investingLive Asia-pacific FX news wrap 14 Jul

<ul><li><a href="https://investinglive.com:443/news/china-june-trade-data-smashes-forecasts-on-ai-demand-surge" rel="follow">China June trade data smashes forecasts on AI demand surge</a></li><li><a href="https://investinglive.com:443/forex/nzd-firms-as-conway-reinforces-rbnz-hawkish-tilt-on-inflation-risk" rel="follow">NZD firms as Conway reinforces RBNZ hawkish tilt on inflation risk</a></li><li><a href="https://investinglive.com:443/news/china-s-export-growth-accelerated-in-june-surged-27-y-y-vs-18-2-expected" rel="follow">China's export growth accelerated in June, surged 27% y/y vs. 18.2% expected</a></li><li><a href="https://investinglive.com:443/news/preview-falling-gas-prices-seen-pulling-us-june-cpi-lower-but-fed-unlikely-to-relax" rel="follow">Preview - Falling gas prices seen pulling US June CPI lower, but Fed unlikely to relax</a></li><li><a href="https://investinglive.com:443/commodities/gold-falls-to-two-week-low-as-oil-surge-stokes-fed-hike-bets" rel="follow">Gold falls to two week low as oil surge stokes Fed hike bets</a></li><li><a href="https://investinglive.com:443/news/australian-business-mood-improves-in-june-but-survey-misses-new-oil-spike" rel="follow">Australian business mood improves in June, but survey misses new oil spike</a></li><li><a href="https://investinglive.com:443/commodities/icymi-european-union-imposes-gold-sanctions-ban" rel="follow">ICYMI - European Union imposes gold sanctions / ban</a></li><li><a href="https://investinglive.com:443/news/australia-business-confidence-june-2026-vs-prior-14" rel="follow">Australia Business Confidence June 2026: -5 (vs. prior -14)</a></li><li><a href="https://investinglive.com:443/central-banks/pboc-sets-usd-cny-central-rate-at-vs-estimate-at-6-7927" rel="follow">PBOC sets USD/ CNY central rate at 6.7990 (vs. estimate at 6.7927)</a></li><li><a href="https://investinglive.com:443/forex/japan-finance-minister-comments-giving-the-yen-a-wee-boost" rel="follow">Japan finance minister comments giving the yen a wee boost</a></li><li><a href="https://investinglive.com:443/news/rba-rate-hikes-still-weighing-even-as-confidence-ticks-higher" rel="follow">RBA rate hikes still weighing even as confidence ticks higher</a></li><li><a href="https://investinglive.com:443/central-banks/bank-of-korea-seen-hiking-to-2-75-this-week-on-thursday-more-to-come-by-year-end" rel="follow">Bank of Korea seen hiking to 2.75% this week, on Thursday, more to come by year end</a></li><li><a href="https://investinglive.com:443/central-banks/recap-rbnz-warns-oil-driven-inflation-could-become-persistent-more-hikes-eyed" rel="follow">Recap - RBNZ warns oil driven inflation could become persistent, more hikes eyed</a></li><li><a href="https://investinglive.com:443/news/singapore-economy-cools-from-q1-pace-as-mas-policy-call-nears" rel="follow">Singapore economy cools from Q1 pace as MAS policy call nears</a></li><li><a href="https://investinglive.com:443/forex/yen-katayama-bounce-fully-unwinds-as-gpif-shift-doubts-emerge" rel="follow">Yen Katayama bounce fully unwinds as GPIF shift doubts emerge</a></li><li><a href="https://investinglive.com:443/news/uk-consumers-spend-on-heat-and-football-even-as-risks-build" rel="follow">UK consumers spend on heat and football even as risks build</a></li><li><a href="https://investinglive.com:443/commodities/icymi-iranian-missiles-hit-two-uae-tankers-in-hormuz-killing-one-crew-member" rel="follow">ICYMI - Iranian missiles hit two UAE tankers in Hormuz, killing one crew member</a></li><li><a href="https://investinglive.com:443/central-banks/rbnz-chief-economist-conway-more-will-get-inflation-back-to-2" rel="follow">RBNZ Chief Economist Conway, more: "Will get inflation back to 2%"</a></li><li><a href="https://investinglive.com:443/commodities/tanker-hit-by-projectile-off-oman-coast-hours-before-hormuz-blockade" rel="follow">Tanker hit by projectile off Oman coast hours before Hormuz blockade</a></li><li><a href="https://investinglive.com:443/central-banks/rbnz-signals-further-tightening-as-conflict-lifts-inflation-risk" rel="follow">RBNZ signals further tightening as conflict lifts inflation risk</a></li><li><a href="https://investinglive.com:443/news/nz-qsba-business-confidence-rebounds-but-rising-cost-pressures-cloud-rbnz-path" rel="follow">NZ QSBO business confidence rebounds but rising cost pressures cloud RBNZ path</a></li><li><a href="https://investinglive.com:443/commodities/icymi-uae-plans-new-fujairah-port-to-bypass-strait-of-hormuz-ft-reports" rel="follow">ICYMI - UAE plans new Fujairah port to bypass Strait of Hormuz, FT reports</a></li><li><a href="https://investinglive.com:443/commodities/us-military-says-it-has-begun-a-third-consecutive-night-of-strikes-against-iran" rel="follow">US military says it has begun a third consecutive night of strikes against Iran</a></li><li><a href="https://investinglive.com:443/commodities/recap-crude-surges-as-saudi-arabia-comes-under-attack-and-iran-blockade-returns" rel="follow">Recap - Crude surges as Saudi Arabia comes under attack and Iran blockade returns</a></li><li><a href="https://investinglive.com:443/stocks/nasdaq-index-leads-the-stocks-to-the-downside" rel="follow">NASDAQ index leads the stocks to the downside</a></li></ul><p class="font-claude-response-body break-words whitespace-normal">Summary:</p><ul class="[li_&]:mb-0 [li_&]:mt-1 [li_&]:gap-1 [&:not(:last-child)_ul]:pb-1 [&:not(:last-child)_ol]:pb-1 list-disc flex flex-col gap-1 pl-8 mb-3"><li class="font-claude-response-body whitespace-normal break-words pl-2">Oil extended gains after