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NZD/USD Price Forecast: Cooling NZ inflation expectations push Kiwi under pressure
The New Zealand Dollar (NZD) underperforms its major currency peers, trading 0.45% down at around 0.5830 against the US Dollar (USD) during the European trading session on Thursday.
US Dollar: Markets remain hawkish after CPI – ING
ING strategists Francesco Pesole, Frantisek Taborsky and Chris Turner note that the Dollar strengthened after an in-line US CPI, as markets had positioned for a hotter print.
Indian Rupee: RBI seen delaying rate hikes – MUFG
Michael Wan at MUFG reports that India’s July Consumer Price Index (CPI) rose to 4.45% year-on-year, slightly below consensus but above June’s 4.38%, driven mainly by higher food prices.
Australian Dollar: Upside risk intact above 0.7025 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann report AUD/USD briefly broke above 0.7075 to 0.7091 before retreating to close almost unchanged at 0.7063.
Dow Jones futures rise as cooling inflation reduces Fed rate hike bets
Dow Jones futures gain 0.08% to trade around 53,910 during European hours on Thursday. Meanwhile, S&P 500 futures rise by 0.09% to trade around 7,780 and Nasdaq 100 futures advance 0.06%, trading near 29,870.
Swiss Franc: Soft profile sustained on SNB stance – OCBC
OCBC’s Sim Moh Siong and Christopher Wong highlight that the Swiss Franc (CHF) has weakened toward their year-end EUR/CHF target of 0.94, making it a preferred funding currency for carry trades.
Norway Norges Bank Interest Rate Decision meets forecasts (4.25%)
Norway Norges Bank Interest Rate Decision meets forecasts (4.25%)
Norwegian Krone: Dovish risks but bullish view against Euro – ING
Francesco Pesole at ING sees some downside risks for the Norwegian Krone from Norges Bank’s meeting, as benign CPI‑ATE prints could tilt communication slightly less hawkish. He still expects rates to stay at 4.25% today and another hike later this year, but is less convinced about multiple moves.
Japanese Yen holds ground due to potential intervention from Japanese authorities
USD/JPY inches lower after registering minor losses in the previous day, trading around 159.40 during the European hours on Thursday. The currency pair hovers near the crucial 160.00 level, keeping traders on high alert for possible intervention from Japanese authorities.
Russian Ruble: Trade boost from Oil seen fading – Commerzbank
Commerzbank’s Tatha Ghose reports Russia’s June merchandise trade surplus rose to USD 12.5bn, up over 50% year-on-year, as higher Oil prices and improved Urals pricing supported exports.
US Dollar Index Price Forecast: DXY bulls await trading range breakout above 100.00
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, is seen building on the previous day's sold bounce from the post-CPI swing low and prolonging its weekly uptrend for the fourth straight day.
WTI Price Forecast: Prolonged energy supply concerns remain key tailwind
West Texas Intermediate (WTI), futures on NYMEX, trades 0.5% higher at around $82.10 during the European trading session on Thursday. The oil price reflects strength as fears of a prolonged energy supply disruption continue to act as a key tailwind for oil prices.
US Dollar: Fed-driven hedge rebuilding revives selling pressure – BNY
BNY’s Geoff Yu argues that the July Fed meeting marked a peak in Dollar dehedging rather than an end to U.S. exceptionalism. Cross-border investors are rebuilding USD hedges, reducing effective unhedged U.S. exposure while maintaining broadly solid underlying demand for U.S. assets.