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Japan's Akazawa: Will call for US to issue an executive order to lower reciprocal auto tariffs
Japanese Economy Minister and top trade negotiator Ryosei Akazawa made some comments on Wednesday ahead of his visit to the United States (US) for trade negotiations.
USD: Cook dismissal impact limited - ING
President Trump's firing of Fed Governor Lisa Cook and the broad view that this marks further politicisation of the Fed are negative for the dollar. Yet, the FX reaction has been muted and may only play out in the longer run, likely for two reasons.
EUR/USD: Watching French political risk - OCBC
Euro (EUR) continued to trade restraint.
Steel inventories in China continue to rise - ING
Steel inventories at major Chinese Steel mills rose for a second consecutive week to 15.7mt in mid-August, up 4% compared to early August, according to the China Iron and Steel Association (CISA), ING's commodity analysts Warren Patterson and Ewa Manthey note.
EU to propose removing tariffs on US goods to meet Trump's demands - Bloomberg
Citing people familiar with the matter, Bloomberg reported on Wednesday that the European Union (EU) is looking to quicken its move to pass the legislation to remove all tariffs on US industrial goods.
Silver price today: Silver falls, according to FXStreet data
Silver prices (XAG/USD) fell on Wednesday, according to FXStreet data.
GBP: Still good short-term outlook - ING
Another indication that French politics is having a limited FX impact is EUR/GBP, which has faced only limited downside pressure since the start of the week, ING's FX analyst Francesco Pesole notes.
TRY: Lira crosses 41 to the dollar even as FX deposit scheme axed - Commerzbank
USD/TRY breached the 41.0 level this week amid media and policymaker commentary about positive developments on the economic front. The lira exchange rate versus a 50-50 basket of USD and EUR is depreciating at faster than 40% annualised.
Dow Jones futures steady as Nvidia earnings, AI stocks drive focus
Dow Jones futures remain steady near 45,500 during European hours on Wednesday, ahead of the opening of the United States (US) regular markets. Moreover, the S&P 500 futures and the Nasdaq 100 futures hold ground near 6,480 and 23,590, respectively.
DXY: 2-way trades likely in the interim - OCBC
US Dollar (USD) continued to trade on the backfoot, from news of Trump removing Fed Governor Lisa Cook from her position. DXY last at 98.65 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
USD/CAD picks up to 1.3850, remains wavering within previous ranges
The US Dollar is posting moderate gains against the Loonie on Wednesday.
Secondary tariffs against India come into force - ING
Oil prices were unable to extend their 4-day run of gains, with ICE Brent coming under pressure yesterday to settle 2.3% lower. There was no single catalyst for yesterday's move.
EUR: Euro proving resilient to France - ING
The Euro (EUR) is not actively trading on the French political turmoil, but it's likely facing some degree of restraint from it. French equities had another bad day, but what matters is OAT's performance.
Gold Price Forecast: XAU/USD slips to near $3,380 on resilient US Dollar
Gold price (XAU/USD) depreciates after registering more than three-quarters of losses in the previous session, trading around $3,380 per troy ounce during the European hours on Wednesday.
Silver Price Forecast: XAG/USD retreats below $38.50 amid a firmer Dollar
Silver's (XAG/USD) accelerates its reversal from last week's highs right above $39.00, to levels below $38.50, with bears testing support at Tuesday's low of $39.35, amid a broad-based US Dollar strength on Wednesday.The US Dollar Index, which measures the value of the US Dollar against the world's
Indian Rupee sees more downside as US tariffs on India set to kick in
The Indian Rupee is expected to see more downside against the US Dollar (USD) as increased tariffs on imports from India to the United States (US) are set to come into effect at 12:01 AM EDT or 09:31 PM IST.
FX option expiries for Aug 27 NY cut
FX option expiries for Aug 27 NY cut at 10:00 Eastern Time via DTCC can be found below.
GBP/JPY rises to near 199.00 as BoJ rate cut bets ease
GBP/JPY gains ground after registering losses in the previous session, trading around 198.80 during the European hours on Wednesday. The currency cross appreciates as the Pound Sterling (GBP) receives support as traders expect the Bank of England (BoE) to avoid further rate cuts.
Pound Sterling trades broadly stable as Trump threatens Fed independence
The Pound Sterling (GBP) trades in a tight range around 1.3460 against the US Dollar (USD) during the European trading session on Wednesday.
USD/JPY retreats from 147.95 with Fed's independence in question
The US Dollar pares gains after a three-day rally against the Japanese Yen, as investors ponder the consequences of US President Trump's attempts to gain control of the Federal Reserve, and Governor Cook's decision to sue the president.Trump's unprecedented decision to oust Cook is just the latest e
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