Scotiabank strategists Shaun Osborne and Eric Theoret note the Japanese Yen (JPY) is only fractionally weaker versus the Dollar (USD) but is outperforming across G10 crosses, reflecting market caution over potential official intervention.
Gold (XAU/USD) price collapses by over 3% on Wednesday during the North American session amid broad US Dollar strength, despite US Treasury yields tumble on speculation that the reopening of the Strait of Hormuz could ease inflationary pressures.
MUFG’s Lloyd Chan notes that MYR has underperformed since the June FOMC as higher US yields and wider US-Malaysia rate differentials weigh on the currency.
The Dow Jones Industrial Average (DJIA) pushed into fresh record territory again on Wednesday, but the way it got there is worth a second look. The index added roughly 1% and closed near 52,200, just below the all-time high around 52,300.
Russia Industrial Output came in at -0.7%, below expectations (1.6%) in May
The Swiss Franc (CHF) slides to its weakest level in more than ten months on Wednesday as hawkish Federal Reserve (Fed) outlook boosts the US Dollar (USD). At the time of writing, USD/CHF trades around 0.8126, extending its gains for a sixth consecutive day.
The Japanese Yen (JPY) registers minimal losses against the US Dollar (USD) on Wednesday amid mixed risk appetite, with global equities fluctuating between gains and losses, while investors continue to monitor developments in the Middle East.
Scotiabank strategists Shaun Osborne and Eric Theoret report the British Pound (GBP) is softer against the US Dollar (USD) but relatively resilient versus G10 peers, with declines tied to shifting Fed expectations and softening United Kingdom (UK) yields after moderating inflation and a weak service
EUR/USD extends its decline on Wednesday and trades around 1.1340 at the time of writing, down 0.39% on the day, as the US Dollar (USD) benefits from renewed support driven by expectations of additional monetary tightening in the United States (US).
ABN AMRO economists Bill Diviney and Larissa de Barros Fritz assess the economic and market implications of UK Prime Minister Starmer’s resignation and the likely succession of Andy Burnham.
The AUD/USD pair remained under pressure, trading at 0.6890 near a three-month low on Wednesday as investors assessed Australia’s latest inflation figures and now focus on the upcoming United States (US) Personal Consumption Expenditures Price Index (PCE), the Federal Reserve’s preferred inflation g
Gold (XAU/USD) falls on Wednesday, hitting a fresh seven-month low as hawkish Federal Reserve (Fed) expectations and a stronger US Dollar (USD) keep the precious metal under pressure.
