Author: FX
Christine Lagarde, President of the European Central Bank (ECB), explains the ECB’s decision to leave key rates unchanged at the July policy meeting and responds to questions from the press.Join our ECB Live Coverage hereECB press conference key quotes”Survey data point to overall modest expansion.””Higher tariffs and stronger Euro are expected make it harder for firms to invest.””Strong labour market, rising real incomes, solid private sector balance sheets support consumption.””Defence and infrastructure investment should bolster growth.””Indicators of underlying inflation suggest inflation will stabilise at target.””Longer-term inflation expectations continue to stand at around 2%.””Risks to economic growth remain tilted to the…
Gold surrenders gains to risk-sensitive equities with the EU-US deal in focus.Global equities benefit from prospects of more trade deals ahead of the August 1 deadline.XAU/USD lingers below Fibonacci resistance as bulls fail to gain traction above $3,400Gold is extending losses for a second straight session on Thursday, pressured by a shift toward risk-on sentiment and a decrease in safe-haven flows.At the time of writing, XAU/USD is hovering above $3,370, retreating from recent highs near $3,440 on renewed hopes of an EU-US trade deal ahead of the August 1 tariff deadline.On the data front, weekly Initial Jobless Claims fell to…
Pound Sterling weakens as UK PMI grew modestly The Pound Sterling (GBP) declines against its major peers on Thursday as the preliminary United Kingdom (UK) S&P Purchasing Managers’ Index (PMI) report for July has shown that the overall business activity grew at a slower-than-projected pace. The Composite PMI come in at 51.0, lower than estimates of 51.9 and 52.0 in June, suggesting that the overall business activity continued to expand, but at a moderate pace. UK Composite PMI growth slowed down as the service sector activity surprisingly rose at a moderate pace. The Services PMI dropped to 51.2, while it…
A first look at S&P Global’s Composite PMI indicated that US business activity grew faster in July, with the index rising to 54.6 from the previous month’s 52.9. The number, which is over the 50 mark that divides expansion from contraction, suggests that the private sector is gathering traction.The statistics showed that different industries were performing in a mixed fashion. The Manufacturing PMI dropped from 52.9 to 49.5, which means that manufacturing activity lost momentum. The Services PMI, on the other hand, increased from 52.9 to 55.2, which might mean that demand in the services sector is picking up momentum.Following…
Prior 50.5Manufacturing PMI 49.8 vs 49.7 expectedPrior 49.5Composite PMI 51.0 vs 50.8 expectedPrior 50.6 This article was written by Justin Low at investinglive.com. Source link
USD/CAD looks to have paused its downswing after testing key support levels. Could this be the springboard for a bounce in the coming days? Here’s the 4-hour chart we’re watching! USD/CAD 4-hour Forex Chart by TradingView USD/CAD has been trending lower since last week, as rising expectations for a Fed rate cut have dragged the dollar down, despite some safe-haven demand offering limited support. At the same time, stronger-than-expected Canadian CPI reports cooled expectations for a Bank of Canada rate cut. That helped lift the Loonie, even with global trade jitters and softer oil prices in the mix. Remember that…
China's Xi warns EU to 'make correct strategic choices' at tense summit Source link
Is that a complex double bottom I’m seeing on the 4-hour chart of GBP/CAD? Take a look at this potential bounce off a major support area! GBP/CAD 4-hour Forex Chart by TradingView After a dovish BOE surprise that dragged this sterling pair to the long-term floor around the 1.8350 minor psychological mark earlier this month, GBP/CAD is suggesting that it may be done with its decline. At the same time, upbeat Canadian CPI data appears to have dampened further BOC easing expectations, keeping the Loonie supported. Can the pair head north from here? Remember that directional biases and volatility conditions…
Asset classes appeared to be struggling to find direction early in the day, before a wave of risk-taking from the US-Japan trade agreement took over, lifting equities and crude oil. Gold, on the other hand, spent most of the day in the red while traders dumped safe-haven holdings on improving global trade optimism. Here are headlines you may have missed in the last trading sessions! Headlines: U.S. and Japan reached a trade agreement, Japanese bond yields and Nikkei surged Australia Westpac Leading Index for June 2025: 0.0% m/m (0.2% m/m forecast; -0.1% m/m previous) BOJ Governor Uchida announced that trade deal…
Seeing this on social media from a few peeps:That US Treas Sec Bessent says Japan tariffs could go back to 25% if Trump is not happy.USD/JPY has dropped back under 146.00 This article was written by Eamonn Sheridan at investinglive.com. Source link