Forex News

Key Facts: All movements are in seasonally adjusted chain-volume terms (adjusted for price inflation) unless otherwise stated. In the March 2026 quarter, compared with the December 2025 quarter: • GDP rose 0.8 percent • expenditure on GDP rose 1.0 percent • GDP per capita rose 0.5 percent • real gross national disposable income rose 0.6 percent. The ...

Most brokerage executives discussing Formula One sponsorships focus on branding, visibility, and customer engagement. Pepperstone Group CEO Tamas Szabo used the topic to make a much broader prediction about the future of business itself. According to Szabo, artificial intelligence is moving toward a future where machines create first and humans refine ...

IRAN'S BAGHAEI: U.S. IS COMMITTED TO REMOVE ALL OBSTACLES WHEN IT COMES TO IRAN'S ACCESS TO ITS FROZEN FUNDS IRAN'S BAGHAEI: IN THE 60 DAYS THE OTHER PARTY SHOULD NOT INCREASE MILITARY PRESENCE IN REGION OR ISSUE NEW SANCTIONS Just in | Iran's Baghaei: Israeli Attacks on Lebanon Violate Commitment Iran confirming terms: *IRAN: US MUST NOT BOOST TROOPS OR ADD SANCTIONS IN 60 DAYS

The Federal Reserve and Chairman Kevin Warsh on Wednesday followed the script on interest rates closely, voting to keep the benchmark level steady, but dropped several surprises that kept markets guessing about where things are heading. Markets didn’t like it, with major averages swooning after the meeting and as Warsh spoke in his news conference. Here are ...

British inflation unexpectedly held at 2.8% for May, unchanged from the 13-month low reached in April, official figures showed on Wednesday, a day before the Bank of England will announce its next interest rate decision. Sterling weakened a little against the U.S. dollar after the data and investors slightly trimmed their expectations for a rate rise later ...

BREAKING: U.S. and Iran have signed the MOU for ending the war electronically on Wednesday and it is now in effect, two U.S. officials told me President Trump personally signed a copy of the agreement during a dinner with the President of France at the Palace of Versailles. A phot of the signed agreement was sent to the Iranians and the mediating countries

Rising energy prices have pushed inflation higher across much of the world, but Switzerland has been largely shielded from this trend. Headline inflation stood at 0.6% year-on-year in May, unchanged from April. Energy prices have, of course, increased in Switzerland (+17.7% year-on-year for petroleum products) as they have elsewhere. Still, the strength of ...

Iran's Top Negotiator Qalibaf: Iran will naturally charge for services in the Strait of Hormuz - Iranian State Media. IRAN'S QALIBAF SAYS ENEMIES' ACTIONS HAVE TURNED IRAN'S HORMUZ POTENTIAL INTO REALITY, ASSERTING IRAN HAS SOVEREIGN RIGHTS IN THE STRAIT AND WILL CHARGE FEES FOR SERVICES PROVIDED. - SOURCES

23 June will mark the tenth anniversary of the Brexit referendum, which led to the UK’s official exit from the European Union on 31 January 2020 (followed by a transition period). Since then, the country has indeed regained control over certain policy domains, such as trade, migration and regulatory frameworks. However, both the anticipation of Brexit and ...

The Federal Reserve's latest "dot plot," outlining policymakers' interest rate projections, revealed a sharp shift in central bankers' expectations. Not only are rate cuts almost surely off the table for the rest of the year, but there is also a sharply higher chance of a hike before the end of 2026. Nine policymakers who participated in the exercise ...

TRUMP: IRAN DEAL WILL BE SIGNED OVER NEXT 48 HOURS TRUMP: WILL LEAVE U.S. MILITARY IN GULF 'FOR A WHILE' *TRUMP: NUCLEAR DUST LESS IMPORTANT THAN NONPROLIFERATION *TRUMP SPEAKS TO REPORTERS IN FRANCE

*TRUMP ON FED: ALRIGHT THAT THEY HELD RATES, WHATEVER *TRUMP ON FED RAISING RATES POSSIBLY: IT COULD HAPPEN

Fed's Chair Warsh: I don't believe we have a cruel choice between full employment and stable prices. FED'S WARSH SAYS MORE WORK IS NEEDED ON PRICE STABILITY BUT ALL 19 FOMC MEMBERS AGREED NO TIGHTENING WAS NEEDED TODAY. Fed's Chair Warsh: My read of what I heard in the room, reflected in projections, was that half of colleagues felt rates should be lower and half should be higher. Fed's Chair Warsh: A new communication framework by the year-end wouldn't surprise.

