Market News
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Indian Rupee: RBI stance and inflows support Rupee – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad reports USD/INR is firmer after recently testing a one‑month low, following the Reserve Bank of India’s (RBI) unanimous decision to keep its policy rate at 5.25% and maintain a neutral bias.
Brazilian Real: Limited policy easing caps FX impact – Commerzbank
Commerzbank’s Norman Liebke notes that markets expect a further 25 bps cut from the Brazilian Central Bank (BCB), but real rates would remain highly restrictive near 9.4%.
Canadian Dollar firms as Oil rebounds, USD softens on weaker ADP data
USD/CAD trades around 1.4040 on Wednesday at the time of writing, down 0.14% on the day, as the Canadian Dollar (CAD) benefits from a rebound in Oil prices.
Japanese Yen edges higher after weak US employment data
USD/JPY trades under modest pressure on Wednesday as easing tensions in the Middle East and weaker US labour market data weigh on the US Dollar (USD). At the time of writing, the pair trades around 157.45, down 0.2% on the day.
New Zealand Dollar: RBNZ seen hiking again – TD Securities
TD Securities reviews New Zealand’s Q2 labour report, noting unemployment rose to 5.6%, an 11‑year high, partly on higher participation, while employment still grew 0.5% quarter‑on‑quarter. Private-sector wages slightly beat consensus and the RBNZ’s May forecast.
Fed's Kashkari: Not calling for dramatic increase in rates
In an interview with CNBC on Wednesday, Minneapolis Federal Reserve (Fed) Bank President Neel Kashkari explained that he is not calling for a dramatic increase in interest rates.
Japanese Yen: US trade focus shapes intervention – Societe Generale
Societe Generale’s Kit Juckes, drawing on Scott Bessent’s perspective, argues that recent coordinated US-Japan action in the Japanese Yen is part of a broader US trade strategy.
United States ADP Employment Change below forecasts (70K) in July: Actual (44K)
United States ADP Employment Change below forecasts (70K) in July: Actual (44K)
Copper: Tight supply supports breakout above $14,000 – ING
ING’s Warren Patterson and Ewa Manthey highlight that Copper has surged above $14,000 per tonne on the LME, driven by tightening physical conditions and strong prompt demand.
EUR/USD Price Forecast: Trades near crucial level of 1.1550
The Euro (EUR) trades 0.15% higher at around 1.1550 against the US Dollar (USD) during the European trading session on Wednesday. The major currency pair gains as the US Dollar faces selling pressure ahead of a busy North American session.
Euro: PMI resilience tempers stagflation fears – BNY
BNY’s Geoff Yu notes Eurozone PMIs have surprised to the upside, with the composite at an eight‑month high and services back in expansion, easing immediate stagflation worries.
United States MBA Mortgage Applications increased to -2.9% in July 31 from previous -6.4%
United States MBA Mortgage Applications increased to -2.9% in July 31 from previous -6.4%
British Pound extends gains to 212.50 against the Yen after upbeat UK services data
The British Pound (GBP) extends gains for the second consecutive day against the Japanese Yen (JPY) on Wednesday, with the GBP/JPY pair holding around 212.30 after bouncing from five-month lows at 209.55 on Monday.