Forex News

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sides have declared that the memorandum of understanding they signed in June, to extend a ceasefire and hold talks, is no longer in force, although both have indicated a readiness to pursue ...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. ...

Gold prices fell on Thursday as the escalating Middle East conflict showed no signs of abating, erasing recent optimism over easing inflation and fuelling concerns that surging oil prices could lead to interest rate hikes. Spot gold was down 0.6% at $4,034.42 per ounce by 0349 GMT. US gold futures for August delivery lost 0.3% to $4,039.90. “Gold is ...

In the three months to May 2026, compared with the three months to February 2026: Real gross domestic product (GDP) grew by 0.7%, following a growth of 0.8% in the three months to April 2026 (revised up from a growth of 0.7% in our previous publication) and an unrevised growth of 0.6% in the three months to March 2026. Services output grew by 0.7%, after ...

Production output was estimated to have increased by 0.1% during the three months to May 2026, compared with the three months to February 2026; this is the sixth consecutive rise in three-monthly growth since November 2025 (down 0.5%). Of the four main sectors, the only positive contribution came from "manufacturing" (up 1.6%), in the three months to May ...

Services output in the three months to May 2026 was estimated to have increased by 0.7% compared with the three months to February 2026; this follows 0.9% growth in the three months to April 2026. 12 of the 14 sectors saw a rise in the three months to May 2026, with the main positive contributing sectors being "information and communication" (up 2.5%), and ...

The value of goods imports increased by £0.5 billion (0.8%) in May 2026; a rise in imports from non-EU countries was partially offset by a fall in imports from the EU. The value of goods exports rose by £1.5 billion (4.5%) in May 2026, with increases in exports to both EU and non-EU countries. The total goods and services trade deficit widened by £4.4 ...