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New Zealand Dollar rebounds but upside remains limited as US Dollar stays supported
NZD/USD trades around 0.5790 on Friday at the time of writing, up 0.27% on the day as the pair recovers from a one-and-a-half-week low, although bullish momentum remains limited by the underlying strength of the US Dollar (USD).
âStill see probability of rate hike higher than holdâ: ECBâs Simkus expresses hawkish bias on rates
European Central Bank (ECB) Governing Council member and head of Lithuania's central bank, Gediminas Simkus, said during European trading hours on Friday that the chances of an interest rate hike in the near term are higher than maintaining the status quo.
Breaking: United States S&P Global Composite PMI improves to 53.6 in July
Business activity in the United States' (US) private sector expanded at an accelerating pace in July, with the S&P Global Composite Purchasing Managers' Index (PMI) improving to 53.6 (preliminary) from 51.9 in June.
Turkish Lira: Tight CBRT funding offers marginal support â Commerzbank
According to Commerzbankâs Tatha Ghose, the Central Bank of the Republic of TĂŒrkiye (CBRT) kept its one-week repo rate at 37.0% and maintained the corridor at 35.5%-40.0%. With the repo window still closed, effective funding remains near 40%, which Ghose views as Lira-supportive.
Euro holds steady vs British Pound after stronger Eurozone, UK data
EUR/GBP trades around 0.8550 at the time of writing on Friday, remaining broadly stable despite a series of stronger-than-expected economic releases from the Eurozone and the United Kingdom (UK).
Japanese Yen remains pinned near 40-year low as Fed-BoJ rate gap keeps carry trade active
The USD/JPY pair edges lower on Friday as bulls turn cautious in anticipation of a potential government intervention to prop up the Japanese Yen (JPY).
Euro: Rate support seen fading gradually against US Dollar â MUFG
MUFGâs Derek Halpenny says the ECBâs latest communication supports a likely September rate hike, now almost fully priced, but warns that Euro support may fade as energy costs rise.
UK S&P Global Services PMI returns to growth in July, arrives at 51.8
According to preliminary data, the United Kingdom (UK) S&P Global Services Purchasing Managersâ Index (PMI) arrives above 50.0 in July, a figure that separates expansion from contraction, after declining in June.
South African Rand: SARB surprise weighs against US Dollar â Commerzbank
Commerzbankâs Volkmar Baur says the South African Reserve Bankâs (SARB) decision to keep its policy rate unchanged at 7% came as a negative surprise, particularly after June inflation rose and Brent crude moved above USD 100 per barrel.
Euro remains capped below 1.1400 despite bright Eurozone preliminary PMIs
The Euro (EUR) ticks up against the US Dollar (USD) on Friday but remains capped below 1.1400, and dangerously close to the year-to-date low, at 1.1324.
Eurozone flash Manufacturing PMI rises surprisingly faster-than-estimates to 52.0
Preliminary HCOB Manufacturing Purchasing Managersâ Index (PMI) in the oldest continent expands at a faster pace to 52.0 in July from Juneâs figure of 51.4. The manufacturing activity was anticipated to expand but at a moderate pace to 51.3.
Germanyâs flash Manufacturing PMI unexpectedly rises strongly to 52.2 vs. 50.1 estimates
German flash HCOB Composite PMI returns to the expansion trajectory in July after declining in June. Preliminary figures show that the overall business activity expanded to 51.2. The Composite PMI was seen arriving at 49.8 from 49.5 in June.
Forex Today: New wave of US tariffs, deepening Middle East conflict keep markets on edge
Here is what you need to know on Friday, July 24: