The USD/CHF pair strengthened around 0.8125 during the early European session on Monday (6/16), supported by a rebound in the US dollar (USD). Investors await the Swiss May Producer and Import Prices and SECO Economic Forecast, due to be published on Monday. Friday's stronger-than-expected US economic data lifted the greenback against the Swiss franc (CHF). The University of Michigan Consumer Sentiment Index improved to 60.5 in June, compared to 52.2 in the previous reading. The reading was stronger than the expected reading of 53.5. Meanwhile, the US Dollar Index (DXY), a gauge of the...
Gold rose to a near two-month high on Monday, as escalating clashes between Israel and Iran over the weekend stoked fears of a wider regional conflict, prompting investors to turn to safe-haven assets. Spot gold was little changed at $3,428.89 an ounce, at 0508 GMT, after hitting its highest since April 22 earlier in the session. U.S. gold futures fell 0.1% to $3,448.10. "The compounding political risk premium that has risen due to the current Iran-Israel conflict has boosted safe-haven demand for gold," said Kelvin Wong, senior market analyst, Asia Pacific at OANDA. "Currently, prices...
The dollar index pared early gains to trade around 98 on Monday, hovering near its lowest levels since 2022, as traders dialed back some risk-off positioning while closely watching developments in the Israel-Iran conflict. The two nations continued to exchange attacks for a fourth consecutive day, defying international calls for de-escalation. Investors are also looking to the G7 summit for potential responses to global flashpoints, including the crises in the Middle East and Ukraine, as well as ongoing trade tensions. Meanwhile, attention is turning to a busy week of monetary policy...