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Silver Rises to Near $59.65 as US Dollar Weakens Ahead of NFP Data
Silver (XAG/USD) gained 0.9% in European trading on Thursday, approaching $59.65, supported by a weaker US Dollar ahead of the upcoming Nonfarm Payrolls report.
ECB Dovishness Likely as Price Pressures Ease, PMI Rises
Easing price pressures following the US-Iran deal and lower energy costs are paving the way for a dovish ECB, as the composite PMI unexpectedly rose to 49.5 in June.
Euro Slides vs Yen on Suspected Japan Intervention
The euro dropped nearly 0.5% against the Japanese yen on Thursday, trading near 184.00 during the European session, amid suspected intervention by Japanese authorities.
AUD/USD Neutral in Broader Downtrend – UOB
UOB notes AUD/USD has entered tight consolidation after a rebound to 0.6930, with intraday range expected between 0.6880 and 0.6920.
British Pound Spikes Lower Against Yen, Intervention Speculation
The British Pound fell sharply against the Yen in early European trade Thursday, with no clear catalyst, triggering speculation of possible intervention by Japanese authorities.
June US Employment Report in Focus After Hawkish Fed Comments Boost Dollar
The dollar edged higher yesterday, supported by hawkish remarks from Fed Chairman Warsh, as markets now turn to the upcoming June US employment report.
Sterling shorts unwind as EUR/GBP breaks support – ING
EUR/GBP has broken below 0.8600/8610 support, triggering liquidation of stale sterling shorts, according to ING’s Chris Turner.
Japanese Yen Recovers Sharply as Intervention Bets Trigger Short-Covering
USD/JPY plunges to the 161.00 area during Thursday's European session, ending a three-day rally that had pushed the pair to its highest level since 1986, as speculation of official intervention prompts short-covering.
DXY Price Forecast: Weakens Below 101.50, Keeps Bullish Tone Ahead of NFP
The US Dollar Index (DXY) slipped below 101.50 in early European trading, currently near 101.20, yet the broader outlook remains bullish as markets await the NFP report.
MUFG Sees Japanese Rates Heading Higher on Tankan, Capex, Inflation
MUFG strategist Michael Wan says Japanese rates must rise after a positive Tankan survey, strong capital investment appetite, and rising inflation, raising the risk of intervention.
USD/CAD Holds Tight Range Near 1.4200 Ahead of US NFP
USD/CAD traded flat around 1.4210 on Thursday, remaining in a narrow range for over a week as traders await the US Nonfarm Payrolls report.
Gold Holds Near $4,062 as Holiday-Shifted NFP Tests $4,120 Breakout
Gold is consolidating near $4,062 with a cautiously constructive tone, testing overhead supply at the $4,120 breakout level after a sharp reversal on Wednesday. The upcoming holiday-shifted Non-Farm Payrolls report may influence the next move.
Commerzbank Doubts Further RBA Hike This Year
Commerzbank analyst Volkmar Baur questions the market's 50% probability of another Reserve Bank of Australia rate hike in 2024, arguing the case is unconvincing.
Switzerland CPI Meets Expectations at 0.5% in June, Down from 0.6%
Switzerland's annual CPI rose 0.5% in June, matching forecasts and easing from May's 0.6% increase. The data may influence the Swiss franc's near-term trajectory.
EUR/GBP Falls as Softer Eurozone Inflation Dampens ECB Rate Hike Hopes
The EUR/GBP cross dropped to around 0.8565 during early European trading on Thursday, pressured by fading expectations that the European Central Bank will raise interest rates this year following softer Eurozone inflation data.
June NFP Preview: Possible World Cup Impact on Jobs Data
The June payrolls report will be released early due to the Independence Day holiday. Analysts are considering whether the World Cup could affect the jobs numbers.
US Jobs Data Takes Center Stage in Thursday Asia Market Update
Thursday's Asia market update highlights US jobs data as the key focus, alongside shifts in monetary and FX intervention policies, ongoing chip-maker volatility, and Meta's cost-cutting efforts.
Indian Rupee Rises as Oil Prices Fall on US-Iran Talks Progress
The Indian Rupee opened higher against the US Dollar on Thursday, supported by a decline in oil prices amid progress in US-Iran talks, bringing USD/INR near 95.00.
Yen Gains on Stealth Intervention Risks, USD/JPY Slides
The Japanese yen strengthens against the dollar as traders increasingly expect stealth intervention by authorities, pushing USD/JPY lower from recent highs.
AUD/USD Bears Eye 0.6850 Break as NFP Looms
The AUD/USD pair traded sideways during the Asian session on Thursday as traders remained cautious ahead of the US Nonfarm Payrolls report, with bears watching for a decisive break below the 0.6850 confluence support.
Swiss Franc Strengthens to Near 0.8100 as Traders Await Swiss CPI, US NFP
USD/CHF declined to around 0.8085 in early European trading on Thursday as the US Dollar weakened after weaker-than-expected ADP June employment data.
Japan Shifts to Ambush Tactics Against Yen Short Sellers
Japan is abandoning its practice of telegraphing FX intervention risk and adopting a more targeted, surprise-based approach to squeeze yen short sellers, according to a Reuters report.
Indonesian Rupiah Pares Losses as Soft US Data, Fed Tone Weighs on Dollar
USD/IDR edged lower after opening with a bullish gap, remaining in positive territory for the fourth consecutive day, trading around 18,030 during Asian hours.
Euro Range-Bound at 1.1325-1.1450 as Dollar Index Stays Strong
The Euro is expected to trade within 1.1325-1.1450, while the Dollar Index remains strong above 100.75, supporting USDJPY towards 163/164 and pressuring other majors.