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USD/CAD Price Forecast: Edges higher above 1.3850, but bearish bias persists
The USD/CAD pair posts modest gains around 1.3875 during the early European trading hours on Monday. The US Dollar (USD) edges higher against the Canadian Dollar (CAD) amid rising expectations for a Federal Reserve (Fed) interest rate hike later on Wednesday.Â
British Pound: Growth distortions and rate risks – Commerzbank
Commerzbank’s Michael Pfister highlights unusually strong UK growth in the first quarter and weaker outcomes later in the year, driven largely by services. He argues this seasonal distortion complicates Bank of England policy signals, limiting conclusions from July’s robust data.
USD/JPY Price Forecast: Likely trade sideways ahead of Fed-BoJ policy meetings
The Japanese Yen (JPY) reflects a mixed performance against its major currency peers, but is significantly down against the US Dollar (USD), in the European trading session on Monday. As of writing, USD/JPY is up 0.44% to near 154.20.
India WPI Inflation registered at 9.92% above expectations (9.89%) in August
India WPI Inflation registered at 9.92% above expectations (9.89%) in August
ECB’s Lagarde: The current shock is longer-lasting
European Central Bank (ECB) President Christine Lagarde said in an interview on Saturday that the current energy shock is longer-lasting.
Switzerland Producer and Import Prices (YoY) increased to -0.7% in August from previous -2.1%
Switzerland Producer and Import Prices (YoY) increased to -0.7% in August from previous -2.1%
Switzerland Producer and Import Prices (MoM) above forecasts (0.1%) in August: Actual (0.7%)
Switzerland Producer and Import Prices (MoM) above forecasts (0.1%) in August: Actual (0.7%)
Euro: Support at 1.1565 watched against US Dollar – UOB
UOB’s Quek Ser Leang highlights that EUR/USD slipped to 1.1568 before rebounding to close near 1.1598, with downside momentum still limited. Intraday, the Euro (EUR) is expected to test major support at 1.1565 but a clear break is seen as unlikely, with resistance at 1.1605 and 1.1620.
British Pound weakens to near 1.3500 on Fed hike bets
The GBP/USD pair declines to near 1.3505 during the early European session on Monday. The US Dollar (USD) strengthens against the British Pound (GBP) as traders pondered possible rate hikes from the Federal Reserve (Fed) later on Wednesday.
Sweden Consumer Price Index (MoM) meets forecasts (-0.3%) in August
Sweden Consumer Price Index (MoM) meets forecasts (-0.3%) in August
Sweden Consumer Price Index (YoY) in line with forecasts (0.3%) in August
Sweden Consumer Price Index (YoY) in line with forecasts (0.3%) in August
British Pound trades higher at start of UK data-packed, BoE policy week
The British Pound (GBP) is up against its major currency peers, except North American currencies, at the start of the United Kingdom (UK) data-packed week and the Bank of England’s (BoE) monetary policy announcement.
Swiss Franc weakens as US Dollar gains on Fed rate hike odds
USD/CHF extends its winning streak for the fourth consecutive day, trading around 0.8180 during Asian hours on Monday. The pair appreciates as the US Dollar (USD) gains support amid aggressive Federal Reserve (Fed) rate-hike bets for Wednesday’s decision following hotter US inflation reports.