RBNZ’s Breman: Economic outlook has evolved broadly similar to MPC’s expectations
Reserve Bank of New Zealand (RBNZ) Governor Anna Breman said on Monday that the economic outlook has evolved broadly in line with the Monetary Policy Committee’s expectations, with signs continuing to emerge that growth is recovering.
Breaking: China’s November Retail Sales increase 1.3%, Industrial Production up 4.8%
China’s Retail Sales rose 1.3% year-over-year (YoY) in November vs. 2.9% expected and 2.9% in October, the latest data released by the National Bureau of Statistics (NBS) showed Monday.
EUR/USD: Advance in EUR from late last month has ended – UOB Group
Euro (EUR) is under mild downward pressure and could edge lower and test 1.1600; a clear break below this level is unlikely.
ECB’s Villeroy: Wise thing is to maintain interest rates at current level
European Central Bank (ECB) policymaker and French central bank governor, Francois Villeroy, said during European trading hours on Wednesday that the wise thing is to hold interest rates steady at their current level.
Japanese Yen bulls seem hesitant as fiscal concerns offset BoJ rate hike bets, ahead of Fed
The Japanese Yen (JPY) remains on the front foot against a broadly weaker US Dollar (USD) through the early European session on Wednesday, though it lacks bullish conviction.
GBP: Sterling gains on UK budget relief – ING
The UK budget lifted Pound Sterling (GBP) modestly as fiscal pressures eased, but back-loaded tax measures and upcoming BoE rate cuts could keep the currency’s upside limited, ING’s FX analyst Chris Turner notes.
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Thursday, according to FXStreet data. Silver trades at $53.41 per troy ounce, up 0.12% from the $53.35 it cost on Wednesday.
AUD/USD trades subduedly near 0.6470 ahead of US NFP data
The AUD/USD pair trades marginally lower to near 0.6470 during the European trading session on Thursday. The Aussie pair is under slight pressure as the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades firmly near its over five-month high around 100.30.
Chile lifts Copper price forecasts – ING
Chile, the biggest Copper producer, raised its price forecasts for this year and next, ING’s commodity experts Ewa Manthey and Warren Patterson note.
GBP/USD: Unlikely to break below 1.3000 – UOB Group
Pound Sterling (GBP) could decline further; deeply oversold conditions suggest it is unlikely to break below 1.3000. In the longer run, there is room for GBP to test the significant support level at 1.3000, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
JPY: Under political pressure – Commerzbank
The Japanese Yen (JPY) continued to depreciate steadily over the last few days, reaching its weakest level against the US dollar since the beginning of the year, with USD/JPY even rising above 157.
European Gas retreats – ING
European natural Gas prices fell nearly 2.4% on Wednesday, pressured by reports of U.S.–Russia peace discussions despite colder weather accelerating storage withdrawals, ING’s commodity experts Ewa Manthey and Warren Patterson note.
Dow Jones futures climb as Nvidia boosts AI trade, US NFP awaited
Dow Jones futures advance 0.62% to trade near 46,500 during European hours on Thursday, ahead of the United States (US) market open. The S&P 500 futures and Nasdaq 100 futures are also higher, rising 1.29% and 1.78% to around 6,750 and 25,150, respectively, at the time of writing.
EUR/USD: Major support at 1.1470 is unlikely to come under threat – UOB Group
Euro (EUR) could test 1.1500 before rebounding; the major support at 1.1470 is unlikely to come under threat. In the longer run, the bias for EUR has shifted to the downside; it is too early to tell if it can reach 1.1470, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
Oil: Russia-Ukraine peace talk noise – ING
Oil prices came under pressure yesterday, with ICE Brent settling about 2.1% lower, ING’s commodity experts Ewa Manthey and Warren Patterson note.
USD: Just volatility today, no new direction – Commerzbank
Today, markets will finally see US labor market data again. The foreign exchange market will certainly be looking very closely at the figures and all the details to find clues about the state of the US labor market and the implications for the Fed, Commerzbank’s FX analyst Volkmar Baur notes.
India Gold price today: Gold falls, according to FXStreet data
Gold prices fell in India on Thursday, according to data compiled by FXStreet.
Silver Price Forecast: XAG/USD hesitates around $51.00 with US NFP eyed
Silver (XAG/USD) retreated from weekly highs near $52.00 on Wednesday, as the US Dollar jumped following the release of hawkishly leaning FOMC minutes.
EUR/JPY Price Forecast: Eyes 182.00 after hitting record highs
EUR/JPY extends its winning streak for the fourth successive session, reached fresh all-time high of 181.73 and currently trading around 181.40 during the early European hours on Thursday. The currency cross moves upwards within the ascending channel pattern, suggesting a persistent bullish bias.
NZD/USD Price Forecast: Sticks to modest recovery gains above 0.5600 ahead of US NFP
The NZD/USD pair gains some positive traction on Thursday and recovers a part of the previous day’s heavy losses to the lowest level since April 9.