Forex News

Vice President JD Vance jetted to Switzerland on Saturday, aiming to discuss a peace deal with Iran as tensions continue to boil over the Strait of Hormuz. His high-stakes mission follows a volatile week of interrupted negotiations and a 60-day ultimatum from President Trump, who has threatened to levy tolls on the critical waterway if a deal is not ...

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The US and Iran issued conflicting accounts of conditions in the strait of Hormuz on 20 June, with Tehran saying it has closed the waterway, while Washington said commercial shipping continues to transit. Iran's claim — carried by the IRGC-affiliated Tasnim news agency and citing the Khatam al-Anbia Central Headquarters — said the strait had been closed to ...

Britain's Observer newspaper said British Prime Minister Keir Starmer was expected to resign on Monday and set out a timetable for his departure, though a government source said Starmer remained focused on getting on with the job of governing. The threat to Starmer's position, which has been building for months, increased sharply on Friday when his rival ...

The Federal Reserve has for decades moved steadily from a remote, opaque government agency that shared little about what it did or why to a more transparent institution willing to explain how it makes decisions and what it thinks about the economy. But in his first press conference Wednesday, new chair Kevin Warsh began to reverse some of those steps. ...

President Donald Trump on Saturday lashed out at Italian Prime Minister Giorgia Meloni, insisting that she asked “over and over” for a photo with him at the recent Group of Seven summit and criticizing what he said was Italy’s lack of cooperation during the Iran war. The remarks deepen the spat that began this week with the Republican president’s interview ...

The Federal Reserve has for decades moved steadily from a remote, opaque government agency that shared little about what it did or why to a more transparent institution willing to explain how it makes decisions and what it thinks about the economy. But in his first press conference Wednesday, new chair Kevin Warsh began to reverse some of those steps. ...

There will be NO TOLLS in the Hormuz Strait for 60 days during the Cease Fire Period, and there will be NO TOLLS after the 60 day period has expired, unless they are imposed by and for the United States of America, should the deal not be completed, for services rendered as the Guardian Angel to the countries of the Middle East for purposes of both past, present, and future reimbursement of costs. Thank you for your attention to this matter!!! President DJT

The US military said Saturday it remained “present and vigilant” in the Strait of Hormuz, shortly after Iran announced it was closing the critical shipping lane. “US forces remain present and vigilant to ensure all aspects of the agreement with Iran are adhered to, obeyed, and in full force and effect,” US Central Command (CENTCOM) said in a statement. ...

Last week was momentous. There was a fragile 60-day de-escalation during negotiations between Washington and Tehran. However, the allies of both (Hezbollah and Israel) continue to clash, stalling talks. Still, oil prices tumbled 7-9%. At the same time, a new era at the Federal Reserve has begun. The new chair eschews forward guidance, and this was reflected ...

"Safe passage through the international waterway remained intact today as 55 merchant ships transited, moving large amounts of cargo and more than 17 million barrels of oil to global markets. "

Axios: Vance may head to Switzerland today to participate in the talks scheduled with Iran tomorrow.

Iran Closes Strait of Hormuz as Fighting Flares Again in Lebanon

Two men were arrested on Friday (Jun 19) for allegedly stealing a diamond worth over S$235,000 (US$182,000) from a jewellery store after replacing it with a fake. In a news release on Saturday, the Singapore Police Force (SPF) said it received a call for assistance at about 3.40pm on Friday and was informed that a diamond had been stolen from a jewellery ...

The Federal Reserve is a sprawling bureaucracy, averse to change. With that in mind, the latest FOMC meeting and press conference — the first under new Fed Chair Kevin Warsh — came as a pleasant surprise. The Fed held its target for the federal funds rate at 3.5% to 3.75%. While that decision itself was routine (markets had treated it as a near-certainty), ...

Markets started the week with noticeable relief. The trigger was news that the US and Iran had agreed on a declaration of intent that could be formalized in Geneva on Friday. The core of the draft is reportedly a 60-day window for further negotiations—flanked by a ceasefire and the prospect of reopening the Strait of Hormuz. Although similar reports in the ...

