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British Pound Gains Near 1.3200 Ahead of US PCE Data
The British Pound rose against the US Dollar on Thursday, approaching 1.3200 as traders trimmed USD long positions awaiting the US PCE Price Index release.
BNY: Precious Metals Slump Tempers ZAR, PEN Carry Outlook
BNY's Geoff Yu argues that weaker precious metals are undermining terms of trade for South Africa and Peru, limiting upside for the rand and sol despite supportive carry.
EUR/JPY Steady as BoJ Hawkish Stance, Fragile German Sentiment Limit Upside
EUR/JPY trades around 183.90, up just 0.06% on the day, as the Bank of Japan's hawkish stance and fragile German economic sentiment cap further gains, reflecting market hesitation.
EUR/PLN Breaks Above 4.290 on NBP Dovishness, ING Says
ING analyst Frantisek Taborsky notes persistent Polish Zloty weakness as EUR/PLN rises above its prior range toward 4.290, citing the National Bank of Poland's dovish stance and global risk-off sentiment.
USD/CHF Aims to Extend Rally Towards One-Year High Near 0.8170
The USD/CHF pair corrects from its 10-month high of 0.8140, trading 0.16% lower near 0.8110 during European hours Thursday. The overall bias remains bullish as the US Dollar continues to outperform, targeting the one-year peak around 0.8170.
Commerzbank: USD/CAD Surge Exaggerated, Says Analyst
Commerzbank strategist Michael Pfister argues that the recent rally in USD/CAD above 1.42 is overdone, citing falling oil prices and rising Fed hike expectations as temporary pressures on the Canadian dollar.
GBP/JPY Bounces to 213.40 as Intervention Risks Rise
The British Pound trimmed losses against the Japanese Yen on Thursday, with GBP/JPY recovering to 213.40 after hitting lows near 212.50. Intervention risks are increasing.
ING: EUR/USD Could Return Higher on AI Sentiment Shift
EUR/USD is stabilizing above 1.1300 as calmer markets pause the dollar rally, with ING analyst Francesco Pesole pointing to AI-related sentiment as the primary driver.
Silver Holds Losses Near $57.50 as Bearish Bias Persists
XAG/USD trades lower for the third consecutive day around $57.40, maintaining a bearish bias as the price moves within a descending channel pattern.
AUD/USD Oversold but Vulnerable: UOB Sees Range Trading
UOB analysts note AUD/USD's sharp fall to 0.6883 and recovery to 0.6901, with deeply oversold conditions likely to keep the pair trading between 0.6880 and a nearby resistance in the near term.
Canadian Dollar Hits 14-Month Lows on Fed Hikes, Lower Oil
The Canadian Dollar has sunk to a 14-month low, pressured by a stronger US Dollar on Federal Reserve tightening expectations and falling oil prices.
Thai Baht Weakens as BoT Holds Rate, Signals Caution
The Bank of Thailand kept its policy rate at 1.0%, adopting a cautious stance focused on growth risks. USD/THB advanced for five consecutive sessions, rising 0.9%.
Societe Generale: Indian Rupee Gains Limited vs US Dollar
Societe Generale reports that the Indian Rupee's appreciation against the US Dollar is restricted as domestic money markets continue to unwind tightening expectations.
US Dollar Index Holds Above 101.50 Ahead of US PCE Inflation Data
The US Dollar Index (DXY) traded around 101.60 on Friday, extending its winning streak for a fourth consecutive day as markets await the release of US PCE inflation data.
ING: Dollar Rally May Be Peaking as Core PCE Risks Cool
ING analyst Francesco Pesole suggests the US dollar rally may be near its peak, citing cooler core PCE inflation risks and a shift in Fed pricing.
GBP/USD Risks Sliding to 1.3110 – UOB
United Overseas Bank analysts caution that GBP/USD may weaken toward 1.3110 after briefly breaking below 1.3160, with near-term pressure targeting 1.3130.
AUD/JPY Softens to Near 111.50 on Intervention Fears
The AUD/JPY cross trades lower near 111.50 during early European hours as the Japanese Yen strengthens on intervention fears and bearish technical bias.
USD/JPY Holds Near 2024 Highs as US Data Supports Dollar Carry
USD/JPY is trading near its 2024 highs as resilient US data and elevated US yields underpin the dollar carry trade, according to MUFG's Lloyd Chan.
Commerzbank: Soft Australian Data Support No-Hike RBA View
Commerzbank analyst Volkmar Baur says recent Australian labor market and inflation data provided little momentum for the AUD and support the view that the RBA is unlikely to hike rates again.
Silver (XAG/USD) Hovers at Seven-Month Lows Around $57 Ahead of US Inflation Data
Silver (XAG/USD) trades near $57.00, its lowest in seven months, after a nearly 12% sell-off over the previous two days. Markets await US inflation data for direction.
EUR/USD Consolidates After Slide to 1.1324, UOB Says
UOB analysts note EUR/USD's downtrend extended to 1.1324 before a rebound, with the pair now expected to consolidate between 1.1330 and 1.1385 in the near term.
PCE Core Rise Fuels Rate Hike Bets; Brent Crude Slumps to $72
Rising core PCE inflation is expected to reinforce rate hike expectations. Meanwhile, Brent crude fell sharply yesterday, trading near $72/bbl this morning, close to pre-war levels, pressured by a stronger dollar and growth concerns.
NZD/USD Falls to Near 0.5650 as Bearish Bias Persists
NZD/USD extended its losing streak to seven days, trading around 0.5650 in Asian hours, as the pair remains under pressure within a descending channel.
BoJ's Tamura: Bank Should Raise Rates Near Neutral as Inflation Risks Overshooting
Bank of Japan board member Naoki Tamura stated that Japan has already met the 2% inflation target and the central bank must raise rates to near neutral to prevent inflation from exceeding expectations.