Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
Dow Jones futures gain on expected US-Iran agreement to reopen Hormuz
Dow Jones futures rise 0.23% to trade around 54,390 during European hours on Wednesday. Meanwhile, S&P 500 futures gain 0.34% to trade near 7,790, while Nasdaq 100 futures advance 0.14%, trading near 29,900.
United Kingdom S&P Global Services PMI registered at 52.1 above expectations (51.8) in July
United Kingdom S&P Global Services PMI registered at 52.1 above expectations (51.8) in July
United Kingdom S&P Global Composite PMI came in at 52.2, above expectations (52.1) in July
United Kingdom S&P Global Composite PMI came in at 52.2, above expectations (52.1) in July
Breaking: ADP Employment Change declines to 44K in July vs. 70K forecast
Employment in the United States' (US) private sector increased by 44K in July, the Automatic Data Processing (ADP) reported on Wednesday. This reading followed the 98K increase recorded in June and came in below the market expectation of 70K.
Euro steadies around 1.1540 after an upward revision of Eurozone's Services PMI
The Euro (EUR) holds marginal gains against the US Dollar (USD) on Wednesday, with the EUR/USD pair consolidating around the 1.1530 area, a few pips below seven-week highs at 1.1558.
Australian Dollar: Upward momentum capped by 0.7075 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann notes AUD/USD rebounded strongly to close at 0.7047 after an overdone retreat, with short‑term momentum building.
Euro rises against Japanese Yen following PMI data
EUR/JPY holds ground after registering over 0.5% gains in the previous day, trading around 182.00 during the European hours on Wednesday.
USD/CHF Price Forecast: Bearish bias persists below 0.8100 confluence hurdle
The USD/CHF pair reverses a modest intraday dip and touches a fresh daily high during the early European session on Wednesday, though it remains below the 0.8100 mark.
Brent: Deal hopes pressure prices below $80 – ING
ING analysts Warren Patterson and Ewa Manthey note that Brent has dropped below $80 per barrel as markets price in a potential short-term US-Iran deal that could reopen the Strait of Hormuz.
Japanese Yen struggles against US Dollar ahead of US private employment data
The Japanese Yen (JPY) gives back its early gains and flattens at around 157.70 against the US Dollar (USD) during the European trading session on Wednesday.
Eurozone HCOB Composite PMI above forecasts (51.9) in July: Actual (52)
Eurozone HCOB Composite PMI above forecasts (51.9) in July: Actual (52)
Eurozone HCOB Services PMI above expectations (51.6) in July: Actual (51.7)
Eurozone HCOB Services PMI above expectations (51.6) in July: Actual (51.7)
Equities: Global risk rally extends on softer inflation – Deutsche Bank
Deutsche Bank strategists highlight a broad-based rally in global equities as lower Oil prices, easing inflation expectations and resilient US data support risk appetite. The S&P 500 and major European indices hit or approached record highs, while Asian benchmarks also advanced.