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Forex Today: Crucial US inflation data to lift market volatility
Here is what you need to know on Wednesday, August 12:
US Dollar: CPI and Fed rhetoric in focus – Commerzbank
Commerzbank analysts highlight cautious positioning in the Dollar ahead of July US CPI, with the Dollar Index steady near 99.83 and EUR/USD around 1.1540.
Euro trims losses against the British Pound following hot German inflation data
The Euro (EUR) has picked up from session lows against the British Pound (GBP) on Wednesday as hot German inflation figures have partially offset a mild risk-off sentiment, amid flaring tensions in the Middle East.
Euro: Upside capped by key resistance against US Dollar – UOB
UOB’s Quek Ser Leang and Lee Sue Ann report EUR/USD holding near 1.1540 after a quiet session, with momentum indicators mostly flat. Intraday, they expect consolidation between 1.1530 and 1.1560, but a break above 1.1560 could trigger a quick move to 1.1580.
Germany Consumer Price Index (MoM) meets forecasts (0.8%) in July
Germany Consumer Price Index (MoM) meets forecasts (0.8%) in July
Germany Consumer Price Index (YoY) in line with expectations (2.8%) in July
Germany Consumer Price Index (YoY) in line with expectations (2.8%) in July
Germany Harmonized Index of Consumer Prices (YoY) meets expectations (2.8%) in July
Germany Harmonized Index of Consumer Prices (YoY) meets expectations (2.8%) in July
Germany Harmonized Index of Consumer Prices (MoM) meets expectations (0.9%) in July
Germany Harmonized Index of Consumer Prices (MoM) meets expectations (0.9%) in July
Euro trades with caution against US Dollar in countdown to US CPI data
The Euro (EUR) trades marginally lower at around 1.1534 against the US Dollar (USD) at the start of the European trading session on Wednesday.
Indian Rupee rebounds on likely RBI's intervention, India's retail CPI rises in July
The Indian Rupee (INR) recovers early losses against the US Dollar (USD) on Wednesday due to likely Reserve Bank of India's (RBI) intervention in the market. At press time, USD/INR trades slightly lower to near 95.33.
EUR/JPY Price Forecast: Steadies near 184.00 amid neutral bias
EUR/JPY moves little for the second successive day, trading around 183.90 during the Asian hours on Wednesday. The currency cross is maintaining a mildly bearish near-term tone as it slips beneath the 50-day Exponential Moving Average (EMA) while holding above the shorter nine-day EMA.
WTI Price Forecast: Bulls retain control near 38.2% Fibo.; move beyond $83.00 awaited
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts buyers for the third straight day and trades just below the $83.00 mark during the Asian session on Wednesday, close to a nearly two-week high set the previous day.
India Gold price today: Gold rises, according to FXStreet data
Gold prices rose in India on Wednesday, according to data compiled by FXStreet.