Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
Eurozone CFTC EUR NC Net Positions: €-59.1K vs €-60K
Eurozone CFTC EUR NC Net Positions: €-59.1K vs €-60K
United States CFTC S&P 500 NC Net Positions declined to $-10.6K from previous $11.3K
United States CFTC S&P 500 NC Net Positions declined to $-10.6K from previous $11.3K
United States CFTC Gold NC Net Positions increased to $222.2K from previous $217.9K
United States CFTC Gold NC Net Positions increased to $222.2K from previous $217.9K
United Kingdom CFTC GBP NC Net Positions: £-54.6K vs £-56.2K
United Kingdom CFTC GBP NC Net Positions: £-54.6K vs £-56.2K
Japan CFTC JPY NC Net Positions: ¥-52.9K vs previous ¥-42.1K
Japan CFTC JPY NC Net Positions: ¥-52.9K vs previous ¥-42.1K
Australia CFTC AUD NC Net Positions dipped from previous $-39.2KÂ to $-44.2K
Australia CFTC AUD NC Net Positions dipped from previous $-39.2KÂ to $-44.2K
Malaysian Ringgit: Supported by strong fundamentals against US Dollar – OCBC
OCBC’s Sim Moh Siong and Christopher Wong stress that the Malaysian Ringgit (MYR) remains relatively well supported by a softer US Dollar (USD) and robust domestic fundamentals.
Singapore: inflation and production outlook – DBS
DBS economists Taimur Baig and Radhika Rao project Singapore’s headline and core inflation will rise in July to 2.4% and 2.3% year-on-year, respectively, driven by higher energy and food costs.
Silver Price Forecast: XAG bulls test $70 as rally extends
Silver (XAG/USD) prices rally for the third straight day on Friday, up more than 2% and, for the week, gains over 7.40%, as a firm US Dollar (USD) is not an excuse for precious metals buyers, who are choosing flight-to-quality over haven demand due to the difficult US fiscal stance.
Gold hits three-month peak above $4,600 as Middle East risks fuel rally
Gold price hits a three-month high and is poised to end the week with gains of over 5.6%, even though business activity in the services sector in the US was solid. Recent developments in the Middle East and a softer US Dollar underpin the yellow metal, which has surpassed the $4,600 threshold.
EUR/USD Price Forecast: Bulls test 1.1700 as RSI turns overbought
EUR/USD heads for a fourth consecutive weekly gain on Friday, although it has erased its earlier intraday advance. At the time of writing, the pair trades around 1.1682 after briefly rising above 1.1700, its highest level since May 14.
Germany: Ifo sentiment seen weakening on Iran war – Commerzbank
Commerzbank economists Christoph Balz and Ralph Solveen expect the Ifo Business Climate Index to slip from 86.6 to 86.0 in August as renewed Iran war concerns and higher energy prices weigh on expectations.
Higher yields stop paying the Dollar Index
The Dollar Index trades just beneath 99.00 and unchanged on the session, with the entire day fitting inside 35 pips between the 98.50 area and a high that stopped a shade short of the handle.