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FX markets hover as US-Iran stalemate keeps risk sentiment guarded
Forexlive says UK wage growth cooled to 2.8% in June and unemployment held at 4.9%, while Qatar noted talks on broader US-Iran negotiations depend on a separate Iran-Oman Hormuz agreement.
European FX trading remained subdued as market participants focused on the prolonged US-Iran stalemate, which kept inflation risks tilted to the upside and left risk sentiment on the defensive, Forexlive reported.
The outlet pointed to additional macro pressure from the UK labour market, saying private sector wage growth slowed to 2.8% in June, its weakest pace since 2020, while unemployment remained at 4.9% and vacancies continued to decline.
Forexlive also highlighted Germany’s August ZEW survey, where investor expectations improved but the current-conditions measure stayed deeply negative at -61.1, better than the -69.5 expected.
On geopolitics, the outlet said Qatar reported mediators are waiting for Iran and Oman to reach a bilateral agreement related to the Strait of Hormuz before returning to broader US-Iran negotiations.