July 14 International Forex News

U.S. Military Announces Third Consecutive Night of Strikes on Iran

July 14: U.S. Central Command said that at 4:45 p.m. U.S. Eastern Time today, it began a third consecutive night of strikes against Iran.

The strikes will continue to impose a heavy cost on Iranian forces and weaken their ability to attack commercial shipping in the Strait of Hormuz.

Probability of Fed Holding Rates Unchanged in July Stands at 58.3%

July 14: According to the CME FedWatch Tool, the probability that the Federal Reserve will keep interest rates unchanged in July is 58.3%, while the probability of a cumulative 25-basis-point rate hike is 41.7%.

By September, the probability that the Fed will keep interest rates unchanged is 24.9%, the probability of a cumulative 25-basis-point rate hike is 51.2%, and the probability of a cumulative 50-basis-point rate hike is 23.9%.

UK Retail Sales Rise in June Despite Heatwave

July 14: A report showed that UK retail sales increased in June, supported by the World Cup, despite record-high temperatures.

According to a report by the British Retail Consortium and KPMG, UK retail sales rose 1.9% year-on-year during the five weeks from May 31 to July 4.

Helen Dickinson, chief executive of the British Retail Consortium, said: “Although in-store sales were suppressed by high temperatures, the share of online sales reached its highest level in 2026, supported by timely promotional activity.”

Retailers saw strong demand for fans and air conditioners, while the World Cup boosted sales of household electronics as well as food and beverages. However, the report said retailers continue to face political uncertainty, and the impact of the Middle East war could further weaken consumer confidence.