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Silver Price Forecast: XAG/USD extends upside to near $33.20 on US credit downgrade
Silver price (XAG/USD) hits a fresh weekly high to near $33.20 during North American trading hours on Wednesday. The white metal strengthens as the US Dollar (USD) extends its downside on the United States (US) credit rating erosion in the wake of large debt levels and escalated fiscal imbalances.
German Chancellor Merz: There are signs US could be interested in deal with EU
German Chancellor Friedrich Merz said on Wednesday that there are signs that the United States (US) could be interested in having a trade deal with the European Union (EU), per Reuters.
EUR/JPY ticks down to near 163.00, Russia-Ukraine truce talks in focus
The EUR/JPY pair edges down to near 162.90 during North American trading hours on Wednesday. The cross ticks lower as the Japanese Yen (JPY) outperforms across the board, with investors remaining increasingly confident that the Bank of Japan (BoJ) will raise interest rates again this year.
USD/JPY dips below support as the battle between safe-haven currencies persists
The US Dollar (USD) continues to weaken against the Japanese Yen (JPY), as shifting economic conditions and central bank outlooks reshape expectations for both currencies.
Loonie strengthens for third day as core inflation rises, US Dollar stumbles
The Canadian Dollar (CAD) strengthens further against the US Dollar (USD) on Wednesday, marking a three-day rally, with USD/CAD slipping below 1.3900 as markets digest stronger-than-expected Canadian inflation figures and a broadly subdued Greenback.
JPY showing impressive gains vs. USD - Scotiabank
Japanese Yen (JPY) is entering Wednesday's NA session with an impressive 0.4% gain vs. the US Dollar (USD), a mid-performer among the G10 in an environment of broad-based USD weakness, Scotiabank's Chief FX Strategist Shaun Osborne notes.
US Dollar weakens for third straight day as US fiscal concerns linger
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, slips for a third consecutive day on Wednesday as markets brace for another playing field of geopolitical tensions.
GBP trades to fresh multi-year high - Scotiabank
Pound Sterling (GBP) is entering Wednesday's NA session with a 0.1% gain again the US Dollar (USD) but losses against most of the remaining G10 currencies, trading erratically in response to the release of stronger than expected inflation data, Scotiabank's Chief FX Strategist Shaun Osborne notes.
AUD/USD: Break-out soon? - OCBC
Australian Dollar (AUD) fell post-dovish RBA yesterday. AUD last at 0.6445 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
USD, Treasuries and US equity futures weaken - Scotiabank
The US Dollar (USD) is trading weaker on the session. It's another one of those uncomfortable 'sell everything' days for the US.
USD/JPY extends its decline - OCBC
USD/JPY extended its decline following the broad decline in USD. USD/JPY was last at 143.74 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
CAD gets a mild tailwind from narrower spreads after CPI to press gains on USD - Scotiabank
Yesterday's hotter than expected April CPI data served to dampen expectations of a June BoC rate cut, putting some moderate, downward pressure on US/Canada interest rate spreads, Scotiabank's Chief FX Strategist Shaun Osborne notes.
DXY: Bias to sell rallies - OCBC
US Dollar (USD) fell broadly against most currencies. DXY was last at 99.59, OCBC's FX analysts Frances Cheung and Christopher Wong note.
USD/CHF Price Forecast: Extends losing streak for third trading day
The USD/CHF pair slides to near 0.8240 during the European trading session, extending the losing streak for the third trading day on Wednesday.
EUR strengthens as policymakers speak to end of ECB easing cycle - Scotiabank
Euro (EUR) is up 0.5% vs. the US Dollar (USD) and a mid-performer among the G10 in an environment of broad-based USD weakness, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Mexican Peso retreats against the US Dollar ahead of Mexican Retail Sales data, US tax vote
The Mexican Peso (MXN) and the US Dollar (USD) are gearing up for a crucial day of economic and fundamental headwinds, which could offer further insight into the current and projected growth outlooks for both economies.
USD/JPY: Bias for USD is on the downside - UOB Group
There is scope for US Dollar (USD) to edge lower to 143.80 vs Japanese Yen (JPY); a sustained break below this level seems unlikely. In the longer run, the bias for USD is on the downside toward 143.80, potentially to 143.30, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
AUD/USD Price Forecast: Sets for volatility expansion
The AUD/USD pair moves higher to near 0.6460 during European trading hours on Wednesday. The Aussie pair gains as the US Dollar (USD) continues to underperform its peers on the back of the United States (US) Sovereign Credit rating erosion.
Lagarde is positive on the strong Euro - Commerzbank
News of a potential Israeli attack on Iran's nuclear facilities is causing EUR/USD to rise this morning and shows that the euro is currently still favored as a safe haven against the dollar. However, this does not seem to be a problem, at least for the ECB.
NZD/USD: Outlook remains mixed - UOB Group
New Zealand Dollar (NZD) is likely to trade in a sideways range of 0.5905/0.5945 against the US Dollar (USD). In the longer run, outlook remains mixed, but NZD is likely to trade in a tighter range of 0.5835/0.5985, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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