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Euro remains stronger following July’s Eurozone HICP data
EUR/USD rises after registering minor losses in the previous day, trading around 1.1600 during the European hours on Wednesday. The pair holds ground as the Euro (EUR) remains stronger following the release of Eurozone Harmonized Index of Consumer Prices (HICP) data for July.
Copper: LME stock jump eases supply squeeze – ING
ING’s commodities team highlights that Copper prices on the LME have retreated sharply, falling below $14,000/t as a significant increase in on-warrant inventories eases the previous supply squeeze.
Eurozone Harmonized Index of Consumer Prices (MoM) came in at 0.2% below forecasts (2.8%) in July
Eurozone Harmonized Index of Consumer Prices (MoM) came in at 0.2% below forecasts (2.8%) in July
United Kingdom DCLG House Price Index (YoY) dipped from previous 2.7%Â to 2% in June
United Kingdom DCLG House Price Index (YoY) dipped from previous 2.7%Â to 2% in June
Swiss Franc picks up within range, USDollar softens awaiting Fed minutes
The Swiss Franc (CHF) appreciates moderately on Wednesday, as the US Dollar (USD) pulls back against major peers, with investors bracing for the release of the minutes of July’s Federal Reserve (Fed) monetary policy meeting, due later on the day.
Indian Rupee: Range-bound with RBI support against US Dollar – Commerzbank
Commerzbank FX analysts Charlie Lay and Moses Lim see USD/INR staying broadly stable as the Reserve Bank of India (RBI) keeps the policy repo rate at 5.25% and remains in wait-and-see mode.
Eurozone Current Account n.s.a rose from previous €-6.2B to €46.9B in June
Eurozone Current Account n.s.a rose from previous €-6.2B to €46.9B in June
Eurozone Current Account s.a registered at €35.1B above expectations (€22.1B) in June
Eurozone Current Account s.a registered at €35.1B above expectations (€22.1B) in June
South Africa Consumer Price Index (YoY) below forecasts (4.5%) in July: Actual (4.3%)
South Africa Consumer Price Index (YoY) below forecasts (4.5%) in July: Actual (4.3%)
South Africa Consumer Price Index (MoM) declined to 0.2% in July from previous 0.7%
South Africa Consumer Price Index (MoM) declined to 0.2% in July from previous 0.7%
Euro: Extends rebound as yields stabilize against US Dollar - Danske Bank
Danske Research Team notes that EUR/USD has extended its rebound towards 1.1600 as European yields remain elevated while US Treasury yields stabilize after the recent spike.
British Pound: BoE outlook steady with CPI and jobs data – MUFG
Derek Halpenny at MUFG notes that UK July CPI came in broadly as expected, with the headline rate rising to 2.9% mainly on higher utility bills, while services inflation eased.
Equities: Chip-led selloff under stagflation pressure – Deutsche Bank
Deutsche Bank strategists note that global equities endured another difficult session as rising yields and higher Oil reinforced a stagflationary backdrop. US indices, led by chip stocks and the NASDAQ, extended declines, while the STOXX Europe 600 posted its fifth consecutive drop.