The Euro (EUR) edges lower against the British Pound (GBP) on Friday, unable to capitalize on disappointing UK retail sales data released earlier in the day.
In an interview with CNBC on Friday, Federal Reserve (Fed) Governor Christopher Waller said that the Fed is in a position to cut the policy rate as early as July, per Reuters.
Gold (XAU/USD) is edging lower on Friday, trading around $3,368 at the time of writing, as the yellow metal extends its pullback from the weekly high near $3,452 recorded on Monday.
The Indian Rupee (INR) snaps its three-day losing run against the US Dollar (USD) on Friday, recovering modestly after hitting a three-month low the previous day.
The technicals allow traders to work through the news stories by defining risk and defining bullish and bearish bias. In the video I take a look at the key technical levels of play and explain why.
The Platinum price continued to soar this week, reaching its highest level in almost 11 years yesterday at $1,350 per troy ounce, Commerzbank's commodity analyst Carsten Fritsch notes.
"This week, the World Gold Council published its annual survey among central banks on their assessment of Gold reserves and future Gold purchases, Commerzbank's commodity analyst Carsten Fritsch notes.
The Gold price remained virtually unaffected by the US Federal Reserve's monetary policy decision on Wednesday evening, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.
US crude oil inventories recorded a surprisingly sharp decline of 11.5 million barrels last week, Commerzbank's commodity analyst Carsten Fritsch notes.
The IEA presented its medium-term outlook this week. As in the previous year, it believes that oil demand will peak at the end of the decade, Commerzbank's commodity analyst Barbara Lambrecht notes.
After briefly exceeding $3,400 per troy ounce, the Gold price stabilised just below this level, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.
The Brent Oil price has risen to a 5-month high of $79 per barrel due to a further escalation of the military conflict between Israel and Iran, which has been ongoing for a week, Commerzbank's commodity analyst Carsten Fritsch notes.
Russia’s central bank (CBR) issued a 100bp surprise rate cut at its last meeting in May, but it reiterated its hawkish message, hence it did not appear that the CB would continue to cut rates– Commerzbank, Commerzbank's FX analyst Tatha Ghose notes.
The Japanese Yen (JPY) is entering Friday’s NA session flat vs. the US Dollar (USD), having faded the modest gains that had surrounded the overnight release of national CPI figures, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report, Scotiabank's Chief FX Strategists Shaun Osbor
Pound Sterling (GBP) is up a modest 0.2% vs. the US Dollar (USD) and outperforming nearly all of the G10 currencies in an environment of mild USD weakness, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
When the Swiss National Bank (SNB) announced its decision yesterday, some analysts seemed to have been anticipating a repeat of negative interest rates in Switzerland, Commerzbank's FX analyst Michael Pfister notes.
The AUD/USD pair ticks up to near 0.6490 during European trading hours on Friday. The Aussie pair oscillates inside the Thursday’s trading range, while investors await the decision from the United States (US) about whether it will directly involve in the week-long aerial war between Israel and Iran.
The Euro (EUR) is strong, up a decent 0.3% vs. the US Dollar (USD) as it outperforms all of the G10 currencies into Friday’s NA session, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
USD/CAD is little changed on the day and while the Canadian Dollar (CAD) is a relative underperformer on the session, USD traction above 1.37 is showing signs of weakening, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
The US Dollar was rejected on Thursday at 0.8715, but downside attempts have remained capped above 0.8450 on Friday, which leaves the pair on track to close the week with a 0.7% advance.The Swiss Franc lost ground during the week as the market anticipated that the Swiss National Bank would cut rates
Slight increase in downward momentum is likely to lead to a lower range of 7.1750/7.1930. In the longer run, US Dollar (USD) has likely moved into a 7.1620/7.2200 range trading phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
US Dollar (USD) is expected to trade in a range, most likely between 144.80 and 145.80. In the longer run, there has been a tentative buildup in momentum; for a sustained advance, USD must first break and hold above 145.50, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Headline SMEI eased further to a nine-month low of 50.1 in June as new orders shrank. Export-oriented SMEs’ performance sub-index fell below the 50 level, reflecting the tariff chill. Non-manufacturing SMEs’ performance stayed in contractionary territory for a third straight month.
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