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Japanese Yen: Weakness persists as BoJ hike talk grows – MUFG
MUFG’s Derek Halpenny highlights persistent Japanese Yen weakness as USD/JPY trades at levels last seen in 1986, with low volatility undermining the Ministry of Finance’s case for intervention. He notes limited contagion in Japanese bonds but rising inflation and political pressure.
Wed, Jul 22
Japanese Yen gains strongly on hopes of BoJ aggressive tightening cycle
The Japanese Yen (JPY) attracts significant bids against its major currency peers during the European trading session on Wednesday. The USD/JPY pair falls vertically to near 162.65, but quickly recovers some losses and rebounds to around 162.90.
Wed, Jul 22
Norwegian Krone: Rate path hinges on inflation data – Commerzbank
Commerzbank’s Antje Praefcke highlights recent confusion in Norway after delayed core inflation data and an unexpected slowdown in both headline and core rates.
Wed, Jul 22
Dow Jones futures slip as traders adopt caution on US-Iran tensions
Dow Jones futures lose 0.30% to trade around 52,290 during European trading hours on Wednesday. Meanwhile, S&P 500 futures and Nasdaq 100 futures decline 0.38% and 0.85%, trading near 7,520 and 29,070, respectively.
Wed, Jul 22
Euro retreats from one-month top amid JPY intervention risks, BoJ bets as traders eye ECB
The EUR/JPY cross attracts some sellers after an intraday move up to a one-month high and drops to the 185.75-185.70 area during the early part of the European session on Wednesday.
Wed, Jul 22
South Africa Consumer Price Index (MoM) remains at 0.7% in June
South Africa Consumer Price Index (MoM) remains at 0.7% in June
Wed, Jul 22
South Africa Consumer Price Index (YoY): 5% (June) vs 4.5%
South Africa Consumer Price Index (YoY): 5% (June) vs 4.5%
Wed, Jul 22
Hungarian Forint: Rally against Euro reassessed after rate cuts – Societe Generale
Societe Generale strategists analyze the Hungarian Forint (HUF) after the central bank of Hungary, Magyar Nemzeti Bank (MNB) cut its policy rate to 5.75% and signalled more easing. They expect a 5.0% terminal rate by year-end, noting EUR/HUF already bottomed near 348.59.
Wed, Jul 22
Indonesian Rupiah weakens as BI holds rate at 5.75%
USD/IDR has recovered its daily losses, trading around 17,950 during the European hours on Wednesday. The pair appreciates as the Indonesian Rupiah (IDR) struggles after the Bank Indonesia (BI) decided to hold its benchmark rate steady at 5.75% in July.
Wed, Jul 22
BoJ says open to faster rate hike pace as yen adds price risk – Bloomberg
According to a Bloomberg report, the Bank of Japan (BoJ) is widely seen holding interest rates steady at the July meeting.
Wed, Jul 22
WTI Oil hits fresh six-week highs at $86.00 as tensions in the Middle East escalate
Oil prices continue rallying on Wednesday as hostilities in Iran threaten to escalate out of control, and reports of vessels turning around in the Red Sea heighten concerns about supply disruptions.
Wed, Jul 22
British Pound: Inflation trend supports softer Sterling – ING
ING’s Chris Turner relays UK economist James Smith’s view that underlying United Kingdom (UK) inflation is moving in the right direction despite slightly higher core data. Falling food and petrol prices and softer core services inflation suggest domestically generated inflation is benign.
Wed, Jul 22
Forex Today: US Dollar and Oil continue to rise as tensions in Middle East escalate further
Here is what you need to know on Wednesday, July 22:
Wed, Jul 22
Indonesia Bank Indonesia Rate below forecasts (6%): Actual (5.75%)
Indonesia Bank Indonesia Rate below forecasts (6%): Actual (5.75%)
Wed, Jul 22
Canadian Dollar receives support from higher oil prices
USD/CAD declines after to days of gains, trading around 1.4100 during the early European hours on Wednesday. The pair loses ground as the commodity-linked Canadian Dollar (CAD) receives support from higher oil prices.
Wed, Jul 22
Silver Price Forecast: Recovery hits 20-day EMA roadblock
Silver price (XAG/USD) gives back some of its early gains, but is still 0.8% higher at around $59.25 during the European trading session on Wednesday.
Wed, Jul 22
Japanese Yen: Fresh lows signal further losses against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note USD/JPY has surged past 163 for the first time since 1986, raising intervention risks as the Japanese Yen (JPY) weakens.
Wed, Jul 22
Cardano Price Forecast: Short-term recovery lacks retail support
Cardano (ADA) price edges lower on Wednesday after the 50-day Exponential Moving Average (EMA) at $1.770 capped two consecutive days of recovery seen earlier this week. ADA futures point to waning retail traction as Open Interest and trading volume decline amid elevated long liquidations.
Wed, Jul 22
USD/CAD Price Forecast: Consolidates near 1.4100 as bulls await 200-SMA breakout on H4
The USD/CAD pair remains on the back foot through the early European session on Wednesday and, for now, seems to have stalled this week's goodish rebound from the 1.4000 psychological mark, or over a one-month low.
Wed, Jul 22
Euro: Asset flows decouple from currency – BNY
BNY’s Geoff Yu argues that the Euro (EUR) offers limited risk-reward compared with Eurozone assets as European Central Bank (ECB) policy pivots back toward growth.
Wed, Jul 22
