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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.
US Dollar: Soft CPI risks weigh on outlook – ING
ING’s Chris Turner expects US July CPI to be the key driver for the Federal Reserve’s next move, with consensus looking for subdued headline and core readings that edge closer to the 2% target.
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.
United States Dollar Index trades calmly ahead of US Inflation data
The US Dollar (USD) reflects a sideways performance against its peers ahead of the United States (US) Consumer Price Index (CPI) data is scheduled to be published at 12:30 GMT.
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.
US Dollar: Inflation data and Middle East risks – Commerzbank
Commerzbank FX analyst Antje Praefcke notes that July US inflation is expected to rise only 0.1% month-on-month, with headline and core rates slipping to 3.4% and 2.5% year-on-year.
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%