Market news
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Bank of Canada Expected to Hold Rate at 2.25% for Sixth Time
The Bank of Canada is widely expected to keep its policy rate unchanged at 2.25% on Wednesday, marking the sixth consecutive meeting with no change.
ING: US Inflation Relief Supports Koruna and Forint
ING strategist František Táborský notes that lower US inflation and reduced Fed rate hike expectations are providing relief for Central European currencies, particularly the Czech koruna and Hungarian forint. He maintains a bullish outlook, expecting further gains.
USD/CAD Pulls Back After Failing at 1.4130, Loonie Gains
Societe Generale analysts note USD/CAD is retreating after failing to break above 1.4130, with interim resistance now near 1.4250. The move supports the Canadian dollar from a technical perspective.
USD/CHF retakes 0.8100 as bullish setup eyes YTD high
The USD/CHF pair attracted dip-buyers on Wednesday, climbing back above 0.8100 and moving away from the weekly low near 0.8060 as the bullish setup targets the year-to-date high set on Tuesday.
USD/JPY Range-Bound at 160.60–163.00, UOB Says
UOB analysts report USD/JPY traded in a 161.62–162.47 range, closing at 162.23, and expect consolidation within a 160.60–163.00 band.
GBP/USD Edges Higher on Soft US CPI Data, Targets 1.3500
The British Pound rose 0.1% to 1.3403 against the US Dollar as soft US CPI data weakened the dollar, pushing GBP/USD towards the 1.3500 target.
MUFG: Softer US Inflation Trims Yield Upside, Lowers Fed Hike Expectations
MUFG analyst Lloyd Chan notes that softer US inflation in June has reduced upside risks to yields, leading markets to unwind July Fed hike pricing and scale back tightening expectations, weighing on the US dollar.
Versus Trade CEO Discusses AI Impact on Forex Markets
In an interview with FXStreet's CEO, Versus Trade CEO Vitaly Bulinin discusses the transformative shifts in forex markets and the role of AI, noting that improved tools and community feedback have lowered the learning curve for traders.
Softer US Inflation Reduces Fed Hike Bets, BoC Seen on Hold
US inflation data came in softer than expected, reducing bets on a Federal Reserve rate hike, while Middle East tensions keep oil prices supported. The Bank of Canada is expected to hold its policy rate steady.
AUD/USD Momentum Builds Toward 0.7015 – UOB
UOB analysts note AUD/USD surged to 0.6992 after an earlier dip, with strong short-term momentum pointing to further gains toward 0.7015.
NZDJPY Poised for Bullish Wave (5) After Corrective Pullback
NZDJPY appears to have completed a corrective wave (4) pullback, setting the stage for a bullish wave (5) that could target the 96–97 area initially.
GBP/JPY Nears Multi-Year Peak as Rate Gap, Iran Risks Weigh on Yen
The GBP/JPY cross climbed to a fresh weekly top around 217.70, supported by the UK-Japan interest rate differential and geopolitical risks from Iran undermining the Japanese yen.
Euro Recovers Against Canadian Dollar, BoC Meeting in Focus
The Euro snapped a three-day losing streak against the Canadian Dollar, rising 0.13% to near 1.6078 as traders eye the upcoming Bank of Canada policy decision.
GBP/USD Advance Stalls, UOB Sees Neutral Range View
UOB analysts note GBP/USD's recent rally has stalled, with the pair closing at 1.3387 after touching 1.3442. Intraday range is seen between 1.3360 and an unspecified upper bound.
DBS Warns USD Long Positions Vulnerable After CPI Surprise
DBS economist Philip Wee warns that speculative long positions in the US dollar are at risk following June's US CPI data, which surprised to the downside.
Gold Rebound Supported by Softer US CPI Data, Analysts Say
Gold has rebounded from sub-4000 levels after softer US CPI data pared Fed hike expectations and pushed down the USD and front-end US Treasury yields, according to OCBC strategists.
Silver Holds Below $59.00 Despite Weak USD
Silver (XAG/USD) trades lower near $58.50 after failing to hold above $59.00. Geopolitical tensions in Iran outweigh the positive effect of a weaker US Dollar Index.
Indian Rupee Strengthens as Fed Rate Hike Bets Diminish
The Indian Rupee gained ground against the US Dollar on Wednesday as traders reduced expectations for further Federal Reserve interest rate hikes.
Risk Appetite Grows in Asia; Hynix +8%, Trump Positive, Mixed China Data
Asian markets saw increased risk appetite as SK Hynix shares surged 8% and Donald Trump adopted a more positive tone. Mixed Chinese economic data and anticipation of a Bank of Korea rate hike tempered sentiment.
EUR/GBP Gains to 0.8535 as Oil Surge Boosts ECB Rate Hike Bets
The euro strengthened against the pound, pushing EUR/GBP to near 0.8535 in early European trading. Rising oil prices have reignited inflation concerns, prompting increased expectations for rate hikes from both the ECB and the Bank of England.
Dollar Index May Rebound from 100.40 After Soft US CPI
A weaker-than-expected US CPI print for June 26 pulled the Dollar Index lower, but analysts suggest it could bounce back from the 100.40 level, allowing the euro, Australian dollar, pound, and yen to strengthen.
EUR/USD Bulls Cautious Below 1.1470 Hurdle, 23.6% Fibo in Focus
EUR/USD attracts dip-buyers after a pullback from the 1.1460-1.1470 resistance zone, but remains confined below the 23.6% Fibonacci retracement level and the 1.1470 hurdle, keeping bulls cautious within a multi-week range.
AUD/JPY Gains Traction Above 113.00, Bullish Trend Remains Firm
The AUD/JPY cross traded higher around 113.25 during early European hours, supported by the Japanese Yen weakening after reports on the Government Pension Investment Fund.
S&P Global Reaffirms Indonesia's Stable Rating, IDR Strengthens
The Indonesian Rupiah gained for a second day after S&P Global Ratings reaffirmed the country's investment-grade credit rating with a stable outlook.