The US Dollar (USD) is under strong selling pressure on Wednesday, yet action around XAU/USD is muted. The Greenback found near-term demand at the beginning of the day, but changed direction following the release of the…
ING’s Chief Economist for Greater China, Lynn Song, notes that China’s second-quarter GDP growth slowed to 4.3% year-on-year from 5.0% in the first quarter, the weakest pace since late 2022. Despite growth averaging 4.7…
United Overseas Bank’s Quek Ser Leang and Lee Sue Ann note USD/SGD reversed its New York-session plunge after softer United States (US) Consumer Price Index (CPI), closing near 1.2910. UOB's Singapore Dollar (SGD) Nomin…
Shares of Australian financial services group Perpetual surged to a six-month high on Thursday after the company rejected a A$2.45 billion (US$1.69 billion) takeover proposal from Swedish private equity giant EQT AB, no…
OCBC’s Sim Moh Siong and Christopher Wong note that USD/THB fell after the post-US Consumer Price Index (CPI) decline in US Dollar (USD) but quickly retraced, signalling limited follow-through in Thai Baht gains. Elevat…
EUR/USD trades higher near the 1.1450 area on Wednesday as the US Dollar (USD) weakens following softer-than-expected United States (US) Producer Price Index (PPI) data. The Euro (EUR) also finds some support after Spai…
The US Dollar Index (DXY) falls 0.5% toward 100.40 as softer-than-expected United States (US) wholesale inflation reinforces signs that price pressure is easing. The headline Produce Price Index (PPI) declined 0.3% MoM …
The Japanese Yen (JPY) holds modest gains against the US Dollar (USD) on Wednesday but struggles to extend its recovery despite a broadly weaker Greenback following softer-than-expected US inflation data. At the time of…
Chris Turner at ING says EUR/USD rallied on softer US CPI but warns that rising Oil and European natural gas prices limit upside. He expects EUR/USD to struggle above 1.1460/70 and potentially retreat toward 1.1360/80 i…
West Texas Intermediate (WTI) crude Oil consolidates modest losses on Wednesday but stays close to a one-month high as escalating Middle East tensions keep supply risks around the Strait of Hormuz in focus. At the time …
Federal Reserve (Fed) Chair Kevin Warsh said on Wednesday that recent inflation figures provide an imperfect measure of underlying inflation. Warsh made the remarks while testifying on the Semiannual Monetary Policy Rep…
Shares of Elon Musk's SpaceX are scraping by at record low levels this week, struggling to find any renewed enthusiasm from wary investors.
BNY’s Geoff Yu highlights Japanese Prime Minister Sanae Takaichi’s warning that Japan must build a strong economy now, rejecting claims that an economic blueprint drove the JGB selloff. He notes machinery orders weaknes…
Federal Reserve (Fed) Chair Kevin Warsh said on Wednesday that current inflation pressure will not be permanent, while acknowledging that the latest inflation measures remain unsatisfactory. Warsh made the remarks while…
Standard Chartered economists Hunter Chan and Shuang Ding note that China’s Q2 Gross Domestic Product (GDP) growth slowed to 4.3% year-on-year, below the 4.5–5.0% target range, with domestic demand remaining soft. They …
The Dow Jones Industrial Average (DJIA) spent most of Wednesday rewarding the disinflation trade and the final two hours dismantling it. A surprise negative June wholesale inflation print at 12:30 GMT set off a grind th…
Dell dropped 14%, HPE fell 8%, and SMCI declined 5% on no confirmed catalyst, but Dell and HPE retain massive YTD gains of 219% and 92%, respectively.
USD/CAD trades flat on Wednesday as traders show a limited reaction to the latest Bank of Canada (BoC) monetary policy announcement. At the time of writing, the pair trades around 1.4051, hovering near a one-month low.
CEO Jensen Huangsaid the company’s prediction of a $200 billion central processing unit market includes China, showing that Nvidia still anticipates strong long-term demand in one of the world’s most important AI market…
The Pound Sterling rises by some 0.60% against the US Dollar after the latest Producer Price Index (PPI) in the US showed prices edging lower, driven by the dip in energy prices since late May. At the time of writing, t…
The British Pound (GBP) has retraced previous gains against the US Dollar (USD) on Wednesday, returning to the 1.3390 area from session highs of 1.3420 and turning negative on the daily chart. The safe-haven US Dollar h…
Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), declined to 5.5% on a yearly basis in June from 6% in May, the US Bureau of Labor Statistics (BLS) reported on Wednes…
Commerzbank’s Volkmar Baur notes that softer US inflation has reduced expectations for Federal Reserve rate hikes and pressured the US Dollar. June headline and core inflation fell more than consensus, leading markets t…
Gold (XAU/USD) trades on the back foot on Wednesday as the US Dollar (USD) and US Treasury yields rebound after coming under pressure on Tuesday following softer-than-expected US Consumer Price Index (CPI) data.