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Gold Price Forecast: XAU/USD holds below $4,400 with Oil, yields surging
Gold (XAU/USD) edges lower on Thursday after failing to find acceptance above $4,400, with Oil prices nearing the key $100 level and global yields rallying ahead of a string of monetary policy decisions from most of the world’s major central banks.
Turkish Lira: Liquidity stance key for TRY – Commerzbank
Commerzbank’s Tatha Ghose expects the Central Bank of the Republic of Türkiye (CBRT) to keep the one-week repo rate at 37.0%, but stresses that effective monetary conditions depend on liquidity tools.
Czech Koruna: CNB stance leaves room for weakness against Euro – ING
ING’s Frantisek Taborsky notes that the Czech National Bank (CNB) blackout period has started, with Deputy Governor Zamrazilova signalling a preference to keep rates unchanged at next week’s meeting.
US Dollar: Bond buybacks reshape yield dynamics – MUFG
MUFG’s Lee Hardman notes that the US Dollar has softened over summer as the US Treasury’s announcement to at least double long-term bond buybacks undermined confidence while inflation risks rise.
Silver price today: Silver falls, according to FXStreet data
Silver prices (XAG/USD) fell on Thursday, according to FXStreet data. Silver trades at $66.68 per troy ounce, down 0.93% from the $67.31 it cost on Wednesday.
Brent: Geopolitical risk drives price surge – Deutsche Bank
Deutsche Bank’s Henry Allen and colleagues note Brent Oil has broken above $100 per barrel for the first time since July as US-Iran strikes escalate and concerns grow over the Strait of Hormuz reopening.
Euro: Second hike seen as energy clouds outlook – Societe Generale
Societe Generale’s Kenneth Broux expects a second 25bp ECB depo rate hike, stressing that wage dynamics and updated staff forecasts will determine how far tightening goes.
Euro remains steady vs Canadian Dollar ahead of key ECB decision
EUR/CAD trades around 1.6060 on Thursday at the time of writing, virtually unchanged on the day. The cross consolidates as investors refrain from taking large positions ahead of the European Central Bank’s (ECB) monetary policy decision, due at 12:15 GMT.
GBP/USD Price Forecast: Positions above 1.3550, nine-day EMA support
GBP/USD remains stronger for the fourth successive day, trading around 1.3550 during the European hours on Thursday. The pair is maintaining a modest bullish bias as it holds above both the nine- and 50-day Exponential Moving Averages (EMAs).
USD/JPY Price Forecast: Trades above 153.50 ahead of US inflation; bearish bias remains
The USD/JPY pair seesaws between tepid gains and minor losses through the first half of the European session on Thursday, consolidating its recent heavy losses to a nearly seven-month low, touched earlier this week.
Greece Industrial Production (YoY): -1.2% (July) vs previous 1.1%
Greece Industrial Production (YoY): -1.2% (July) vs previous 1.1%
Swiss Franc gives back gains, but US Dollar struggles with Inflation data on tap
The Swiss Franc (CHF) has given back previous daily gains against the US Dollar (USD) in a calm trading session on Thursday, as the USD/CHF pair returned above 0.8100, although it remains halfway through the weekly trading range.
EUR/USD Price Forecast: Consolidates around 1.1640 in countdown to ECB’s policy decision
The Euro (EUR) trades in a tight range at around 1.1640 against the US Dollar (USD) during the European trading session on Thursday. The major currency pair consolidates as investors await the European Central Bank’s (ECB) monetary policy decision, which will be announced at 12:15 GMT.