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Fed Chair Warsh: Inflation will not be permanent
Federal Reserve (Fed) Chair Kevin Warsh said on Wednesday that current inflation pressure will not be permanent, while acknowledging that the latest inflation measures remain unsatisfactory.
Wed, Jul 15
British Pound rallies as soft US PPI hits US Dollar
The Pound Sterling rises by some 0.60% against the US Dollar after the latest Producer Price Index (PPI) in the US showed prices edging lower, driven by the dip in energy prices since late May. At the time of writing, the GBP/USD trades at 1.3460 after bouncing off a daily low of 1.3370.
Wed, Jul 15
Colombia Retail Sales (YoY) came in at 11.7%, above expectations (11.2%) in May
Colombia Retail Sales (YoY) came in at 11.7%, above expectations (11.2%) in May
Wed, Jul 15
Fed Chair Warsh: One-time change in prices isn't necessarily inflationary
Federal Reserve (Fed) Chair Kevin Warsh said on Wednesday that recent inflation figures provide an imperfect measure of underlying inflation. Warsh made the remarks while testifying on the Semiannual Monetary Policy Report before the US Senate Committee on Banking, Housing and Urban Affairs.
Wed, Jul 15
Japanese Yen: Policy urgency and mixed data – BNY
BNY’s Geoff Yu highlights Japanese Prime Minister Sanae Takaichi’s warning that Japan must build a strong economy now, rejecting claims that an economic blueprint drove the JGB selloff.
Wed, Jul 15
Canadian Dollar shows little reaction to Bank of Canada interest rate decision
USD/CAD trades flat on Wednesday as traders show a limited reaction to the latest Bank of Canada (BoC) monetary policy announcement. At the time of writing, the pair trades around 1.4061, hovering near a one-month low.
Wed, Jul 15
Euro: Energy risks cap upside against US Dollar – ING
Chris Turner at ING says EUR/USD rallied on softer US CPI but warns that rising Oil and European natural gas prices limit upside. He expects EUR/USD to struggle above 1.1460/70 and potentially retreat toward 1.1360/80 if Oil gains another leg higher.
Wed, Jul 15
United States EIA Crude Oil Stocks Change came in at -1.693M, above forecasts (-2.6M) in July 10
United States EIA Crude Oil Stocks Change came in at -1.693M, above forecasts (-2.6M) in July 10
Wed, Jul 15
Fed’s Williams: June CPI consistent with progress on inflation
Federal Reserve (Fed) Bank of New York President John Williams said on Wednesday that the latest United States (US) Consumer Price Index (CPI) report was consistent with the inflation progress he hopes to see over the coming months.
Wed, Jul 15
Australian Dollar rises amid softer US PPI
AUD/USD trades higher near the 0.7000 level on Wednesday as the Australian Dollar (AUD) benefits from broad US Dollar (USD) weakness following softer-than-expected United States (US) producer inflation data.
Wed, Jul 15
US Dollar: Limited downside after CPI – BBH
Brown Brothers Harriman’s Elias Haddad notes the Dollar has steadied after its post-CPI slide, with US economic outperformance, a higher-for-longer Federal Reserve stance and strong foreign demand for US securities limiting further downside.
Wed, Jul 15
British Pound: Honeymoon risks for Pound – Rabobank
Rabobank's Senior FX Strategist Jane Foley discusses the British Pound's (GBP) strong performance, noting GBP is the second-best G10 currency over three months despite no Bank of England (BoE) hikes.
Wed, Jul 15
Euro finds support as soft US PPI weighs on US Dollar
EUR/USD recovers its intraday losses on Wednesday as the US Dollar (USD) comes under pressure after the latest US inflation data surprised to the downside. At the time of writing, the pair trades around 1.1430 after hitting an intraday low of 1.1406.
Wed, Jul 15
Canada BoC Interest Rate Decision in line with expectations (2.25%)
Canada BoC Interest Rate Decision in line with expectations (2.25%)
Wed, Jul 15
Ripple Price Forecast: XRP extends gains as cooling signs in US inflation mount
Ripple (XRP) holds above support reclaimed at $1.10 at the time of writing on Wednesday, extending its rally after the US Producer Price Index (PPI) data for June showed that price pressures in the world’s largest economy are cooling.
Wed, Jul 15
Brazilian Real: Year-end weakness forecast against US Dollar – Rabobank
Rabobank strategists Mauricio Une and Renan Alves note that the US Dollar (USD) ended the previous week at Brazilian Real (BRL) 5.1086, with the Brazilian Real appreciating 1.2% and ranking third among 24 emerging currencies.
Wed, Jul 15
Euro: ECB watching energy shock and expectations – BNY
BNY’s Geoff Yu reports that European Central Bank (ECB) officials Piero Cipollone and Martin Kocher are focused on preventing the energy shock and Middle East uncertainty from feeding broader Eurozone inflation.
Wed, Jul 15
United Kingdom: Market-friendly chancellor prospects – TD Securities
TD Securities’ James Rossiter discusses UK political developments and their market implications, focusing on the race for the next Chancellor under expected Prime Minister Burnham.
Wed, Jul 15
Euro weakens against British Pound as Bank of England rate hike bets rise
EUR/GBP stays under pressure as reduced political uncertainty in the United Kingdom and expectations of higher Bank of England (BoE) interest rates keep the British Pound (GBP) favoured over the Euro (EUR).
Wed, Jul 15
United States annual producer inflation drops to 5.5% in June vs. 6.2% expected
Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), declined to 5.5% on a yearly basis in June from 6% in May, the US Bureau of Labor Statistics (BLS) reported on Wednesday. This reading came in below the market expectation of 6.2%.
Wed, Jul 15
