Forex News
The US Dollar Index (DXY) lost ground during the week, down 0.27% to trade near the 99.80 level as investors prepared for a heavy central bank calendar the following week.
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 Swiss Franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.07% | 0.07% | 0.14% | 0.11% | 0.00% | 0.07% | 0.26% | |
| EUR | -0.07% | -0.01% | 0.09% | 0.05% | -0.07% | -0.01% | 0.18% | |
| GBP | -0.07% | 0.00% | 0.11% | 0.05% | -0.09% | 0.00% | 0.17% | |
| JPY | -0.14% | -0.09% | -0.11% | -0.06% | -0.17% | -0.10% | 0.06% | |
| CAD | -0.11% | -0.05% | -0.05% | 0.06% | -0.11% | -0.05% | 0.13% | |
| AUD | -0.00% | 0.07% | 0.09% | 0.17% | 0.11% | 0.06% | 0.21% | |
| NZD | -0.07% | 0.01% | -0.00% | 0.10% | 0.05% | -0.06% | 0.17% | |
| CHF | -0.26% | -0.18% | -0.17% | -0.06% | -0.13% | -0.21% | -0.17% |
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).
EUR/USD remained pressured but ended the week up 0.4% near the 1.1570 level. In the Eurozone next week, investors will monitor Industrial Production, final HICP inflation, and Producer Price Index (PPI) data for fresh clues on growth and price pressure. Germany will be in focus with the ZEW Survey, which will compile readings on current conditions and economic sentiment.
GBP/USD gained ground during the week, up 0.49% near the 1.3400 level. The pair will be driven next week by a busy United Kingdom (UK) calendar and the Bank of England (BoE) interest rate decision. The central bank is expected to keep rates unchanged, but the vote split will be key for the Pound Sterling.
UK CPI, PPI, wage growth, employment data, jobless claims, consumer confidence, and Retail Sales will also be released, providing markets with a broader picture of inflation, labor market conditions, and consumer demand.
USD/JPY ended the week near 160.20 level during the week, keeping intervention risks in focus ahead of the Bank of Japan (BoJ) decision. The BoJ is expected to deliver a key policy update, while traders will also monitor the press conference, Japan trade data, National CPI, and the BoJ Monetary Policy Meeting Minutes for signals on the next policy steps.
AUD/USD traded neutral for the week, closing near the 0.7050 level on Friday. Traders of the pair will next focus on the Royal Bank of Australia (RBA) interest rate decision, policy statement, and press conference. The RBA is expected to keep rates unchanged, but its language on inflation and future policy could drive the Australian Dollar.
West Texas Intermediate (WTI) Oil trades near the $84.30 per barrel, as US President Donald Trump's decision on Thursday not to go through with bombing Iran led to a sell-off on Friday. Looking ahead, crude prices could remain sensitive to any fresh headlines on the potential Iran deal, shipping activity through the Strait, and broader risk sentiment.
Gold stayed near the $4,215, supported by safe-haven demand as investors monitored Middle East tensions and prepared for next week’s Fed decision. The precious metal could remain volatile, with a hawkish Fed tone likely to pressure Bullion, while geopolitical uncertainty may continue to limit the downside.
Anticipating economic perspectives: Voices on the horizon
Monday, June 15:
- ECB’s Nagel
- ECB President Lagarde
- ECB’s Cipollone
Tuesday, June 16:
- RBA Press Conference
- BoJ Press Conference
- ECB’s Lane
- ECB’s Sleijpen
Wednesday, June 17:
- ECB’s Cipollone
- ECB’s Sleijpen
- FOMC Press Conference
Thursday, June 18:
- ECB’s Nagel
- ECB’s Elderson
- ECB’s Cipollone
- ECB’s Lane
Friday, June 19:
- ECB’s Lane
- ECB’s Cipollone
- ECB’s Elderson
WTI Oil FAQs
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.
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.
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.
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.
Societe Generale highlights that South Korean authorities have launched a multi-pronged FX stabilisation package to address short-term USD funding stress and speculative pressures on the Korean Won. Measures include a temporary FX stability levy exemption, enhanced interest on excess FX deposits, and tighter oversight of major FX banks. Officials are also urging exporters to accelerate FX conversion and repatriate offshore funds.