The term “rate cut” is effectively banished in central bank circles right now. Rumour has it that any mention of The Policy Change That Must Not Be Named at the European Central Bank gets you turned into a frog. Or worse, sent for mandatory training at the German Bundesbank, where someone lectures you about the “1970s” for several hours… Best not mention it ...

Pedro Antunes, chief economist at Signal 49 Research, joins BNN Bloomberg to discuss Canada's retail sales and the path for interest rates.

The Bank of Russia reduced its benchmark interest rate by a quarter of a basis point on Friday, marking the ninth consecutive cut as inflation stays above the target. The Board of Directors decided to cut the key rate to 14.25% from 14.50%, the Russian central bank said. Markets had anticipated a 50 basis-point reduction. The bank started its massive ...

Trump: About 700 ships are going through Hormuz. Trump: China’s President Xi is coming to the US in September.

The dollar has benefited from a series of stronger-than-expected US economic releases over recent weeks. Most notably, the latest US labour market report showed job creation comfortably exceeding expectations. In addition, the Federal Reserve delivered a more hawkish message than markets had anticipated at its June meeting. Particular attention was paid to ...

Elon Musk’s ex Ashley St. Clair claims she turned down a multi-million-dollar NDA from the newly minted trillionaire after giving birth to his 13th child. “It was a shock, especially the way in which [the NDA] was presented over disappearing Signal messages,” she alleged on the June 16th episode of the “Don Lemon Show” podcast. St. Clair, 27, says she was ...

Gold trades globally around the clock, but it doesn’t trade equally. The US session (anchored by COMEX futures in New York) accounts for the largest single share of daily gold trading volume. On a normal Friday, US participants set the tone from roughly 8 a.m. to 5 p.m. ET. On Juneteenth, that session doesn’t happen. COMEX follows a holiday schedule with ...

Iran has introduced mandatory insurance for all vessels transiting the Strait of Hormuz, requiring shipowners to obtain coverage approved — and initially provided free — by Tehran’s newly created Persian Gulf Strait Authority. The move, detailed in a PGSA terms‑and‑conditions document seen by Lloyd’s List, effectively sidesteps a new US-Iran Memorandum of ...

NEW: President Trump told NBC News in a phone call he spoke with Israel earlier today and asked them to agree to a ceasefire w/Hezbollah. "It's a positive," he said. "It's a little icing on the cake." He declined to specify whether he had talked to PM Netanyahu directly.

Over the past four years, Elvira S. Nabiullina, the head of Russia’s central bank, has emerged as the linchpin of the country’s relative economic stability, viewed by many as a technocratic voice of reason navigating the challenges and chaos of a wartime economy facing severe Western sanctions. So when she called in sick and skipped a high-profile economic ...

Talks between the U.S. and Iran were called off Friday after intense fighting between Israel and Hezbollah in southern Lebanon, officials said, raising questions about an initial agreement to end the war in Iran. Israel and the militant group later agreed to a ceasefire, three officials said. Word of the ceasefire came from two regional officials and a U.S. ...

#OOTT | Iran Foreign Minister Araghchi: Any Violation Of Commitments Will Be Directed At The United States - Tasnim pic.twitter.com/ycRnqfdcFN

The US dollar (USD) is strengthening into the end of Q2 and its gains are being driven by fundamentals as markets have moved to re-price a considerable amount of Fed tightening in the aftermath of the June FOMC. The outlook for relative central bank policy is dominating and currency markets are shifting away from the sentiment-driven movement that has ...

The dollar held firm against most peers on Friday, as a peace deal between the U.S. and Iran hung in the balance, pinning the yen around a two-year low, a break past which would take the Japanese currency to its weakest in 40 years. The dollar climbed as high as 161.8 yen late on Thursday, closing in on July 2024's 161.96. Any higher would take it to its ...