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Indian Rupee: Dovish MPC hold supports prolonged pause – Standard Chartered
Standard Chartered Bank economists Saurav Anand and Anubhuti Sahay note that India’s Monetary Policy Committee (MPC) kept the repo rate at 5.25% with a neutral stance, sounding more dovish than in April and June.
Portugal Unemployment Rate down to 5.3% in 2Q from previous 6.1%
Portugal Unemployment Rate down to 5.3% in 2Q from previous 6.1%
Japanese Yen: Gains seen while below 160.00 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann describe USD/JPY price action as muted, with the pair confined to 157.15–157.95 and momentum turning flat. They expect intraday range trading between 157.00 and 158.30.
Gold Price Forecast: XAU/USD hits fresh weekly highs beyond the top of a triangle pattern
Gold (XAU/USD) has accelerated its recovery on Wednesday, favoured by a softer US Dollar as lower Oil prices and downbeat US macroeconomic data cooled market expectations of Federal Reserve (Fed) rate hikes on Tuesday.
Hungarian Forint: MPC minutes key for support against Euro – Commerzbank
Commerzbank’s Tatha Ghose explains that the Hungarian Forint (HUF) has recently given back gains as external shocks and an ongoing Magyar Nemzeti Bank (MNB) easing cycle erode support.
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data. Silver trades at $61.52 per troy ounce, up 2.87% from the $59.81 it cost on Tuesday.
New Zealand Dollar comes under pressure after sharp deterioration in labor market
NZD/USD declines to around 0.5860 on Wednesday at the time of writing, down 0.54% on the day, following the release of weaker-than-expected New Zealand employment data. The New Zealand Dollar (USD) comes under selling pressure as investors reassess the outlook for monetary policy.
Danish Krone: Weakness seen as structural against Euro – Nordea
Nordea’s Chief Analyst Jan Størup Nielsen notes that Nationalbanken did not intervene in July to support Denmark’s fixed exchange rate policy, after a small purchase of kroner in June.
GBP/USD Price Forecast: Trades around 1.3450; bulls retain control above 100-hour SMA
The GBP/USD pair gains follow-through positive traction for the second straight day and sticks to modest intraday gains through the first half of the European session on Wednesday.
Euro gains against Canadian Dollar following improved PMI data
EUR/CAD continues its winning streak that started on July 24, trading around 1.6240 during the European hours on Wednesday. The currency cross rises as the Euro (EUR) receives support following the release of HCOB Purchasing Managers’ Index (PMI) data from Germany and the Eurozone.
Eurozone Producer Price Index (YoY) meets forecasts (4.6%) in June
Eurozone Producer Price Index (YoY) meets forecasts (4.6%) in June
Eurozone Producer Price Index (MoM) meets forecasts (-0.3%) in June
Eurozone Producer Price Index (MoM) meets forecasts (-0.3%) in June
Breaking: ISM Services PMI came in at 54.1 in July
Fresh data from the Institute for Supply Management (ISM) showed the Services PMI improving a tad to 54.1 in July from 54 in the previous month, coming in short of expectations at 54.5 and signaling some marginal pickup of momentum in the sector.