European Gas prices extend losses – ING
European Gas prices remain under pressure as mild weather weighs on demand, but below-average EU storage levels and a heavily short-positioned market could provide support if colder conditions materialize later this month, ING’s commodity experts Ewa Manthey and Warren Patterson note.
NZD/USD Price Forecast: Remains in corrective phase ahead of NZ Q3 GDP data
The NZD/USD pair trades 0.15% lower to near 0.5775 during the European trading session on Wednesday. The Kiwi pair is under pressure as the US Dollar (USD) recovers sharply, following the release of the United States (US) Nonfarm Payrolls (NFP) data for October and November.
Germany IFO – Expectations came in at 89.7, below expectations (90.5) in December
Germany IFO – Expectations came in at 89.7, below expectations (90.5) in December
Germany IFO – Business Climate registered at 87.6, below expectations (88.2) in December
Germany IFO – Business Climate registered at 87.6, below expectations (88.2) in December
USD/CAD Price Forecast: Tests upper descending wedge boundary near 1.3800
USD/CAD gains ground after registering modest losses in the previous session, trading around 1.3780 during the European hours on Wednesday. The daily chart suggests a potential upside breakout, with falling, converging trendlines forming a bullish descending wedge pattern.
Germany IFO – Current Assessment below forecasts (85.7) in December: Actual (85.6)
Germany IFO – Current Assessment below forecasts (85.7) in December: Actual (85.6)
Oil sell-off deepens as Brent breaks below $60 – ING
Oil prices slid sharply as surplus fears intensified, pushing Brent below $60 per barrel, though supply risks and falling US Crude inventories offered limited near-term support, ING’s commodity experts Ewa Manthey and Warren Patterson note.
Austria HICP (YoY) below expectations (4.1%) in November: Actual (4%)
Austria HICP (YoY) below expectations (4.1%) in November: Actual (4%)
Austria HICP (MoM) below forecasts (0.3%) in November: Actual (0.2%)
Austria HICP (MoM) below forecasts (0.3%) in November: Actual (0.2%)
South Africa Consumer Price Index (MoM) dipped from previous 0.1% to -0.1% in November
South Africa Consumer Price Index (MoM) dipped from previous 0.1% to -0.1% in November
South Africa Consumer Price Index (YoY) came in at 3.5% below forecasts (3.6%) in November
South Africa Consumer Price Index (YoY) came in at 3.5% below forecasts (3.6%) in November
EUR/GBP rises toward 0.8800 following UK CPI, Germany’s IFO Survey data awaited
EUR/GBP recovers its recent losses from the previous session, trading around 0.8780 during the European hours on Wednesday. The currency cross gains ground as the Pound Sterling (GBP) declines following the release of weaker Consumer Price Index (CPI) data from the United Kingdom (UK) for November.
USD/INR corrects sharply due to RBI’s intervention, US CPI in focus
The Indian Rupee (INR) gains sharply against the US Dollar (USD) in the opening session on Wednesday. The USD/INR pair plunges over 1% to near 90.00 from its all-time high of 91.56 due to the Reserve Bank of India’s (RBI) intervention in the spot and Non-deliverable Forward (NDF) markets.
Japanese Yen remains heavily offered; USD/JPY eyes 156.00 ahead of BoJ policy meeting
The Japanese Yen (JPY) selling bias remains unabated through the first half of the European session on Wednesday, which, along with a goodish pickup in the US Dollar (USD) demand, lifts the USD/JPY pair beyond mid-155.00s in the last hour.
Russia’s largest Palladium producer sees platinum deficit this year – Commerzbank
Russia’s top Palladium producer expects a notable supply deficit for Platinum in 2025, while Palladium remains mostly balanced, highlighting diverging market views compared with the World Platinum Investment Council’s forecasts, Commerzbank’s commodity analyst Carsten Fritsch notes.
Platinum hits $1,800, highest since 2011 – Commerzbank
Platinum and Palladium prices rose sharply this week, driven by record-high Silver and Gold levels and prospects of increased demand from the European automotive sector following indications of a softer 2035 combustion engine ban, Commerzbank’s commodity analyst Carsten Fritsch notes.
JPY strengthens ahead of BOJ rate decision – BBH
The Japanese Yen (JPY) gained against most major currencies as markets anticipate the Bank of Japan’s first rate hike since January, with PMI data showing modest growth and investors looking for clues on the central bank’s policy normalization path, BBH FX analysts report.
Gold retreats below $4,300 ahead of US jobs data – Commerzbank
Gold dipped below $4,300 per ounce as investors awaited today’s US labor market data, with weaker-than-expected figures likely to support prices, while stronger results could trigger volatility by shifting Fed policy expectations, Commerzbank’s Head of FX and Commodity Research Thu Lan Nguyen notes.
GBP shows strength amid mixed UK data – BBH
The Pound Sterling (GBP) outperformed as UK labor market conditions eased and the December PMI signaled firmer private sector growth, while markets fully priced in an upcoming Bank of England rate cut, BBH FX analysts report.
China Crude imports surge in November – Commerzbank
China imported far more Crude than needed in November, adding to strategic reserves and helping prevent a sharper drop in global Oil prices, though the sustainability of this trend remains uncertain, Commerzbank’s FX analyst Michael Pfister notes.