Fed's Chair Warsh: Fed can't have a significant effect on particular prices FED'S WARSH WARNS FED MUST ENSURE PRICE MOVES IN OIL, EGGS AND BEEF DO NOT BROADEN INTO WIDER ECONOMIC INFLATION. WARSH DECLINES TO COMMENT ON ANY INTERACTIONS WITH TRUMP SINCE CONFIRMATION Fed's Chair Warsh: The committee discussed productivity today, AI came up. AI is filled with a huge opportunity and risks. *WARSH: I DO SEE SOME RESTRICTIVENESS IN THINGS LIKE HOUSING *WARSH: HARD TO USE THOSE SAME WORDS ANYWHERE ELSE

Fed's Chair Warsh: There is one proposal on the table, very little discussion on it, and no discussion of any other proposals. We had a good family fight on it. Fed's Chair Warsh on Task Forces: We are not outsourcing decisions. Task forces will make recommendations. Fed's Chair Warsh: I am not going to offer commentary on market reaction today. We've given markets a new chapter for the Central Bank.

Warsh: "We've missed on inflation for five years and we're going to fix that" pic.twitter.com/zZXk0NN5zp Fed's Chair Warsh: Most data we consume have old-fashioned survey methods. Fed's Chair Warsh: I would be open-minded if the Fed data task force had recommendations on how to improve official statistics. Private companies are working with real-time information. Fed's Chair Warsh: I am open-minded, there are new analytic techniques, new private sector data, and reforms for official sector data. Fed's Chair Warsh: Markets perform best when reacting to incoming data. Financial markets act less efficiently when they are worried about how the Fed will react to the data.

Fed's Chair Warsh: Policymakers don't feel bound by their dots. I did not hear tons of conviction on the projection submissions. Fed's Chair Warsh: I expect by year-end there will be a broad review of communications, press conferences, dots, and meetings. Fed's Chair Warsh: For me, submitting a dot is not helpful in the conduct of policy. Fed's Chair Warsh asked about the future of press conferences: They can be a very useful way of communicating, but I want to have something important to say for pressers.

Warsh Q&A: I see no reason to revisit 2% inflation goal until we have delivered Fed's Chair Warsh: We have the capability and the commitment to deliver 2% inflation. WARSH: 'I CAN'T GIVE YOU ANY GUIDANCE ON WHAT WE'RE GOING TO DO NEXT' WARSH: FED POLICY APPEARS TO BE RESTRICTIVE VIS A VIS HOUSING MARKET, BUT NOT FINANCIAL MARKETS

Fed's Chair Warsh: I am appointing a task force in 5 areas. 1. Fed Communications 2. Fed's Balance Sheet 3. Use and reliance on existing data sources 4. Productivity and jobs 5. Fed's inflation frameworks Fed's Chair Warsh: Each independent task force will have the best minds inside and outside the economics profession. Fed's Chair Warsh: I expect to propose changes, including to the summary of projections. Fed's Chair Warsh: The task force on inflation frameworks will examine drivers of inflation.

WARSH: INFLATION WELL AHEAD OF 2% GOAL WARSH: PERSISTENTLY HIGH PRICES A BURDEN Fed's Chair Warsh: The recent past need not be a prologue to inflation. Fed's Chair Warsh: Today's policy statement was shorter and simpler. The statement dispenses with older language. *WARSH: I REFRAINED FROM SUBMITTING PROJECTIONS OF MY OWN

The Federal Reserve System is the central bank of the United States. It performs five general functions to promote the effective operation of the U.S. economy and, more generally, the public interest. The Federal Reserve conducts the nation’s monetary policy to promote maximum employment, stable prices, and moderate long-term interest rates in the U.S. ...

In conjunction with the Federal Open Market Committee (FOMC) meeting held on June 16–17, 2026, meeting participants submitted their projections of the most likely outcomes for real gross domestic product (GDP) growth, the unemployment rate, and inflation for each year from 2026 to 2028 and over the longer run. Each participant’s projections were based on information available at the time of the meeting, together with her or his assessment of appropriate monetary policy—including a path for the federal funds rate and its longer-run value—and assumptions about other factors likely to affect economic outcomes. The longer-run projections represent each participant’s assessment of the value to which each variable would be expected to converge, over time, under appropriate monetary policy and in the absence of further shocks to the economy. “Appropriate monetary policy” is defined as the future path of policy that each participant deems most likely to foster outcomes for economic activity and inflation that best satisfy his or her individual interpretation of the statutory mandate to promote maximum employment and price stability *FED: NINE OF 18 FOMC PARTICIPANTS PENCIL IN 2026 RATE HIKE Hawkish dots, and Warsh - as some speculated - did not even submit a dot pic.twitter.com/YKTDn97EgF THE UPDATED DOT PLOT IMPLIES ONE 25-BASIS-POINT RATE HIKE IN 2026, FOLLOWED BY 25-BASIS-POINT RATE CUTS IN BOTH 2027 AND 2028, WHILE GDP GROWTH IS EXPECTED TO SLOW MODESTLY TO 2.2% IN 2026 AND UNEMPLOYMENT IS SEEN AT 4.3%. Fed SEP: Growth Lower, Inflation Higher, Rates Higher for Longer

