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Australian Dollar: Gradual gains against US Dollar remain likely – MUFG
MUFG’s Michael Wan reports the Reserve Bank of Australia kept its policy rate at 4.35% in a unanimous decision. AUD/USD initially dipped on the statement but later rebounded as Governor Bullock reiterated hawkish inflation concerns.
Japanese Yen: Intervention doubts as flows favor US Dollar – BNY
BNY’s Wee Khoon Chong highlights that institutional investors bought Dollar and sold Japanese Yen after the June BoJ hike, and again following late-July joint intervention to weaken USD/JPY. Despite official action, real money treated the move as a USD/JPY buying opportunity.
New Zealand Dollar slides as Middle East tensions give US Dollar the upper hand
NZD/USD extends its decline for a third consecutive day on Wednesday and trades around 0.5860 at the time of writing, down 0.28% on the day.
Why is the Japanese Yen stuck near 159.25 after the first joint US-Japan intervention since 2011?
The Japanese Yen (JPY) continues to navigate complex market dynamics, consolidating near the 159.25 level against the US Dollar (USD) following a sharp upward push.
EUR/USD Price Forecast: Biding its time near 1.1550, awaiting US CPI numbers
The Euro (EUR) nurses marginal gains against the US Dollar (USD) on Wednesday, with the EUR/USD pair flattening just below the 1.1550 level during the European trading session.
GBP/JPY Price Forecast: Recovery stalls below the 50-day SMA
GBP/JPY holds firm on Wednesday, trading within Monday’s range as the Japanese Yen (JPY) stays on the back foot, having given up nearly half of the gains triggered by the joint US-Japan intervention. At the time of writing, the cross trades around 215.12, virtually unchanged on the day.
British Pound: Strong Q2 may give way to flat growth - TD Securities
TD Securities strategists expect United Kingdom (UK) June Gross Domestic Product (GDP) data to show a reversal of May’s strength in professional services, offsetting solid retail sales and leaving the Index of Services flat, with modest industrial weakness keeping monthly GDP at 0.0% m/m.
Germany Current Account n.s.a.: €19B (June) vs €10.4B
Germany Current Account n.s.a.: €19B (June) vs €10.4B
Iran confirms no discussions over US-Iran ceasefire extension for now - Reuters
According to a senior Iranian source, there are no discussions about extending the ceasefire between Iran and the US, Reuters reported.
United States MBA Mortgage Applications up to 3.6% in August 7 from previous -2.9%
United States MBA Mortgage Applications up to 3.6% in August 7 from previous -2.9%
Yen attempts to bounce up from 159.45 lows ahead of the US inflation release
The Japanese Yen (JPY) is one of the best performers in an unusually low-volatility market on Wednesday, picking up to levels near 159.00 against the US Dollar, after hitting support in the 159.45 area.
Indian inflation accelerates to 4.45% in July, slightly below expectations
Inflation in India accelerates slightly in July, while remaining close to market expectations. The Consumer Price Index (CPI), released on Wednesday by the Ministry of Statistics and Programme Implementation (MoSPI), rises 4.45% YoY in July, compared with 4.38% in June.
Australian Dollar outperforms despite RBA’s hawkish tone fails to sway markets
The Australian Dollar (AUD) is up against its major currency peers, trading marginally higher at around 0.7068 against the US Dollar (USD) during the European trading session.