Silver price advanced on Thursday, 0.55% as the Greenback posted solid gains during the North American session, even though Wall Street finished the session with gains.
EUR/USD tumbles during the North American session, down 0.38% following the release of economic data from the United States (US), which triggered a reaction by investors, who trimmed their bets that the Federal Reserve (Fed) will cut interest rates.
The British Pound (GBP) gains positive traction against the Japanese Yen (JPY) on Thursday as sentiment surrounding the Yen remains fragile following Japan's disappointing Trade Balance data.
The Australian Dollar (AUD) is weakening against the US Dollar (USD) on Thursday after employment data from Australia reflected a slowdown in the labour market. Meanwhile, US Retail Sales data surprised to the upside, reflecting an increase in consumer spending in June.
GBP/USD drops during the North American session on Thursday. The pair edged down 0.07% following the release of strong US economic data, which boosted the US Dollar (USD) and pushed it to a new July high as it recovers some ground at the beginning of the second half of the month.
The US Dollar (USD) is gaining renewed momentum against the Japanese Yen (JPY), with central bank divergence continuing to serve as a key driver for the USD/JPY pair.
Silver (XAG/USD) is edging lower on Thursday, trading around $37.57 after logging a modest gain of nearly 0.56% on Wednesday. The metal remains elevated after marking a 14-year high of $39.13 earlier this week, but momentum has cooled as the price consolidates just below that peak.
Gold (XAU/USD) is trading lower on Thursday, weighed by a stronger US Dollar, with risk appetite subdued amid ongoing uncertainty about global trade and rumours about the resignation of the Fed Chair Jerome Powell.The precious metal retreats from Monday’s highs at $3,375, but price action remains co
US Dollar (USD) is likely to trade in a range between 7.1700 and 7.1920 against Chinese Yuan (CNH). In the longer run, USD is expected to trade in a range between 7.1550 and 7.1920, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The Australian labour market appears to be cooling somewhat, which could give the Reserve Bank of Australia room to cut key interest rates again in August, Commerzbank's FX analyst Volkmar Baur notes.
Sharp fluctuations have resulted in a mixed outlook; US Dollar (USD) could continue to fluctuate against Japanese Yen (JPY), likely between 147.50 and 148.80.
Things got really exciting again yesterday afternoon. First, a major US media outlet reported that Donald Trump had told Republican lawmakers that he was going to fire Federal Reserve Chairman Jerome Powell.
EUR/GBP has broken out of its recent consolidation range, confirming renewed bullish momentum. With technical indicators supportive, the pair now targets higher levels, provided key support at 0.8585 holds, Société Générale's FX analysts note.
Recent poll by Nikkei, Kyodo, Asahi shows LDP-Komeito coalition is at risk of losing Upper House election. USD/JPY last seen at 148.67, OCBC's FX analysts Frances Cheung and Christopher Wong note.
What are the market implications of a potential early departure of Fed Chair Powell? It's an unlikely scenario, but for an hour Wednesday afternoon it appeared very real.
US Dollar (USD) had its choppy momentum overnight following reports that President Trump had considered dismissing Fed Chair Powell – though these claims were later denied by the man himself. DXY was last at 98.68 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
There is a chance for Australian Dollar (AUD) to test 0.6480 against US Dollar (USD). In the longer run, there has been a tentative buildup in momentum; AUD is likely to edge lower to 0.6480, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Last month, a surprise 109k fall in May UK payrolls opened the discussion on whether the Bank of England had to accelerate easing, ING's FX analyst Francesco Pesole notes.
The current price movements are likely part of a 1.3360/1.3460 consolidation phase. In the longer run, GBP view is still negative; the next technical target at 1.3320 may not come into view so soon, as it could consolidate first, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Australian Dollar (AUD) slipped amid downside surprise to labour market data – from multiple aspects. AUD was last at 0.6472, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Euro (EUR) is likely to trade between 1.1580 and 1.1680 against US Dollar (USD). In the longer run, EUR weakness appears to have stabilised; for the time being it is likely to consolidate in a range of 1.1550/1.1720, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Euro (EUR) continued to stay under pressure and fell amid broad US Dollar (USD) strength. Pair was last at 1.1600, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Silver price advances as Thursday’s North American session begins, up by 0.07% after printing gains of over 0.50% on Wednesday, courtesy of weaker-than-expected data that pushed precious metals higher. At the time of writing, XAG/USD is trading at $37.90, which is below the $38.00 figure.
The EUR/USD holds to earlier gains of 0.25% on Wednesday after US President Donald Trump threatened to remove the Federal Reserve (Fed) Chair Jerome Powell. This, along with a softer-than-expected inflation report on the producer side, capped the Euro’s advance versus the US Dollar.
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