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Oil: Prices retreat on Gulf diplomacy – ING
ING analysts Warren Patterson and Ewa Manthey note that Oil prices are under renewed downward pressure, with ICE Brent breaking below $90/bbl as talks involving Iran, Oman and Pakistan on the Strait of Hormuz and the Middle East war progress.
Euro weakens against Japanese Yen amid firm BoJ interest rate hike prospects
The Euro (EUR) trades 0.22% lower at around 185.45 against the Japanese Yen (JPY) during the early European trading session on Wednesday.
Euro: Upside bias toward 1.1725 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann report EUR/USD broke out of its recent tight range, closing slightly higher near 1.1675 as tentative upside momentum emerges.
Sweden Producer Price Index (YoY) dipped from previous 7.4%Â to 6.4% in July
Sweden Producer Price Index (YoY) dipped from previous 7.4%Â to 6.4% in July
Sweden Producer Price Index (MoM): 0.1% (July)
Sweden Producer Price Index (MoM): 0.1% (July)
AUD/USD Price Forecast: Hot Australian CPI data boosts hawkish RBA bets
The Australian Dollar (AUD) outperforms its major currency peers on Wednesday, trading 0.2% higher to near 0.7180 against the US Dollar (USD) during the early European trading session.
ECB's Schnabel: Inflation likely to top 2% for extended period
European Central Bank (ECB) Executive Board member Isabel Schnabel said that inflation is unlikely to return to target over the medium term, and therefore further tightening will be necessary, Bloomberg reported on Wednesday.Â
EUR/USD Price Forecast: Declines to near 1.1650, overbought signals curb upside bias
The EUR/USD pair trades in negative territory near 1.1665 during the early European trading hours on Wednesday, pressured by a rebound in the US Dollar (USD). Markets turn cautious ahead of the release of the key US July Personal Consumption Expenditures (PCE) Price Index report later on Wednesday.Â
Swiss Franc weakens as US Dollar gains ahead of PCE inflation data
USD/CHF gains ground after posting minor losses, trading around 0.8040 during the Asian hours on Wednesday. The pair appreciates as the US Dollar (USD) gains support ahead of the upcoming US Personal Consumption Expenditures (PCE) release, the Federal Reserve’s key inflation metric.
Singapore Industrial Production (MoM): 2.3% (July) vs -7.2%
Singapore Industrial Production (MoM): 2.3% (July) vs -7.2%
Singapore Industrial Production (YoY) above expectations (6.6%) in July: Actual (6.8%)
Singapore Industrial Production (YoY) above expectations (6.6%) in July: Actual (6.8%)
Asian stock markets gain as oil extends downfall, eyes on Jackson Hole Symposium
Asian stock markets reflect broader strength on Wednesday, as oil prices have fallen further on renewed hopes of the Strait of Hormuz, a vital passage for almost 20% of global energy supply, reopening.
WTI Price Forecast: Seems vulnerable below $80.00 as break below 50% Fibo. comes into play
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – remains under some selling pressure for the third straight day and drops to a nearly two-week low during the Asian session on Wednesday.