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Indian Rupee: Gradual strengthening path outlined – MUFG
MUFG’s Michael Wan expects USD/INR to grind lower over the next 3–6 months towards 94.00, before rebounding to 96.00 in the next calendar year.
Silver Price Forecasts: XAG/USD hesitates at $62.00 after a two-day rally
Silver (XAG/USD) consolidates gains in the $61.70 area after being rejected ahead of $63.00. The pair is trimming gains on Thursday, after following a nearly 7% rally over the last two days, but downside attempts remain limited so far, as lower Oil prices and a weak US Dollar keep providing support.
Equities: Tech-led rally faces growing caution – Danske Bank
Danske Research Team highlights that global equities have gained about 5% over five sessions, with cyclicals and growth outperforming defensives and value, pointing to a tech-driven move.
Switzerland Unemployment Rate s.a (MoM) remains unchanged at 3.1% in July
Switzerland Unemployment Rate s.a (MoM) remains unchanged at 3.1% in July
US Dollar Index Price Forecast: Holds gains above 99.50, while bearish bias persists
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 99.75 in the early European trading hours on Thursday.
Spain Industrial Output Cal Adjusted (YoY) declined to 1.1% in June from previous 3.4%
Spain Industrial Output Cal Adjusted (YoY) declined to 1.1% in June from previous 3.4%
Austria Wholesale Prices n.s.a (YoY) increased to 6.9% in July from previous 5.4%
Austria Wholesale Prices n.s.a (YoY) increased to 6.9% in July from previous 5.4%
Austria Wholesale Prices n.s.a (MoM) up to 0.8% in July from previous -0.7%
Austria Wholesale Prices n.s.a (MoM) up to 0.8% in July from previous -0.7%
Oil: Distillate exports tighten market – ING
ING strategists Warren Patterson and Ewa Manthey note Oil prices remain under pressure, with ICE Brent trading below $80/bbl as markets focus on a potential US-Iran deal to reopen flows through the Strait of Hormuz.
USD/JPY Price Forecast: Likely return to two-month low near 155.00
The USD/JPY pair holds onto a three-day recovery move near 157.80 during the European trading session on Thursday.
Euro: Upside bias needs close above resistance against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann highlight that EUR/USD extended modest gains to close at 1.1551, with mild upward momentum still intact. Intraday, the pair may test 1.1565, though a move to 1.1600 is seen as unlikely without stronger momentum.
Canadian Dollar flatlines as traders watch possible US-Iran deal
The USD/CAD pair USD/CAD holds steady around 1.4015 during the early European trading hours on Thursday. Traders await a possible US-Iran deal, which could give direction to the pair. The US Initial Jobless Claims report is due later on Thursday.Â
Euro steadies at three-week highs amid positive data and lower Oil prices
The Euro (EUR) remains practically flat against the US Dollar (USD) at the European session opening times on Thursday, with the EUR/USD pair holding gains at the 1.1550 area after rallying about 1.6% from last week's lows.