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BoE’s Breeden: Bank Stays Alert to Inflation Risks
Bank of England Deputy Governor Sarah Breeden said UK inflation would have already hit the 2% target if not for the Middle East conflict, adding that the central bank remains vigilant.
Commerzbank: Canadian Dollar Downtrend Unlikely to Reverse
Commerzbank’s Michael Pfister says recent Canadian labour data and the Bank of Canada’s latest decision indicate domestic policy will not reverse the CAD downtrend, with direction hinging on the US dollar.
Kevin Warsh's First Fed Meeting Surprises Markets, USD Could Rally
Falling U.S. prices are seen as positive, but the dollar may strengthen further after Fed Chair Kevin Warsh's unexpected initial moves.
EUR/USD Tests Range Top at 1.1485 as Momentum Strengthens
The Euro edged higher against the Dollar on Thursday as softer US inflation data fueled a repricing of Fed rate hike expectations, pushing the pair toward the key resistance level of 1.1485.
GBP/USD Resumes Rally Toward Key Resistance at 1.3560 – UOB
United Overseas Bank analysts note GBP/USD has surged to a two-month high, with deeply overbought conditions but scope for further gains. Intraday upside seen limited to a test of 1.3560 while holding above support.
GBP/JPY Consolidates Near Multi-Year High, Bullish Momentum Remains
The GBP/JPY cross enters a bullish consolidation phase after a strong rally, oscillating near the mid-219.00s during early European trading, with the multi-year top still within reach.
NZD/USD Extends Gains to 0.5850 on Weaker USD
The New Zealand Dollar continues its recovery against the US Dollar, trading near 0.5850 for a third consecutive day as the Greenback softens amid reduced expectations of a Federal Reserve rate hike.
India's $13.3bn Semiconductor Mission May Have Limited Near-Term Impact: Commerzbank
Commerzbank economists note India's new Semiconductor Mission 2.0 worth $13.3bn aims to build a full-stack ecosystem but judge near-term growth impact as limited, with implications for INR funding dynamics.
Silver Price Tumbles as Inflation Expectations De-Anchor
Silver (XAG/USD) fell 1.33% to near $58.00 during European trading on Thursday, pressured by elevated energy prices following renewed US-Iran tensions that have de-anchored inflation expectations.
UOB: EUR/USD bullish above key support, targeting 1.1490
United Overseas Bank analysts note that EUR/USD has broken above prior resistance and rapid gains reached 1.1482, with intraday potential to test 1.1490 while staying below significant resistance.
GBP Flat After UK GDP Rises 0.1% in Line with Forecasts
The British Pound holds steady against major peers following the release of UK monthly GDP data, which rose 0.1% as expected.
Indian Rupee Declines to 96.32 Against USD as Oil Prices Weigh
The Indian Rupee opened lower against the US Dollar on Thursday, extending its losing streak for a third consecutive day as elevated crude oil prices stoked concerns over higher import costs.
EUR/USD Seen Dipping Back Towards 1.1400 as Dollar Bounces
The US Dollar Index recovered after a softer PPI reading, potentially rising towards 101 or higher, while EUR/USD may dip back to 1.1400. EURINR could fall further if it breaks below 111.
Euro Consolidates Near Four-Week High Above 1.1450 Amid Mixed Fed Signals
The EUR/USD pair holds steady above the 1.1450 level during Asian trading on Thursday, consolidating strong gains to its highest point since June.
AUD/JPY Dips Under 113.50, Bullish Bias Remains
AUD/JPY traded lower near 113.45 in early European hours amid verbal intervention by Japanese authorities supporting the yen, though the near-term bullish structure remains intact.
Indonesian Rupiah Weakens on Higher Oil Import Costs
The Indonesian Rupiah weakened against the US dollar on Thursday, with USD/IDR rising to around 18,100, as surging oil import costs stretch the trade balance.
Gold Bears Stay in Control Below 21-Day SMA
XAU/USD sellers maintain control as gold edges toward the $4,000 threshold, replicating Wednesday's Asian session losses.
Gold Declines as Iran Tensions Fuel Inflation Risks, Revive Fed Hike Bets
Gold (XAU/USD) fell during Asian trading on Thursday, approaching the previous day's low near $4,025, as rising Iran tensions stoked inflation concerns and strengthened expectations of further Federal Reserve rate hikes, boosting the US dollar.
BOJ Official Warns Delay in Stimulus Adjustment Amid High Inflation Risk
A senior Bank of Japan official stated that postponing stimulus adjustment while inflation remains high could trigger an economic downturn.
USD/CHF Edges Lower to 0.8060 Amid Middle East Tensions
The Swiss franc holds recent losses as the US dollar recovers on rising Middle East tensions, with USD/CHF trading around 0.8060 after opening with a bullish gap.
South Korean Won Rises After BoK Hikes Rates by 25 bps
The South Korean Won strengthened against the US Dollar after the Bank of Korea raised its benchmark interest rate by 25 basis points, the first hike in three-and-a-half years.
EUR/JPY Pulls Back to Triangle Top Near 186.00, Bullish Bias Remains
EUR/JPY edged lower during Asian trading on Thursday, pulling back to the top of an ascending triangle pattern around 186.00 after three days of gains. The pair maintains a constructive bullish bias as it trades above both the 9- and 50-period EMAs.
Silver Downtrend Persists Below $63 After Record High
Silver (XAG/USD) remains under downside pressure following its all-time high, with Elliott Wave analysis indicating a bearish bias below key resistance at $63.
US Dollar Index Hovers Near 100.50 as Fed Hike Bets Fade
The US Dollar Index consolidates near 100.50, close to a multi-week low, as expectations of further Fed rate hikes diminish.