Market news
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USD/CAD Falls to Lowest Since June 3 on Hot Canadian Inflation
USD/CAD dropped to its weakest level since June 3 as hotter-than-expected Canadian inflation supported the loonie while the US dollar stayed under pressure.
EUR/CAD edges higher as Canadian inflation accelerates to 3%
EUR/CAD traded around 1.6070 on Monday, up 0.11%, holding a positive bias even as Canadian inflation came in above expectations.
Canada Headline CPI Accelerates to 3% YoY in July
Canada's headline consumer inflation accelerated to 3% year-over-year in July, beating expectations and up from 2.8% in June.
Canada CPI Rises to 3.0% YoY in July, Above Forecasts
Canadian headline CPI accelerated to 3.0% year-over-year in July, exceeding market expectations and up from 2.8% in June.
GBP/USD bulls target 1.3600 as dollar weakens
GBP/USD pushed higher on Monday as fading expectations of an imminent Federal Reserve rate hike dragged the US dollar lower and lifted sterling to its strongest level since May.
Norwegian Krone Seen Extending Gains Versus Euro
Rabobank says the Norwegian krone is the strongest G10 currency over multiple timeframes and may extend gains against the euro, supported by oil prices, above-target inflation and a hawkish Norges Bank.
EUR/JPY Extends Gains as Bulls Target 185.00 Resistance
The euro rose against the yen for a third consecutive day on Monday, supported by yen weakness after downbeat Japanese GDP data. Bulls are eyeing the 185.00 resistance area.
Japanese Yen Intervention Risk Near 160 Highlighted by DBS
DBS Group Research's Philip Wee says markets remain focused on Japan's struggle to support the yen, with intervention risk highlighted near 160.
Gold holds near $4,400 as fading Fed rate hike bets weigh on dollar
Gold is holding modest gains near $4,400 while the US dollar remains under pressure as expectations fade that the Federal Reserve will raise rates in September.
USD/CAD Slips as Canadian Dollar Gains Ahead of Inflation Test
USD/CAD traded around 1.3860 on Monday, down 0.11%, as reduced Fed tightening expectations weighed on the US dollar against the Canadian dollar.
Yen slips back above 159 versus dollar as Japan GDP slows
The yen gave back early gains on Wednesday, leaving USD/JPY above 159.00 after Japanese GDP data showed slower growth.
Gold Holds Bullish Bias Near $4,400 as Dollar Weakens
XAU/USD is maintaining a bullish bias around the $4,400 level, helped by a softer US dollar and fading expectations of further Federal Reserve rate hikes.
UK labour data seen backing Bank of England hold: TD Securities
TD Securities expects a soft but stable UK labour market in June, reinforcing expectations that the Bank of England will keep rates on hold.
Exclusive: Octa Cyprus CEO Georgios Pantzis to Step Down After Nine Years
Georgios Pantzis is stepping down as CEO of Octa's Cyprus entity after nearly nine years. The company is discussing new board appointments with CySEC while assuring clients of continuity.
Dollar Index Extends Losses as Bears Test Two-Month Lows Below 99.40
The US Dollar Index fell for a third straight session on Monday, with sellers challenging two-month lows under 99.40 during European trading.
Riksbank Seen Holding at 1.75% for Seventh Straight Meeting
Brown Brothers Harriman’s Elias Haddad expects Sweden’s Riksbank to keep its policy rate at 1.75% for a seventh consecutive meeting while leaving a later hike on the table.
Commerzbank Sees Market Doubts on Turkish Lira Stability
Commerzbank's Tatha Ghose says a CBRT survey shows market participants raising inflation forecasts and expecting only gradual rate cuts, casting doubt on disinflation and lira stability.
After Over 2 Years at OneRoyal, Dominic Poynter Departs as CCO
Dominic Poynter has stepped down as Chief Commercial Officer at retail FX and CFDs broker OneRoyal. He confirmed the exit on LinkedIn and has not yet announced his next move.
Silver Rises to $65.46 per Troy Ounce
Silver prices climbed on Monday, with XAG/USD trading at $65.46 per troy ounce, up 1.17% from $64.70, according to FXStreet data.
BoJ hike expectations support yen against dollar, MUFG says
MUFG strategists note that Japanese bond yields are climbing even after weak GDP data, with markets focused on further Bank of Japan rate hikes and supporting the yen versus the dollar.
US Dollar Losing Momentum as Fiscal Risks Rise, DBS Says
DBS Group Research’s Philip Wee sees fading momentum in the US dollar as markets reassess US-Japan intervention, shifting BoJ and Fed expectations, and rising US fiscal risks.
UK data-heavy week could trigger BoE repricing, ING says
ING's Chris Turner flags upcoming UK jobs, wages and July CPI data as potential catalysts for repricing Bank of England rate expectations.
EUR/USD Clears 1.1600 as Bulls Hold Above 100-SMA and 50% Fibo
EUR/USD extended last week's rebound from near the 1.1500 psychological level and broke above 1.1600, with bulls retaining control above the 100-SMA and the 50% Fibonacci retracement.
Risk-On Sentiment Builds as Dollar Weakness Supports Equities
The US dollar remains under pressure while the S&P 500, Nasdaq and DAX advance amid improving risk appetite.