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Mexican Peso Strengthens as US Inflation Data Eases Rate Hike Fears
The Mexican Peso gained 0.29% against the US Dollar after US inflation reports reduced expectations of further Fed rate hikes.
BNY: China's H1 Data Shows Production-Led Growth, Weak Domestic Demand
Geoff Yu of BNY notes China's H1 data shows resilient industrial and high-tech production, but weak domestic demand with retail sales and property investment under pressure.
OCBC: Thai Baht Gains Limited as Oil Stays Elevated
OCBC analysts note USD/THB fell after the US CPI release but quickly retraced, signaling limited follow-through for the Thai Baht amid elevated oil prices.
USD/SGD Consolidates in Tight Range After US CPI Reversal
UOB analysts note USD/SGD reversed its New York-session drop following softer US CPI data, now consolidating within a narrow band.
China Q2 GDP Growth Slows to 4.3%, Misses Target – Commerzbank
China's Q2 GDP growth came in at 4.3% year-on-year, below Beijing's 4.5%-5% target and consensus expectations, according to Commerzbank. Fixed-asset investment contracted sharply, while June industrial output and retail sales surprised on the downside.
US Dollar Extends Decline as Softer PPI Data Fuels Rate Cut Bets
The US Dollar Index fell 0.5% toward 100.40 after June wholesale inflation came in softer than expected, with the headline PPI declining 0.3% month-over-month and the annual rate slowing to 5.5%.
USD/CHF Breaks Rising Wedge, Bears Target 0.8000
USD/CHF fell over 0.62% after breaking a rising wedge, sliding through the July 14 swing low of 0.8067 to trade near three-day lows. Bearish momentum suggests a potential move toward the 0.8000 level.
Asian FX Buoyed by Soft US CPI, High Oil Caps Gains – OCBC
OCBC strategists expect Asian currencies to trade with a firmer tone after softer US core CPI reduced near-term Fed hike expectations, though elevated oil prices may limit upside.
Gold Price Slips as Iran Escalation Overshadows Soft US PPI
Gold turned negative on Wednesday despite softer US producer price data, as escalating tensions in the Middle East pushed energy prices higher.
Euro rises as soft US PPI pressures Dollar
EUR/USD climbed near 1.1450 on Wednesday as a weaker-than-expected US Producer Price Index weighed on the US Dollar.
BoC Holds Rate at 2.25%, Cites Brent Oil Assumption in MPR
The Bank of Canada kept its policy rate unchanged at 2.25% on Wednesday, with its Monetary Policy Report projecting disinflation contingent on Brent crude falling to $75 and staying there.
Silver Drops as Hawkish Fed Dampens Rally Despite Soft Inflation
Silver (XAG/USD) fell on Wednesday, trading near $57.55, down 1.90%, as a persistently hawkish Federal Reserve outlook outweighed softer US inflation data.
Japanese Yen Holds Modest Gains Near Multi-Decade Lows
The Japanese Yen edged higher against the US Dollar on Wednesday after softer US inflation data weighed on the Greenback, though USD/JPY remains near multi-decade highs.
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FXStreet publishes a guide on selecting a CFD broker, covering transparent fees, market access (stocks, forex, crypto), and essential trading features like leverage and tools.
Pound Sterling Rallies on Soft US PPI Data
The Pound Sterling rose about 0.60% against the US Dollar after the latest US Producer Price Index showed prices edging lower, driven by a dip in energy prices since late May.
Fed Chair Warsh Says Inflation Not Permanent
Federal Reserve Chair Kevin Warsh stated that current inflationary pressures are transitory, though he acknowledged the latest inflation readings remain elevated.
Fed Chair Warsh: One-Time Price Changes Not Necessarily Inflationary
Federal Reserve Chair Kevin Warsh testified that one-time price shifts do not automatically signal inflation, and described recent inflation data as an imperfect gauge of underlying price pressures.
Japan PM Takaichi Warns of Urgent Need to Build Strong Economy, Says BNY
BNY's Geoff Yu highlights Japanese Prime Minister Sanae Takaichi's warning that Japan must urgently build a strong economy, rejecting claims that an economic blueprint drove JGB moves.
USD/CAD Little Changed After Bank of Canada Decision
The Canadian dollar showed a muted response to the Bank of Canada’s latest rate decision, with USD/CAD trading near 1.4061.
ING: Rising Energy Costs Cap EUR/USD Upside
ING analyst Chris Turner warns that higher oil and European natural gas prices limit the euro's gains, with EUR/USD likely struggling above 1.1460/70 and possibly falling to 1.1360/80 if energy costs keep rising.
Fed's Williams: June CPI Consistent with Inflation Progress
New York Fed President John Williams said the latest US CPI data aligns with the progress on inflation he hopes to see.
AUD/USD Rises Near 0.7000 as US PPI Misses Expectations
The Australian Dollar gains against the US Dollar after softer-than-expected US producer inflation data pushes the greenback lower, lifting AUD/USD toward the 0.7000 level.
BBH: US Dollar Downside Limited After CPI
Brown Brothers Harriman's Elias Haddad says the US dollar has steadied after its post-CPI slide, with US economic outperformance, a higher-for-longer Fed stance, and strong foreign demand for US securities limiting further downside.
ECB to Keep Rates Unchanged at 2.25%, Door Open for September Hike
The ECB is expected to hold its deposit rate at 2.25% on July 23, in line with consensus. President Lagarde is likely to maintain full optionality, hinting at a possible September rate hike.