Market news
Crypto, stocks, forex and macro, aggregated for traders.
EUR/JPY Holds Near One-Month High, Edges Lower Despite ECB Rate Hike Expectations
The euro traded slightly lower against the yen on Thursday, hovering around 185.80 after hitting a one-month high earlier, despite expectations of further ECB rate hikes.
Gold sellers push XAU/USD to fresh weekly low near $4,000
The US Dollar strengthened on Thursday, reversing a two-day decline, amid persistent Middle East tensions. This pushed XAU/USD to a fresh weekly low below the $4,000 mark.
NZD/USD Holds Near One-Month High as RBNZ Hawkish Stance Supports Kiwi
NZD/USD is hovering around 0.5842 after hitting a one-month high, supported by the RBNZ's hawkish policy outlook but capped by a stronger US dollar. Buyers remain in control near the recent peak.
Pound Sterling Retreats as Strong US Data Boosts Dollar
The British Pound fell over 0.28% against the US Dollar following strong US economic data, reversing some of Wednesday's gains as risk aversion boosted the safe-haven Greenback.
Swiss Franc Weakens as Middle East Tensions Support Fed Rate Hike Bets
The Swiss Franc fell against the US Dollar on Thursday as geopolitical tensions persisted and the Greenback rebounded. USD/CHF traded around 0.8080, up 0.35% on the day.
AUD/USD Holds Above 0.7000 as US Dollar Weakens on Mixed Retail Data
The Australian dollar continues its recovery, trading near 0.7010 as the US dollar struggles for momentum after mixed US retail sales figures.
USD/CAD Flat After BoC Holds Rate, Scotiabank Eyes 1.3981
The Canadian dollar is trading flat against the US dollar following the Bank of Canada's decision to leave policy unchanged. Scotiabank strategists note the pair may target the 1.3981 level.
ECB Rate Hike Risk Returns as Oil and Middle East Tensions Rise – ING
ING's Carsten Brzeski argues the ECB is likely to hold rates next week but a surprise hike cannot be ruled out due to renewed Middle East tensions and rising oil prices, which have restored the pre-June macro backdrop.
BBH: BoE Hikes Not Bullish for British Pound as UK GDP Details Disappoint
Brown Brothers Harriman's Elias Haddad says UK May GDP beat expectations on services, but underlying details disappointed as production and construction contracted, making BoE rate hikes less supportive for sterling.
BoC Holds at 2.25%, Removes Hike Language: CAD Could Remain Stuck
The Bank of Canada kept its key interest rate at 2.25% and dropped language suggesting further tightening, leading analysts to expect the Canadian Dollar to remain range-bound against the US Dollar.
UK GDP Grows 0.1% in May; TD Securities Notes Q2 Risks
UK GDP rose 0.1% month-on-month in May, matching TD Securities' forecast and topping market expectations for flat growth. However, the firm flags potential risks in the second quarter.
EUR/USD snaps two-day winning streak as USD steadies
EUR/USD trades with a downside bias on Thursday, ending a two-day winning streak as the US Dollar stabilizes after recent losses triggered by softer-than-expected US inflation data.
Canadian Dollar Extends Gains Against US Dollar, USD/CAD at 1.4010
The Canadian Dollar strengthens further, pushing USD/CAD to 1.4010, though the Bank of Canada's stance may limit additional upside.
Dollar Index Recovers After Initial Drop on Soft US Inflation Data
The US Dollar Index has regained traction after a two-day decline triggered by softer-than-expected June CPI and PPI data.
BOK 25bp Hike Holds Door Open for August Follow-Up – SocGen
Societe Generale notes that the Bank of Korea's 25 basis point rate hike to 2.75% was unanimously supported and the July statement was more hawkish than May, keeping the possibility of another hike at the August 27 meeting alive.
GBP Supported by Hopes of Fiscally Conservative Chancellor – OCBC
OCBC strategists note that expectations of a fiscally prudent chancellor under UK PM Burnham are lending support to the British pound.
GBP/JPY Eases After Hitting Highest Level Since 2007
The British pound edged lower against the yen on Thursday, taking a breather after reaching its strongest level since December 2007 the previous day, supported by reduced political uncertainty and expectations of more expansive fiscal policy.
BBH: US Dollar Decline Overdone, Steadies Near One-Month Low
Brown Brothers Harriman analyst Elias Haddad says the recent US dollar decline appears overdone, noting the currency has steadied near a one-month low after softer PPI and CPI data weighed on Fed rate expectations.
Bank of Canada Holds Rate at 2.25%, Softens Guidance – TD
TD Securities notes the BoC held its policy rate at 2.25% and removed references to rate-cut risks and consecutive hikes, interpreted as mildly dovish.
Sterling Short Squeeze on Reports of Fiscal Prudence
A powerful short squeeze in Sterling was triggered by reports that Shabana Mahmood could become Andy Burnham's chancellor, a choice seen as less fiscally risky.
Gold Edges Lower as Energy-Driven Inflation Fears Sustain Fed Rate Hike Bets
Gold slipped on Thursday as traders focused on rising Middle East tensions and the potential for higher energy prices to reignite inflation, keeping Federal Reserve rate hike bets alive despite recent softer US CPI data.
BoC Holds Rate at 2.25%, USD/CAD Consolidates
The Bank of Canada left its policy rate unchanged at 2.25% for a sixth consecutive meeting. USD/CAD consolidates after benign US CPI and PPI data.
Euro Slips to 1.1460 as US Dollar Rebounds
The Euro edged lower against the US Dollar on Thursday, retreating from earlier gains to trade near 1.1460.
UOB: USD/JPY Downward Momentum Points to Lower Intraday Range
United Overseas Bank analysts note a slight increase in downward momentum for USD/JPY, suggesting a lower intraday trading range.