Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
Euro holds above mid-1.1600s vs USD; looks to US PCE data for fresh impetus
The EUR/USD pair struggles to capitalize on the previous day's modest bounce from the weekly low, and trades with a negative bias through the early European session on Wednesday.
British Pound weakens against Japanese Yen amid hawkish BoJ prospects
The British Pound (GBP) is under pressure against the Japanese Yen (JPY) on Wednesday, trading 0.22% lower at around 216.85 during the European trading session.
Brent: Prices extend sharp decline – Deutsche Bank
Deutsche Bank’s Early Morning Reid team, including Peter Sidorov and Jim Reid, note that Brent Oil has reversed more than half of its recent 13% rally as Middle East de-escalation headlines weigh on energy markets.
Silver Price Forecast: XAG/USD rises to near $69.00 ahead of US PCE inflation data
Silver price (XAG/USD) extends its gains for the second successive day, trading around $68.80 per troy ounce during the European hours on Wednesday.
US Dollar: Buyback impact stays marginal – BNY
BNY’s Geoff Yu notes that U.S. cross‑border exposures have stabilized, with Dollar FX hedges broadly unchanged and U.S. equity holdings recovering as risk sentiment improves.
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.