Euro: Support from ECB repricing and yields – Scotiabank

The post Australian Dollar firms as US Dollar softens appeared on BitcoinEthereumNews.com. AUD/USD trades higher near the 0.6940 area on Thursday, as the Australian Dollar (AUD) benefits from a softer US Dollar (USD), even after stronger-than-expected United States (US) jobless claims data showed that the labor market remains stable. US Initial Jobless Claims fell to 215K, below expectations of 218K and the previous 217K, suggesting that layoffs remain limited. However, the Greenback failed to gain strong traction as the broader US Dollar Index (DXY) slipped for a second straight session, while markets continued to assess geopolitical risks and the Federal Reserve’s (Fed) policy outlook. China also remains a key driver for the Aussie, given Australia’s strong trade exposure. China’s Producer Price Index (CPI) report, released late Wednesday, showed a 4.1% YoY rise in June, the fastest pace in four years, while China’s Consumer Price Index (CPI) slowed to 1% YoY, highlighting stronger f

The post South Korean Won: Rally versus sustained USD strength – TD Securities appeared on BitcoinEthereumNews.com. TD Securities’ Macro Research team, led by Howard Du with contributions from Jayati Bharadwaj and Linda Cheng, analyzes the recent Korean Won rally and its impact on USD/KRW. They argue that despite KRW strength, the broader US Dollar (USD) uptrend against South Korean Won (KRW) remains intact and is likely to persist until a new bearish USD cycle emerges, highlighting key technical levels and intervention risks. USD/KRW uptrend seen resilient “KRW is in focus for FX market as it has been the best-performing major currency in July. KRW outperformance is notable in light of rising crude oil price on resurgence of Middle East geopolitical risk and falling equity prices for semiconductor stocks.” “Recent KRW rally has caught the FX market’s attention, and we discuss our outlook for USD/KRW. We believe the USD/KRW uptrend should remain in place until a new bearish USD wave fo

The post Mexican Peso gains as risk appetite improves, weighs on USD appeared on BitcoinEthereumNews.com. The Mexican Peso (MXN) registers solid gains of over 0.22% against the US Dollar (USD) on Thursday as risk appetite improves after two days of hostilities between the US and Iran ended, despite US President Donald Trump’s warning that the deal might be “over.” The USD/MXN pair trades at 17.54 after reaching a daily high of 17.57. USD/MXN slips due to US Dollar weakness The emerging market currency is underpinned by broad US Dollar weakness. Data in Mexico showed that the Consumer Price Index (CPI) in June fell to its lowest level since December 2020, tumbling for the third straight month, down from 3.94% to 3.37% YoY, below estimates of 3.52%. Core inflation on an annual basis has risen to 4.03% YoY, slightly above Banxico’s 3% plus or minus 1% goal. The data eases pressure on the Bank of Mexico (Banxico), which last month decided to hold rates unchanged at 6.50%, while signaling t

The post Japanese Yen: Yen eyes BoJ and key resistance zone against US Dollar – Scotiabank appeared on BitcoinEthereumNews.com. Scotiabank strategists Shaun Osborne and Eric Theoret observe the Japanese Yen trading broadly in line with G10 peers, with near-term focus on the June PPI release and the July 31 Bank of Japan meeting. They note material resistance in USD/JPY above 162.50, close to last week’s multi-decade high, while markets still price only about 25 bps of BoJ tightening by year-end. Resistance near multi-decade highs “The yen is also trading in tandem with most of its G10 peers and offering little differentiation in terms of its performance.” “Overnight data were limited and near-term risk lies with the 7:50pm ET release of PPI.” “Short-term price action in USD/JPY suggests material resistance above 162.50, with all eyes on last week’s multi-decade high around 162.80.” “Media reports of an acceleration in the BoJ’s tightening path may offer the JPY support, however rate ex

The post Eurozone: Energy shock keeps pressure on ECB – Nordea appeared on BitcoinEthereumNews.com. Jan von Gerich highlights that Eurozone inflation risks remain skewed to the upside due to a persistent energy shock linked to Middle East tensions. Even under milder energy scenarios, he stresses that supply chain disruptions, higher production costs and firm-level price adjustments are already embedded, leaving the ECB unconvinced that inflation will quickly return to target. Persistent energy shock sustains risks “All members viewed the risks surrounding the inflation outlook as being to the upside relative to the staff baseline projections, with the evolution of the conflict in the Middle East being the key source of risk.” “With the energy shock proving more persistent than had been envisaged at the time of the March and April meetings, and indirect effects starting to become increasingly visible and broad-based, the inflation outlook had deteriorated further.” “Looking ahead, it wa

The post Pound Sterling Price News & Forecast: GBP/USD trades slightly higher as the US Dollar fails to gain strong traction appeared on BitcoinEthereumNews.com. British Pound: Recovery tests key resistance against US Dollar – Scotiabank Scotiabank strategists Shaun Osborne and Eric Theoret report the British Pound (GBP) is fractionally higher versus the US Dollar (USD), with sentiment improving after PM Starmer’s resignation announcement. They see support from a repriced Bank of England (BoE) rate path following the latest Oil rally and describe GBP/USD’s recovery as increasingly entrenched as it attempts to break above 1.3400 and trades within a 1.3350–1.3450 range. “The pound is up fractionally vs. the USD and is a mid-performer among the G10 currencies as we head into Thursday’s NA session with focus still largely centered on broader developments in the absence of high-level domestic releases.” Read more… British Pound elevates despite firm US claims GBP/USD trades higher near the

The post Gold rebounds above $4,100 as falling Oil weighs on US Dollar appeared on BitcoinEthereumNews.com. Gold (XAU/USD) price advances during the North American session on Thursday, up over 1.30% as the US Dollar (USD) retreats due to falling Oil prices amid easing tensions in the Middle East. The XAU/USD pair trades at $4,132 after bouncing off weekly lows of around $4,021 hit on Wednesday. XAU/USD rises as Middle East tensions ease, pressuring Dollar The US-Iran conflict grabbed the headlines during the last two days as both parties exchanged attacks, threatening to derail negotiations that had been scheduled to begin in Pakistan on Saturday before the last escalation. Oil prices jumped, with West Texas Intermediate (WTI), the US Oil benchmark, reclaiming the $ 75.00-per-barrel barrier, but retreated on Thursday. The jump in energy prices grew speculation that the Federal Reserve (Fed) could raise borrowing costs to tame already high inflation near 4.2% as reported in May. Now eye

The post British Pound: Recovery tests key resistance against US Dollar – Scotiabank appeared on BitcoinEthereumNews.com. Scotiabank strategists Shaun Osborne and Eric Theoret report the British Pound (GBP) is fractionally higher versus the US Dollar (USD), with sentiment improving after PM Starmer’s resignation announcement. They see support from a repriced Bank of England (BoE) rate path following the latest Oil rally and describe GBP/USD’s recovery as increasingly entrenched as it attempts to break above 1.3400 and trades within a 1.3350–1.3450 range. Pound sentiment improves on policy repricing “The pound is up fractionally vs. the USD and is a mid-performer among the G10 currencies as we head into Thursday’s NA session with focus still largely centered on broader developments in the absence of high-level domestic releases.” “The recent recovery in sentiment remains important, signaling market confidence in the aftermath of PM Starmer’s June 22 resignation announcement.” “Fundament