Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
Euro trims gains against the Japanese Yen but maintains a near-term bullish trend
The Euro (EUR) pulls back from intra-week highs just above 185.60 against the Japanese Yen (JPY) on Wednesday but maintains its immediate bullish bias, trading 0.5% higher on the week so far.
Canadian Dollar: BoC seen steady as Oil supports CAD – ING
ING’s Francesco Pesole expects the Bank of Canada to keep rates at 2.25%, with limited incentive to push back against modest December tightening pricing. He sees June CPI potentially falling below 3.0% as petrol prices drop, while core remains near 2.0%.
PBoC’s Deputy Governor: To continue to implement appropriately loose monetary policy
People’s Bank of China (PBoC) Deputy Governor said during the European trading session on Wednesday that the central bank remains committed to loose monetary policy conditions to support overall demand.
Australian Dollar: Upside momentum building toward 0.7015 against US Dollar – UOB
United Overseas Bank’s Quek Ser Leang and Lee Sue Ann note AUD/USD surged to 0.6992 after an earlier dip, with strong short-term momentum pointing to further gains. They see scope for a test of 0.6995, while the major resistance at 0.7015 is key.
GBP/JPY remains close to multi-year peak as UK-Japan rate gap and Iran risks undermine JPY
The GBP/JPY cross scales higher for the second straight day and climbs to a fresh weekly top, around the 217.70 region, during the first half of the European session on Wednesday.
Dow Jones futures edge lower as traders weigh on US-Iran tensions
Dow Jones futures inch lower by 0.04% to trade around 52,770 during European trading hours on Wednesday. Meanwhile, S&P 500 futures and Nasdaq 100 futures advance 0.19% and 0.79%, trading near 7,600 and 30,030, respectively.
Federal Reserve: Inflation scenarios guide rate path – ABN AMRO
ABN AMRO’s Rogier Quaedvlieg reviews the latest United States (US) Consumer Price Index (CPI) downside surprise and its implications for the Federal Reserve (Fed).
Forex Today: US Dollar retreats after soft inflation data, focus shifts to BoC rate decision
Here is what you need to know on Wednesday, July 15:
US Dollar: Support pillar weakens after CPI – MUFG
MUFG’s Derek Halpenny notes that weaker US CPI has sharply reduced market expectations for a Federal Reserve rate hike, undermining a key source of recent US Dollar strength.
WTI rises to near $79.50 amid intensifying US-Iran hostilities near Hormuz
West Texas Intermediate (WTI) oil price continues to gain ground for the third successive day, trading around $79.40 per barrel during the European session on Wednesday.
Euro gives away gains as Eurozone Industrial Production disappoints
The Euro (EUR) has given away previous gains against the US Dollar (USD) on Wednesday, with the EUR/USD pair retreating to levels just above 1.1420 from session highs near 1.1450.
New Zealand Dollar: RBNZ hawkish tone supports gains – OCBC
OCBC’s Sim Moh Siong and Christopher Wong highlight that the New Zealand Dollar (NZD) continues to outperform G10 peers, underpinned by hawkish Reserve Bank of New Zealand (RBNZ) rhetoric and improving domestic activity data.
China New Loans below expectations (2000B) in June: Actual (1610B)
China New Loans below expectations (2000B) in June: Actual (1610B)