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The US dollar is rising pretty much across the baord. Its not a rapid move, but a slow boil with an accumulation of news pointing it higher:

• Trump says everyone should immediately evacuate Tehran (the White House played this down: Trump’s ‘evacuate Tehran’ tweet is all about getting Iran to negotiate says White House)
• Trump is leaving the G7 summit EARLY and will return to DC tonight.
• Fox reporting that Trump requests NSC be prepared in Situation Room

Oh …. this might calm markets a little:

This article was written by Eamonn Sheridan at www.forexlive.com.

The US dollar is rising pretty much across the baord. Its not a rapid move, but a slow boil with an accumulation of news pointing it higher:

• Trump says everyone should immediately evacuate Tehran (the White House played this down: Trump’s ‘evacuate Tehran’ tweet is all about getting Iran to negotiate says White House)
• Trump is leaving the G7 summit EARLY and will return to DC tonight.
• Fox reporting that Trump requests NSC be prepared in Situation Room

Oh …. this might calm markets a little:

This article was written by Eamonn Sheridan at www.forexlive.com.

Fox reporting that Trump requests NSC be prepared in Situation Room.

NSC is the US National Security Council

This follows the news that Trump left the G7 abruptly:

• Trump is leaving the G7 summit EARLY and will return to DC tonight.

Trump left early

This article was written by Eamonn Sheridan at www.forexlive.com.

France’s Macron:

• Trump told G7 leaders there were discussions to obtain a ceasefire between Israel and Iran
• European partners are ready to take part in serious Iran nuclear negotiations if a ceasefire is reached
• Americans have made offer to meet with Iranians, now will see what happens
• Given the objective to get a ceasefire in Middle East Trump’s departure from G7 is positive

This article was written by Eamonn Sheridan at www.forexlive.com.

Trump tweeted (on his own social media app) telling Iranians to “immediately evacuate Tehran”.

The White House have deconstructed the tweet:

• A White House official told CNN on Monday that Trump’s social media post telling Iranians to “immediately evacuate Tehran” reflected the urgency of the need for Iran to come to the table as its tit-for-tat with Israel continues

• The official said that Trump has been receiving regular updates

Trump admin officials are reported to have ‘retweeted’ the post. I’d suggest this is just sycophancy rather than anything more meaningful. Perhaps in a few days time US military forces will be better positioned for action against Iran. Wouldn’;t want top be in Tehran when that happens.

Earlier:

• US is accelerating the deployment of additional aircraft carrier group to the Middle East

This article was written by Eamonn Sheridan at www.forexlive.com.

t Trump is leaving the G7 summit EARLY and will return to DC tonight.

This article was written by Eamonn Sheridan at www.forexlive.com.

New Zealand Food Price Index for May 2025 +0.5% m/m

• prior +0.8%

NZD/USD not doing a real lot, let’s take a look at oil instead:

—

The New Zealand Food Price Index (FPI) is a measure of the changes in the average price of food items sold in New Zealand.

• calculated and published monthly by Statistics New Zealand
• the FPI tracks the prices of a basket of food items that represent the typical spending patterns of New Zealand households
• the FPI is an important indicator of inflation in New Zealand, as food prices account for a significant portion of household expenditure

This article was written by Eamonn Sheridan at www.forexlive.com.

Canadian media (CBC) with the info:

Prime Minister Mark Carney and U.S. President Donald Trump are putting a deadline on ironing out bilateral trade irritants and getting some sort of deal on tariffs: 30 days.

• the two met on the sidelines of the G7 summit
• agreed the trade talks need to be sped up
• goal of reaching a deal sometime over the next month
• the first time either side has put a definitive timeline on reaching a deal

This article was written by Eamonn Sheridan at www.forexlive.com.

Fuji TV report conveyed via Reuters:

Japan Prime Minister Ishiba,

• US President Trump did not reach tariff agreement, Fuji TV reports

• Japan, U.S. confirmed to continue tariff talks,

This article was written by Eamonn Sheridan at www.forexlive.com.

more to come

Trump posts:

“Iran should have signed the “deal” I told them to sign….IRAN CAN NOT HAVE A NUCLEAR WEAPON… Everyone should immediately evacuate Tehran!”

This article was written by Eamonn Sheridan at www.forexlive.com.

UBS believes the sharp market reaction to the latest Middle East crisis is overdone, arguing that the geopolitical risk premium is inflated relative to the actual threat to global oil supply. The bank notes that Iran accounts for just 1.6% of global output.

Unlike past conflicts that triggered genuine supply shocks, UBS sees the current episode as unlikely to have lasting market impact. It advises investors to buy on dips, viewing any pullback as a buying opportunity rather than the start of a sustained downturn.

The bank maintains a bullish outlook on global equities, particularly in sectors such as defense and technology,

• sees gold rising to $3,500/oz by end-2025 as demand climbs for both strategic and inflation-hedging assets.

Bottom line: UBS sees the geopolitical fear as excessive and expects markets to remain underpinned by supportive policy, resilient wages, and AI-led productivity gains.

This article was written by Eamonn Sheridan at www.forexlive.com.

White House:

United States intends to create an annual quota of 100,000 vehicles for United Kingdom automotive imports at a 10 percent tariff rate

This article was written by Eamonn Sheridan at www.forexlive.com.