Market News
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Euro edges lower against the Japanese Yen despite ECB rate hike expectations
EUR/JPY trades around 185.80 at the time of writing on Thursday, little changed on the day after reaching a one-month high earlier this week.
The Dow Jones Industrial Average discovers the virtue of owning few semiconductors
The Dow Jones Industrial Average (DJIA) added roughly 160 points, or 0.3%, to trade near 52,800 on Thursday while the S&P 500 slipped 0.2% and the NASDAQ Composite shed 0.9%.
NZD/USD Price Forecast: Buyers retain upper hand near one-month highs
NZD/USD fluctuates between minor gains and losses on Thursday as the Reserve Bank of New Zealand’s (RBNZ) hawkish stance supports the Kiwi, while a stronger US Dollar (USD) caps the upside. At the time of writing, the pair trades around 0.5842 after climbing to a one-month high earlier this week.
British Pound pulls back as solid US data revives the Greenback
The Pound Sterling trims some of its Wednesday gains versus the US Dollar, down by over 0.48% following solid US data. The sell-off comes amid risk aversion and augments the safe-haven appeal of the Greenback. At the time of writing, the GBP/USD trades at 1.3375, after peaking near 1.3545.
Crude Oil watches the Houthis aim at the last export route that still works
West Texas Intermediate (WTI) Oil spent Thursday's European morning grinding down to 78.37 before ripping nearly two dollars to 80.29 when the Houthis threatened to target all Saudi Oil sites and key facilities should Saudi Arabia escalate its actions against Yemen.
United States 4-Week Bill Auction: 3.66% vs 3.63%
United States 4-Week Bill Auction: 3.66% vs 3.63%
Swiss Franc falls as Middle East tensions keep Fed rate hike expectations alive
The Swiss Franc (CHF) weakens against the US Dollar (USD) on Thursday as the Greenback regains its footing following a two-day decline. At the time of writing, USD/CHF trades around 0.8080, up nearly 0.35% on the day, rebounding from an intraday low of 0.8044.
Australian Dollar holds above 0.7000 as US Retail Sales lose momentum
AUD/USD trades slightly higher near the 0.7010 area on Thursday, extending its recent recovery as the US Dollar (USD) struggles to gain sustained momentum following mixed United States (US) economic data.
Canadian Dollar: Gains eye 1.3981 against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret report USD/CAD is flat after the Bank of Canada (BoC) left policy unchanged and maintained a cautious tone on growth and inflation.
European Central Bank: Rate hike risk returns with Oil – ING
ING’s Carsten Brzeski argues that the European Central Bank is likely to keep rates unchanged next week but a surprise hike cannot be ruled out. He notes that renewed Middle East tensions and rising Oil prices have restored the macro backdrop seen before the June meeting.
British Pound: BoE hikes not seen bullish – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad highlights that United Kingdom (UK) May Gross Domestic Product (GDP) slightly beat expectations, driven by services, but underlying details disappointed as production and construction contracted and growth relied on one subsector.
United States EIA Natural Gas Storage Change below forecasts (45B) in July 10: Actual (41B)
United States EIA Natural Gas Storage Change below forecasts (45B) in July 10: Actual (41B)
The BoC holds at 2.25% and removes hike language: Why the Canadian Dollar could remain stuck
The Canadian Dollar (CAD) has entered a consolidation phase against the US Dollar (USD) following a volatile week.