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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.
Rabobank Warns of Honeymoon Risks for British Pound
Rabobank's senior FX strategist notes the British Pound is the second-best performing G10 currency over three months but warns of potential reversal risks ahead.
Bank of Canada Holds Rate at 2.25% as Expected
The Bank of Canada left its policy rate unchanged at 2.25% on Wednesday, matching market expectations. Focus now turns to Governor Tiff Macklem's press conference at 14:30.
EUR/USD Recovers as Soft US PPI Weighs on Dollar
The euro rebounded on Wednesday after the US Dollar weakened following softer-than-expected US PPI data. EUR/USD traded around 1.1430, recovering from an earlier intraday low.
Euro Weakens Against British Pound as BoE Rate Hike Bets Rise
EUR/GBP fell as reduced political uncertainty in the UK and expectations of higher Bank of England interest rates boosted the British Pound.
US Annual PPI Drops to 5.5% in June, Below Expectations
The US Producer Price Index rose 5.5% year-over-year in June, lower than the expected 6.2% and down from 6% in May.
CPI Beats Forecast, Dollar Weakens as Fed Chair Warsh Notes Inflation Miss
US CPI came in better than expected but remains above the Fed's target for the fifth consecutive year. The dollar weakened as currencies resumed upside breakouts, ignoring Fed Chair Warsh's commitment to addressing inflation.
Soft US inflation reduces Fed rate hike bets, pressures Dollar – Commerzbank
Commerzbank strategist Volkmar Baur says softer-than-expected June CPI data has led markets to downgrade Fed rate hike expectations, weakening the US Dollar.
US Dollar Edges Higher; China GDP Disappoints
The US dollar is mostly firmer today though trading within recent ranges. China's GDP data fell short of expectations.
British Pound Dips Below 1.3400 as US Dollar Strengthens
The British Pound gave up earlier gains on Wednesday, falling below 1.3400 and turning negative on the day as the US Dollar picked up strength.
NZD/USD Holds Gains Near 0.5820 on Risk-On Mood
The New Zealand Dollar maintains its Tuesday gains around 0.5820 during European trading on Wednesday, supported by a risk-on market environment and easing fears of further Fed rate hikes.
Dollar Dips on Soft CPI Despite US-Iran Tensions
The US Dollar Index fell 0.5% on Tuesday after the CPI report showed a sharper-than-expected slowdown to 3.5%, even as simmering US-Iran tensions were cited as a supporting factor for the greenback.
Canadian Dollar Holds Near One-Month High Ahead of BoC Decision
The Canadian Dollar is trading near its strongest level in a month as USD/CAD slips below the key 1.4100 mark ahead of the upcoming Bank of Canada decision.
Gold Hovers Above $4,000 as Risk-Off Mood Weighs
Gold (XAU/USD) edged lower on Wednesday, trading within Tuesday’s range as risk aversion weighed on the precious metal. Price remains above the $4,000 level.
US CPI Miss Weighs on Dollar, Fed Rate Hike Bets Fade
June US CPI came in below expectations, putting pressure on the dollar. Markets still price a September rate hike but overall hawkish sentiment is easing.
MUFG: BoC Caution Caps CAD Losses, Weaker US CPI and Oil Support
MUFG notes that the Canadian Dollar is supported by softer US inflation and higher crude prices, though the Bank of Canada's cautious stance limits further gains against the greenback.
TD Securities Sees Modest UK GDP Growth, Bailey Cautious
TD Securities forecasts UK GDP will rise 0.1% month-on-month in May, driven by services and retail sales, while manufacturing and industry face headwinds. BoE Governor Bailey remains cautious.
Bank of Canada Expected to Hold Rate at 2.25% for Sixth Time
The Bank of Canada is widely expected to keep its policy rate unchanged at 2.25% on Wednesday, marking the sixth consecutive meeting with no change.
ING: US Inflation Relief Supports Koruna and Forint
ING strategist František Táborský notes that lower US inflation and reduced Fed rate hike expectations are providing relief for Central European currencies, particularly the Czech koruna and Hungarian forint. He maintains a bullish outlook, expecting further gains.
USD/CAD Pulls Back After Failing at 1.4130, Loonie Gains
Societe Generale analysts note USD/CAD is retreating after failing to break above 1.4130, with interim resistance now near 1.4250. The move supports the Canadian dollar from a technical perspective.
USD/CHF retakes 0.8100 as bullish setup eyes YTD high
The USD/CHF pair attracted dip-buyers on Wednesday, climbing back above 0.8100 and moving away from the weekly low near 0.8060 as the bullish setup targets the year-to-date high set on Tuesday.