The US administration is targeting the Iranian supreme leader Ali Khamenei and other top Iranian officials with sanctions. Tensions between the US and Iran seem to be rising,helping safe haven currencies to strengthen even further against the USD.

RBNZ is expected to release its interest rate decision. The NZD OIS indicates a probability of 72.73% for the RBNZ to remain on hold at +1.50%. Also, it’s expected that the bank will maintain a dovish tone indicating the possibility for further rate cuts beforethe end of the year (NZD OIS seems to be pricing in a possible rate cut in August– by 83%).

Other economic highlights, today and early tomorrow

Today during the US session, we get Canada’s final Wholesale Trade for April and the US Consumer Confidence for June. During tomorrow’s early Asian session, we get the API weekly crude oil inventories and from New Zealand the RBNZ interest rate decision.

NZD/USD H4

USD/CHF H4

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