The Federal Open Market Committee approved the following statement for release by a 12 – 0 vote: The Committee decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 percent, in support of the Federal Reserve’s dual mandate. The Committee reaffirmed its policy of maintaining ample reserves in the banking system. Economic activity is expanding at a solid pace despite elevated uncertainty that owes, in part, to the conflict in the Middle East. Productivity growth and capital investment are strong. Job gains have kept pace with the workforce, and the unemployment rate has changed little. Inflation remains elevated relative to the Committee’s 2 percent goal, in part reflecting supply shocks that have driven price inc *FED REMOVES STATEMENT REFERENCE TO ADDITIONAL RATE ADJUSTMENTS The fed vote in favor of the policy was unanimous. FOMC STATEMENT COMPARE pic.twitter.com/LUGhyDzTRt Fed holds rates steady, pares down statement to remove cutting bias Kevin Warsh’s first meeting as Federal Reserve chairman concluded Wednesday with no change in interest rates, the removal of key language indicating a bias toward future cuts, and a dramatically shorter policy statement. The Federal Open Market Committee voted unanimously to keep its benchmark overnight borrowing rate anchored in a range of 3.5%-3.75%. The federal funds rate has held there since the central bank lowered rates by three-quarters of a percentage point in the latter part of 2025. With a bevy intrigue over Warsh taking the central bank helm, the meeting followed the same pattern as the others this year regarding rates but differed otherwise. Fed officials, through their closely watched “dot plot” grid, removed their prior outlook for a rate cut this year and indicated that a hike is possible though not certain. However, the projections were missing the participation of one member, with Fed watchers suspecting that Warsh would not be submitting his outlook. A note attached to the projection materials indicated that 18 of the 19 meeting participants submitted rate and economic projections.

Iran's Foreign Ministry Spokesperson on the Strait of Hormuz: It has been agreed to return maritime traffic to normal in a certain period of time - State Media

Consumers showed their resilience yet again last month. U.S. retail sales growth jumped a better than expected 0.9% in May following a downwardly revised 0.4% advance in April. Higher goods and energy prices are definitely boosting the sales gains, but consumers in aggregate continue to meet the challenge and grow their real inflation-adjusted spending. The ...

The Federal Reserve is expected to hold interest rates steady on Wednesday at the end of the first meeting chaired by Kevin Warsh, with a new policy statement and economic projections likely to reflect growing concern about the inflation stoked by the Iran war even as oil prices slide on peace deal hopes. With recent data showing strong U.S. hiring, a ...

*TRUMP REITERATES IRAN DEAL WILL OPEN HORMUZ TRUMP: I THINK IRANIAN LEADERS WILL BEHAVE MUCH DIFFERENTLY Trump: Iran deal will be signed shortly. Could be signed tomorrow or next day. TRUMP: IF THEY DON'T HONOR THE AGREEMENT, WE'LL PROBABLY GO BACK TO BOMBING THEM UNTIL THEY HONOR IT

Watch live as U.S. President Donald Trump speaks to the media at the end of the G7 summit in Evian-les-Bains, France.

U.S. and Iran discuss moving up signing of deal, sources say The US, Iran, and the mediators are discussing holding the signing of the memorandum of understanding, currently scheduled for Friday, as early as Wednesday, according to a diplomat from one of the mediating countries and a second source familiar with the discussions - Axios MOU WOULD BE SIGNED ELECTRONICALLY, US TO RELEASE TEXT - AXIOS MOU ACCELERATED SIGNING WOULD AIM TO OPEN HORMUZ SOONER - AXIOS

This morning has opened with some better than expected news from the Office for National Statistics or ONS UK inflation figures. The Consumer Prices Index (CPI) rose by 2.8% in the 12 months to May 2026, unchanged from the 12 months to April. So the same rate of annual inflation as last month and in the circumstances the monthly rise was relatively benign. ...