Brent oil price rose around 2% in early Monday trading (on track for the first daily gain after being eight days in red), following fresh escalation in the Middle East (escalation in Lebanon and fresh US attack on Iran and their subsequent response) that soured the sentiment. Strongly oversold daily studies, following heavy losses in…
US manufacturing activity accelerated in May, with ISM Manufacturing PMI rising from 52.7 to 54.0, well above expectations of 52.6 and marking its highest level since May 2022. The report points to a broadening recovery across the sector, with only 2% of manufacturing GDP now in contraction, down dramatically from 19% in April. Historically, a…
USD/JPY continued its advance on Monday, reaching 159.46. The Japanese yen therefore remains under pressure near the key 160.00 level against the US dollar. This was the threshold that previously triggered currency market interventions by the Japanese authorities. Data released on Friday confirmed that Japan spent JPY 11.7 trillion supporting its national currency at the…
The USD/MXN is around the 17.32610 ratio as of this writing and displaying a wide spread via bids and asks as the broad Forex market has remained within a slightly weaker USD centric mode. Going into this past weekend the USD/MXN had shown some downside near-term momentum as it returned to its lower realm. The…
Major currency pairs struggled to move decisively away from last week’s closing levels on Monday as investors largely shrugged off developments pointing to a renewed escalation of tensions in the Middle East. Market participants remained focused on upcoming economic data, with the United States set to release the Institute for Supply Management’s (ISM) Manufacturing Purchasing…
Switzerland’s economy expanded faster than expected in the first quarter, with GDP excluding sporting events rising from 0.2% qoq to 0.7% qoq, well above the 0.5% qoq consensus forecast. On a sport-adjusted basis, GDP accelerated from 0.2% qoq to 0.4% qoq. The data suggest the Swiss economy entered 2026 with stronger momentum than anticipated, though…
Markets enter the new week balancing two major uncertainties: whether a proposed US-Iran ceasefire extension can evolve into a formal agreement, and whether incoming economic data will push the Federal Reserve closer toward another rate hike. Last week, investors aggressively embraced the peace trade. Oil prices collapsed, Treasury yields retreated, and equities surged as markets…
A staff member holds dollar bills at Hana Bank’s anti-counterfeiting center in Jung-gu, Seoul. (Yoon Chang-bin/The Korea Herald) South Korea’s foreign exchange market will move to round-the-clock won-dollar trading from July, marking a major step in efforts to improve market accessibility. Seoul authorities approved revisions to the code of conduct for the onshore forex market…
EUR/CHF attempted for recovery last week but failed after rejection by 55 D EMA (now at 0.9159). As downside is contained above 0.9094 temporary low, initial bias stays neutral this week first. Outlook is unchanged that rebound from 0.8979 should have completed at 0.9264. Break of 0.9094 will bring deeper fall back to retest 0.8979…
By DailyForex Press Release Created on May 31, 2026 Saudi Arabia is rapidly becoming one of the region’s most active and promising markets for online trading. With the Kingdom’s accelerating digital transformation, a young and financially curious population, and growing interest in global markets, more traders in KSA are exploring opportunities across forex, indices, commodities,…