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AUD/USD Price Forecast: Extends the range play near 0.7050; bulls await 50% Fibo. breakout
The AUD/USD pair prolongs its consolidative price move for the third straight day and trades around mid-0.7000s through the early European session on Wednesday.
Japanese Yen: Policy focus after intervention - MUFG
MUFG’s Teppei Ino reviews recent USD/JPY price action following coordinated Japan-US intervention. The pair opened near 157.58, dropped toward 155.20 on official confirmation of joint action, then recovered and traded above 158 by 7 August.
GBP/USD Price Forecast: Continues to remain flat ahead of US CPI data
The British Pound (GBP) remains in a limited range at around 1.3500 against the US Dollar (USD) during the European trading session on Wednesday.
Forex Today: Crucial US inflation data to lift market volatility
Here is what you need to know on Wednesday, August 12:
Euro trims losses against the British Pound following hot German inflation data
The Euro (EUR) has picked up from session lows against the British Pound (GBP) on Wednesday as hot German inflation figures have partially offset a mild risk-off sentiment, amid flaring tensions in the Middle East.
Euro: Upside capped by key resistance against US Dollar – UOB
UOB’s Quek Ser Leang and Lee Sue Ann report EUR/USD holding near 1.1540 after a quiet session, with momentum indicators mostly flat. Intraday, they expect consolidation between 1.1530 and 1.1560, but a break above 1.1560 could trigger a quick move to 1.1580.
Germany Consumer Price Index (MoM) meets forecasts (0.8%) in July
Germany Consumer Price Index (MoM) meets forecasts (0.8%) in July
Germany Consumer Price Index (YoY) in line with expectations (2.8%) in July
Germany Consumer Price Index (YoY) in line with expectations (2.8%) in July
Germany Harmonized Index of Consumer Prices (YoY) meets expectations (2.8%) in July
Germany Harmonized Index of Consumer Prices (YoY) meets expectations (2.8%) in July
Germany Harmonized Index of Consumer Prices (MoM) meets expectations (0.9%) in July
Germany Harmonized Index of Consumer Prices (MoM) meets expectations (0.9%) in July
Indian Rupee rebounds on likely RBI's intervention, India's retail CPI rises in July
The Indian Rupee (INR) recovers early losses against the US Dollar (USD) on Wednesday due to likely Reserve Bank of India's (RBI) intervention in the market. At press time, USD/INR trades slightly lower to near 95.33.
EUR/JPY Price Forecast: Steadies near 184.00 amid neutral bias
EUR/JPY moves little for the second successive day, trading around 183.90 during the Asian hours on Wednesday. The currency cross is maintaining a mildly bearish near-term tone as it slips beneath the 50-day Exponential Moving Average (EMA) while holding above the shorter nine-day EMA.
Canadian Dollar eases from two-month high as USD preserves weekly gains ahead of US CPI
The USD/CAD pair ticks higher during the Asian session on Wednesday, snapping a three-day losing streak to the 1.3915 area or its lowest level since June 10. Spot prices, however, lack bullish conviction and trade around 1.3930, awaiting the release of the latest US inflation figures.