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Euro falls as strong US jobless claims support US Dollar
EUR/USD trades lower near the 1.1440 area on Thursday, retreating around 0.2% as the US Dollar (USD) gains support from stronger-than-expected United States (US) labor market data.
Thu, Jul 16
European Union: Trade tools and China rebalancing – Standard Chartered
Standard Chartered analysts Christopher Graham and Carol Liao discuss how the European Union is seeking to rebalance its trade relationship with China without shutting the door on engagement.
Thu, Jul 16
Silver Price Forecast: XAG/USD tests the $55 floor as sellers retain control
Silver (XAG/USD) extends its decline on Thursday as the US Dollar (USD) rebounds and US Treasury yields stabilize following a two-day drop driven by softer-than-expected US inflation data. At the time of writing, XAG/USD trades around $55.75, down 3.50% on the day.
Thu, Jul 16
Gold loses track of $4,000, drops as Oil shock revives Fed bets
Gold price drops over 1.80% as tensions between the US and Iran fuel fears of a possible Oil supply disruption, driving energy prices higher and potentially triggering another round of inflation. The XAU/USD trades at $3,994.
Thu, Jul 16
British Pound: Dips against US Dollar seen as buying opportunity – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note GBP/USD is slightly weaker as it gives back part of yesterday’s strong advance, helped by expectations of a centrist, market-friendly Burnham government.
Thu, Jul 16
ONDO Price Forecast: ONDO’s rally nears $0.40 as network partners with Japan’s SBI Group
Ondo Finance (ONDO) edges higher toward the nearest resistance at $0.40 at the time of writing on Thursday. The rally follows the network’s strategic partnership with Japan’s SBI Group, shrugging off a broader cool-down in the cryptocurrency market.
Thu, Jul 16
Euro edges lower against the Japanese Yen despite ECB rate hike expectations
EUR/JPY trades around 185.80 at the time of writing on Thursday, little changed on the day after reaching a one-month high earlier this week.
Thu, Jul 16
The Dow Jones Industrial Average discovers the virtue of owning no semiconductors
The Dow Jones Industrial Average added roughly 160 points, or 0.3%, to trade near 52,800 on Thursday while the S&P 500 slipped 0.2% and the Nasdaq Composite shed 0.9%.
Thu, Jul 16
NZD/USD Price Forecast: Buyers retain the upper hand near one-month highs
NZD/USD fluctuates between minor gains and losses on Thursday as the Reserve Bank of New Zealand’s (RBNZ) hawkish stance supports the Kiwi, while a stronger US Dollar (USD) caps the upside. At the time of writing, the pair trades around 0.5842 after climbing to a one-month high earlier this week.
Thu, Jul 16
British Pound pulls back as solid US data revives the US Dollar
The Pound Sterling trims some of its Wednesday gains versus the US Dollar, dives by over 0.28% after solid US data and amid risk aversion, and augments the safe-haven appeal of the Greenback. At the time of writing, the GBP/USD trades at 1.3502, after peaking near 1.3545.
Thu, Jul 16
Crude Oil watches the Houthis aim at the last export route that still works
West Texas Intermediate (WTI) spent Thursday's European morning grinding down to 78.37 before ripping nearly two dollars to 80.29 when the Houthis threatened to target all Saudi oil sites and key facilities should Saudi Arabia escalate its actions against Yemen.
Thu, Jul 16
United States 4-Week Bill Auction: 3.66% vs 3.63%
United States 4-Week Bill Auction: 3.66% vs 3.63%
Thu, Jul 16
Swiss Franc falls as Middle East tensions keep Fed rate hike expectations alive
The Swiss Franc (CHF) weakens against the US Dollar (USD) on Thursday as the Greenback regains its footing following a two-day decline. At the time of writing, USD/CHF trades around 0.8080, up nearly 0.35% on the day, rebounding from an intraday low of 0.8044.
Thu, Jul 16
Australian Dollar holds above 0.7000 as US Retail Sales lose momentum
AUD/USD trades slightly higher near the 0.7010 area on Thursday, extending its recent recovery as the US Dollar (USD) struggles to gain sustained momentum following mixed United States (US) economic data.
Thu, Jul 16
Canadian Dollar: Gains eye 1.3981 against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret report USD/CAD is flat after the Bank of Canada (BoC) left policy unchanged and maintained a cautious tone on growth and inflation.
Thu, Jul 16
European Central Bank: Rate hike risk returns with Oil – ING
ING’s Carsten Brzeski argues that the European Central Bank is likely to keep rates unchanged next week but a surprise hike cannot be ruled out. He notes that renewed Middle East tensions and rising Oil prices have restored the macro backdrop seen before the June meeting.
Thu, Jul 16
British Pound: BoE hikes not seen bullish – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad highlights that United Kingdom (UK) May Gross Domestic Product (GDP) slightly beat expectations, driven by services, but underlying details disappointed as production and construction contracted and growth relied on one subsector.
Thu, Jul 16
United States EIA Natural Gas Storage Change below forecasts (45B) in July 10: Actual (41B)
United States EIA Natural Gas Storage Change below forecasts (45B) in July 10: Actual (41B)
Thu, Jul 16
The BoC holds at 2.25% and removes hike language: Why the Canadian Dollar could remain stuck
The Canadian Dollar (CAD) has entered a consolidation phase against the US Dollar (USD) following a volatile week.
Thu, Jul 16
Eurozone: Energy shock risks for inflation – Rabobank
Rabobank’s Bas van Geffen says renewed US-Iran hostilities have shifted Eurozone inflation risks upward. June’s softer-than-expected flash estimate may buy the ECB time in July, but the earlier decline in energy prices has reversed, pointing to firmer inflation readings ahead.
Thu, Jul 16
