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EUR/USD Price Forecast: Euro wavers around 1.1430 with the bearish trend intact
The Euro (EUR) posts moderate gains against the US Dollar (USD) on Thursday, hitting session highs near 1.1440, yet trapped within the weekly range, with the broader bearish trend in play.
British Pound extends rally vs JPY; climbs to fresh high since January 2008
The GBP/JPY cross builds on the previous day's strong positive momentum and gains traction for the second successive day on Thursday.
Australian Dollar: Tentative upside risk above 0.6980 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang sees AUD/USD confined to a 0.6915–0.6950 intraday range as momentum remains lacklustre. For 1–3 weeks, upward momentum is tentatively building, with rising risk of a break above 0.6980 while 0.6900 acts as strong support.
Forex Today: Markets overlook escalating tensions in Middle East
Here is what you need to know on Thursday, July 9:
New Zealand Dollar: Firm as RBNZ signals more tightening – DBS
Philip Wee from DBS Group Research reports NZD/USD is holding firm above 0.57 after the Reserve Bank of New Zealand unanimously voted to lift the Official Cash Rate by 25 bps to 2.50%, a shift from May’s split decision.
USD/CAD Price Forecast: Hovers above 1.4150 as bullish bias prevails
USD/CAD moves sideways after two days of losses, trading around 1.4170 during the European hours on Thursday. The technical analysis of the daily chart indicates the pair is remaining within the ascending channel pattern, indicating a persistent bullish bias.
Oil: Rising geopolitical risks and Russian diesel ban – ING
ING analysts Warren Patterson and Ewa Manthey note that Oil has extended its rally as renewed US-Iran tensions threaten the fragile ceasefire and disrupt flows through the Strait of Hormuz.
Qatar condemns Iran's attacks on ships, urges parties to commit to MoU
In a released statement from Qatar Prime Minister (PM) Sheikh Mohammed bin Abdulrahman Al Thani after a phone call with Iranian Foreign Minister (FM) Abbas Araghchi, AI Thani said that he discussed about latest military escalation in the Middle East between the United States (US) and Iran and condem
Euro: Hawkish Fed keeps gains contained against US Dollar – Commerzbank
Thu Lan Nguyen at Commerzbank notes that EUR/USD has traded in a narrow range and appears largely unaffected by Iran-related headlines, as the correlation with Oil has weakened.
US Dollar: Supported by higher yields and FOMC stance – MUFG
MUFG’s Lloyd Chan reports that June Federal Open Market Committee (FOMC) minutes show policymakers increasingly concerned that US inflation could stay elevated, with some seeing a case for a rate hike.
USD/CHF Price Forecast: Dollar bulls lose steam after rejection at 0.8100
The US Dollar is trading lower against the Swiss Franc (CHF) on Thursday, as investors ponder the consequences of reciprocal US and Iran attacks and a 10% rebound in Oil prices, on the major central banks' monetary policies.
Euro holds gains against Japanese Yen as Germany’s Trade Surplus widens in May
EUR/JPY extends its gains for the second successive day, trading around 185.70 during the early European hours on Thursday. The currency cross maintains its upward momentum following stronger-than-expected seasonally-adjusted Trade Balance data from Germany.
Silver Price Forecast: XAG/USD jumps to near $59 as US Dollar declines
Silver price (XAG/USD) is up over 1% to near $59.00 during the European trading session on Thursday. The white metal gains as the US Dollar (USD) faces selling pressure despite multiple tailwinds.