Market News
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Silver Price Forecast: XAG/USD struggles to build momentum above $60.00
Silver (XAG/USD) trades with modest gains on Wednesday, supported by a slight pullback in the US Dollar (USD). However, the metal lacks strong upside momentum as traders weigh energy-driven inflation risks and their impact on the Federal Reserve’s (Fed) interest-rate outlook.
Euro gains against British Pound after mixed UK inflation report, ECB decision looms
EUR/GBP edges higher on Wednesday as a mixed UK inflation report weighs modestly on the British Pound (GBP). At the time of writing, the cross trades around 0.8533, extending its recovery after falling to its lowest level in more than a year earlier this month.
United States 20-Year Bond Auction: 5.163% vs 4.927%
United States 20-Year Bond Auction: 5.163% vs 4.927%
The Dow Jones Industrial Average rallies as escalation gets a price list
The Dow Jones Industrial Average (DJIA) trades near 52,400 on Wednesday, up around 200 points and on track for a second consecutive daily gain, while the S&P 500 hugs the flatline and the NASDAQ Composite slips into the red.
British Pound steadies as cooler UK CPI meets Oil shock
The Pound Sterling holds firm during the North American session as UK inflation data dipped, easing pressure on the Bank of England to tackle higher prices, while attacks between the US and Iran don’t seem to be ending in the Middle East. The GBP/USD trades at 1.3377.
Russia Producer Price Index (YoY) increased to 10.5% in June from previous 9.4%
Russia Producer Price Index (YoY) increased to 10.5% in June from previous 9.4%
Russia Producer Price Index (MoM) declined to -0.1% in June from previous 2.5%
Russia Producer Price Index (MoM) declined to -0.1% in June from previous 2.5%
Russia Industrial Output above expectations (0.1%) in June: Actual (0.6%)
Russia Industrial Output above expectations (0.1%) in June: Actual (0.6%)
Canadian Dollar finds support from rising Oil prices, softer Greenback
USD/CAD edges lower on Wednesday as a mildly softer US Dollar (USD) and rising Oil prices help the Canadian Dollar (CAD) snap a two-day losing streak. At the time of writing, the pair trades around 1.4085, down 0.16% on the day.
New Zealand Dollar weakens as risk aversion overshadows hawkish RBNZ outlook
NZD/USD trades around 0.5815 on Wednesday at the time of writing, down 0.16% on the day.
China: Fiscal execution to support growth – Standard Chartered
Standard Chartered economists Carol Liao and Shuang Ding argue that China’s July Politburo meeting will prioritise implementation of existing fiscal plans over new stimulus. They expect fiscal execution to accelerate in H2 after a marked slowdown following front-loaded Q1 spending.
Australian Dollar steadies ahead of Australian employment data
AUD/USD trades near 0.7000 on Wednesday, recovering from an intraday pullback but remaining marginally lower on the day. The pair briefly fell toward 0.6985 before rebounding, while the US Dollar Index (DXY) slipped toward 101.10, helping the Australian Dollar regain some ground.
Japanese Yen struggles near four-decade lows despite hawkish BoJ signals
The Japanese Yen (JPY) gives up earlier gains on Wednesday, failing to capitalize on hawkish signals from the Bank of Japan (BoJ) and a softer US Dollar (USD) as Middle East tensions keep markets on edge.