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New Zealand Dollar: RBNZ hawkish tone supports gains – OCBC
OCBC’s Sim Moh Siong and Christopher Wong highlight that the New Zealand Dollar (NZD) continues to outperform G10 peers, underpinned by hawkish Reserve Bank of New Zealand (RBNZ) rhetoric and improving domestic activity data.
China New Loans below expectations (2000B) in June: Actual (1610B)
China New Loans below expectations (2000B) in June: Actual (1610B)
NZD/USD Price Forecast: Bulls await breakout above 0.5840-0.5845 confluence on weaker USD
The NZD/USD pair holds steady above the 0.5800 mark through the early European session on Wednesday and, for now, seems to have stalled the previous day's late pullback from a nearly one-month high, around the 0.5845 zone.
Brent: Stable prices follow short squeeze – Rabobank
Rabobank strategist Michael Every notes Brent Oil holding steady around $85-86 per barrel after an aggressive short squeeze. Every links this stability to ongoing Middle East tensions, United States (US) sanctions enforcement in Hormuz, and strategic efforts to develop alternative pipelines.
US Dollar Index Price Forecast: Remains below 101.00 near ascending channel bottom
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its losses for the second successive day, trading around 100.80 during the early European hours on Wednesday.
China M2 Money Supply (YoY) registered at 8%, below expectations (8.5%) in June
China M2 Money Supply (YoY) registered at 8%, below expectations (8.5%) in June
Australian Dollar strengthens to near 0.7000 as soft US CPI tempers Fed tightening bets
The AUD/USD pair gathers strength to around 0.6990 during the early European trading hours on Wednesday. The US Dollar (USD) softens against the Australian Dollar (AUD) as markets reduced their bets of a US rate hike after US inflation slowed more than expected in June.
Spain Harmonized Index of Consumer Prices (YoY) in line with forecasts (3.6%) in June
Spain Harmonized Index of Consumer Prices (YoY) in line with forecasts (3.6%) in June
Spain Harmonized Index of Consumer Prices (MoM) meets forecasts (0.6%) in June
Spain Harmonized Index of Consumer Prices (MoM) meets forecasts (0.6%) in June
Spain Consumer Price Index (YoY) meets expectations (3.2%) in June
Spain Consumer Price Index (YoY) meets expectations (3.2%) in June
Spain Consumer Price Index (MoM) in line with forecasts (0.6%) in June
Spain Consumer Price Index (MoM) in line with forecasts (0.6%) in June
Euro snaps three-day losing streak against Canadian Dollar, BoC policy eyed
The Euro (EUR) bounces back against the Canadian Dollar (CAD) after a three-day losing streak, trading 0.13% higher to near 1.6078 during the European trading session on Wednesday.
British Pound: Advance stalled with neutral range view against US Dollar – UOB
United Overseas Bank’s Quek Ser Leang and Lee Sue Ann highlight that GBP/USD’s late-month advance has stalled, with the pair rebounding to 1.3442 before closing at 1.3387. Intraday, the British Pound (GBP) is expected to trade between 1.3360 and 1.3430.