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Euro: Hawkish ECB stance to limit downside against US Dollar – ING
ING’s Francesco Pesole expects the ECB to leave rates unchanged but deliver a hawkish hold, with Middle East tensions and rising European gas prices keeping hawks in control.
Euro rallies against the Pound as markets brace for ECB's monetary policy decision
The Euro (EUR) appreciates for the sixth consecutive day against the British Pound on Thursday, with bulls testing last week’s highs at the 0.8645 area. The Sterling remains offered across the board as investors wonder how the new cabinet will fund its spending pledges.
Equities: Mixed global performance following earnings – Deutsche Bank
Deutsche Bank strategists highlight a mixed performance across global equities over the last 24 hours. United States (US) stocks were softer, with the S&P 500 slightly lower, while Asian indices such as KOSPI, Hang Seng and Nikkei advanced and European equities saw gains led by STOXX 600.
Turkey Consumer Confidence rose from previous 87.9Â to 89.8 in July
Turkey Consumer Confidence rose from previous 87.9Â to 89.8 in July
US Dollar Index Price Forecast:Â Weakens to near 101.00, but retains bullish tone above 100-day SMA
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 101.00 in the early European trading hours on Thursday. The DXY weakens amid improved risk sentiment.
GBP/USD Price Forecast: Struggles to return above 20-day EMA
The British Pound (GBP) trades marginally higher to near 1.3387 against the US Dollar (USD) during the European trading session on Thursday. The GBP/USD pair edges higher as the US Dollar drops despite surging oil prices in the wake of escalating Middle East energy supply risks.
France Business Climate in Manufacturing in line with expectations (101) in July
France Business Climate in Manufacturing in line with expectations (101) in July
Oil: Middle East tensions raise supply risks – MUFG
Lloyd Chan at MUFG underscores escalating US–Iran tensions and threats to energy infrastructure and shipping through the Strait of Hormuz and Bab el-Mandeb.
Silver Price Forecasts: XAG/USD stalls below $60 as US yields rally
Silver (XAG/USD) is trading practically flat, a few cents below the $60.00 level on Thursday, with upside attempts capped as US Treasury yields jump to fresh highs.
British Pound: Downside risks below 1.3340 against US Dollar – UOB
United Overseas Bank’s Quek Ser Leang and Lee Sue Ann expect GBP/USD to consolidate intraday between 1.3350 and 1.3400 after a modest pullback from recent lows.
Canadian Dollar gains traction on rising oil prices as US-Iran war escalates
The USD/CAD pair attracts some sellers to near 1.4060 during the early European trading hours on Thursday. A rise in crude oil prices provides some support to the commodity-linked Canadian Dollar (CAD) against the US Dollar (USD).
EUR/USD Price Forecast: Reflects strength ahead of ECB’s policy decision
The Euro (EUR) is up 0.15% at around 1.1430 against the US Dollar (USD) during the early European trading session on Thursday. The EUR/USD pair rises as the major currency outperforms its peers ahead of the European Central Bank’s (ECB) monetary policy announcement at 12:15 GMT.
Indian Rupee attracts slight bids on RBI’s possible intervention
The Indian Rupee (INR) trades marginally higher against the US Dollar (USD) on Thursday on possible Reserve Bank of India (RBI) intervention in spot and non-deliverable forwards (NDFs) markets to support the currency.