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Indian Rupee poised for positive opening on Thursday amid lower oil prices
The Indian Rupee (INR) is expected to open on a positive note against the US Dollar (USD) on Thursday after a holiday on Wednesday on account of Id-e-Milad. On Tuesday, the USD/INR pair declined 0.35% to near 95.40 due to weaker oil prices, which also led to a sharp decline in US Treasury Yields.
Wed, Aug 26
Bitcoin Price Forecast: BTC recovery stalls near $80,000 as ETF inflows mount, whale demand strengthens
Bitcoin (BTC) price is trading in the green on Wednesday, holding above $78,000 while struggling to extend its recovery above the $80,000 mark. Institutional demand is strengthening, with steady inflows and BlackRock’s tax-deferred Bitcoin-to-ETF swap volume reaching $5 billion.
Wed, Aug 26
Euro: ECB tightening outlook offers support against US Dollar - BNY
BNY's Geoff Yu highlights that European Central Bank (ECB) Executive Board member Isabel Schnabel sees further rate hikes as necessary, with Euro area inflation risks still tilted to the upside and growth more resilient than expected.
Wed, Aug 26
Japanese Yen treads water around 159.00 with US PCE Inflation on tap
The Japanese Yen (JPY) ticks higher against the US Dollar (USD) on Wednesday but keeps looking for direction, as investors bide their time, awaiting an array of key US macroeconomic releases due later on the day.
Wed, Aug 26
Australian Dollar: RBA tightening risks rise – TD Securities
TD Securities’ Prashant Newnaha highlights that Australia’s July Consumer Price Index (CPI delivered a strong inflation impulse, with headline and trimmed mean measures beating consensus and remaining uncomfortably high.
Wed, Aug 26
US Dollar Index: Range-bound consolidation as PCE looms – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad notes the US Dollar (USD) is firm, consolidating just above recent lows following the US Treasury buyback announcement.
Wed, Aug 26
Gold slips ahead of US PCE as US Dollar firms modestly
Gold (XAU/USD) edges lower on Wednesday as buyers trim their exposure ahead of the US Personal Consumption Expenditures (PCE) Price Index data, due at 12:30 GMT. At the time of writing, XAU/USD trades around $4,615 after reaching $4,697 on Tuesday, its highest since May 14.
Wed, Aug 26
GBP/USD Price Forecast: Hits fresh intra-week lows after failure at 1.3660 resistance
The British Pound (GBP) pares gains against the US Dollar (USD) on Wednesday, with bears testing the bottom of the intra-week trading range at the 1.3620 area, after failure to breach resistance at 1.3660.
Wed, Aug 26
USD/CAD Price Forecast: Approaches 20-day EMA on the back of US-Canada trade dispute
The US Dollar (USD) trades 0.2% higher at around 1.3870 against the Canadian Dollar (USD) during the European trading session on Wednesday. The Loonie pair strengthens as the Canadian Dollar underperforms due to trade tensions between the United States (US) and Canada.
Wed, Aug 26
Gold Price Forecast: XAU/USD corrects to near $4,620 in countdown to US PCE Inflation data
Gold price (XAU/USD) is down 0.75% to near $4,620 during the European trading session on Wednesday.
Wed, Aug 26
Crypto Today: Bitcoin, Ethereum, XRP broadly consolidate ahead of the next leg up
Bitcoin (BTC) has retained a strong bullish outlook since last week, trading around $79,000 on Wednesday. As the Crypto King consolidates, bulls appear to be mulling another breakout attempt to reclaim $80,000 and push beyond the supply zone at $82,500.
Wed, Aug 26
Japanese Yen: BoJ hike expectations support JPY against US Dollar – MUFG
MUFG’s Derek Halpenny notes the Japanese Yen is firmer versus most G10 currencies as markets increasingly price a Bank of Japan rate hike in September.
Wed, Aug 26
WTI Oil drops below $80 amid hopes of Hormuz reopening, US-Iran de-escalation
Crude prices extend their reversal on Wednesday, with the US benchmark West Texas Intermediate (WTI) trading at the $79.50 area as of writing, highlighting a 9% decline from last week’s highs above $87.00.
Wed, Aug 26
Australian Dollar: Watching 0.7200 resistance against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note AUD/USD extended its consolidation slightly higher, closing at 0.7165 as short-term momentum improves.
Wed, Aug 26
Hungarian Forint: Recovery tied to euro entry story – ING
ING’s Chris Turner reports that the National Bank of Hungary cut its policy rate by 25bp to 5.50%, with Chief Economist Peter Virovacz seeing a 4.75% terminal rate.
Wed, Aug 26
Silver price today: Silver falls, according to FXStreet data
Silver prices (XAG/USD) fell on Wednesday, according to FXStreet data. Silver trades at $68.54 per troy ounce, down 0.16% from the $68.65 it cost on Tuesday.
Wed, Aug 26
US Dollar Index: Range trade persists as data soft – DBS
DBS Group Research economist Philip Wee notes that the DXY Index’s recent recovery stalled slightly above 99 and has reverted to a 98.5–99.0 range after last week’s sell-off linked to higher US long bond yields.
Wed, Aug 26
EUR/JPY Price Forecast: Tests nine-day EMA confluence support near 185.00
EUR/JPY depreciates after registering modest gains, trading around 185.60 during the European hours on Wednesday. The technical analysis of a daily chart indicates that the currency cross is remaining within the ascending channel pattern, signaling an ongoing bullish bias.
Wed, Aug 26
Brent: Diplomatic progress weighs on prices – OCBC
OCBC Bank strategists Sim Moh Siong and Christopher Wong note that improved prospects for shipping through the Strait of Hormuz and diplomatic developments involving Iran and Oman have eased supply concerns, pushing Brent crude below USD90/bbl.
Wed, Aug 26
US Dollar: Shaky basis trade risks weigh – Commerzbank
Commerzbank’s Volkmar Baur explains how the US Treasury Secretary’s vague secondary sanctions comments and falling US yields have left the Dollar stabilizing but vulnerable.
Wed, Aug 26
