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US Dollar: Supported by higher yields and FOMC stance – MUFG
MUFG’s Lloyd Chan reports that June Federal Open Market Committee (FOMC) minutes show policymakers increasingly concerned that US inflation could stay elevated, with some seeing a case for a rate hike.
USD/CHF Price Forecast: Dollar bulls lose steam after rejection at 0.8100
The US Dollar is trading lower against the Swiss Franc (CHF) on Thursday, as investors ponder the consequences of reciprocal US and Iran attacks and a 10% rebound in Oil prices, on the major central banks' monetary policies.
Euro holds gains against Japanese Yen as Germany’s Trade Surplus widens in May
EUR/JPY extends its gains for the second successive day, trading around 185.70 during the early European hours on Thursday. The currency cross maintains its upward momentum following stronger-than-expected seasonally-adjusted Trade Balance data from Germany.
Silver Price Forecast: XAG/USD jumps to near $59 as US Dollar declines
Silver price (XAG/USD) is up over 1% to near $59.00 during the European trading session on Thursday. The white metal gains as the US Dollar (USD) faces selling pressure despite multiple tailwinds.
New Zealand Dollar advances above 0.5700 on RBNZ hawkish stance
The NZD/USD pair gains momentum to around 0.5735 during the early European session on Thursday. The New Zealand Dollar (NZD) strengthens against the US Dollar (USD) on a hawkish interest rate hike from the Reserve Bank of New Zealand (RBNZ).
Equities: Stagflation hit and chip-sector divergence – Deutsche Bank
Deutsche Bank strategists report that United States (US) equities weakened under a stagflationary backdrop. The S&P 500 fell with broad-based losses, while the Philly semiconductor index outperformed strongly.
British Pound: Flexible BoE stance supports against US Dollar – BNY
BNY Mellon’s Geoff Yu notes that reduced Bank of England (BoE) tightening expectations are not undermining the British Pound (GBP).
EUR/GBP Price Forecast: Languishes below 0.8550 with bullish attempts subdued
The Euro (EUR) keeps treading water right above one-year lows against the British Pound (GBP) on Thursday. The EUR/GBP is trading flat in the area of 0.8530 at the time of writing, weighed by rising tensions between the US and Iran and the rebound in oil prices.
Oil: Risk premium returns on Gulf supply concerns – Commerzbank
Commerzbank’s Thu Lan Nguyen argues that recent US policy towards Iran has reversed market expectations of a rapid normalisation in Gulf energy supplies, challenging earlier pricing of an Oil supply glut.
AUD/USD Price Forecast: 0.6860 is key support level amid geopolitical risks
The Australian Dollar (AUD) trades marginally higher at around 0.6935 against the US Dollar (USD) during the European trading session on Thursday.
Germany Imports (MoM) came in at -2.5% below forecasts (0.1%) in May
Germany Imports (MoM) came in at -2.5% below forecasts (0.1%) in May
Germany Trade Balance s.a. registered at €19.1B above expectations (€14.8B) in May
Germany Trade Balance s.a. registered at €19.1B above expectations (€14.8B) in May
Germany Exports (MoM) above expectations (-0.3%) in May: Actual (0.9%)
Germany Exports (MoM) above expectations (-0.3%) in May: Actual (0.9%)