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US Dollar Index Price Forecast:Ā Softens to near 101.00, while technicals remain bullish
The USĀ Dollar Index (DXY), an index of the value of theĀ US Dollar (USD) measured against a basket of six world currencies,Ā currently trades near 101.10 in the early European trading hours on Wednesday.
British Pound: Fiscal risks cloud outlook ā Commerzbank
Commerzbankās Thu Lan Nguyen notes that recent optimism around United Kingdom (UK) Prime Minister Burnham faded quickly, with British Pound (GBP) gains versus Euro fully reversed.
Equities: Chip rebound offsets rates repricing ā Deutsche Bank
Deutsche Bankās Jim Reid notes that despite higher United States (US) Treasury yields and renewed speculation about a July Fed rate hike, US equities advanced, led by a strong recovery in chip stocks.
Euro gathers strength against British Pound after UK June CPI inflation falls by more than expected
The EUR/GBP cross gains momentum to near 0.8525Ā during the early European trading hours on Wednesday. TheĀ British PoundĀ (GBP) weakens againstĀ the EuroĀ (EUR) following the UK inflation report. All eyes will be on the European Central Bank (ECB) interest rate decision later on Thursday.
Gold: Safe-haven demand offsets energy risks ā ING
INGās commodities team notes Gold and Silver have extended gains on dip-buying and geopolitical concerns in the Middle East. They highlight Gold trading above $4,000/oz and Silver near $60/oz, supported by safe-haven flows and stronger industrial metals sentiment.
British Pound remains depressed against US Dollar following soft UK inflation data
The British Pound (GBP) consolidates losses against the US Dollar (USD) on Wednesday, as a string of UK inflation figures provided some leeway for the Bank of England to maintain its āwait-and-seeā stance through the coming months.
British Pound attracts bids against Japanese Yen after mixed UK CPI data
The British Pound (GBP) witnesses slight buying interest against its major currency peers after the release of the United Kingdom (UK) Consumer Price Index (CPI) data for June. Against the Japanese Yen (JPY), the British currency rebounds strongly from the intraday low of 218.20.
Euro: Mild downside within defined range against US Dollar ā UOB
United Overseas Bankās (UOB) Quek Ser Leang and Lee Sue Ann note EUR/USD under mild downward pressure after slipping toward 1.14, but expects any intraday decline to be limited to a test of 1.1380, with major support at 1.1360 unlikely to be challenged.
USD/JPY Price Forecast: Likely to extend rally towards 164.00
The Japanese Yen (JPY) hovers near a multi-decade high at around 163.24 against the US Dollar (USD) during the early European trading session on Wednesday. The USD/JPY pair reflects significant strength as the Japanese currency underperforms due to surging Oil prices.
United Kingdom Retail Price Index (MoM) climbed from previous 0.2% to 0.3% in June
United Kingdom Retail Price Index (MoM) climbed from previous 0.2% to 0.3% in June
United Kingdom Retail Price Index (YoY) in line with forecasts (3%) in June
United Kingdom Retail Price Index (YoY) in line with forecasts (3%) in June
United Kingdom Producer Price Index - Output (MoM) n.s.a below expectations (0.4%) in June: Actual (0%)
United Kingdom Producer Price Index - Output (MoM) n.s.a below expectations (0.4%) in June: Actual (0%)
United Kingdom Core Consumer Price Index (YoY) came in at 2.6%, above forecasts (2.5%) in June
United Kingdom Core Consumer Price Index (YoY) came in at 2.6%, above forecasts (2.5%) in June