Indonesian Rupiah weakens ahead of Retail Sales data

The post USD/CHF Price Forecast: Dollar bulls lose steam after rejection at 0.8100 appeared on BitcoinEthereumNews.com. The US Dollar is trading lower against the Swiss Franc (CHF) on Thursday, as investors ponder the consequences of reciprocal US and Iran attacks and a 10% rebound in Oil prices, on the major central banks’ monetary policies. The USD/CHF pair has retreated to levels near 0.8050 after being rejected at 0.8100 on Wednesday. The Swiss Franc is drawing some support from a mild US Dollar weakness, as the Dollar Index (DXY) dips below 101.00 to test weekly lows. Investors sold the Greenback across the board on Wednesday, following the release of the Federal Reserve’s minutes, unimpressed with the central bank’s commitment to bring inflationary pressures back to target. Geopolitical tensions are also failing to support the safe-haven US Dollar on Thursday. A second round of reciprocal attacks between the US and Iran cast further doubt on a negotiated end of the war, and have

The post Silver Price Forecast: XAG/USD jumps to near $59 as US Dollar declines appeared on BitcoinEthereumNews.com. Silver price (XAG/USD) is up over 1% to near $59.00 during the European trading session on Thursday. The white metal gains as the US Dollar (USD) faces selling pressure despite multiple tailwinds. At press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.25% lower to near 100.80. US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the New Zealand Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -0.24% -0.28% -0.18% -0.10% -0.18% -0.58% -0.33% EUR 0.24% -0.04% 0.04% 0.13% 0.09% -0.31% -0.09% GBP 0.28% 0.04% 0.07% 0.17% 0.12% -0.27% -0.04% JPY 0.18% -0.04% -0.07% 0.07% 0.05% -0.38% -0.13% CAD 0.10% -0.13% -0.17% -0.07% -0.04% -0.44% -0.21% AUD 0.18% -0.09% -0.12% -0.05% 0.04% -0.39% -0.17% NZD 0.58% 0.31% 0.27% 0.38%

The post New Zealand Dollar advances above 0.5700 on RBNZ hawkish stance appeared on BitcoinEthereumNews.com. The NZD/USD pair gains momentum to around 0.5735 during the early European session on Thursday. The New Zealand Dollar (NZD) strengthens against the US Dollar (USD) on a hawkish interest rate hike from the Reserve Bank of New Zealand (RBNZ). The US weekly Initial Jobless Claims report will be published later on Thursday. As widely expected, the RBNZ raised its Official Cash Rate (OCR) by 25 basis points (bps) to 2.50% from 2.25% at its July meeting on Wednesday. The central bank signalled that additional tightening may be needed, as policymakers sought to ensure inflation returns to target despite easing energy prices and an economy that is only gradually regaining momentum. However, softer Chinese inflation data might cap the upside for the China-proxy Kiwi. Data released by the National Bureau of Statistics of China on Thursday showed that the Consumer Price Index (CPI) climb

The post British Pound: Flexible BoE stance supports against US Dollar – BNY appeared on BitcoinEthereumNews.com. BNY Mellon’s Geoff Yu notes that reduced Bank of England (BoE) tightening expectations are not undermining the British Pound (GBP). He argues that BoE flexibility around its mandate and reluctance to overreact to supply shocks is not hurting GBP, with consistent domestic Gilt demand and positive real rates offset by international concerns about United Kingdom (UK) growth and politics. Rate repricing leaves Pound resilient “In the U.K. and GBP’s case, whether rates are the dominant driver is questionable, given the volume of political noise still weighing on the economy. Bank of England (BOE) Governor Andrew Bailey has credited market rate moves with “doing the tightening for the BOE” and appears clearly skeptical of using further hikes to address a supply shock.” “Compared with the ECB, we believe the BOE’s flexibility around its price stability mandate is a deliberate choi

The post Euro: Support zone key for next leg against US Dollar – UOB appeared on BitcoinEthereumNews.com. United Overseas Bank’s (UOB) Quek Ser Leang highlights that EUR/USD momentum has flattened, with the Euro expected to trade between 1.1395 and 1.1440 intraday. Over 1–3 weeks, the pair is seen in a broader 1.1360–1.1450 range-trading phase. On a 1–3 month view, a break of the 1.1390/1.1410 support zone would target 1.1210. Euro-Dollar locked in range phase “24-HOUR VIEW: EUR fell to a low of 1.1407 on Tuesday. Yesterday, we highlighted the following: “Despite the relatively sharp decline, downward momentum has not increased much. However, there is scope for EUR to dip below 1.1390. The major support at 1.1360 is unlikely to come into view. Resistance is at 1.1420; a breach of 1.1430 would indicate that the immediate downward pressure has eased.” EUR subsequently declined and printed a low of 1.1390 before recovering to close largely unchanged at 1.1414 (+0.03%). Momentum indicators

The post AUD/USD Price Forecast: 0.6860 is key support level amid geopolitical risks appeared on BitcoinEthereumNews.com. The Australian Dollar (AUD) trades marginally higher at around 0.6935 against the US Dollar (USD) during the European trading session on Thursday. The Aussie pair edges up as the US Dollar ticks lower despite escalating Middle East risks and hawkish Federal Open Market Committee (FOMC) Minutes of the June policy meeting. At press time, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades 0.13% lower to near 100.92. The attacks on Iranian infrastructure by United States (US) military forces signal that the restart of the war would last long, a scenario that might keep oil prices higher and the appeal of safe-haven assets upbeat. According to Axios, the US Air Force bombed two railway bridges in Iran on Wednesday. Meanwhile, the FOMC Minutes showed on Wednesday that policymakers are concerned about upside inflation risks a

The post Indian Rupee rebounds, road ahead remains rough appeared on BitcoinEthereumNews.com. The Indian Rupee (INR) opens higher against the US Dollar (USD) on Thursday. The USD/INR pair drops to near 95.44 as the US Dollar ticks lower; however, the outlook of the pair remains bullish as renewed Middle East hostilities have boosted oil prices. The higher oil prices narrative is unfavorable for the Indian Rupee, as currencies from economies, such as India, which rely heavily on oil imports to meet their energy needs, tend to underperform in a high-oil price environment. In the opening trade, the MCX Crude Oil contract expiring on July 20 holds onto Wednesday’s gains near Rs.7,115. The MCX Crude Oil contract has gained over 10% from its multi-month low of Rs. 6,505 posted last week. US-Iran MoU collapses On Wednesday, United States (US) President Donald Trump announced that the memorandum of understanding (MoU) signed with Iran, aimed at ending the Middle East war, is over, after the ex

The post Euro strengthens ahead of Germany’s Trade Balance data appeared on BitcoinEthereumNews.com. EUR/USD extends its gains for the second successive day, trading around 1.1430 during the Asian hours on Thursday. The Euro (EUR) receives support against the US Dollar (USD) ahead of Germany’s Trade Balance data release later in the day. Traders will likely shift their focus to Friday’s Harmonized Index of Consumer Prices (HICP) data. The US Dollar (USD) underperforms as the Federal Reserve’s (Fed) June Meeting Minutes underscored a widening rift among policymakers during Kevin Warsh’s debut meeting as FOMC Chairman on June 16–17. While a portion of the committee anticipated that the benchmark rate, currently holding at a target range of 3.50% to 3.75%, would likely end the year unchanged or lower, a hawkish contingent strongly argued that persistent price pressures would require a rate hike by year-end. However, this internal friction has reinforced market expectations that the US cen