints about them, are expected.GBP/USD price forecastCable’s early-week decline puts GBP/USD on pace to take a fresh bear run at the 50-day Exponential Moving Average (EMA) near 1.3350, but only if bearish momentum continues. GBP/USD has tended to fade bearish snaps through 2025, with the pair still finding technical support from a rising trendline drawn from January’s lows near 1.2100.GBP/USD daily chart
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.

.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}USD/CHF trades at 0.8180, up 0.08%, as Fed sticks to rate hold and eyes two 2025 cuts.Trump’s openness to Iran talks supports safe-haven Dollar demand despite geopolitical risk.Pair consolidates between 0.8038–0.8350; bulls eye 0.8233 and 0.8300 on breakout.The USD/CHF advances for the fourth straight day after the Federal Reserve’s (Fed) decision to hold rates unchanged, though they are still eyeing two rate cuts in 2025. This, along with US President Trump's remarks that he’s open to Iran talks, boosted the Dollar. At the time of writing, the pair trades at 0.8180, up 0.08%.USD/CHF Price Forecast: Technical outlookPrice action suggests that the USD/CHF downtrend remains in place, although since June 13, it appears to be consolidating within the 0.8038-0.8350 range in the near term. This is because the Relative Strength Index (RSI) turned flat at its 50-neutral line.If USD/CHF climbs past 0.82, buyers could test the 50-day SMA at 0.8233. If broken, expect a rally to 0.8300, which clears the path to test the May 29 daily peak of 0.8347, ahead of 0.84. The other scenario would be if the downtrend resumes, but sellers need to surpass the 0.8100 figure. A breach of the latter will expose the June 17 swing low of 0.8054, before testing the YTD low of 0.8038.USD/CHF Price Chart – Daily Swiss Franc PRICE This week The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies this week. Swiss Franc was the strongest against the British Pound. USD EUR GBP JPY CAD AUD NZD CHF USD 0.46% 1.02% 0.28% 0.76% -0.42% -0.23% 0.81% EUR -0.46% 0.44% -0.20% 0.31% -0.76% -0.67% 0.35% GBP -1.02% -0.44% -0.60% -0.13% -1.19% -1.11% -0.09% JPY -0.28% 0.20% 0.60% 0.48% -0.98% -0.84% 0.13% CAD -0.76% -0.31% 0.13% -0.48% -1.09% -0.98% 0.04% AUD 0.42% 0.76% 1.19% 0.98% 1.09% 0.08% 1.11% NZD 0.23% 0.67% 1.11% 0.84% 0.98% -0.08% 1.03% CHF -0.81% -0.35% 0.09% -0.13% -0.04% -1.11% -1.03% 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 Swiss Franc from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CHF (base)/USD (quote).

.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 Unemployment Rate is forecast to have held steady at 4.1% in May. Employment Change is expected to post a modest 25K advance after a 89K gain in April.The Australian Dollar should benefit from upbeat figures regardless of the market’s sentiment. The Australian Bureau of Statistics (ABS) will release the May monthly employment report at 01:30 GMT on Thursday. The country is expected to have added 25K new job positions, while the Unemployment Rate is projected to hold steady at 4.1%. Ahead of the announcement, the Australian Dollar (AUD) retains its overall strength, and the AUD/USD pair trades near the 2025 high at 0.6545.The Australian April employment report was upbeat, as the economy added 89K new job positions, including 59,5K full-time positions and 29,5K part-time ones. The ABS Employment Change separately reports full-time and part-time jobs. According to its definition, full-time jobs imply working 38 or more hours per week and usually include additional benefits, but they mostly represent consistent income. On the other hand, part-time employment generally offers higher hourly rates but lacks consistency and benefits. This is why full-time jobs are given more weight than part-time ones when it comes to measuring the health of the labour market.Australian Unemployment Rate seen steady in MayThe Australian Unemployment Rate is expected to have remained unchanged at 4.1% in May, marking a third consecutive month of stability. Employment data is relevant as it’s part of the Reserve Bank of Australia (RBA) mandate. The Monetary Policy Board sets the monetary policy “in a manner that it believes best contributes to both price stability and the maintenance of full employment in Australia.”The minutes of the May meeting showed policymakers’ concerns revolved around the United States (US) President Trump's tariffs, and “how a persistent increase in trade barriers would affect the global economy.”Regarding the labour market, the Board noted it had remained in line with the previous forecasts. “The unemployment rate had been around 4.1 per cent since the middle of 2024, while the underemployment rate had declined a little over that period. “Employment had recovered from the surprising fall recorded in February,” the document shows. Other than that, some policymakers questioned whether this might see wages growth slow more noticeably than currently forecast.Meanwhile, recent data showed that wage growth in the country has increased to 3.4% in the year to March, marking the first time wage growth has risen since the June quarter of 2024. Wages grew 0.9% on a quarterly basis in Q1 2025, up from the 0.7% posted in the previous quarter, according to the ABS.Generally speaking, the upcoming Australian employment report, if the outcome matches expectations, is expected to have a limited impact on the Australian Dollar (AUD), as it is unlikely to affect future RBA monetary policy decisions. The central bank is scheduled to meet again in July. Finally, financial markets may not pay much attention to data amid the ongoing Middle East crisis. The escalation of the Iran-Israel conflict and the involvement of the US maintain speculative interest in a risk-off mood. Additionally, the lack of progress in trade negotiations adds to the dismal sentiment. When will the Australian employment report be released and how could it