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Euro: Knot signals ECB readiness for new tools – Rabobank
Rabobank’s Global Daily flags comments from Dutch European Central Bank (ECB) presidential candidate Klaas Knot, who told the Financial Times that the ECB would not hesitate to act if circumstances require.
Federal Reserve: December rate hike expectations reinforced – Commerzbank
Commerzbank’s Dr. Christoph Balz highlights that persistent US inflation keeps pressure on the Federal Reserve to tighten further.
ECB’s Nagel: German growth likely to accelerate in Q4
The comments from Bundesbank President Joachim Nagel, also a member of the European Central Bank (ECB) Governing Council, released during the European trading session on Wednesday, signaled that he is optimistic on German economic growth in the last quarter this year.
EUR/GBP Price Forecast: Euro stalls below 0.8370 as Crude recovery weighs
The Euro (EUR) trades practically flat against the British Pound (GBP) on Wednesday, as the rebound in Oil prices is offsetting the positive risk sentiment. The EUR/GBP pair holds above the top of the previous trading range, at 0.8360 so far, but remains unable to find acceptance above 0.8370.
US Dollar Index Price Forecast: Eyes symmetrical triangle top at 102.50
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is gaining ground for the second successive day and trading near 102.40 during the European hours on Wednesday.
Forex Today: US Dollar shows resilience after US inflation data
Here is what you need to know on Wednesday, November 11:
USD/CAD Price Forecast: Debate over size of Fed’s next rate hike backs further upside
The Canadian Dollar (CAD) continues to under perform the US Dollar (USD) due to multiple headwinds. Lower oil prices due to United States (US)-Iran deal hopes and fresh fears of aggressive Federal Reserve (Fed) monetary tightening have strengthened the USD/CAD pair.
Australian Dollar lacks bullish conviction as Fed hike bets continue to support USD
The AUD/USD pair gains some positive traction on Wednesday and moves away from its lowest level since late March, near the 0.6845-0.6840 zone set the previous day.
Euro remains on its back foot as German CPI confirms easing price pressures
The Euro (EUR) extends losses against the US Dollar (USD) for the second consecutive day, on Wednesday, failing to find support in the final German inflation release.
Swiss Franc declines amid divergent Fed-SNB rate outlooks
USD/CHF extends its gains for the second consecutive day, trading around 0.8260 during early European hours on Wednesday. The currency pair continues to appreciate as the US Dollar (USD) remains firm following the latest US inflation report.
WTI Price Forecast: Clings to gains above mid-$85.00s; bearish potential seems intact
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts some buyers on Wednesday, looking to extend the previous day's goodish rebound from the $83.00 neighborhood, or its lowest level since late August.
USD/JPY Price Forecast: Eyes seven-week consolidation breakout
The Japanese Yen (JPY) trades weakly against the US Dollar (USD) on Wednesday, with the USD/JPY pair hovering near its almost seven-week high of around 159.00.
Indian Rupee rallies as FIIs make strong comeback to Indian stock market
The Indian Rupee (INR) continues to outperform the US Dollar (USD) on the back of significant inflow of foreign funds into the Indian stock market and a continued decline in oil prices. As of writing, the USD/INR pair posts a fresh five-month low near 93.70.