Monday's 9% plus surge, with the US military carrying out a third consecutive night of strikes on Iran and the naval blockade of Iranian shipping now in force</li><li class="font-claude-response-body whitespace-normal break-words pl-2">Gold briefly slipped under 4,000 dollars as the inflation and rate hike implications of the oil spike outweighed any safe haven bid</li><li class="font-claude-response-body whitespace-normal break-words pl-2">The New Zealand dollar moved higher on RBNZ chief economist Conway's comments reinforcing the case for further tightening if Middle East linked inflation proves persistent</li><li class="font-claude-response-body whitespace-normal break-words pl-2">The yen rallied briefly after Japan's Finance Minister Katayama reopened the door to a possible GPIF allocation shift, without committing to anything concrete</li><li class="font-claude-response-body whitespace-normal break-words pl-2">China's June trade data smashed forecasts, with exports growing at their fastest pace since 2021 and imports at a five year high</li><li class="font-claude-response-body whitespace-normal break-words pl-2">South Korean shares fell again, triggering a five minute sidecar halt in program trading after the KOSDAQ dropped 5%</li></ul><p class="font-claude-response-body break-words whitespace-normal">Oil extended its gains on Tuesday after Monday's rally of more than 9%, as the US military carried out a third consecutive night of strikes against Iran and the reinstated naval blockade of Iranian shipping took hold. The escalation has now touched multiple fronts within a single session, from direct attacks on Saudi soil to a fatal Iranian missile strike on two UAE tankers in the southern Strait of Hormuz, and Trump's warning of a possible strike on a hardened nuclear facility near Natanz has added a further layer of risk rather than any sign of de-escalation. That combination has left the market pricing a conflict showing no obvious path toward containment, and it is the backdrop against which nearly every other story in today's session needs to be read. Gold, typically a beneficiary of exactly this kind of geopolitical stress, instead briefly slipped under 4,000 dollars, a reminder that the inflation and Fed rate hike implications of higher oil are currently outweighing any safe haven demand for the metal.</p><p class="font-claude-response-body break-words whitespace-normal">The New Zealand dollar was a standout mover, helped by RBNZ chief economist Conway reinforcing the central bank's hawkish framing. Conway confirmed last week's 25 basis point hike to 2.5%, described it as a calibrated drift back toward neutral rather than a shift to restrictive policy, and explicitly said the RBNZ will respond further if Middle East linked inflation pressures prove more persistent than expected, a fairly direct piece of forward guidance that gave the currency a clean fundamental tailwind.</p><p class="font-claude-response-body break-words whitespace-normal">The yen also found some support after Japan's Finance Minister Katayama said a change to GPIF's asset allocation could be examined if the investment environment shifts sharply, days after a report suggested no immediate change was planned. The remarks gave markets a reason to keep pricing some probability of repatriation without offering anything concrete enough to reignite last week's scale of buying, and comments on wanting to enhance the appeal of Japanese government bonds suggest Tokyo is keen to keep the broader asset attractiveness story alive on multiple fronts rather than resting on the GPIF question alone. The yen's rally proved brief, consistent with a market now treating this kind of comment with more caution after last week's round trip.</p><p class="font-claude-response-body break-words whitespace-normal">China provided the session's clearest upside surprise, with June trade data beating forecasts comprehensively. Exports rose 27% year on year, the fastest pace since 2021, while imports jumped 36% to a five year high, both far ahead of consensus as AI related demand and a rush of shipments ahead of possible US tariffs supported activity. The data raises the stakes for Wednesday's second quarter GDP release.</p><p class="font-claude-response-body break-words whitespace-normal">South Korean equities were the session's weak spot, falling again and forcing the Korea Exchange to activate its sidecar mechanism, halting program trading for five minutes after the KOSDAQ dropped 5%, a further sign of how unsettled regional risk appetite has become as the conflict grinds on.</p><p class="font-claude-response-body break-words whitespace-normal">---</p><p class="font-claude-response-body break-words whitespace-normal">Still to come Tuesday are June CPI data from the US. There's a preview linked in the bullets above and here is an <a href="https://investinglive.com/central-banks/goldman-expects-us-core-cpi-to-ease-to-2-8-year-on-year-in-june" rel="follow">earlier one from Goldman Sachs.</a></p><p class="font-claude-response-body break-words whitespace-normal">This table of forecasts is via the Wall Street Journal:</p><p class="font-claude-response-body break-words whitespace-normal"> </p><p class="font-claude-response-body break-words whitespace-normal"></p><p class="font-claude-response-body break-words whitespace-normal"></p>

This article was written by fl6553e4b45d84486a91658a8b3f02bf22 at investinglive.com.

This article was sourced from Forexlive. WealthWire India aggregates financial news for informational purposes only. This does not constitute investment advice.