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NZD/USD Price Forecast: Kiwi dips below 0.5950 as US Dollar strengthens
The New Zealand Dollar (NZD) heads lower for the second consecutive day against a stronger US Dollar (USD) on Monday, as hot US inflation data released on Wednesday has renewed pressure on the US Federal Reserve (Fed) to hike interest rates in the coming months.
Thu, Aug 27
Oil: Hormuz supply recovery eases risk premium – BNY
Geoff Yu at BNY notes that improving flows through the Strait of Hormuz are easing Oil supply fears and supporting a lower Brent price profile. Kuwait and Qatar have restored crude shipments to about 70% of pre-war levels, lifting total Hormuz flows.
Thu, Aug 27
Japanese Yen : Range holds with BoJ hike expectations – BBH
Brown Brothers Harriman’s (BBH Elias Haddad notes USD/JPY is stuck between resistance at 160.00 and support at the 200‑day moving average, as Bank of Japan (BoJ) officials maintain hawkish guidance and underlying inflation firms near the 2% target.
Thu, Aug 27
Gold eases as traders await clearer signals on the Fed interest rate path
Gold (XAU/USD) erases its earlier intraday gains on Thursday as buyers turn cautious after a strong rally this month. The precious metal climbed to $4,697 earlier this week, its highest level since May 14, and is still up around 13% so far in August.
Thu, Aug 27
British Pound drops to weekly lows below 1.3600 as US Dollar gathers momentum
The British Pound (GBP) extends losses for the second consecutive day on Thursday, as the US Dollar (USD) strengthens after the hot US inflation report released on Wednesday.
Thu, Aug 27
Australian Dollar remains firm on firm RBA interest rate hike prospects
The Australian Dollar (AUD) is up 0.1% at around 0.7180 against the US Dollar (USD) during the European trading session on Thursday. The Aussie pair remains firm this week due to continued outperformance by the antipodean.
Thu, Aug 27
Euro struggles for direction against British Pound despite upbeat German data
EUR/GBP trades around 0.8575 on Thursday at the time of writing, virtually unchanged on the day with a modest gain of 0.05%.
Thu, Aug 27
Euro retreats below 1.1650 as inflation data buoys US Dollar ahead of Jackson Hole
The Euro (EUR) heads lower for the second consecutive day on Thursday, with the US Dollar (USD) supported by strong US inflation data released on Wednesday.
Thu, Aug 27
Crypto Today: Bitcoin, Ethereum, XRP bulls regain strength amid steady capital inflows
Cryptocurrency prices are broadly edging higher on Thursday, led by Bitcoin’s (BTC) uptick near $80,000. Altcoins mirror Bitcoin’s short-term bullish outlook, with Ethereum (ETH) trading above $2,500 and Ripple (XRP) hovering above its key $1.40 support.
Thu, Aug 27
Gold Price Forecast: XAU/USD hits lows sub-$4,600 as US inflation supports the Greenback
Gold (XAU/USD) is giving away the mild recovery seen during Thursday’s Asian session and pulls back below $4,600 during the European morning, as the US Dollar Index (DXY) consolidates above 99.00.
Thu, Aug 27
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Thursday, according to FXStreet data. Silver trades at $68.39 per troy ounce, up 0.38% from the $68.13 it cost on Wednesday.
Thu, Aug 27
British Pound: Remains under pressure below resistance against Euro – Societe Generale
Societe Generale’s Kenneth Broux and colleagues note that EUR/GBP has rebounded sharply after forming an interim low near 0.8450 in July, but the recovery has stalled around 0.8585.
Thu, Aug 27
United States Dollar Index gains support as strong US data sparks rate hike expectations
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is remaining stronger for the second successive day and trading around 99.20 during the European hours on Thursday.
Thu, Aug 27
Indian Rupee: Yields looking attractive after sell-off – DBS
DBS Group Research strategist Sherilyn Chew says hawkish Reserve Bank of India (RBI) minutes and volatility at the long end of the US Treasury market have pushed India rates higher.
Thu, Aug 27
WTI Price Forecast: Bears have the upper hand below $82.10-$82.15 confluence hurdle
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts some selling following the overnight bounce from the $79.30-$79.25 region, or an over two-week low, though the downside remains cushioned.
Thu, Aug 27
Polish Zloty: Import pass-through risks challenge cuts – BNY
BNY’s Geoff Yu argues that Euro strength is amplifying import price pass-through risks for Poland, with EUR/PLN gains feeding into higher import prices. The Monetary Policy Council’s guidance of unchanged rates contrasts with market pricing for a return above 4%.
Thu, Aug 27
Euro steadies against Canadian Dollar following stronger German Consumer Confidence data
EUR/CAD maintains its position after three days of gains, trading around 1.6170 during the European hours on Thursday. The currency cross remains steady as the Euro (EUR) moves little following a surprisingly upbeat economic data out of Germany.
Thu, Aug 27
US Dollar: Warsh speech keeps markets cautious – ING
ING strategist Francesco Pesole sees recent United States (US) Personal Consumption Expenditures (PCE) Price Index data as consistent with disinflation but too gradual to force Federal Reserve (Fed) hikes this year.
Thu, Aug 27
Silver Price Forecasts: XAG/USD remains bullish with dips capped above $67.40
Silver’s (XAG/USD) pullback from the $70.00 area found buyers above $67.40 on Thursday to trim losses and return to the mid-range of the $68.00s during the European morning session.
Thu, Aug 27
Japanese Yen flattens against US Dollar in countdown to Jackson Hole Symposium
The Japanese Yen (JPY) trades in a limited range at around 159.30 against the US Dollar (USD) during the European trading session on Thursday. The USD/JPY pair consolidates as investors await Federal Reserve (Fed) Chairman Kevin Warsh’s speech at the Jackson Hole Symposium on Friday.
Thu, Aug 27
