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New Zealand Dollar advances above 0.5700 on RBNZ hawkish stance
The NZD/USD pair gains momentum to around 0.5735 during the early European session on Thursday. The New Zealand Dollar (NZD) strengthens against the US Dollar (USD) on a hawkish interest rate hike from the Reserve Bank of New Zealand (RBNZ).
Equities: Stagflation hit and chip-sector divergence – Deutsche Bank
Deutsche Bank strategists report that United States (US) equities weakened under a stagflationary backdrop. The S&P 500 fell with broad-based losses, while the Philly semiconductor index outperformed strongly.
British Pound: Flexible BoE stance supports against US Dollar – BNY
BNY Mellon’s Geoff Yu notes that reduced Bank of England (BoE) tightening expectations are not undermining the British Pound (GBP).
EUR/GBP Price Forecast: Languishes below 0.8550 with bullish attempts subdued
The Euro (EUR) keeps treading water right above one-year lows against the British Pound (GBP) on Thursday. The EUR/GBP is trading flat in the area of 0.8530 at the time of writing, weighed by rising tensions between the US and Iran and the rebound in oil prices.
Oil: Risk premium returns on Gulf supply concerns – Commerzbank
Commerzbank’s Thu Lan Nguyen argues that recent US policy towards Iran has reversed market expectations of a rapid normalisation in Gulf energy supplies, challenging earlier pricing of an Oil supply glut.
AUD/USD Price Forecast: 0.6860 is key support level amid geopolitical risks
The Australian Dollar (AUD) trades marginally higher at around 0.6935 against the US Dollar (USD) during the European trading session on Thursday.
Germany Trade Balance s.a. registered at €19.1B above expectations (€14.8B) in May
Germany Trade Balance s.a. registered at €19.1B above expectations (€14.8B) in May
Germany Imports (MoM) came in at -2.5% below forecasts (0.1%) in May
Germany Imports (MoM) came in at -2.5% below forecasts (0.1%) in May
Germany Exports (MoM) above expectations (-0.3%) in May: Actual (0.9%)
Germany Exports (MoM) above expectations (-0.3%) in May: Actual (0.9%)
GBP/USD Price Forecast: Holds a constructive bullish tone above 1.3400 as UK political risk eases
The GBP/USD pair trades in positive territory around 1.3405 during the early European trading hours on Thursday. Fading political uncertainty in the United Kingdom (UK) provides some support to the British Pound (GBP) against the US Dollar (USD).
Indian Rupee regains ground despite higher oil prices
The Indian Rupee (INR) opens higher against the US Dollar (USD) on Thursday. The USD/INR pair drops to near 95.40 as the US Dollar ticks lower; however, the outlook of the pair remains bullish as renewed Middle East hostilities have boosted oil prices.
BoJ maintains assessment for all 9 Japanese regionsÂ
The Bank of Japan (BoJ) latest quarterly report showed on Thursday that there's no change to the overall assessment for all 9 Japanese regions. Most regional economies are seen as "recovering moderately" still.
United States Dollar Index stays pressured near 101.00 as Fed bets/Iran risks limit losses
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, trades with a negative bias for the second straight day, though it remains confined within the previous day's range through the Asian session on Thursday.