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British Pound recovers early losses against US Dollar, US PPI data eyed
The British Pound (GBP) claws back its early losses against the US Dollar (USD) and flattens at around 1.3495 during the European trading session on Thursday.
Norwegian Krone: Norges Bank softens hawkish stance – TD Securities
TD Securities’ Norges Bank analysis notes the policy rate was left unchanged at 4.25% in August, with a less hawkish tone than in June.
USD/JPY Price Forecast: Capped below the 50% retracement of July’s plunge, at 159.50Â
The US Dollar (USD) remains practically flat against the Japanese Yen (JPY) on Thursday, as fading hopes of a Federal Reserve (Fed) interest rate hike in September have undermined speculative demand for the Greenback.
Gold struggles below two-month high despite softer US PPI
Gold (XAU/USD) trades under pressure on Thursday after hitting a fresh two-month high of $4,449 during Asian trading hours. The metal fails to capitalise on softer-than-expected US Producer Price Index (PPI) data, even as the US Dollar and Treasury yields edge lower.
Economists agree: ECB to hike interest rates by 25 bps to 2.5% in September - Reuters
According to a Reuters poll, the European Central Bank (ECB) will hike its deposit rates by 25 basis points (bps) to 2.50% in September, said 57 of 69 economists.
Australian Dollar caught between hawkish RBA, Iran-related inflation risks
AUD/USD trades around 0.7055 on Thursday at the time of writing, little changed on the day.
Japanese Yen: Bearish bias against US Dollar within higher range – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note USD/JPY closed little changed at 159.41 after briefly dipping to 158.58 and rebounding to 159.54. Intraday, the pair is expected to trade between 158.70 and 159.70.
Ireland Consumer Price Index (YoY) unchanged at 3.4% in July
Ireland Consumer Price Index (YoY) unchanged at 3.4% in July
Ireland HICP (MoM) above expectations (0%) in July: Actual (0.1%)
Ireland HICP (MoM) above expectations (0%) in July: Actual (0.1%)
Ireland Consumer Price Index (MoM) fell from previous 0.3% to 0.1% in July
Ireland Consumer Price Index (MoM) fell from previous 0.3% to 0.1% in July
Ireland HICP (YoY) meets forecasts (3.1%) in July
Ireland HICP (YoY) meets forecasts (3.1%) in July
US Dollar: CPI-driven moves point to near-term stability – MUFG
Lee Hardman at MUFG reports that the US Dollar’s initial post-CPI weakness quickly reversed, with the dollar index returning to around 100.00 as markets trimmed but did not abandon expectations for a September Fed hike.
Brazilian Real: Election risks threaten carry story – Societe Generale
Societe Generale strategists note USD/BRL has formed a higher low and is testing its 200-day moving average near 5.22, with upside projections toward 5.34–5.38.