Forex News

Friday, June 27, 2025

US equity markets continued to rally as confidence builds. The US Dollar has been tumbling, as the need for a safe haven dissipates, while trade wars come back into focus. The US Dollar has been shunned over the medium term, mainly due to the tariff wars, but also the realisation that it may not be the only option for reserve currency. US GDP was negative for the quarter, but beat expectations annually, rising by 3.8%. The last quarter was an aberration due to the massive flow of imports to avoid Liberation Day tariffs. The Dollar has been smashed, with the EUR surging to 1.1750, while the GBP reached 1.3750.The precipitous falls in the reserve were not proportionately reflected in commodity currency gains, as trade concerns are manifest. The AUD pushed up towards 0.6550, while the NZD consolidates above 0.6000. As the Geo-Political crises subsides, the focus will again turn to global trade and Australasia nations remain unloved by the Trump administration. Markets will look at inflation data from the US, France and Japan today.

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