Forex News

WH Press Sec. Leavitt: Iran continues to talk to the US and wants to make a deal; recent strikes are due to Iran violating the MOU.

Fed's Schmid: Inflation is too hot and above target for too long. The Federal Reserve, Economic Outlook and Monetary Policy It is an honor to join you today. It is great to be back in Nebraska, my home state, and I look forward to our discussion. Just two weeks ago we marked our 250th birthday as a nation. And while we, as a country, might feel young in comparison to some other nations, the truth is that throughout history there are not many institutions or governments that have endured for as long. What is it that has made the United States so successful? One important element is the federated structure of the United States. Distributed power and decision-making across federal, state, and local governments connects Americans more closely within their communities and their government. It allows for a diversity of views and experimentation in how society should be governed. America has always had a healthy skepticism towards centralization and the concentration of power that has served us well over time.

Good morning. Thank you, Daron [Peschel], for that kind introduction. And welcome, everyone, to the Dallas Fed’s Houston branch. I’m looking forward to my conversation with Dr. Margaret Ford Fisher, chancellor of Houston City College, in just a few minutes. As I travel through the Dallas Fed’s district, I talk extensively with workers, bankers, business executives and community leaders, just as we’re doing here today. These dialogues matter for two reasons. First, they provide nuanced, up-to-date information. I’m grateful to everyone who takes time to talk. Your perspectives help me learn how people are experiencing the economy. You teach me how national policy decisions reverberate here in Texas. And you show me what trends are on the horizon. Aggregate macroeconomic statistics can be highly informative, but there’s no substitute for on-the-ground insight. Second, public dialogue lets you hold me accountable for serving you well. The Fed is an independent central bank. Independence means monetary policy decisions focus on the long term. We are still accountable to the American people. The Fed reports regularly to Congress. Community leaders on the board of directors at each Federal Reserve Bank select and evaluate its management. And in conversations like this one, you get to tell us how we’re doing. Through all those engagements, we expect and need the public to hold us to account for fulfilling the important mission you’ve trusted us with. The Federal Open Market Committee (FOMC) sets monetary policy to achieve two goals: maximum employment and stable prices. Congress assigned us those goals. We pursue both with vigor and focus. Everyone who wants to find work should be able to do so. Households and businesses should be able to count on low inflation so they can make ends meet today and plan for a prosperous future. In the long run, the FOMC’s two goals are complementary. They work in concert to support a strong and growing American economy. Today, I’d like to tell you why I currently believe modestly higher interest rates would better balance the outlook and risks for the FOMC’s dual mandate goals. These are my views and, let me emphasize, not necessarily those of my FOMC colleagues. The FOMC targets a 2 percent inflation rate as measured by the price inde Fed's Logan: Modestly higher interest rates would better balance outlook, risks. Fed's Logan: One month of lower CPI inflation is not enough. Fed's Logan: Downside risks to employment have faded, inflation risks are mainly to the upside.

Sturdy retail sales in the second quarter suggest consumers largely shrugged off higher fuel costs. Sales rose an expected 0.2% in June following an upwardly revised increase of 1.0% in May. Sales were mixed across outlets, with autos driving the gain. A pullback in fuel prices dragged down service stations receipts. The control measure of sales that ...

While USD bulls came back to life from mid-April through last month, GBP/USD has held up relatively well. The pair did test a fresh low in late-June but support held at a key Fibonacci level of 1.3143, and that’s where the music stopped for sellers and since then a strong bullish reversal has taken over that’s seen Cable rip for more than 400 pips into ...

The US and Iran are locked in an escalating cycle of attacks, after the fifth consecutive day of US strikes and Iranian retaliation against Gulf nations and Jordan. Both sides have declared that the memorandum of understanding they signed in June, to extend a ceasefire and hold talks, is no longer in force, although both have indicated a readiness to pursue ...

Just weeks ago, the 23 July ECB meeting looked like a formality — the last stop before summer break, the one meeting no one would have missed had it been cancelled at the last minute. However, the new escalation in the Middle East and the renewed rise in energy prices have changed the picture once again. Instead of gradually transitioning into summer ...

*US STRUCK AREAS NEAR IRAN'S QESHM ISLAND: MEHR

Working natural gas in storage across the United States increased by 43 billion cubic feet (Bcf) in the week ending July 10, compared to the previous seven-day period, to reach 3,024 Bcf, the Energy Information Administration (EIA) revealed in its report on Thursday. On an annual basis, the natural gas stockpiles dipped by 21 billion cubic feet. Meanwhile, ...

June US retail sales matched market expectations, rising 0.2% month-on-month at the headline level with the control group, which excludes volatile items (gasoline, food service, autos, building materials), and better tracks broader consumer spending trends, rising 0.5% MoM. Remember these are dollar value figures and lower gasoline prices meant gasoline ...

Business inventories in the United States increased by 0.3% in May compared to the month before, and reached $2,736.2 billion, the US Census Bureau revealed in its report on Thursday. On an annual basis, the figure rose by 3.1%. The combined value of trade sales and manufacturers' shipments landed at $2,135.0 billion in the reported month, climbing by 2.1% ...

Pending home sales in June decreased by 5.4% month-over-month and 0.3% year-over-year, according to the National Association of REALTORS® Pending Home Sales report. The report provides the real estate ecosystem—including agents, homebuyers and sellers—with data on the level of home sales under contract. Month-over-month pending home sales declined in all ...

Economic uncertainty and persistent affordability challenges driven by rising material prices, high land costs, and elevated mortgage rates continue to weigh on builder sentiment. Builder confidence in the market for newly built single-family homes fell two points to 34 in July, down from an upwardly revised reading of 36 in June, according to the National ...

