Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
Canada: Energy-led CPI pullback supports BoC ā TD Securities
TD Securitiesā Robert Both expects Canadian headline CPI to ease to 2.9% year-on-year in June, with a 0.2% monthly decline driven by sharply lower Energy prices.
Gold: Rally stalls as Fed outlook stays hawkish ā Commerzbank
Thu Lan Nguyen at Commerzbank notes that weaker United States (US inflation data briefly supported Gold, but the price has slipped back below USD 4,000 per troy ounce.
EUR/GBP Price Forecast: RSI flirts with oversold territory as bears defend key resistance
EUR/GBP edges higher on Friday, extending gains for a second consecutive day as traders cover short positions following the midweek sell-off. At the time of writing, the cross trades around 0.8501 but is still on track for a fourth straight weekly loss.
Canadian Dollar: Bullish bias with 1.3981 in focus against US Dollar ā Scotiabank
Scotiabankās Shaun Osborne and Eric Theoret highlight the Canadian Dollar (CAD) as a modest outperformer, with firmer Oil offsetting weak equities and narrowing front-end spreads driving gains. Position adjustment after heavy CAD short-building is adding tailwinds.
United States Michigan Consumer Expectations Index: 54 (July) vs 50.7
United States Michigan Consumer Expectations Index: 54 (July) vs 50.7
United States UoM 1-year Consumer Inflation Expectations: 4.2% (July) vs previous 4.6%
United States UoM 1-year Consumer Inflation Expectations: 4.2% (July) vs previous 4.6%
United States UoM 5-year Consumer Inflation Expectation: 3.3% (July)
United States UoM 5-year Consumer Inflation Expectation: 3.3% (July)
United States Michigan Consumer Sentiment Index came in at 54.4, above expectations (51) in July
United States Michigan Consumer Sentiment Index came in at 54.4, above expectations (51) in July
US Dollar: Low volatility risks and summer outlook ā ING
ING strategists Francesco Pesole and Frantisek Taborsky note that DXY-weighted short-term implied volatility has dropped to 2021 levels, despite geopolitical tensions and Federal Reserve risks. Pesole argues that AI-driven equity resilience is anchoring currencies and supporting carry trades.
United Kingdom: Supply-side choices shape outlook ā Rabobank
Rabobankās Global Daily, titled āTo govern is to chooseā, discusses the UKās political and macroeconomic backdrop as Labourās Andy Burnham is set to become prime minister.
European Central Bank: Holds fire as September stays live ā TD Securities
TD Securities strategists expect the European Central Bank (ECB) to keep the deposit rate at 2.25% in July after Juneās hike, with September remaining a live meeting.
United States Capacity Utilization came in at 76.1%, below expectations (76.2%) in June
United States Capacity Utilization came in at 76.1%, below expectations (76.2%) in June
United States Industrial Production (MoM) registered at 0.1%, below expectations (0.2%) in June
United States Industrial Production (MoM) registered at 0.1%, below expectations (0.2%) in June