The latest Market Talks covering FX and Fixed Income. Published exclusively on Dow Jones Newswires throughout the day.
0828 GMT - A Supreme Court ruling this week on President Trump's attempt to fire Federal Reserve governor Lisa Cook poses a potential headwind to the dollar, ING's Francesco Pesole says in a note. If the ruling supports Trump's bid, that could "reignite some Fed independence concerns which could weigh substantially on a dollar," he says. However, in January justices signaled skepticism over Trump's claim that he could immediately remove Cook on allegations of mortgage fraud. The DXY dollar index falls 0.1% to 101.241.(renae.dyer@wsj.com)
0804 GMT - Germany's business community is counting on constructive talks between the European Union's trade chief Maros Sefcovic and China's commerce minister Wang Wentao on Monday, says Volker Treier, chief of foreign trade at the DIHK German Chamber of Commerce. Europe must build a united front, given companies are being hurt by competitive distortions from China and weak Chinese demand, he says. "China should address this weak demand with determination in order to regain the trust of European suppliers." A rapid end to Chinese export restrictions on critical raw materials should be at the top of the agenda, Treier says. Stricter steel-import restrictions and the conclusion of further trade agreements aimed at supply-chain diversification are also important, he adds. (edward.frankl@wsj.com)
0747 GMT - The euro could take a while to recover meaningfully against the dollar, Commerzbank's Michael Pfister says in a note. The market is unlikely to bet on more interest-rate rises by the European Central Bank as euro-area inflation probably peaked in May, he says. Data on Wednesday are expected to show inflation eased slightly in June following a fall in energy prices. The dollar also looks set to remain elevated as there is no decisive event for the market to price out expectations for Federal Reserve interest rate rises, he says. "It is therefore likely to be quite some time before the prewar level of 1.18 for euro-dollar comes back into focus." The euro rises 0.2% to $1.1407. (renae.dyer@wsj.com)
0733 GMT - Gilt investors' attention is on the appointment of the new leader of the U.K. Treasury, Goldman Sachs Research strategists say in a note. Some of the candidates who could take up the role are Ed Miliband, Wes Streeting, Shabana Mahmood, and Yvette Cooper. Investors will want to know the fiscal plans for the new leader of the Treasury. "This decision is likely to be the primary near-term driver of market uncertainty," they say. Ten-year gilt yields rise 0.6 basis points to last trade at 4.739%, Tradeweb data show. (miriam.mukuru@wsj.com)
0718 GMT - Yields on U.K. government bonds, or gilts, rise as investors await the speech by prime minister hopeful Andy Burnham. Burnham is expected to lay out his economic policies and his plans to drive growth in the U.K. Investors are concerned that the new policies could push up government debt and exacerbate U.K.'s weak public finances. Ten-year gilt yields rise 1 basis point to last trade at 4.743%, Tradeweb data show. (miriam.mukuru@wsj.com)
0716 GMT - The dollar's gains against the yen continues to be capped by increased vigilance over FX intervention by Japanese authorities, four analysts of Nomura's Global FX Strategy say in a research report. "Based on past intervention episodes, though we note the sample size is extremely limited, we are mindful about MOF intervention becoming increasingly likely, as USD/JPY approaches the 163 level," they say. The analysts estimate 163 level based on data from two rounds of yen-buying intervention within the same year in both 2022 and 2024. The dollar is little changed at 161.79 yen, LSEG data show. (ronnie.harui@wsj.com)
0713 GMT - Sterling rises against a softer dollar but trades steady versus the euro ahead of a major policy speech by Andy Burnham, the frontrunner to become the U.K's next prime minister, later in the day. It will mark Burnham's first speech since launching a bid to succeed Prime Minister Keir Starmer, who announced his resignation last week. Burnham is expected to commit to plans to raise living standards and boost growth, according to media reports. Any hints about fiscal policy will be key for markets. Sterling rises 0.1% to $1.3221. The euro trades flat at 0.8627 pounds. (renae.dyer@wsj.com)
0700 GMT - Singapore's economy should be able to hold up well this year, thanks to strong demand for artificial intelligence-related products, Capital Economics' economists say in a note. Exports of electronics goods were up 68% on year in the first four months of the year, they note. The recent decline in global energy prices bodes well for the city-state's economy, even though it is less energy-intensive than many of its peers in Asia. The rapid productivity growth in the manufacturing sector should also ensure that strong economic growth doesn't lead to a rise in underlying price pressures, CE says.(amanda.lee@wsj.com)
0700 GMT - The dollar may remain stronger versus the yen for longer on wider U.S.-Japan yield differentials, LGT Private Banking Asia says in its latest FX outlook report. Firstly, the notably hawkish outcome of the Fed's recent meeting had a greater impact on Treasury yields and the dollar, the bank says. Secondly, the BOJ's "well-telegraphed" rate increase, without a stronger signal on pace or scale of tightening, failed to support the yen, the bank adds. LGT Private Banking Asia maintains its dollar forecasts of 158 yen, 156 yen, and 155 yen over 3-, 6- and 12-month horizons, respectively. The dollar is little changed at 161.78 yen, according to LSEG data. (ronnie.harui@wsj.com)
0652 GMT - Bitcoin rises marginally as U.S. stock futures edge higher after the U.S. and Iran agreed to halt attacks. U.S. officials said the U.S. and Iran would end days of back-and-forth fighting around the Strait of Hormuz and resume peace talks, the WSJ reports. Meanwhile, investors will be monitoring the performance of tech stocks this week following a recent selloff that weighed on cryptocurrencies. U.S. labor market data including the key nonfarm payrolls report on Thursday will also be in focus given the recent increase in expectations for interest-rate rises by the Federal Reserve. Bitcoin rises 0.7% to $60,006, having reached a 21-month low of $58,075 last Thursday, LSEG data show. (renae.dyer@wsj.com)
0644 GMT - Eurozone government bond yields edge up in early trade, potentially signaling limits for further yield falls. The focus on oil, inflation and the European Central Bank's forum in Sintra, Portugal, could limit the downside for German Bund yields, Commerzbank's Rainer Guntermann says in a note. "Although oil prices near prewar levels reduce tail risks for economic growth, inflation and rates volatility, inflation is probably not coming down quickly enough to dispel the ECB hawkishness," the rates strategist says. Government bond supply on Monday will come from Belgium, which will auction 2.6 billion euros to 3 billion euros in 2034-, 2041- and 2056-dated bonds, known as OLOs. The 10-year Bund yield edges up 0.9 basis points to 2.859%, according to Tradeweb. (emese.bartha@wsj.com)
0635 GMT - The dollar eases as investors look ahead to a batch of labor market data for further direction on the potential path of interest rates. The job openings and labor turnover survey will be released on Tuesday followed by the ADP private payrolls report and Challenger, Gray & Christmas job cuts data on Wednesday. The all-important nonfarm payrolls report will be released Thursday along with weekly jobless claims ahead of Friday's U.S. public holiday. The data will be closely monitored after the Federal Reserve's meeting earlier this month boosted market expectations for rate rises. The DXY dollar index falls 0.1% to 101.278, having reached a 13-month high of 101.800 Wednesday. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
June 29, 2026 04:28 ET (08:28 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments