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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.
Gold Price Slides Below $4,030, Eyes Further Downside Below $3,940
Gold (XAU/USD) fell 0.7% to near $4,030 during European trading, pressured by persistent inflation concerns and elevated energy prices amid escalating US military aggression. The metal remains below its 20-day EMA, with analysts eyeing further losses under $3,940.
British Pound Rallies to Multi-Month Highs on Mahmood Appointment Reports
The British Pound has surged to multi-month highs against the US Dollar and Euro following reports of a potential appointment of Mahmood to a key economic role.
Societe Generale: USD/BRL Break Below 50-DMA Signals Move to 5.00
Societe Generale notes that USD/BRL has fallen to 5.07 after threatening 5.20 earlier this month, with a break below the 50-day moving average opening the door to a decline toward 5.00.
EUR/GBP Rises on Hawkish ECB Comments, Mixed UK Data
EUR/GBP edged up 0.24% to 0.8485 as hawkish comments from the European Central Bank outweighed mixed UK economic data.
AUD Consolidates Gains as USD Weakens on Soft US Inflation
The Australian Dollar held near recent highs on Thursday as the US Dollar slipped after unexpectedly soft US inflation data dampened expectations of immediate Federal Reserve tightening.
British Pound Strengthens on Fiscal Reassurance, MUFG Says
The British Pound gained sharply after reports that Shabana Mahmood is set to become the next UK chancellor, reinforcing expectations of sound public finances, according to MUFG analyst Lee Hardman.
US Dollar Remains Under Pressure After Soft US CPI and PPI Data – ING
The US dollar continues to weaken following softer-than-expected US CPI and PPI data, according to ING strategists. FX volatility is declining while Brent crude oil prices remain around current levels.
Silver Falls 1.34% to $57.00 per Troy Ounce
Silver (XAG/USD) fell 1.34% on Thursday to $57.00 per troy ounce, down from $57.77.
EUR/CAD Holds Gains After Eurozone Trade Balance Data
The euro strengthened against the Canadian dollar for a second straight session, trading near 1.6100 during European hours following the release of Eurozone trade balance figures.
Commerzbank: New Zealand Dollar Vulnerable to Softer Data
Commerzbank strategist Volkmar Baur warns that the New Zealand Dollar's recent recovery is fragile, with softer economic data posing downside risks despite market expectations of further rate hikes.
EUR/GBP Edges Higher After Hitting 13-Month Low, Bears Pause
EUR/GBP recovered slightly on Thursday after falling to a 13-month low on Wednesday, when the pound rallied on reports that UK Prime Minister Burnham will appoint a fiscally conservative finance minister.
UOB: AUD/USD Breaks Above 0.7015 Resistance, Momentum Points Higher
UOB analysts note AUD/USD broke key resistance at 0.7015, reaching 0.7021, with further upside expected in the near term.
Pound Strengthens on Reports of New UK PM Appointing Shabana Mahmood as Finance Minister
The British pound strengthened across the board amid reports that incoming UK Prime Minister Burnham plans to appoint Home Secretary Shabana Mahmood as the new finance minister. Meanwhile, persistent US inflation worries continue to weigh on the dollar.
EUR/GBP Falls to 0.84 as Pound Extends Gains, SocGen Says Move Stretched
EUR/GBP has dropped to the 0.84 handle, its lowest since June last year, after breaking a Head and Shoulders neckline at 0.8610. Societe Generale notes the move appears stretched.
Euro Holds Gains Near One-Month Highs at 186.00 Against Yen
The Euro trades nearly flat just below one-month highs at 186.00 against the Japanese Yen on Thursday, consolidating after a 0.8% rally.
UK GDP Beats Expectations but Doubts Linger Over Sustainability
UK monthly GDP growth exceeded expectations, continuing a pattern of strong early-year performance. However, analysts expect activity to slow later in the year, raising doubts about sustained momentum.
Pound Strengthens as USD Declines on Oil Support Loss and Middle East Tensions
The US Dollar is losing support from rising oil prices, with Brent near monthly highs and the USD Index declining. Investors are avoiding the greenback as a safe haven amid Middle East escalation, boosting the British Pound.