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EUR/USD: Downside risks toward 1.10 – ING
ING’s Francesco Pesole highlights that divergent central bank rhetoric between the Federal Reserve and European Central Bank is weighing on the Euro against the Dollar. Wider two-year swap differentials favour USD, leaving EUR/USD at risk of testing 1.100 in coming days. ING expects that level to offer solid support, arguing a decisive break below 1.100 would likely require markets to price a 50bp Fed hike in December.
Silver Price Forecast: XAG/USD slips below $51.50 ahead of US key economic data
Silver price (XAG/USD) depreciates after posting modest gains in the previous day, trading around $51.40 per troy ounce during the European hours on Thursday. Dollar-denominated Silver falls as a stronger US Dollar (USD) weighs on the precious metal.
Euro finds temporary support near 1.1066 against US Dollar, outlook remains uncertain
The Euro (EUR) finds cushion after posting a fresh 18-month low near 1.1066 against the US Dollar (USD) during the day, trading almost flat at around 1.1090 in the European trade. The EUR/USD pair rebounds slightly on Thursday as the US Dollar gives back some of its early gains.
Japanese Yen decline halts a few pips shy of 160.00 as intervention risks grow
The Japanese Yen (JPY) trades practically flat against the US Dollar (USD) on Thursday, following a nearly 1.25% selloff over the previous two days, hammered by growing monetary policy divergence between the Federal Reserve (Fed) and the Bank of Japan (BoJ).
New Zealand Dollar depreciates as hawkish Fed rate hike bets lift US Dollar
NZD/USD loses ground for the third consecutive day, trading around 0.5550 during European hours on Thursday.
British Pound moves little after UK GDP as intervention risks support Yen
The GBP/JPY cross reverses a modest intraday dip, climbing back to the 212.00 mark during the early European session on Thursday, though it remains confined within a range held over the past week or so.
S&P 500: Tech rally offsets post‑CPI selloff – Deutsche Bank
Deutsche Bank’s Early Morning Reid highlights a sharp rebound in US equities, led by AI‑linked and semiconductor names after CoreWeave’s strong earnings. The Philly Semiconductor Index and Nasdaq surged, lifting the S&P 500 back above pre‑midterm levels.
US Dollar Index: Fed pricing supports renewed strength – Deutsche Bank
Deutsche Bank’s Jim Reid and colleagues highlight that Fed funds futures shifted in a more hawkish direction after the CPI release, lifting expectations for future rate hikes.
Euro remains almost stable against British Pound after strong UK GDP data
The Euro (EUR) remains steady at around 0.8350 against the British Pound (GDP) in the European trade on Thursday, as the latter trades almost stable after the release of the United Kingdom (UK) Q3 and September Gross Domestic Product (GDP) data.
British Pound remains depressed despite upbeat UK GDP and industrial output data
The British Pound (GBP) edged up against the Dollar (USD) following the release of UK Gross Domestic Product (GDP) and Industrial Production figures on Thursday, yet with the broader bearish trend practically intact.
Forex Today: US Dollar Index climbs to fresh 19-month high, Gold drops below $4,000
Here is what you need to know on Thursday, November 12:
Australian Dollar drops to fresh low since January, further below 0.6850 vs bullish USD
The AUD/USD pair drifts lower for the third straight day, also marking the fifth day of a negative move in the previous five, hitting a fresh low since January during the early European session on Thursday.
US Dollar Index Price Forecast: Rally likely extend towards 104.00
The US Dollar (USD) outperforms its major currency peers, except the Japanese Yen (JPY), on Thursday, amid fears that the Federal Reserve (Fed) could turn aggressive on its current monetary tightening cycle to contain elevated inflationary pressures.