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NZD/USD Price Forecast: Kiwi dips below 0.5950 as US Dollar strengthens
The New Zealand Dollar (NZD) heads lower for the second consecutive day against a stronger US Dollar (USD) on Monday, as hot US inflation data released on Wednesday has renewed pressure on the US Federal Reserve (Fed) to hike interest rates in the coming months.
Oil: Hormuz supply recovery eases risk premium – BNY
Geoff Yu at BNY notes that improving flows through the Strait of Hormuz are easing Oil supply fears and supporting a lower Brent price profile. Kuwait and Qatar have restored crude shipments to about 70% of pre-war levels, lifting total Hormuz flows.
Brazil Current Account came in at $-8.11B below forecasts ($-6.6B) in July
Brazil Current Account came in at $-8.11B below forecasts ($-6.6B) in July
Japanese Yen : Range holds with BoJ hike expectations – BBH
Brown Brothers Harriman’s (BBH Elias Haddad notes USD/JPY is stuck between resistance at 160.00 and support at the 200‑day moving average, as Bank of Japan (BoJ) officials maintain hawkish guidance and underlying inflation firms near the 2% target.
Gold eases as traders await clearer signals on the Fed interest rate path
Gold (XAU/USD) remains on the back foot at the start of American trading hours on Thursday after reversing its earlier intraday gains. At the time of writing, XAU/USD trades around $4,577, after reaching an intraday high of $4,643.
British Pound drops to weekly lows below 1.3600 as US Dollar gathers momentum
The British Pound (GBP) extends losses for the second consecutive day on Thursday, as the US Dollar (USD) strengthens after the hot US inflation report released on Wednesday.
Australian Dollar remains firm on firm RBA interest rate hike prospects
The Australian Dollar (AUD) is up 0.1% at around 0.7180 against the US Dollar (USD) during the European trading session on Thursday. The Aussie pair remains firm this week due to continued outperformance by the antipodean.
Euro struggles for direction against British Pound despite upbeat German data
EUR/GBP trades around 0.8575 on Thursday at the time of writing, virtually unchanged on the day with a modest gain of 0.05%.
Euro retreats below 1.1650 as inflation data buoys US Dollar ahead of Jackson Hole
The Euro (EUR) heads lower for the second consecutive day on Thursday, with the US Dollar (USD) supported by strong US inflation data released on Wednesday.
Canadian Dollar: Trade war complicates BoC path – Standard Chartered
Standard Chartered economist Dan Pan expects the Bank of Canada (BoC) to keep its policy rate at 2.25% and delay a 25bps cut to December, citing a Q2 growth rebound that reduces the need for immediate easing.
Euro steadies against Japanese Yen as German sentiment beats expectations
EUR/JPY trades around 185.65 on Thursday at the time of writing, virtually unchanged on the day. The Euro (EUR) benefits from encouraging German data, while the Japanese Yen (JPY) continues to struggle to attract sustained demand amid concerns over Japan’s fiscal position.
US Dollar: Policy reality supports resilience – OCBC
OCBC Bank strategists Sim Moh Siong and Christopher Wong argue that Treasury buybacks are unlikely to trigger sustained Dollar weakness without clear Federal Reserve support to cap yields.
Gold Price Forecast: XAU/USD hits lows sub-$4,600 as US inflation supports the Greenback
Gold (XAU/USD) is giving away the mild recovery seen during Thursday’s Asian session and pulls back below $4,600 during the European morning, as the US Dollar Index (DXY) consolidates above 99.00.