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Euro drifts away from 184.00 Yen despite hot German inflation figures
The Euro (EUR) is paring previous gains against the Japanese Yen (JPY) on Wednesday, weighed by a mild risk-off market mood as tensions in the Middle East grow.
Germany 30-y Bond Auction increased to 3.65% from previous 3.64%
Germany 30-y Bond Auction increased to 3.65% from previous 3.64%
Australian Dollar: Upside risk intact above support against US Dollar – UOB
UOB’s Quek Ser Leang and Lee Sue Ann note AUD/USD rebounded to close around 0.7062 after the RBA left its cash rate at 4.35%. Intraday, they see scope for the Australian Dollar to edge higher, though a sustained break above 0.7075 is unlikely.
Canadian Dollar: Looks to extend recovery against US Dollar – Societe Generale
Societe Generale’s Kenneth Broux highlights that the Canadian Dollar has recovered to its strongest level in two months, with USD/CAD mean‑reverting to 1.3933 from 1.4248.
Euro moves little against Canadian Dollar following German HICP data
EUR/CAD remains steady after five days of losses, trading around 1.6070 during the European hours on Wednesday. The currency cross moves little as the Euro (EUR) holds ground following the release of Germany’s Harmonized Index of Consumer Prices (HICP) data.
British Pound holds steady above 1.3500 vs USD as traders eye US CPI ahead of UK GDP
The GBP/USD pair extends its sideways consolidation around the 1.3500 psychological mark through the first half of the European session on Wednesday. Traders opt to wait on the sidelines ahead of important macro data from the US and the UK.
British Pound: Budget uncertainty leaves Sterling vulnerable against Euro - Rabobank
Rabobank's Senior FX Strategist Jane Foley outlines a cautious stance on UK fiscal prospects and their impact on EUR/GBP. The Burnham government’s planned flexibility in fiscal rules and higher infrastructure spending could mean more gilt supply and tax speculation.
Japanese Yen: Remains vulnerable against US Dollar - UOB
UOB’s Quek Ser Leang and Lee Sue Ann observe USD/JPY consolidating near 159.25 after Monday’s sharp rise, with intraday trade expected between 158.95 and 159.60. While momentum is strong, deeply overbought conditions limit upside beyond 159.60.
Swiss Franc weakens against US Dollar with US Inflation in focus
The Swiss Franc (CHF) is down against its major currency peers during the European trading session on Wednesday. As of writing, USD/CHF trades 0.17% higher at around 0.8125.
Mexican Peso: Bullish trend resumes against US Dollar - Societe Generale
Societe Generale’s Kenneth Broux highlights that USD/MXN failed to clear its 200‑day moving average, keeping downside momentum intact. The pair is attempting to break the lower end of a multi‑month range, with resistance at 17.17 and projected downside objectives at 16.65 and 16.50/16.25.
US CPI data set to show softer inflation in July as markets reassess Fed rate hike bets
The US Bureau of Labor Statistics (BLS) will publish the July Consumer Price Index (CPI) data on Wednesday. The report is expected to show a small decline in consumer inflation and core inflation.Â
Brazilian Real: Politics weighs but carry supports – ING
ING’s Chris Turner reports the Brazilian Real (BRL) underperformed in an otherwise supportive carry environment after a bank downgraded Brazilian equities and a new poll showed President Lula widening his lead ahead of October elections.
Indian Rupee: CPI and RBI repo rate risk skew higher – MUFG
MUFG’s Michael Wan notes India’s Consumer Price Index (CPI) is expected to edge up to 4.4% year-on-year from 4.3%. Reserve Bank of India (RBI) Governor Sanjay Malhotra said inflation is largely under control, supporting expectations for rates to stay on hold near term.