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Euro Weakness Persists as Dollar Fails to Gain from Brent Rally
The euro remains under pressure as interest rate adjustments alone appear insufficient to support the currency, while the US dollar failed to capitalize on a rise in Brent crude prices and Fed concerns about entrenched inflation.
DXY Slips to 101 Late in US Session Despite Yield Support
The US Dollar Index (DXY) slipped from 101.28 to 101 late in the US session, even as US Treasury 2Y yields rose and crude oil remained supported by Middle East tensions, according to DBS Group Research economist Philip Wee.
Silver Price Rises 1.45% to $59.17 Per Troy Ounce
Silver (XAG/USD) climbed on Thursday, rising 1.45% to $59.17 per troy ounce from the previous $58.32, according to FXStreet data.
USD Edges Lower Despite Persian Gulf Tensions
The US dollar weakened slightly in recent trading, even as renewed geopolitical tensions in the Persian Gulf typically support safe-haven demand.
Euro Advances Against Canadian Dollar on Strong German Trade, Weak Oil
EUR/CAD rose during European trade on Thursday, reversing two days of losses, supported by stronger-than-expected German trade data and declining oil prices.
ECB Hawkish Repricing with Bond Selloff – Deutsche Bank
Deutsche Bank Research notes that market pricing for ECB rate hikes by December has surged, implying three hikes this year after June, as European assets face renewed energy shock sensitivity.
USD Index Set to Stay Firm as Energy Spike Supports Fed Hawks – ING
ING’s Chris Turner says higher oil prices and Gulf tensions have boosted Fed hawks, keeping the US dollar firm against low-yielders while EM carry trades face headwinds.
OCBC: US Dollar constructive as oil risks build
OCBC analysts note that rising Middle East tensions and higher oil prices are supporting the US Dollar and global bond yields.
Muted FX Reaction to Gulf Escalation as Oil Nears $80
FX markets showed a muted response to the re-escalation in the Gulf and the jump in oil prices, while rates saw more movement. Brent crude approaching $80 per barrel could delay disinflation and affect Fed policy.
DXY Extends Pullback, Tests 23.6% Fibonacci and Weekly Low Below 101.00
The US Dollar Index continues its decline from the 101.25-101.30 region, flirting with the 23.6% Fibonacci retracement and a weekly low below 101.00.
ING: EUR/USD Early Gains at Risk on Fed Dominance
ING analyst Chris Turner notes EUR/USD held up despite higher oil prices as euro swap rates outperformed US rates on ECB hike expectations, but expects the Fed narrative to dominate and push the pair lower.
EUR/GBP Languishes Below 0.8550, Bullish Attempts Subdued
The Euro trades moderately higher against the US Dollar near 1.1440 but remains in a weekly range with a broader bearish trend. Meanwhile, EUR/GBP struggles below the 0.8550 level as bullish momentum fades.
GBP/JPY Hits Fresh High Since January 2008 as Pound Rally Continues
The British pound extended its rally against the Japanese yen, pushing GBP/JPY to a fresh high not seen since January 2008, building on strong momentum from the previous session.
UOB: AUD/USD could break above 0.6980 as momentum builds
UOB analyst sees AUD/USD trading in a 0.6915–0.6950 intraday range, but notes rising upside risk of a break above 0.6980 with 0.6900 as support.
RBNZ Hikes OCR to 2.50%, NZD Holds Above 0.57
The Reserve Bank of New Zealand unanimously raised the Official Cash Rate by 25 bps to 2.50%, breaking from May's split vote. DBS notes NZD/USD remains firm above 0.57 as the central bank signals further tightening.
USD/CAD Holds Above 1.4150 as Bullish Bias Persists
USD/CAD trades near 1.4170 during European hours on Thursday, remaining within an ascending channel that signals continued bullish momentum.
Silver Price Jumps to Near $59 as US Dollar Declines
Silver price (XAG/USD) rose over 1% to near $59.00 during European trading on Thursday, as the US Dollar faced selling pressure.
NZD/USD Advances Above 0.5700 on RBNZ Hawkish Stance
The New Zealand Dollar strengthened against the US Dollar during early European trade on Thursday, pushing the NZD/USD pair to around 0.5735 after a hawkish rate hike from the Reserve Bank of New Zealand.
BNY Mellon: Flexible BoE Stance Supports Sterling Against USD
BNY Mellon's Geoff Yu notes that reduced expectations for Bank of England tightening are not undermining the British Pound, providing support against the US Dollar.
EUR/GBP Hovers Near One-Year Low Below 0.8550
EUR/GBP is trading flat near 0.8530, pressured by rising US-Iran tensions and a rebound in oil prices, keeping it below one-year lows.
GBP/USD Holds Bullish Tone Above 1.3400 as UK Political Risk Eases
The GBP/USD pair trades around 1.3405 in early European trading on Thursday, maintaining a bullish bias as UK political uncertainty fades.
Indian Rupee Rebounds, but Oil Concerns Limit Upside
The Indian Rupee opened higher against the US Dollar on Thursday, with USD/INR falling to near 95.44 as the greenback ticked lower. However, renewed Middle East hostilities boosting oil prices are seen as a headwind, keeping the outlook for the rupee bearish.
BoJ Maintains Assessment for All 9 Japanese Regions
The Bank of Japan kept its overall assessment unchanged for all nine regions in its latest quarterly report, with most regional economies described as 'recovering moderately'.
US Dollar Index Stays Pressured Near 101.00 Amid Fed Bets and Iran Risks
The US Dollar Index (DXY) trades with a negative bias for a second consecutive day, hovering near 101.00 as market expectations of Federal Reserve policy and geopolitical tensions with Iran help limit further downside.