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Brent: Price spike still below stress threshold – Deutsche Bank
Deutsche Bank strategists highlight a sharp two-day rally in Brent Oil driven by geopolitical tensions and Gulf-related policy headlines.
Wed, Jul 15
Euro trims gains against the Japanese Yen but maintains a near-term bullish trend
The Euro (EUR) pulls back from intra-week highs just above 185.60 against the Japanese Yen (JPY) on Wednesday but maintains its immediate bullish bias, trading 0.5% higher on the week so far.
Wed, Jul 15
Canadian Dollar: BoC seen steady as Oil supports CAD – ING
ING’s Francesco Pesole expects the Bank of Canada to keep rates at 2.25%, with limited incentive to push back against modest December tightening pricing. He sees June CPI potentially falling below 3.0% as petrol prices drop, while core remains near 2.0%.
Wed, Jul 15
PBoC’s Deputy Governor: To continue to implement appropriately loose monetary policy
People’s Bank of China (PBoC) Deputy Governor said during the European trading session on Wednesday that the central bank remains committed to loose monetary policy conditions to support overall demand.
Wed, Jul 15
Australian Dollar: Upside momentum building toward 0.7015 against US Dollar – UOB
United Overseas Bank’s Quek Ser Leang and Lee Sue Ann note AUD/USD surged to 0.6992 after an earlier dip, with strong short-term momentum pointing to further gains. They see scope for a test of 0.6995, while the major resistance at 0.7015 is key.
Wed, Jul 15
GBP/JPY remains close to multi-year peak as UK-Japan rate gap and Iran risks undermine JPY
The GBP/JPY cross scales higher for the second straight day and climbs to a fresh weekly top, around the 217.70 region, during the first half of the European session on Wednesday.
Wed, Jul 15
Dow Jones futures edge lower as traders weigh on US-Iran tensions
Dow Jones futures inch lower by 0.04% to trade around 52,770 during European trading hours on Wednesday. Meanwhile, S&P 500 futures and Nasdaq 100 futures advance 0.19% and 0.79%, trading near 7,600 and 30,030, respectively.
Wed, Jul 15
Federal Reserve: Inflation scenarios guide rate path – ABN AMRO
ABN AMRO’s Rogier Quaedvlieg reviews the latest United States (US) Consumer Price Index (CPI) downside surprise and its implications for the Federal Reserve (Fed).
Wed, Jul 15
Forex Today: US Dollar retreats after soft inflation data, focus shifts to BoC rate decision
Here is what you need to know on Wednesday, July 15:
Wed, Jul 15
US Dollar: Support pillar weakens after CPI – MUFG
MUFG’s Derek Halpenny notes that weaker US CPI has sharply reduced market expectations for a Federal Reserve rate hike, undermining a key source of recent US Dollar strength.
Wed, Jul 15
WTI rises to near $79.50 amid intensifying US-Iran hostilities near Hormuz
West Texas Intermediate (WTI) oil price continues to gain ground for the third successive day, trading around $79.40 per barrel during the European session on Wednesday.
Wed, Jul 15
Euro picks up favoured by a weaker US Dollar but remains within previous ranges
The Euro (EUR) extends gains for the second consecutive day against the US Dollar (USD) on Wednesday, but remains trapped within the trading range seen over the last three weeks, with upside attempts capped below the 1.1470-1.1480 area so far.
Wed, Jul 15
New Zealand Dollar: RBNZ hawkish tone supports gains – OCBC
OCBC’s Sim Moh Siong and Christopher Wong highlight that the New Zealand Dollar (NZD) continues to outperform G10 peers, underpinned by hawkish Reserve Bank of New Zealand (RBNZ) rhetoric and improving domestic activity data.
Wed, Jul 15
China New Loans below expectations (2000B) in June: Actual (1610B)
China New Loans below expectations (2000B) in June: Actual (1610B)
Wed, Jul 15
NZD/USD Price Forecast: Bulls await breakout above 0.5840-0.5845 confluence on weaker USD
The NZD/USD pair holds steady above the 0.5800 mark through the early European session on Wednesday and, for now, seems to have stalled the previous day's late pullback from a nearly one-month high, around the 0.5845 zone.
Wed, Jul 15
Solana Price Forecast: SOL recovers on retail support despite muted ETF inflows
Solana (SOL) price advances above its 50-day Exponential Moving Average (EMA) at $76.82, following a 4% rebound the previous day.
Wed, Jul 15
Brent: Stable prices follow short squeeze – Rabobank
Rabobank strategist Michael Every notes Brent Oil holding steady around $85-86 per barrel after an aggressive short squeeze. Every links this stability to ongoing Middle East tensions, United States (US) sanctions enforcement in Hormuz, and strategic efforts to develop alternative pipelines.
Wed, Jul 15
US Dollar Index Price Forecast: Remains below 101.00 near ascending channel bottom
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its losses for the second successive day, trading around 100.80 during the early European hours on Wednesday.
Wed, Jul 15
China M2 Money Supply (YoY) registered at 8%, below expectations (8.5%) in June
China M2 Money Supply (YoY) registered at 8%, below expectations (8.5%) in June
Wed, Jul 15
Australian Dollar strengthens to near 0.7000 as soft US CPI tempers Fed tightening bets
The AUD/USD pair gathers strength to around 0.6990 during the early European trading hours on Wednesday. The US Dollar (USD) softens against the Australian Dollar (AUD) as markets reduced their bets of a US rate hike after US inflation slowed more than expected in June.
Wed, Jul 15
