U.S. B-2 Bombers Observed in Transit - WSJBREAKING: U.S. Successfully Struck Iran Nuclear SitesWhat's Next after Iran Strikes?Trump is tweeting about regime change in IranUS State Department issues worldwide security alert for US citizens to exercise cautionTrump's orders strike: Ayatollah gave Trump the middle finger ... that came with a priceThere is basically zero chance Iran will be able to close the Strait of HormuzICYMI - 4 oil price forecasts, bleak scenario is up to US$130/bblANZ warn on Hormuz disruption, oil could rise to US$95 / bblOil markets - too early for a “the worst is behind us” hot take on war at this stageGoldman Sachs outlines a scenario where oil prices jump to US$110 / bblTrump to meet with national security team 1pm US Eastern time on Monday
Other:
Recapping Japan flash PMI - points to modest improvement, but business caution lingersDemocratic Republic of Congo extended ban on cobalt exports by three months - prices jumpFitch Ratings say Australian mortgage arrears showed sharper than usual riseJapan's PM Ishiba will be holding a 9pm Tokyo time press conferenceTesla launches limited robotaxi trial in Texas on SundayPeople’s Bank of China sets yuan reference rate at 7.1710 (vs. estimate at 7.1914)Japan Jibun bank PMI manufacturing June 2025 preliminary 50.4 (prior 49.4)PBOC is expected to set the USD/CNY reference rate at 7.1914 – Reuters estimateBank of Korea will take market stabilising measures if volatility heightens excessivelyAustralia preliminary June 2025 manufacturing PMI 51.0 (prior 51.0)Fed's Daly spoke over the weekend - no bombshell comments (I'll see myself out)Trade ideas thread - Monday, 23 June, insightful charts, technical analysis, ideasTrump wants a Japan, South Korea, Australia leaders meeting at the NATO summitMonday open levels, indicative FX prices, 16 June 2025 - USD up after Trump bombs IranGold Technical AnalysisCan You Rely on Weekend Markets? Understanding Weekend CFDsWeek Ahead Preview: inflation data from the US, Canada, Aus, and Global PMIs125 US military aircraft, including seven B-2 stealth bombers as the main strike group
75 precision-guided weapons deployed, including 14 GBU-57 Massive Ordnance Penetrators (MOPs; ~13,000kg / 30,000lb), dropped on two target areas
In the very early hours of the Asia session, FX markets reacted with a mild safe-haven bid into USD. The dollar firmed across the board, with EUR, GBP, AUD, and NZD all gapping lower. JPY and CHF also weakened, while CAD dipped, but found partial support from a rise in oil prices.
EUR, AUD, NZD, and GBP also recovered early losses, but as the session wore on, these currencies turned lower again—AUD and NZD underperforming most notably.
On the political front, President Trump raised the prospect of regime change in Iran, reportedly blindsiding his senior officials. Given the source, the idea can’t be entirely dismissed. If this does become a goal, the Middle East risks entering a sharply more escalatory phase. It’s still unlikely in my view, but with Trump, unpredictability—and follow-through—should never be underestimated.
Australia's flash PMIs showed business activity expanding at a faster pace in June, driven by stronger new orders. However, export orders declined sharply. Sentiment improved, and employment continued to rise.
As of writing, USD/JPY is trading near a five-week high. Gold spiked higher at the opening but has since fallen back to be lower on the day.
Brent up
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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