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Silver Price Forecasts: XAG/USD dips to $59.00 amid high yields, geopolitical tensions
Silver (XAG/USD) reverses on Thursday’s European session opening times, following a frail recovery attempt in Asian trading, and falls to the $59.30 area after being capped near $60.60 earlier in the day.
Euro: Downside risks persist toward 1.1140 against US Dollar - UOB
UOB strategists Quek Ser Leang and Lee Sue Ann highlight renewed EUR/USD selling, with the pair dropping to 1.1164 before closing at 1.1195. While downside momentum has cooled, the Euro (EUR) remains vulnerable as long as resistance near 1.1265 holds.
Canadian Dollar weakens despite higher oil prices
USD/CAD remains stronger for the second successive day, trading around 1.4270 during Asian hours on Thursday. However, potential gains for the pair may be capped by strength in the commodity-linked Canadian Dollar (CAD), which could draw support from rising crude oil prices.
EUR/USD Price Forecast: Holds below 1.1200, bearish tone prevails amid oversold conditions
The EUR/USD pair loses ground to near 1.1195 during the early European trading hours on Thursday. France's fiscal concerns continue to drag the Euro (EUR) lower against the US Dollar (USD). The US weekly Initial Jobless Claims report and the Fedspeak will be in the spotlight later on Thursday.
Germany Trade Balance s.a. came in at €19.5B, above expectations (€19B) in August
Germany Trade Balance s.a. came in at €19.5B, above expectations (€19B) in August
Germany Exports (MoM) below expectations (0.8%) in August: Actual (-0.8%)
Germany Exports (MoM) below expectations (0.8%) in August: Actual (-0.8%)
Germany Imports (MoM) below expectations (2.8%) in August: Actual (0.9%)
Germany Imports (MoM) below expectations (2.8%) in August: Actual (0.9%)
USD/JPY Price Forecast: 20-day EMA provides cushion near 157.55
The Japanese Yen (JPY) gives back its early gains and turns slightly negative against the US Dollar (USD) during the early European trading session on Thursday. As of writing, the USD/JPY pair is up 0.13% to near 158.23.
Indian Rupee remains on track to revisit all-time low
The Indian Rupee (INR) traded mildly higher against the US Dollar (USD) on Thursday due to possible Reserve Bank of India’s (RBI) intervention. According to a Reuters report, Indian central bank likely sold US dollars near the market open on Thursday to support the Indian rupee, four traders said.
GBP/USD Price Forecast: Bears await break below trading range support near 1.3180
The GBP/USD pair struggles to gain any meaningful traction, trading near the 1.3200 mark through the Asian session on Thursday and within striking distance of the lowest level since late June, touched last week.
BoJ holds steady assessment for 7 of Japan's 9 regions
The Bank of Japan (BoJ) Regional Economic Report, known as the Sakura report, maintains an unchanged economic assessment for 7 of 9 regions across Japan.
Japan Eco Watchers Survey: Outlook: 47.4 (September) vs previous 48.3
Japan Eco Watchers Survey: Outlook: 47.4 (September) vs previous 48.3
Swiss Franc gains despite stable US Dollar amid ongoing inflation risks
USD/CHF halts its three-day winning streak, trading around 0.8330 during Asian hours on Thursday. However, the downside of the pair could be limited as the US Dollar (USD) gains solid backing from the Federal Open Market Committee's (FOMC) hawkish stance amid ongoing inflation risks.