Australian Dollar stumbles as hot Australian CPI runs into a firmer US Dollar
AUD/USD is trading around 0.7170 on Wednesday, down slightly after a hot Australian inflation print ran straight into a firmer US Dollar.
FX
British Pound retreats as sticky PCE revives Fed hike bets
Sterling retreats some 0.39% as the US Dollar stages a recovery after a US inflation report revealed that prices remained elevated, increasing the chances of seeing a rate hike by the Federal Reserve (Fed) towards the e…
Euro firms against British Pound on hopes of a Hormuz deal
EUR/GBP is trading around 0.8570 on Wednesday, on the front foot as hopes of a de-escalation in the Gulf hand the Euro (EUR) a modest lift. The pair has broken above its 20- and 100-period moving averages, which sit bun…
Polish Zloty: Policy divergence weighs on PLN against Euro – ABN AMRO
ABN AMRO’s Georgette Boele highlights that EUR/PLN has risen as interest rate expectations diverge between the Eurozone and Poland. The National Bank of Poland kept rates at 3.75% and appears divided on a possible 25bp …
Reserve Bank of Australia: Preemptive hike debate intensifies – TD Securities
Prashant Newnaha at TD Securities notes that the RBA’s August minutes were overall less hawkish than June, but still emphasized upside inflation risks and the possibility of preemptive tightening. With July CPI strong a…
EUR/USD: Lower Energy Prices Underpin the Euro Ahead of Jackson Hole
EU mid-market update: Bond yields off recent highs as drop in crude overshadows rate expectations and hawkish commentary; Awaiting Nvidia numbers and Rubin color tonight.
Dow Jones Industrial Average ignores a revision made of inflation
The Dow Jones Industrial Average trades a shade beneath 53,500 and roughly 100 points lower on the session, after a 12:30 GMT data drop the wires filed as uneventful. July core Personal Consumption Expenditures (PCE) pr…
WTI Oil drops below $80 amid hopes of Hormuz reopening, US-Iran de-escalation
Crude prices extend their reversal on Wednesday, with the US benchmark West Texas Intermediate (WTI) trading at the $79.50 area as of writing, highlighting a 9% decline from last week’s highs above $87.00.
Gold Price Forecast: XAU/USD corrects to near $4,620 in countdown to US PCE Inflation data
Gold price (XAU/USD) is down 0.75% to near $4,620 during the European trading session on Wednesday. The precious metal corrects as the rally pauses after posting a fresh three-month high at $4,697 the previous day, with…
US Dollar Index: Range trade persists as data soft – DBS
DBS Group Research economist Philip Wee notes that the DXY Index’s recent recovery stalled slightly above 99 and has reverted to a 98.5–99.0 range after last week’s sell-off linked to higher US long bond yields.
Japanese Yen: BoJ hike expectations support JPY against US Dollar – MUFG
MUFG’s Derek Halpenny notes the Japanese Yen is firmer versus most G10 currencies as markets increasingly price a Bank of Japan rate hike in September. Services PPI data and hawkish commentary from former BoJ officials …
EUR/JPY Price Forecast: Tests nine-day EMA confluence support near 185.00
EUR/JPY depreciates after registering modest gains, trading around 185.60 during the European hours on Wednesday. The technical analysis of a daily chart indicates that the currency cross is remaining within the ascendi…
Japanese Yen strengthens on US bond buyback, traders brace for US PCE inflation report
The USD/JPY pair loses ground to near 158.90 during the Asian trading hours on Wednesday. The US Treasury’s bond buyback programs weigh on the US Dollar (USD) against the Japanese Yen (JPY). The US July Personal Consump…
Australian Dollar strengthens after hot CPI report; eyes multi-month high ahead of US PCE
The AUD/USD pair attracts buyers for the second straight day and climbs to the 0.7170 area following the release of Australian consumer inflation figures during the Asian session on Wednesday. Spot prices remain close t…
New Zealand Dollar declines as US Dollar advances ahead of PCE index data
NZD/USD depreciates after registering modest gains in the previous day, trading around 0.5960 during the Asian hours on Wednesday. The pair declines as the US Dollar (USD) receives support ahead of the release of US Per…
WTI drops amid Middle East diplomacy, eased US sanction fears
West Texas Intermediate (WTI) oil price extends its losses for the third consecutive day, trading around $80.10 per barrel during the Asian hours on Wednesday. Crude oil prices have declined following reports that Iran …
EUR/USD Faces a Rate-Differential Test Into Jackson Hole
Weekly Review (Aug 24-28): EUR, GBP, AUD, Gold & RatesWeekly review for August 24–28. Not signals, just how I read the tape with the Conflux Method: structure (Reaction Levels), order flow (cluster / delta) and options …
Chinese Yuan: Trade risks limit gains against US Dollar – OCBC
OCBC’s Sim Moh Siong and Christopher Wong note that reports of potential US tariffs on Chinese goods and the PBoC’s resistance to rapid Renminbi (RMB) gains are likely to limit further downside in USD/CNH. While the bro…
GBP/USD Gains Face a Fiscal Test as UK Gilt Yields Hold Above 5%
Can Japanese Yen Futures Survive the 160 Threshold?Macroeconomic Pressures and the 160 Defense Line Japanese Yen futures are testing critical technical levels once again. Speculators are actively pushing the exchange ra…
Australia’s CPI inflation declines to 3.5% YoY in July vs. 3.2% forecast
Australia’s Consumer Price Index (CPI) rose by 3.5% year-over-year (YoY) in July, compared to a 3.8% growth reported in June, the latest data published by the Australian Bureau of Statistics (ABS) showed on Wednesday.
USD/CAD Price Forecast: Bearish indicators keep the path tilted lower
USD/CAD edges lower on Tuesday, with the Canadian Dollar (CAD) drawing support from a weaker US Dollar (USD) as traders also assess the latest tit-for-tat tariff measures between the United States (US) and Canada. At th…
The US Dollar Index stops paying for hawks who cannot vote
A non-voting regional Federal Reserve president published a conditional hold on Tuesday, tying the current target range to continued evidence that inflation is actually coming down, and the Dollar Index has not moved fo…
Forex Today: US Dollar stays on the back foot ahead of PCE
The US Dollar Index (DXY) is hovering below the 99.00 mark as traders squared positions ahead of a heavy Wednesday data slate and Federal Reserve (Fed) Chair Kevin Warsh's Jackson Hole address on Friday. The move was mo…
Euro remains flat with Sterling despite upbeat German data
EUR/GBP traded around 0.8560 on Tuesday, little changed, as a run of stronger German data failed to give the Euro (EUR) a clear lift against a resilient Pound. The pair remains pinned near its 20 and 100-period Simple M…