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Canadian Dollar: BoC hold and guidance shift – TD Securities
TD Securities notes the Bank of Canada (BoC) kept its policy rate at 2.25% and softened guidance by removing references to both rate-cut risks and consecutive hikes. Markets interpreted the statement as mildly dovish, but prior moves limited volatility.
Fxstreet
Thu, Jul 16
Euro: Policy divergence and carry flows – BNY
BNY’s Geoff Yu says iFlow Carry is beginning to resemble its 2023 upswing. Neutral positioning in carry currencies, including those funded in the dollar, leaves room for exposures to rebuild. G10 FX attracted broad inflows, while EM FX selling was led by HUF, ZAR and KRW.
Fxstreet
Thu, Jul 16
US Dollar: Retail sales slowdown view – TD Securities
TD Securities’ macro team expects June US Retail Sales to stagnate at 0.0% month-on-month, versus the consensus 0.2%. They see weakness led by the control group, negative gasoline sales from falling prices, and a drop in food services, partly offset by strong auto sales.
Fxstreet
Thu, Jul 16
Australian Dollar: Momentum points to higher levels against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note that AUD/USD has broken above significant resistance at 0.7015, with price action extending to 0.7021. In the next 24 hours, the Australian Dollar is expected to stay in a higher 0.6985–0.7025 range.
Fxstreet
Thu, Jul 16
British Pound: Gains near key projections against Euro – Societe Generale
Societe Generale’s Kenneth Broux highlights that EUR/GBP has extended its decline after breaking a Head and Shoulders neckline at 0.8610, with the move now seen as stretched. The cross has dropped to a 0.84 handle, its lowest since June last year, a 4.5% fall since November.BoE’s Breeden: The central bank remains vigilant to inflation risks
Bank of England (BoE) Deputy Governor Sarah Breeden said during the European trading session on Thursday that the United Kingdom (UK) inflation would have been at the central bank’s 2% target if the Middle East war had not happened.Fxstreet
Thu, Jul 16
SNB Minutes: Willingness to intervene against excessive Swiss Franc appreciation increases
The Swiss Franc (CHF) appears to remain muted following the release of the SNB meeting minutes. In the European trade, USD/CHF rises to near 0.8066 due to slight gains in the US Dollar (USD).Fxstreet
Thu, Jul 16
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