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United Kingdom: Energy shock keeps risks elevated – Rabobank
Rabobank's Senior Macro Strategist Stefan Koopman notes UK headline CPI fell to 2.6% in June, below the MPC’s forecast, with broad-based downside surprises and easing domestic pressures.
Fri, Jul 24
Economists agree: Bank of England to stay on hold amid easing inflation outlook
The Bank of England (BoE) is expected to keep its interest rate unchanged at 3.75% at its July 30 monetary policy meeting, according to a Reuters poll of 70 economists. None of the respondents expects a change in interest rates at next week's meeting.
Fri, Jul 24
CEE FX: Higher rates to stabilise regional currencies – ING
ING’s Frantisek Taborsky reports that surging Oil and gas prices triggered a sharp hawkish repricing of policy paths in Poland, the Czech Republic and Hungary, taking implied tightening back to stressed March–April peaks.
Fri, Jul 24
Silver Price Forecast: XAG/USD recovers as the US Dollar eases
Silver (XAG/USD) trades around $58.55 at the time of writing on Friday, up 2.24% on the day, benefiting from a modest pullback in the US Dollar (USD) following its recent rally.
Fri, Jul 24
ECB officials confirm: Eurozone inflation to stay above target for a longer period
The Euro (EUR) trades slightly higher to near 1.1385 against the US Dollar (USD) during the European trading session on Friday. The major currency pair edges up as the US Dollar corrects marginally after a strong upside move the previous day.
Fri, Jul 24
British Pound: Improved UK growth-inflation mix backs Sterling – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad highlights that GBP/USD is consolidating near 1.3300 as United Kingdom (UK) data signal a more favourable growth-inflation mix.
Fri, Jul 24
Euro: ECB hawkish but EUR still disadvantaged against US Dollar – OCBC
OCBC’s Sim Moh Siong and Christopher Wong observe that while the European Central Bank (ECB) left rates unchanged in July and is expected to deliver at least one more 25 bp hike to 2.50% in September, rising energy prices still tilt terms-of-trade in favor of the US Dollar (USD) over the Euro (EUR).
Fri, Jul 24
Federal Reserve: Holding rates while watching inflation risks – Commerzbank
Commerzbank’s Bernd Weidensteiner expects the Federal Reserve to leave the policy rate at 3.50%–3.75% at the upcoming meeting, while debating potential hikes if inflation fails to ease.
Fri, Jul 24
Gold steadies after sharp drop as traders weigh Fed, Middle East risks
Gold (XAU/USD) steadies on Friday after falling nearly 2% the previous day, as surging Oil prices fueled expectations that the Federal Reserve (Fed) may need to raise interest rates amid a worsening inflation outlook.
Fri, Jul 24
Indian Rupee: Oil surge offsets inflow support – Societe Generale
Societe Generale strategists highlight that the Indian Rupee (INR) stayed defensive as Brent Oil rose to $100, countering support from recent policy steps to attract capital inflows.
Fri, Jul 24
European Central Bank: September hike seen as highly likely – Deutsche Bank
Deutsche Bank strategists note that the European Central Bank (ECB) kept its deposit rate at 2.25%, while its communication continued to leave the door open to further tightening.
Fri, Jul 24
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).
Fri, Jul 24
Crypto Today: Bitcoin, Ethereum, XRP pare losses as breakout potential builds
Bitcoin (BTC) is edging higher on Friday, albeit gradually, after reclaiming support above $65,000. Meanwhile, Ethereum (ETH) shows signs of stability near the immediate $1,900 hurdle, backed by mild capital inflows.
Fri, Jul 24
“Still see probability of rate hike higher than hold”: ECB’s 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.
Fri, Jul 24
Bitcoin Weekly Forecast: BTC holds firm, but the $100 Oil threat could change the game
Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone.
Fri, Jul 24
US S&P Global PMI expected to show steady business growth in July
S&P Global will release the July flash Purchasing Managers' Indices (PMIs) for the United States (US) on Friday. These surveys of top private-sector executives are seen as an early indicator of the country’s economic health.
Fri, Jul 24
Turkish Lira: Tight CBRT funding offers marginal support – Commerzbank
According to Commerzbank’s Tatha Ghose, the Central Bank of the Republic of Türkiye (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.
Fri, Jul 24
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).
Fri, Jul 24
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Friday, according to FXStreet data. Silver trades at $58.40 per troy ounce, up 1.98% from the $57.27 it cost on Thursday.
Fri, Jul 24
US Dollar: Fed expectations keep upside in focus – ING
ING’s Chris Turner notes the US Dollar (USD) is supported as higher energy prices fuel expectations of further central bank tightening, with markets pricing more hikes from the European Central Bank (ECB) and Bank of England (BoE).
Fri, Jul 24
