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Silver Price Forecast: XAG/USD rebounds above $58.00 despite inflation fears
Silver price (XAG/USD) inches higher after three days of losses, trading around $58.30 per troy ounce during the Asian hours on Thursday.
New Zealand Dollar holds ground despite softer China’s CPI data
NZD/USD extends its gains for the second successive day, trading around 0.5720 during the Asian hours on Thursday. The pair holds gains as the New Zealand Dollar (NZD) remains stronger following the Consumer Price Index (CPI) inflation data release from New Zealand’s close trading partner, China.
China’s CPI inflation falls to 1.0% YoY in June, vs 1.1% expected
China’s Consumer Price Index (CPI) climbed 1.0% in June from a year ago after arriving at a rise of 1.2% in May, the National Bureau of Statistics of China reported on Thursday. The market consensus was for 1.1% in the reported period.
China Consumer Price Index (MoM) below expectations (-0.2%) in June: Actual (-0.3%)
China Consumer Price Index (MoM) below expectations (-0.2%) in June: Actual (-0.3%)
China Consumer Price Index (YoY) came in at 1% below forecasts (1.1%) in June
China Consumer Price Index (YoY) came in at 1% below forecasts (1.1%) in June
British Pound strengthens to near 1.3400 as UK political risk fades
The GBP/USD pair gathers strength near 1.3395 during the Asian trading hours on Thursday, bolstered by fading domestic political uncertainty.
Australian Dollar steadies following Chinese CPI data
AUD/USD gains ground after remaining flat in the previous day, trading around 0.6930 during the Asian hours on Thursday.
Japan Money Supply M2+CD (YoY) declined to 2.2% in June from previous 2.5%
Japan Money Supply M2+CD (YoY) declined to 2.2% in June from previous 2.5%
Japan Foreign Investment in Japan Stocks down to ¥-22.2B in July 3 from previous ¥-1B
Japan Foreign Investment in Japan Stocks down to ¥-22.2B in July 3 from previous ¥-1B
United Kingdom RICS Housing Price Balance below forecasts (-30%) in June: Actual (-33%)
United Kingdom RICS Housing Price Balance below forecasts (-30%) in June: Actual (-33%)
Chinese Yuan: Downside bias as momentum improves against US Dollar – UOB
United Overseas Bank’s (UOB) Senior Technical Strategist Quek Ser Leang notes that USD/CNH has broken higher, with momentum improving after Monday’s move to 6.8051 and a close at 6.8038.
New Zealand Business NZ PMI rose from previous 49.9Â to 59.7 in June
New Zealand Business NZ PMI rose from previous 49.9Â to 59.7 in June
Euro steadies as Middle East strikes offsets Fed repricing
The Euro holds firm against the US Dollar on Wednesday as hostilities in the Middle East continued, with the US attacking Iran for the second straight day at around the Strait of Hormuz. At the time of writing, the EUR/USD trades at 1.1420, after bouncing off daily lows of 1.1391.