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Gold holds gains above $4,400 after US CPI meets expectations
Gold (XAU/USD) extends gains above $4,400 on Wednesday as traders digest US inflation data, which came broadly in line with expectations. At the time of writing, XAU/USD trades around $4,429, up 1.38% on the day.
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.
Euro: Soft US CPI could support gains against US Dollar – ING
Chris Turner at ING notes EUR/USD remains lacklustre despite better Eurozone data and upside surprises, as high European natural gas prices and Gulf tensions weigh on the Euro.
WTI reverses lower as huge US inventory build clashes with Hormuz supply fears
West Texas Intermediate (WTI) US Oil reverses lower on Wednesday and trades around $81.60 at the time of writing, down 0.77% on the day.
Portugal Consumer Price Index (MoM) meets forecasts (-0.5%) in July
Portugal Consumer Price Index (MoM) meets forecasts (-0.5%) in July
Portugal Consumer Price Index (YoY) in line with forecasts (3%) in July
Portugal Consumer Price Index (YoY) in line with forecasts (3%) in July
US Dollar: Fed pricing and CPI risks – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad notes markets are steady ahead of the United States (US) July Consumer Price Index (CPI) release, which is seen as pivotal for Fed funds expectations and the Dollar.
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.