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Yemen's Houthis mulls imposing fees on vessels transiting Southern Red Sea route
According to a Reuters report, Yemen's Houthis are considering imposing fees on commercial ships sailing through the Southern Red Sea. The report also shows that Houthis might exempt China's shipping fleet from any fee system.
EUR/GBP Price Forecast: Eases from 0.8575 resistance with the bullish bias intact
The Euro (EUR) is nursing moderate losses against the British Pound (GBP) on Wednesday, as bulls failed to find acceptance above the 0.8575 resistance area on Tuesday.
Federal Reserve: Extended pause guidance – UOB
UOB Global Economics & Markets Research notes that the Federal Reserve is widely expected to keep the Federal Funds Target Rate at 3.50%-3.75% at the July FOMC meeting.
Canadian Dollar: BoC minutes watched for inflation tone – TD Securities
TD Securities strategists expect the Bank of Canada’s (BoC) Summary of Deliberations to shed light on the July decision, focusing on how policymakers view inflation amid recent energy price moves and Consumer Price Index (CPI) forecast revisions.
Euro: Seen back toward 1.15 against US Dollar – ING
ING’s Francesco Pesole notes that EUR/USD may have bottomed last week if markets maintain a constructive view on further geopolitical de-escalation. He argues a sustained move above 1.15 still requires dovish Federal Reserve (Fed) repricing and stabilised risk sentiment.
Swiss Franc: Policy gap favours further losses against Euro – MUFG
MUFG’s Lee Hardman reports that the Swiss Franc (CHF) continues to weaken versus the Euro, with EUR/CHF reaching new highs as widening yield differentials favour the Euro.
Germany 10-y Bond Auction up to 3.13% from previous 3.09%
Germany 10-y Bond Auction up to 3.13% from previous 3.09%
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data. Silver trades at $57.92 per troy ounce, up 1.36% from the $57.14 it cost on Tuesday.
GBP/USD Price Forecast: Near-term bias remains bearish ahead of Fed-BoE policy
The British Pound (GBP) is marginally higher at around 1.3300 against the US Dollar (USD) during the European trading session on Wednesday. The GBP/USD pair edges up as the US Dollar ticks lower ahead of the Federal Reserve’s (Fed) monetary policy announcement at 18:00 GMT.
Dow Jones futures gain ahead of Fed policy decision
Dow Jones futures gain 0.11% to trade around 53,000 during European trading hours on Wednesday. Meanwhile, S&P 500 futures rise 0.16% to trade near 7,480, though Nasdaq 100 futures decline 0.17%, trading near 27,870, respectively.
Australian Dollar: Softer inflation supports RBA pause – Commerzbank
Commerzbank’s Volkmar Baur notes that weaker-than-expected Australian inflation has sharply reduced market-implied odds of an August RBA rate hike and pushed the AUD lower.
ECB’s Patsalides: If higher oil prices persist, inflation risks rise
The remarks from European Central Bank (ECB) policymaker and Governor of the Central Bank of Cyprus, Christodoulos Patsalides, released during the European trading session on Wednesday signal a warning of further acceleration in inflationary pressures if oil prices remain higher.
Belgium Gross Domestic Product (QoQ) down to 0% in 2Q from previous 0.2%
Belgium Gross Domestic Product (QoQ) down to 0% in 2Q from previous 0.2%