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Euro wavers within range against British Pound with markets calm and little data
The Euro (EUR) edges up for the second consecutive day against the British Pound (GBP) on Wednesday, trading halfway within the monthly range.
Hungarian Forint: MNB caution offers modest HUF support - Commerzbank
Commerzbank’s Tatha Ghose reports that Hungary’s central bank, Magyar Nemzeti Bank (MNB), cut its base rate to 5.50% but avoided pre-committing to further easing, stressing that September’s Inflation Report will guide policy. The bank will monitor global rate hikes, could limit the scope.
NZD/USD Price Forecast: Dips below 0.5950, fresh weekly low as USD firms ahead of US PCE
The NZD/USD pair comes under some renewed selling pressure on Wednesday and drops to a fresh weekly low, around the 0.5945 region during the early European session.
Euro: Holds near 1.1670 against US Dollar as rate moves offset - Danske Bank
Danske Research Team reports that EUR/USD remained little changed around 1.1670, with the chart showing only a modest pullback from overnight highs before a partial recovery.
ECB sets for September rate hike with no appetite to signal more – RTE
According to sources, the European Central Bank (ECB) is all set to hike its key policy rates at the September policy meeting, RTE reported. Sources also said that the central bank has no appetite to raise interest rates again after a hike next month.
British Pound edges lower below 1.3650 as traders await US PCE release
The GBP/USD pair declines to near 1.3625 during the early European trading hours on Wednesday. The US Dollar (USD) edges higher against the British Pound (GBP) as markets turn cautious ahead of the US July Personal Consumption Expenditures (PCE) Price Index data, which is due later on Wednesday.Â
British Pound: Upside remains intact above 1.3605 against US Dollar - UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann maintain a positive 1–3 week outlook for GBP/USD, with 1.3700 still in sight as long as the pair holds above 1.3605.
USD/JPY Price Forecast: 20-day EMA continues to act as key barrier
The Japanese Yen (JPY) trades higher against the US Dollar (USD) on Wednesday, with USD/JPY dropping 0.1% to near 159.00. The Asia-Pacific currency gains amid firm expectations that the Bank of Japan (BoJ) will hike policy rates by 25 basis points (bps) to 1.25% in the September meeting.
Australian Dollar: RBA waits as inflation sticks – Commerzbank
Volkmar Baur at Commerzbank notes that the Reserve Bank of Australia (RBA) is in wait-and-see mode after three rate hikes, assessing how inflation and the labor market evolve. July Consumer Price Index (CPI) eased to 3.5% but missed expectations, with trimmed-mean inflation stuck at 3.6%.
Canadian Dollar gives away gains amid lower oil prices, fresh trade tensions
The Canadian Dollar (CAD) reverses earlier gains against the US Dollar (USD) on Wednesday, weighed by a recent pullback in oil prices and the escalation of the trade war with the US.
Euro weakens against Japanese Yen amid firm BoJ interest rate hike prospects
The Euro (EUR) trades 0.22% lower at around 185.45 against the Japanese Yen (JPY) during the early European trading session on Wednesday.
Euro: Upside bias toward 1.1725 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann report EUR/USD broke out of its recent tight range, closing slightly higher near 1.1675 as tentative upside momentum emerges.
Sweden Producer Price Index (YoY) dipped from previous 7.4%Â to 6.4% in July
Sweden Producer Price Index (YoY) dipped from previous 7.4%Â to 6.4% in July