Market News
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Japanese Yen: Domestic investment shift could support the Yen – BNY
BNY’s Geoff Yu notes Japan’s Government Pension Investment Fund (GPIF) has hired active domestic bond managers for the first time in five years to improve expertise and diversification amid volatile JGB markets. The fund’s domestic bond portfolio has suffered losses despite strong overall returns.
Copper: Speculative longs rise on tight supply – ING
ING’s Warren Patterson and Ewa Manthey highlight that speculative net long positions in LME Copper increased notably in the latest COTR data, supported by tight supply and low inventories.
British Pound consolidates against Japanese Yen ahead of central bank decisions
GBP/JPY extends its subdued price action on Wednesday, forming a series of small-bodied candlesticks after briefly climbing above 219 earlier this month, its highest level since December 2007. At the time of writing, the cross trades around 217.50.
Australian Dollar: Softer CPI keeps RBA on hold – TD Securities
TD Securities strategists note that Australia’s Q2 Consumer Price Index (CPI) and June headline inflation came in below expectations, easing pressure on the Reserve Bank of Australia (RBA).
British Pound languishes below 1.3300 heading into Fed and BoE decisions
The British Pound (GBP) has given away previous gains against the US Dollar (USD) on Wednesday and remains practically flat in the daily chart, trading below 1.3300 and on track to complete a nearly 1.20% decline over the last two weeks.
Japanese Yen: Fed risk clouds recovery against US Dollar – Rabobank
Rabobank's Senior FX Strategist Jane Foley discusses how the Federal Reserve (Fed) and Bank of Japan (BoJ) decisions could shape USD/JPY, noting that Fed Chair Warsh’s stance on forward guidance adds uncertainty.
Swiss Franc: Moderate pass-through weigh on CHF against Euro – Commerzbank
Commerzbank’s Michael Pfister analyses how the Swiss National Bank’s recent shift toward tolerating a weaker Swiss Franc affects inflation and EUR/CHF.
Australian Dollar: Pressured against US Dollar by softer CPI – Societe Generale
Societe Generale analyst highlight that AUD/USD is offered below 0.6950 after softer June Consumer Price Index (CPI), with markets scaling back expectations for an RBA hike.
United States MBA Mortgage Applications down to -6.4% in July 24 from previous 1.9%
United States MBA Mortgage Applications down to -6.4% in July 24 from previous 1.9%
EUR/USD Price Forecast: Struggling below 1.1400 with YTD lows at a short distance
The Euro (EUR) holds marginal gains against the US Dollar on Wednesday after finding some support in the mid-range of the 1.1300s earlier this week but remains unable to find acceptance above 1.1400.
Yemen's Houthis mulls imposing fees on vessels transiting Southern Red Sea route
According to a Reuters report, Yemen's Houthis are considering imposing fees on commercial ships sailing through the Southern Red Sea. The report also shows that Houthis might exempt China's shipping fleet from any fee system.
EUR/GBP Price Forecast: Eases from 0.8575 resistance with the bullish bias intact
The Euro (EUR) is nursing moderate losses against the British Pound (GBP) on Wednesday, as bulls failed to find acceptance above the 0.8575 resistance area on Tuesday.
Federal Reserve: Extended pause guidance – UOB
UOB Global Economics & Markets Research notes that the Federal Reserve is widely expected to keep the Federal Funds Target Rate at 3.50%-3.75% at the July FOMC meeting.