Market News
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Euro gains against Canadian Dollar as oil prices retreat on rising US crude inventories
EUR/CAD extends its gains for the second consecutive day, trading around 1.6090 during European hours on Wednesday. Traders are closely watching the European economic calendar, as the seasonally adjusted Eurozone Industrial Production figures for July are scheduled for release later in the day.
Oil: Supply risks and central bank pressures – Rabobank
Rabobank’s Senior Macro Strategist Bas van Geffen highlights escalating Middle East tensions, with Houthi attacks and damage to Saudi infrastructure forcing more Oil flows through the Strait of Hormuz.
United Kingdom DCLG House Price Index (YoY) above forecasts (0%) in July: Actual (1.4%)
United Kingdom DCLG House Price Index (YoY) above forecasts (0%) in July: Actual (1.4%)
Norwegian Krone: Norges Bank weighs inflation and growth – Commerzbank
Commerzbank’s Antje Praefcke highlights uncertainty over whether Norges Bank will hike in September or wait until December. Inflation remains above target despite a recent downside surprise, while growth is described as close to normal.
Dow Jones futures tick higher ahead of Fed interest rate decision
Dow Jones futures gain by 0.14% to trade near 52,190 during European hours on Wednesday. Meanwhile, S&P 500 futures rise by 0.21% to trade around 7,600, while Nasdaq 100 futures advance by 0.42% to trade near 29,080.
NZD/USD Price Forecast: Bounces off two-month low; seems vulnerable near mid-0.5700s
The NZD/USD pair bounces off an over two-month low, around the 0.5735 area touched earlier this Wednesday, though it lacks any follow-through buying.
Italy Consumer Price Index (EU Norm) (YoY) meets forecasts (3.2%) in August
Italy Consumer Price Index (EU Norm) (YoY) meets forecasts (3.2%) in August
Italy Consumer Price Index (MoM) in line with forecasts (0.5%) in August
Italy Consumer Price Index (MoM) in line with forecasts (0.5%) in August
Italy Consumer Price Index (EU Norm) (MoM) in line with expectations (0.1%) in August
Italy Consumer Price Index (EU Norm) (MoM) in line with expectations (0.1%) in August
Italy Consumer Price Index (YoY) in line with forecasts (3.3%) in August
Italy Consumer Price Index (YoY) in line with forecasts (3.3%) in August
Silver Price Forecast: XAG/USD jumps to near $65 ahead of Fed’s interest rate decision
Silver price (XAG/USD) is up 1.8% to near $64.80 during the European trading session on Wednesday. The white metal trades firmly ahead of the Federal Reserve’s (Fed) monetary policy announcement at 18:00 GMT.
Swiss Franc: Watching break of 0.8205 against US Dollar – UOB
UOB’s Quek Ser Leang and Lee Sue Ann see USD/CHF consolidating just below major resistance at 0.8205 after trading between 0.8164 and 0.8198.
USD/CAD Price Forecast: Eyes 1.3950 near ascending channel top
USD/CAD continues its winning streak for the sixth consecutive day, trading around 1.3930 during European hours on Wednesday. The technical analysis of the daily chart indicates that the price is positioned slightly below the top trendline of an ascending channel, suggesting an ongoing bullish bias.