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US Dollar: Consolidation view into ISM and payrolls – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad notes the Dollar is mixed as global equities rise and Oil stabilizes. Haddad argues the USD rally from May has likely ended, with US Dollar Index (DXY) expected to consolidate in a 96.00–100.00 range.
Wed, Aug 5
Brent: Price slips on Hormuz deal hopes – Rabobank
Rabobank’s Global Daily notes Brent futures fell to around $79 as reports suggested the US, Iran and Oman are close to a temporary deal to reopen the Strait of Hormuz.
Wed, Aug 5
EUR/USD Price Forecast: Trades near crucial level of 1.1550
The Euro (EUR) trades 0.15% higher at around 1.1550 against the US Dollar (USD) during the European trading session on Wednesday. The major currency pair gains as the US Dollar faces selling pressure ahead of a busy North American session.
Wed, Aug 5
Silver Price Forecasts: XAG/USD, capped below $62.00 but steady near one-month highs
Silver (XAG/USD) has found some resistance at the $61.90 area on Wednesday, before pulling back to $61.24 at the moment of writing, but remains above the top of the last four weeks’ range, at the $60.90 area.
Wed, Aug 5
Euro: PMI resilience tempers stagflation fears – BNY
BNY’s Geoff Yu notes Eurozone PMIs have surprised to the upside, with the composite at an eight‑month high and services back in expansion, easing immediate stagflation worries.
Wed, Aug 5
Gold advances to one-month high as Hormuz reopening hopes ease inflation fears
Gold (XAU/USD) climbs to a one-month high on Wednesday as renewed optimism over the reopening of the Strait of Hormuz sends Oil prices lower. At the time of writing, XAU/USD trades around $4,155, up nearly 1.90% on the day.
Wed, Aug 5
US Dollar: Soft labor firmer services outlook – TD Securities
TD Securities strategists notes that United States (US) JOLTS job openings fell more than expected in June, though they remain elevated versus private indicators. They also expect the United States (US) ISM Services Index to rise in July, projecting 55.0 versus June’s 54.0 and a consensus of 54.5.
Wed, Aug 5
United States Dollar Index trades subduedly below 100.00 ahead of US data
The US Dollar (USD) reflects a subdued performance against its peers ahead of the United States (US) ADP Employment Change and the ISM Services Purchasing Managers’ Index (PMI) data for July, which will be published in the North American session.
Wed, Aug 5
Crypto Today: Bitcoin, Ethereum advance while XRP lags amid US-Iran deal optimism
Bitcoin (BTC) hovers near $64,000 at the time of writing on Wednesday, buoyed by a marginal improvement in crypto sentiment amid growing optimism that the United States (US) and Iran could potentially reach an agreement to open the Strait of Hormuz this week.
Wed, Aug 5
WTI recovers part of its losses, caught between technical rebound, diplomatic optimism
West Texas Intermediate (WTI) trades around $75.50 on Wednesday at the time of writing, up 1.56% on the day, as investors take advantage of a technical rebound following the more than 5% decline recorded in the previous day.
Wed, Aug 5
British Pound extends gains to 212.50 against the Yen after upbeat UK services data
The British Pound (GBP) extends gains for the second consecutive day against the Japanese Yen (JPY) on Wednesday, with the GBP/JPY pair holding around 212.30 after bouncing from five-month lows at 209.55 on Monday.
Wed, Aug 5
Indian Rupee: Dovish MPC hold supports prolonged pause – Standard Chartered
Standard Chartered Bank economists Saurav Anand and Anubhuti Sahay note that India’s Monetary Policy Committee (MPC) kept the repo rate at 5.25% with a neutral stance, sounding more dovish than in April and June.
Wed, Aug 5
Bitcoin Price Prediction: BTC extends gains as ETF inflows, US-Iran peace hopes ease market fears
Bitcoin (BTC) trades above $64,316 at the time of writing on Wednesday, heading toward the key resistance zone, where a breakout suggests further gains.
Wed, Aug 5
Japanese Yen: Gains seen while below 160.00 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann describe USD/JPY price action as muted, with the pair confined to 157.15–157.95 and momentum turning flat. They expect intraday range trading between 157.00 and 158.30.
Wed, Aug 5
Gold Price Forecast: XAU/USD hits fresh weekly highs beyond the top of a triangle pattern
Gold (XAU/USD) has accelerated its recovery on Wednesday, favoured by a softer US Dollar as lower Oil prices and downbeat US macroeconomic data cooled market expectations of Federal Reserve (Fed) rate hikes on Tuesday.
Wed, Aug 5
Hungarian Forint: MPC minutes key for support against Euro – Commerzbank
Commerzbank’s Tatha Ghose explains that the Hungarian Forint (HUF) has recently given back gains as external shocks and an ongoing Magyar Nemzeti Bank (MNB) easing cycle erode support.
Wed, Aug 5
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data. Silver trades at $61.52 per troy ounce, up 2.87% from the $59.81 it cost on Tuesday.
Wed, Aug 5
New Zealand Dollar comes under pressure after sharp deterioration in labor market
NZD/USD declines to around 0.5860 on Wednesday at the time of writing, down 0.54% on the day, following the release of weaker-than-expected New Zealand employment data. The New Zealand Dollar (USD) comes under selling pressure as investors reassess the outlook for monetary policy.
Wed, Aug 5
Danish Krone: Weakness seen as structural against Euro – Nordea
Nordea’s Chief Analyst Jan Størup Nielsen notes that Nationalbanken did not intervene in July to support Denmark’s fixed exchange rate policy, after a small purchase of kroner in June.
Wed, Aug 5
GBP/USD Price Forecast: Trades around 1.3450; bulls retain control above 100-hour SMA
The GBP/USD pair gains follow-through positive traction for the second straight day and sticks to modest intraday gains through the first half of the European session on Wednesday.
Wed, Aug 5
