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Equities: Stagflation hit and chip-sector divergence – Deutsche Bank
Deutsche Bank strategists report that United States (US) equities weakened under a stagflationary backdrop. The S&P 500 fell with broad-based losses, while the Philly semiconductor index outperformed strongly.
British Pound: Flexible BoE stance supports against US Dollar – BNY
BNY Mellon’s Geoff Yu notes that reduced Bank of England (BoE) tightening expectations are not undermining the British Pound (GBP).
EUR/GBP Price Forecast: Languishes below 0.8550 with bullish attempts subdued
The Euro (EUR) keeps treading water right above one-year lows against the British Pound (GBP) on Thursday. The EUR/GBP is trading flat in the area of 0.8530 at the time of writing, weighed by rising tensions between the US and Iran and the rebound in oil prices.
AUD/USD Price Forecast: 0.6860 is key support level amid geopolitical risks
The Australian Dollar (AUD) trades marginally higher at around 0.6935 against the US Dollar (USD) during the European trading session on Thursday.
Germany Imports (MoM) came in at -2.5% below forecasts (0.1%) in May
Germany Imports (MoM) came in at -2.5% below forecasts (0.1%) in May
Germany Trade Balance s.a. registered at €19.1B above expectations (€14.8B) in May
Germany Trade Balance s.a. registered at €19.1B above expectations (€14.8B) in May
Germany Exports (MoM) above expectations (-0.3%) in May: Actual (0.9%)
Germany Exports (MoM) above expectations (-0.3%) in May: Actual (0.9%)
GBP/USD Price Forecast: Holds a constructive bullish tone above 1.3400 as UK political risk eases
The GBP/USD pair trades in positive territory around 1.3405 during the early European trading hours on Thursday. Fading political uncertainty in the United Kingdom (UK) provides some support to the British Pound (GBP) against the US Dollar (USD).
BoJ maintains assessment for all 9 Japanese regionsÂ
The Bank of Japan (BoJ) latest quarterly report showed on Thursday that there's no change to the overall assessment for all 9 Japanese regions. Most regional economies are seen as "recovering moderately" still.
Euro strengthens ahead of Germany’s Trade Balance data
EUR/USD extends its gains for the second successive day, trading around 1.1430 during the Asian hours on Thursday. The Euro (EUR) receives support against the US Dollar (USD) ahead of Germany’s Trade Balance data release later in the day.
AUD/JPY Price Forecast: Weakens to near 112.50, but uptrend remains constructive
The AUD/JPY cross trades in negative territory around 112.62 during the early European trading hours on Thursday.
Japanese Yen bulls seem hesitant as US-Japan rate gap counters intervention risks
The USD/JPY pair edges lower during the Asian session on Thursday and, for now, seems to have snapped a four-day winning streak, though it lacks bearish conviction. Spot prices currently trade just below mid-162.00s and remain within striking distance of a four-decade high touched last Wednesday.
Indonesian Rupiah weakens following Retail Sales data
USD/IDR extends its gains for the second successive day, trading around 18,140 during the Asian hours on Thursday. The Indonesian Rupiah (IDR) holds losses following Retail Sales, which fell 3.9% year-over-year in May, against the previous decline of 3.7%.