BoK and government intensify Won support
"The BoK rolled out multi-pronged FX stabilisation package after emergency meeting with the MoF and FSS, targeting short-term USD funding stress and speculative pressures."
"Key measures include a 6-month exemption of the FX stability levy for banks and extension of interest payments on excess FX deposits (linked to the Fed rate) to boost USD liquidity."
"Authorities also escalated oversight via joint inspections of major FX banks and tighter monitoring, signalling a shift from verbal warnings to active enforcement to curb destabilising trades and anchor KRW expectations."
"South Korean Vice Finance Minister Huh Chang urged export firms incl Samsung Electronics and SK Hynix to support FX market stability by boosting FX supply via quicker conversion of export proceeds into KRW and repatriation of offshore funds."
"BoK governor Shin Hyun-song said interest rate would be raised ‘on time’, leaving door open for rate hike ahead of next MPC meeting due 16th July."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
A senior administration official said on Friday that the Iran deal will guarantee long-term peace in the region. The agreement would achieve core US objectives and reopen the Strait of Hormuz. The official said that the US would get enriched nuclear material and include an inspection regime.
Key highlights:
SENIOR ADMINISTRATION OFFICIAL: IRAN DEAL ACCOMPLISHES CORE U.S. OBJECTIVES
IRAN DEAL REOPENS STRAIT OF HORMUZ - OFFICIAL
U.S. TO GET ENRICHED MATERIAL UNDER IRAN DEAL
IRAN DEAL GUARANTEES LONG-TERM PEACE IN REGION
IRAN DEAL INCLUDES INSPECTION REGIME
IF IRAN COMPLIES WILL BE REWARDED ECONOMICALLY
BENEFITS FOR IRAN ACCRUE IF THEY ACTUALLY DELIVER
U.S. EXPECTS TO SIGN AGREEMENT OVER NEXT FEW DAYS
DRAFT AGREEMENT ALSO LIFTS U.S. BLOCKADE AND LEADS TO DISMANTLEMENT OF IRAN NUCLEAR PROGRAM
IRANIANS DON'T GET ANYTHING UPON SIGNING AGREEMENT
NOT QUITE AT FINISH LINE YET BUT VERY CLOSE
IRAN DEAL IS SPECIFIC ABOUT OPENING STRAIT AND LIFTING OF BLOCKADE AND MOVING OF ENRICHED MATERIAL
THE MORE IRANIANS PERFORM, THE MORE THEY CAN GET
THERE WILL BE SIGNIFICANT SANCTIONS RELIEF BASED ON HOW IRAN PERFORMS
U.S. HAS SEEN SUBSTANTIAL PROGRESS IN TEXT OF AGREEMENT
AGREEMENT REACHED ON SPECIFICITY OVER DESTRUCTION AND REMOVAL OF ENRICHED MATERIAL
REGIONAL PEACE AGREEMENT IS BROAD
CONFIDENT ISRAELIS WILL GET ON BOARD
SOME IRANIANS DON'T LOVE THIS DEAL
WE THINK THAT DISSENT IS QUITE MINIMAL
THERE'S JUST A LOT OF MISTRUST
WHEN ISRAEL SEES FULL TERMS OF DEAL THEY WILL BE COMFORTABLE WITH THAT
DEAL IS A FIRST AND IMPORTANT STEP TOWARD ENSURING IRANIANS DO NOT GET A NUCLEAR WEAPON
WE HAVE A TEXT IN PLACE THAT IRAN AND U.S. BOTH LIKE
IRAN IS COMMITTING TO NEVER DEVELOPING A NUCLEAR WEAPON
U.S. WILL HAVE TO FIGURE OUT HOW TO ENFORCE THAT
WE ENVISION 60-DAY TECHNICAL NEGOTIATION
IRAN'S SUPREME LEADER IS REPORTEDLY COMFORTABLE WITH WHERE WE ARE IN NEGOTIATIONS
EUROPE HAS BEEN DISCUSSED AS SITE FOR SIGNING BUT NO DECISION YET
U.S., IRAN SET UP A PROCESS TO BUILD TRUST, BRING AGREEMENT TO A CLOSE
Risk sentiment FAQs
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.
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.
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.
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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