Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
WTI Oil climbs as US-Iran standoff keeps Middle East supply risks elevated
West Texas Intermediate (WTI) Oil holds firm on Wednesday, hovering near its highest level in more than three weeks as traders balance Middle East supply risks against rising US crude inventories. At the time of writing, the US benchmark trades around $85.20 per barrel, up nearly 1% on the day.
New Zealand Dollar jumps as falling US yields weigh on the USD
NZD/USD rises sharply on Wednesday and trades around 0.5930 at the time of writing, up 0.96% on the day. The New Zealand Dollar (NZD) benefits primarily from broad weakness in the US Dollar (USD), as the sharp decline in US Treasury yields reduces the appeal of the Greenback.
Gold rallies as buyback sinks yields despite Fed hawkish minutes
Gold (XAU/USD) rallies during Wednesday’s session after the US Federal Reserve (Fed) released the minutes of its July meeting, in which the US central bank held rates unchanged but not unanimously, with three members dissenting and calling for a rate hike.
Dow Jones Industrial Average rallies on a bid nobody made
The Dow Jones Industrial Average (DJIA) trades near 53,600 on Wednesday, more than 230 points and 0.44% higher, and none of that gain is about earnings, growth or the Federal Reserve (Fed).
EUR/GBP pushes toward two-week high amid cooling UK services inflation
EUR/GBP trades on the front foot on Wednesday, pushing up to the vicinity of a two-week high near the 0.8570 region as the Euro holds firm against a softer British Pound (GBP). The pair has cleared its recent range after a run of green candles on the 4-hour chart.
Russia Producer Price Index (YoY) fell from previous 10.5% to 6.6% in July
Russia Producer Price Index (YoY) fell from previous 10.5% to 6.6% in July
Russia Producer Price Index (MoM): -2.5% (July) vs previous -0.1%
Russia Producer Price Index (MoM): -2.5% (July) vs previous -0.1%
Indonesian Rupiah: BI holds rates to back IDR – BNY
Geoff Yu writes that Bank Indonesia (BI) kept its benchmark rate at 5.75% for a second month in Acting Governor Destry Damayanti’s first decision.
British Pound jumps as Treasury buyback weakens the US Dollar
The Pound Sterling (GBP) climbs against the US Dollar (USD) on Wednesday as the US Treasury stepped up in the markets to offer liquidity support via a buyback of longer-dated bonds, a day after the US 30-year yield hit its highest level since 2007.
US 10-year Treasury yield tumbles as Treasury steps in to calm bond market
The US 10-year Treasury yield declines sharply on Wednesday, trading at 4.651% at the time of writing after reaching an intraday high of 4.712%.
Japanese Yen advances as falling Treasury yields pressure US Dollar
The Japanese Yen (JPY) extends its intraday gains on Wednesday as the US Dollar (USD) comes under fresh selling pressure following a sharp decline in longer-term US Treasury yields. At the time of writing, USD/JPY trades around 158.47, its lowest level in more than a week.
United Kingdom: Energy-driven upside risks – Societe Generale
Societe Generale’s Sam Cartwright notes United Kingdom (UK) headline inflation rose to 2.9% year-on-year in July, driven mainly by higher household energy bills.
Colombia Trade Balance: $-2.161M (June) vs $-1222.7M
Colombia Trade Balance: $-2.161M (June) vs $-1222.7M