The report says that a possibility that is being discussed within Iran's leadership now is potentially to ask Yemen's Houthi movement to be on standby and ready to close the Red Sea oil route, that is if the US decides to strike Iran's power network next. The sources mention that the Houthis had recently been informed of the request. Adding that the group ...

China is actively shifting RMB from one used for trade to a global investment and financing currency. The Panda (CNY bonds issued by foreign entities within China) and Dim Sum (CNH bonds issued in Hong Kong) bond markets are the core pillars of this strategy, creating the necessary ecosystem for the RMB’s international expansion. The onshore Panda bond ...

Retail and food services sales in the United States advanced by 0.2% in June compared to last month's figures, landing at $768.6 billion, the US Census Bureau revealed in its report published on Thursday. Meanwhile, compared to the corresponding month in 2025, the figure went up 6.7%. Total sales for the period April 2026 through June 2026 were up by 6.4% ...

Manufacturing activity in the region continued to expand overall, according to the firms responding to the July Manufacturing Business Outlook Survey. The survey’s indicators for general activity and new orders both rose this month — to nearly five-year highs — and the shipments index also increased. The employment index was positive for a second ...

In the week ending July 11, the advance figure for seasonally adjusted initial claims was 208,000, a decrease of 8,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 215,000 to 216,000. The 4-week moving average was 214,250, a decrease of 4,750 from the previous week's revised average. The previous week's ...

The six-month trend in housing starts was down in June compared to May, with a decrease of 2.8% to 248,123 units, according to Canada Mortgage and Housing Corporation (CMHC). The trend measure is a six-month moving average of the seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada. Actual monthly housing starts were down ...

Iran Tells Yemen's Houthis To Close Bab El-Mandeb Gateway To The Red Sea If US Hits Power Network – RTRS Cites Sources *(IR) FOLLOW-UP: IRAN TELLS YEMEN'S HOUTHIS TO CLOSE BAB EL-MANDEB GATEWAY TO THE RED SEA IF U.S. HITS POWER NETWORK - PRESS **TTN Note: A closure or major disruption of the Bab el-Mandeb Strait would directly threaten Saudi Aramco's Yanbu Red Sea exports, which have reached… *(IR) Representatives of Iran's Islamic Revolutionary Guard Corps (IRGC) who are already in Yemen will control the decision on when to close the Bab el-Mandeb strait - press (More at ) IRAN OPENS A SECOND ENERGY FRONT AS HORMUZ CLOSURE THREATENS RED SEA TRADE Reuters reports Iran is signaling that Yemen’s Houthis could close the Bab el-Mandeb Strait if U.S. attacks continue. Hormuz is already shut, placing two major oil routes under pressure. The hit… pic.twitter.com/9TnTjFWSdJ

There seems to be a nervous calm in the foreign exchange market. The US dollar is mostly in narrow ranges around little changed levels. The euro, for example, is in about a 15-tick range and the greenback is confined to less than a quarter of a yen range. Despite the slightly stronger than expected May UK GDP (0.1%) sterling is among the heaviest of the G10 ...

Iran warned Thursday that it would “crush” key targets in the Middle East if U.S. President Donald Trump’s threats to target the country’s infrastructure in the coming days are carried out. Trump said in a Tuesday evening interview with Fox News that U.S. forces would target key Iranian infrastructure next week if a diplomatic breakthrough is not achieved. ...

2/ TSUNAMI ADVISORY: The NEMA has issued an official tsunami warning for coastal areas of New Zealand following the severe M6.3 Fiordland earthquake. Strong and unusual currents or unpredictable surges are expected. Sismo - Tsunami warning - Fiordland pic.twitter.com/KjdbfOphuR

KREMLIN: FOR NOW, THERE ARE NO IMMEDIATE PROSPECTS FOR RESUMING PEACE TALKS BUT RUSSIA REMAINS OPEN TO IT

The GBP/USD exchange rate held steady, reaching its highest level since May 12 this year as the US dollar weakness continued after the recent US inflation report. It jumped to 1.3535, up by 3% from its lowest level since June 24. Sterling Gains Ahead of Andy Burnham Premiership The GBP/USD pair jumped as investors waited for the upcoming transition in the ...

In May 2026, seasonally adjusted data, there was a modest increase in exports (+0.2%) and a rise in imports (+1.5%) compared with April 2026. Exports decreased for EU countries (-0.4%), whilst increased for non-EU countries (+0.8%). Imports decreased by -0.2% for EU area, whilst rose by +3.5% for non-EU area. Over the last quarter, compared with the ...

The first estimates of euro area balance showed a €7.8 bn deficit in trade in goods with the rest of the world in May 2026, compared with a surplus of €15.0 bn in May 2025. The euro area exports of goods to the rest of the world in May 2026 were €243.6 billion, an increase of 0.1% compared with May 2025 (€243.5 bn). Imports from the rest of the world stood ...

Philippe Aghion is an expert in creative destruction. That's the term economists use when innovations disrupt whole industries and create new ones. Think steam engine, assembly line production and the IT revolution. Or now, artificial intelligence (AI). For his groundbreaking research on how technological innovation can drive long-term economic growth, ...

BOE BREEDEN: IRAN WAR SHOCK IS LESS LIKELY TO BECOME EMBEDDED AND LEAD TO INFLATIONARY DYNAMICS THAT WE MIGHT NEED TO LEAN AGAINST - BBG

At the monetary policy assessment of 16 and 17 June 2026, the Governing Board of the Swiss National Bank decided to leave the SNB policy rate unchanged at 0%. The SNB communicated its monetary policy decision to the public on 18 June 2026. The decision was preceded by an analysis and discussion of the monetary policy conditions and the economic conditions. ...