Momentum indicators are turning flat; US Dollar (USD) is expected to trade in a sideways range of 7.1750/7.1880. In the longer run, downward momentum is building; for a continued decline, USD must first close below 7.1700, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
US Dollar (USD) could rebound further; overbought conditions suggest any advance may be limited to a test of 148.20. In the longer run, USD has likely moved back into a range-trading phase between 146.50 and 148.80, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Further New Zealand Dollar (NZD) declines are not ruled out, but any weakness is likely part of a lower range of 0.5905/0.5950. In the longer run, NZD has likely entered a 0.5880/0.5980 consolidation phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The Euro (EUR) has rebounded firmly from yesterday’s dip to the low 1.16s and is threatening a return to a 1.17 handle as out session gets going, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
Sharp decline could test 0.6475 before stabilisation can be expected. In the longer run, Australian Dollar (AUD) is still trading in a range, probably between 0.6455 and 0.6555, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Pound Sterling (GBP) has likely entered a 1.3500/1.3585 consolidation phase. In the longer run, outlook for GBP remains positive, and it may rise to 1.3620; the chances of it reaching 1.3660 this time around are more limited, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The current Euro (EUR) price movements are likely part of a consolidation phase between 1.1585 and 1.1705, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Following the release of the CPI figures on Tuesday, the trade-weighted US dollar lost around half a percent. This weakness continued over the past two days, until yesterday's producer price inflation figures were released.
During a press conference yesterday to present its new inflation report, the Central Bank of Turkey announced several changes to its monetary policy framework, ING's FX analyst Frantisek Taborsky notes.
USD/JPY rebounded overnight, tracking the rise in UST yields after US PPI data came in hotter. Pair was last at 146.87, OCBC's FX analysts Frances Cheung and Christopher Wong note.
The much-anticipated Trump-Putin meeting in Alaska is scheduled for 20.30 BST/21.30 CET, so any headlines may just be able to impact late US trading, but it’s quite possible that the bulk of the market reaction will only materialise on Monday.
In New Zealand, complete inflation figures are only published once a quarter; each month, only a selection of prices is tracked and the inflation rate for these is published, Commerzbank's FX analyst Volkmar Baur notes.
US Dollar (USD) jumped overnight in response to hotter-than-expected PPI while Treasury Secretary Bessent made clarification on his earlier comments with regards to rate cuts. DXY was last at 97.88 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
USD/JPY is retreating after failing to hold above the 200-DMA, with downside risks pointing toward 144.40 and potentially 142.10 if weakness persists, Société Générale's FX analysts note.
The Trump-Putin meeting and any better clarity on the path ahead in the Ukraine conflict have longer-lasting implications for the Euro (EUR) than for the US Dollar (USD), ING's FX analyst Francesco Pesole notes.
EUR/JPY loses ground for the third consecutive day, trading around 171.80 during the European hours on Friday. The technical analysis of the daily chart suggests a prevailing bullish bias as the currency cross remains within the ascending channel pattern.
Silver (XAG/USD) attracts some dip-buying during the Asian session on Friday and stalls the previous day's retracement slide from the $38.70-$38.75 area, or a three-week high. The white metal climbs back above the $38.00 mark in the last hour, though it lacks bullish conviction.
The USD/CHF rises during the North American session as recent economic data from the States prompted investors to reduce bets that the Fed would cut rates by 50 bps, as stated by the US Treasury Secretary Scott Bessent on Wednesday. At the time of writing, the pair traded at 0.8077, up 0.26%.
EUR/USD dives sharply on Thursday as the latest inflation report in the United States (US) caught traders off guard, who were betting on a slim chance of a 50 basis points (bps) Federal Reserve (Fed) rate cut in September. Currently, the pair trades at 1.1638, down 0.57%.
Gold Price takes a hit and dives over 0.60% on Thursday following a red-hot factory gate inflation report in the United States (US), which prompted investors to price out the chances for a 50-basis-point rate cut at the Federal Reserve’s (Fed) upcoming meeting.
NZDUSD hits new low for the week after positive PPI release, downside targets present key support levels. Buyers need to break above 0.59524 to regain control.
West Texas Intermediate (WTI) Crude Oil edges higher on Thursday, supported by heightened geopolitical tensions ahead of the Friday US-Russia summit in Alaska.
Silver (XAG/USD) edges lower on Thursday, snapping a two-day losing streak as stronger-than-expected US Producer Price Index (PPI) and upbeat Jobless Claims data bolster the US Dollar. At the time of writing, the metal is trading near $38.00 during the American session, down nearly 1.30% on the day.
The GBP/USD pair retreats during the North American session, down 0.21% after a hot inflation report in the United States (US) prompted traders to pare rate cut bets by the Federal Reserve (Fed) at the September meeting.
For the USDJPY it fell sharply after breaking a confluence of technical levels. The EURUSD bounced off its own confluence of support, while the GBPUSD is little changed and awaits the next shove.
There is a chance for US Dollar (USD) to test 7.1700; a clear break below this level is unlikely. In the longer run, downward momentum is building; for a continued decline, USD must first close below 7.1700, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
US Dollar (USD) could drop below last week’s low of 146.60; any further decline is unlikely to reach 145.80. In the longer, USD view is negative, but it is uncertain for now whether it has enough momentum to reach 145.80, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Gold (XAU/USD) edges lower on Thursday, trading within the familiar range established earlier in the week as the US Dollar rebounds after upbeat Producer Price Index (PPI) and Weekly Jobless Claims data.
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