affect AUD/USD?The ABS will publish the May employment report early on Thursday. As previously stated, Australia is expected to have added 25K new job positions in the month, while the Unemployment Rate is foreseen at 4.1%. Finally, the Participation Rate is expected to hold at 67.1%.A better-than-anticipated employment report will likely boost the AUD, even if the more significant increase comes from part-time jobs. However, the advance could be more sustainable if the increase comes from full-time positions. The opposite scenario is also valid, with soft figures weighing on the Australian currency. Valeria Bednarik, Chief Analyst at FXStreet, notes: “The AUD/USD pair trades near a recently achieved 2025 high at 0.6552, while posting higher highs on a weekly basis, keeping the dominant bullish trend alive. Given concerns about US economic progress within the trade war and its involvement in the Middle East crisis, the US Dollar (USD) seems poised to remain under pressure. In such a scenario, the AUD/USD pair may quickly find buyers should a discouraging employment report push it lower.”Bednarik adds: “An upbeat employment report, on the other hand, can push the AUD/USD pair towards fresh 2025 highs, with the 0.6600 threshold in sight." Employment FAQs How do employment levels affect currencies? Labor market conditions are a key element to assess the health of an economy and thus a key driver for currency valuation. High employment, or low unemployment, has positive implications for consumer spending and thus economic growth, boosting the value of the local currency. Moreover, a very tight labor market – a situation in which there is a shortage of workers to fill open positions – can also have implications on inflation levels and thus monetary policy as low labor supply and high demand leads to higher wages. Why is wage growth important? The pace at which salaries are growing in an economy is key for policymakers. High wage growth means that households have more money to spend, usually leading to price increases in consumer goods. In contrast to more volatile sources of inflation such as energy prices, wage growth is seen as a key component of underlying and persisting inflation as salary increases are unlikely to be undone. Central banks around the world pay close attention to wage growth data when deciding on monetary policy. How much do central banks care about employment? The weight that each central bank assigns to labor market conditions depends on its objectives. Some central banks explicitly have mandates related to the labor market beyond controlling inflation levels. The US Federal Reserve (Fed), for example, has the dual mandate of promoting maximum employment and stable prices. Meanwhile, the European Central Bank’s (ECB) sole mandate is to keep inflation under control. Still, and despite whatever mandates they have, labor market conditions are an important factor for policymakers given its significance as a gauge of the health of the economy and their direct relationship to inflation. RBA FAQs What is the Reserve Bank of Australia and how does it influence the Australian Dollar? The Reserve Bank of Australia (RBA) sets interest rates and manages monetary policy for Australia. Decisions are made by a board of governors at 11 meetings a year and ad hoc emergency meetings as required. The RBA’s primary mandate is to maintain price stability, which means an inflation rate of 2-3%, but also “..to contribute to the stability of the currency, full employment, and the economic prosperity and welfare of the Australian people.” Its main tool for achieving this is by raising or lowering interest rates. Relatively high interest rates will strengthen the Australian Dollar (AUD) and vice versa. Other RBA tools include quantitative easing and tightening. How does inflation data impact the value of the Australian Dollar? While inflation had always traditionally been thought of as a negative factor for currencies since it lowers the value of money in general, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Moderately higher inflation now tends to lead central banks to put up their interest rates, which in turn has the effect of attracting more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in the case of Australia is the Aussie Dollar. How does economic data influence the value of the Australian Dollar? Macroeconomic data gauges the health of an economy and can have an impact on the value of its currency. Investors prefer to invest their capital in economies that are safe and growing rather than precarious and shrinking. Greater capital inflows increase the aggregate demand and value of the domestic currency. Classic indicators, such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can influence AUD. A strong economy may encourage the Reserve Bank of Australia to put up interest rates, also supporting AUD. What is Quantitative Easing (QE) and how does it affect the Australian Dollar? Quantitative Easing (QE) is a tool used in extreme situations when lowering interest rates is not enough to restore the flow of credit in the economy. QE is the process by which the Reserve Bank of Australia (RBA) prints Australian Dollars (AUD) for the purpose of buying assets – usually government or corporate bonds – from financial institutions, thereby providing them with much-needed liquidity. QE usually results in a weaker AUD. What is Quantitative tightening (QT) and how does it affect the Australian Dollar? Quantitative tightening (QT) is the reverse of QE. It is undertaken after QE when an economic recovery is underway and inflation starts rising. Whilst in QE the Reserve Bank of Australia (RBA) purchases government and corporate bonds from financial institutions to provide them with liquidity, in QT the RBA stops buying more assets, and stops reinvesting the principal maturing on the bonds it already holds. It would be positive (or bullish) for the Australian Dollar.