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Australian Dollar hovers near two-month lows as traders await Fed Chair Powell's speech
The Australian Dollar (AUD) steadies near a two-month low at 0.6414 after registering losses in the previous four consecutive days.
NZD/USD tumbles to near 0.5800 as Powell's Jackson Hole speech looms
The NZD/USD pair extends the downside to near 0.5815, the lowest since April 11, during the early Asian trading hours on Friday. The New Zealand Dollar (NZD) softens against the Greenback as the Reserve Bank of New Zealand (RBNZ) delivered a rate cut and left the door open for further moves lower.
PBOC sets USD/CNY reference rate at 7.1321 vs. 7.1287 previous
On Wednesday, the People's Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1321 as compared to the previous day's fix of 7.1287 and 7.1871 Reuters estimate.
WTI extends the rally to near $63.50 amid signs of stronger energy demand
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $63.40 during the early Asian trading hours on Friday. The WTI rises to near a two-week high amid signs of strong US demand and uncertainty over efforts to end the war in Ukraine.
Japan's National CPI rises 3.1% YoY in July, Core CPI climbs more than expected
Japan's National Consumer Price Index (CPI) rose by 3.1% YoY in July, compared to the previous reading of 3.3%, according to the latest data released by the Japan Statistics Bureau on Friday.
USD/CAD softens to near 1.3900 ahead of Powell's Jackson Hole speech
The USD/CAD pair loses traction to near 1.3905, snapping the three-day winning streak during the early Asian session on Friday. A rebound in crude oil prices provides some support to the commodity-linked Loonie.
Fed's Collins signals openness to rate cut as soon as next month
Federal Reserve (Fed) Bank of Boston President Susan Collins signaled openness to a rate cut as soon as Septemebr, citing tariff pressures and potential labor market weakness despite near-term inflation risks, the Wall Street Journal reported on late Thursday.
Fed's Goolsbee: US economic data sending contradictory signals
Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee said late Thursday that September's Fed meeting remains open for action. Goolsbee further stated that the US central bank has been getting mixed messages on the economy.
USD/CHF Price Forecast: Climbs above 20-day SMA, eyes on 0.81
USD/CHF clears the 20-day SMA of 0.8076, rises over 0.56% sponsored by mixed economic data in the US that triggered a reaction by investors, who trimmed dovish Fed bets for the upcoming September meeting. The pair trades at 0.8087, about to crack the 0.81 handle.
EUR/USD retreats as strong US PMI lifts Dollar, Powell in focus
EUR/USD retreats some 0.40% during the North American session as the Greenback posts solid gains following the release of economic data from the United States (US).
Canadian Dollar weakens again amid fresh Greenback bids
The Canadian Dollar (CAD) took another step down against the US Dollar (USD) on Thursday, dipping into fresh 13-week lows and pushing the USD/CAD pair back into the 1.3900 handle.
Gold price slips as markets eye Powell at Jackson Hole
Gold price retreats on Thursday following the release of mixed data from the United States (US) and as traders brace for the Jackson Hole Symposium, waiting for the Federal Reserve's (Fed) Chair Jerome Powell speech on Friday. The XAU/USD trades at $3,339, down 0.30%.
Forex Today: Will Chair Powell...?
The US Dollar (USD) outperformed its peers on Thursday, gathering extra steam on the back of solid data releases and steady caution ahead of the critical speech by Chief Jerome Powell at the Jackson Hole Symposium on Friday. So far, consensus continues to favour a rate cut in September.
NZD/USD steadies after RBNZ rate cut, attention turns to Powell at Jackson Hole
The New Zealand Dollar (NZD) is finding its footing against the US Dollar (USD) on Thursday after heavy selling in the wake of the Reserve Bank of New Zealand's (RBNZ) rate cut a day earlier, which dragged the pair to its lowest level in four months.
Dow Jones Industrial Average stumbles amid tepid equity flows on Thursday
The Dow Jones Industrial Average (DJIA) softened on Thursday, testing 44,600 at its lowest point before staging a half-hearted recovery to 44,750.
Banxico Minutes show split vote, further cuts lie ahead
Banco de Mexico (Banxico) revealed the minutes of the August 7 monetary policy meeting, in which the central bank decided to reduce rates by 25 basis points (bps) to 7.75% on a vote split, with Deputy Governor Jonathan Heath in favor of keeping rates unchanged.
Silver Price Forecast: XAG/USD climbs for second day, eyes breakout above triangle barrier
Silver (XAG/USD) extends its rebound for a second consecutive day on Thursday, although upside could be limited by a stronger US Dollar (USD) and firm Treasury yields.
GBP/JPY climbs as strong UK Services PMI lifts Pound
The GBP/JPY advanced during the North American session, up 0.34% after following the release of solid economic data from Britain that outweighed solid Purchasing Managers Index (PMI) figures in Japan. The cross-pair trades at 198.91 after bouncing off daily lows of 198.12.
EU: What's required for capital markets union? - Standard Chartered
The lack of integrated capital markets in the EU is holding back innovation and productivity growth. Despite a renewed push by the European Commission, significant operational barriers to CMU persist. Factors such as incomplete banking union and political disagreements create further headwinds.
Fed's Hammack: Unclear if tariffs will ultimately be one-time impact
Beth Hammack, the President of the Federal Reserve Bank of Cleveland, struck a hawkish tone in remarks on Thursday, stressing the need to keep inflation in check. She warned that tariff impacts are only beginning to show in the economy and may intensify next year.
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