Daily market news

Crude Oil prices are practically flat on Monday, with the price of the US benchmark West Texas Intermediate (WTI) barrel practically flat around the $70.00 level.

The USD/CAD pair trades flat at around 1.14195 during the European trading session on Monday. The Loonie pair consolidates as investors shift focus to the United States (US) Nonfarm Payrolls (NFP) data for June, which will be released on Thursday.

USD/CAD loses ground for the third successive day, trading around 1.4180 during the early European hours on Monday. The pair continues its losing streak after pulling back from 14-month highs.

Silver price (XAG/USD) trades almost 1% lower at around $58.60 during the European trading session on Monday. The white metal is under pressure as trade of attacks between the United States (US) and Iran has renewed fears of energy flow disruption, a scenario that could boost oil prices.

The EUR/JPY cross trades in positive territory near 184.20 during the early European session on Monday. However, the potential upside for the cross might be limited as traders are nervous about a fragile US-Iran ceasefire. 

Silver (XAG/USD) steadies on Friday as the US Dollar (USD) and Treasury yields retreat after the latest US Personal Consumption Expenditures (PCE) inflation data showed underlying inflation remained relatively contained.

According to the June 23-25 Reuters poll, 78 of 102 economists expect that the Federal Reserve (Fed) will hold interest rates steady in the current range of 3.50%-3.75% the entire year, up from 72 economists who anticipated the same in the early June poll.

Gold price (XAU/USD) trades 0.6% higher to near $4,050 during the European trading session on Friday. The precious metal recovers after discovering support near $3,960 in the past two trading days.

Crude Oil prices edge lower on Friday, with the US benchmark West Texas Intermediate (WTI) barrel changing hands at $69.65 at the time of writing. This is the lowest price since February 27, one day before the US and Israel launched a joint attack on Iran.

The Australian Dollar (AUD) underperforms its major currency peers, trading 0.25% lower to near 0.6890 against the US Dollar (USD) during the European trading session on Friday. The antipodean weakens as market participants expect the next move by the Reserve Bank of Australia (RBA) on the downside.