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Oil: Middle East tensions revive inflation channel – BNY
BNY reports that renewed Iranian–U.S. hostilities lifted Brent above 3%, reviving the inflation channel but remaining secondary to Fed and AI valuation drivers.
Wed, Jul 29
Ripple Price Forecast: Eyes $1.10 breakout as Flare Network upgrade boosts XRP utility
Ripple (XRP) holds modest gains, trading around $1.08 at the time of writing on Wednesday. The remittance token mirrors the general neutral-to-bullish outlook in the crypto market, as focus shifts to the Federal Reserve (Fed) rate decision.
Wed, Jul 29
Japanese Yen: Domestic investment shift could support the Yen – BNY
BNY’s Geoff Yu notes Japan’s Government Pension Investment Fund (GPIF) has hired active domestic bond managers for the first time in five years to improve expertise and diversification amid volatile JGB markets. The fund’s domestic bond portfolio has suffered losses despite strong overall returns.
Wed, Jul 29
Copper: Speculative longs rise on tight supply – ING
ING’s Warren Patterson and Ewa Manthey highlight that speculative net long positions in LME Copper increased notably in the latest COTR data, supported by tight supply and low inventories.
Wed, Jul 29
WTI rebounds sharply on fears of renewed escalation in US-Iran war
West Texas Intermediate (WTI) futures on NYMEX trades 6% higher on the day, slightly above $83.00 during the European trading session on Wednesday.
Wed, Jul 29
US Dollar: Stretched positioning caps gains against peers – BNY
BNY’s Geoff Yu notes the US Dollar (USD) enters the Federal Open Market Committee (FOMC) with strong recent demand but stretched positioning, as cross-border buying and late-July spot demand remain supportive.
Wed, Jul 29
British Pound consolidates against Japanese Yen ahead of central bank decisions
GBP/JPY extends its subdued price action on Wednesday, forming a series of small-bodied candlesticks after briefly climbing above 219.00 earlier this month, its highest level since December 2007. At the time of writing, the cross trades around 217.50.
Wed, Jul 29
Australian Dollar: Softer CPI keeps RBA on hold – TD Securities
TD Securities strategists note that Australia’s Q2 Consumer Price Index (CPI) and June headline inflation came in below expectations, easing pressure on the Reserve Bank of Australia (RBA).
Wed, Jul 29
British Pound languishes below 1.3300 heading into Fed and BoE decisions
The British Pound (GBP) has given away previous gains against the US Dollar (USD) on Wednesday and remains practically flat in the daily chart, trading below 1.3300, on track to complete a nearly 1.20% decline over the last two weeks.
Wed, Jul 29
Federal Reserve: Hawkish hold could restore Dollar support – BBH
Brown Brothers Harriman’s Elias Haddad expects the Federal Open Market Committee to keep the federal funds target range unchanged at 3.50%-3.75% for a fifth consecutive meeting.
Wed, Jul 29
Japanese Yen: Fed risk clouds recovery against US Dollar – Rabobank
Rabobank's Senior FX Strategist Jane Foley discusses how the Federal Reserve (Fed) and Bank of Japan (BoJ) decisions could shape USD/JPY, noting that Fed Chair Warsh’s stance on forward guidance adds uncertainty.
Wed, Jul 29
US Dollar: Fed hold to test recent resilience – ING
ING strategists Francesco Pesole and Frantisek Taborsky expect the Federal Reserve to keep rates unchanged, with two dissenters possibly voting for a hike, limiting downside in front-end USD rates.
Wed, Jul 29
Crypto Today: Bitcoin, Ethereum, XRP post modest gains ahead of Fed rate decision
Cryptocurrency prices are broadly stable on Wednesday ahead of the Federal Reserve (Fed) interest rate decision. Bitcoin (BTC) holds above $64,000 but is struggling to sustain its rebound while Ethereum (ETH) sits above the short-term $1,900 support.
Wed, Jul 29
Swiss Franc: Moderate pass-through weigh on CHF against Euro – Commerzbank
Commerzbank’s Michael Pfister analyses how the Swiss National Bank’s recent shift toward tolerating a weaker Swiss Franc affects inflation and EUR/CHF.
Wed, Jul 29
Why is the US Dollar vulnerable when the Federal Reserve is expected to deliver a hawkish hold?
The US Dollar (USD) stands at a critical juncture as financial markets prepare for the Federal Open Market Committee's (FOMC) upcoming interest rate announcement.
Wed, Jul 29
Australian Dollar: Pressured against US Dollar by softer CPI – Societe Generale
Societe Generale analyst highlight that AUD/USD is offered below 0.6950 after softer June Consumer Price Index (CPI), with markets scaling back expectations for an RBA hike.
Wed, Jul 29
Gold struggles for direction ahead of Federal Reserve policy verdict
Gold (XAU/USD) consolidates above $4,000 on Wednesday, as price action remains choppy amid growing caution ahead of the Federal Reserve’s (Fed) monetary policy announcement, while the war in the Middle East intensifies again after a brief lull.
Wed, Jul 29
United States MBA Mortgage Applications down to -6.4% in July 24 from previous 1.9%
Wed, Jul 29
EUR/USD Price Forecast: Struggling below 1.1400 with all eyes on the Fed
The Euro (EUR) holds marginal gains against the US Dollar on Wednesday after finding some support in the mid-range of the 1.1300s earlier this week but remains unable to find acceptance above 1.1400.
Wed, Jul 29
Yemen's Houthis mulls imposing fees on vessels transiting Southern Red Sea route
According to a Reuters report, Yemen's Houthis are considering imposing fees on commercial ships sailing through the Southern Red Sea. The report also shows that Houthis might exempt China's shipping fleet from any fee system.
Wed, Jul 29
