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Dow Jones futures dip despite the upbeat mood on the latest US trade deals
Wall Street futures anticipate a mixed opening on Thursday, as the enthusiasm about trade deals wears off. Dow Jones futures are trading 0.30% lower at the time of writing, while S&P 500 Index futures trade 0.10% higher and the Nasdaq Index advances 0.3%, pointing to new record highs.
USD/CNH: 7.1295 is probably out of reach for now - UOB Group
Risk for US Dollar (USD) remains on the downside against Chinese Yuan (CNH); the significant support level at 7.1295 is probably out of reach for now. In the longer run, USD view is negative; it could drop to 7.1295, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
EUR steady ahead of ECB meeting - BBH
EUR/USD pared back some of yesterday's gains but is holding above 1.1700, BBH's FX analysts report.
EU spokesperson: Negotiated outcome with US is within reach
The European Union (EU) continues to engage intensively with the United States (US) on tariffs and focuses on finding a negotiated outcome, a European Commission spokesperson said on Thursday, per Reuters.
USD/JPY: Likely to trade in a range of 145.95/146.95 - UOB Group
US Dollar (USD) is likely to trade in a range of 145.95/146.95 against Japanese Yen (JPY). In the longer run, rapid increase in momentum indicates USD could weaken to 145.75, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
USD finds support amid trade deal hopes - BBH
USD bounces after a string of losses, the MSCI All Country World Index surged to a record high, and global bond yields are drifting higher, BBH's FX analysts report.
USD/JPY claws back losses as US Dollar gains ground
The USD/JPY pair recovers its early losses and flattens around 146.50 during the European trading session on Thursday.
NZD/USD: May test 0.6060 before leveling off - UOB Group
As long as New Zealand Dollar (NZD) holds above 0.6015 against US Dollar (USD), it may test 0.6060 before leveling off. In the longer run, NZD could continue to rise; the next level to watch is 0.6080, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
AUD/USD maintains uptrend above 50-DMA - Societe Generale
AUD/USD remains supported above its 50-DMA, with positive momentum pointing to further upside toward 0.6685 and beyond. Short-term support holds near 0.6500, Societe Generale's FX analysts report.
AUD/USD eases trims gains but remains near YTD highs above 0.6600
The Aussie is pulling back from the eight-month highs at 0.6625 hit earlier today, as the US Dollar pares some losses, but remains above 0.6600, consolidating gains after having rallied about 2% over the last five days.The trade deal between the US and Japan and hopes of an immediate agreement with
AUD/USD: Any advance may not reach 0.6625. - UOB Group
Australian Dollar (AUD) could continue to rise against US Dollar (USD); deeply overbought conditions suggest any advance may not reach 0.6625.
EUR/USD eyes resistance at 1.1830 - Societe Generale
EUR/USD is recovering after finding support near 1.1555, but the pair faces a key test at 1.1830. A failure to break above this resistance could trigger a period of consolidation, Societe Generale's FX analysts report.
GBP/USD: Likely to test 1.3610 before leveling off - UOB Group
Pound Sterling (GBP) could test 1.3610 before leveling off; the next resistance at 1.3650 is unlikely to be threatened.
Silver price today: Silver falls, according to FXStreet data
Silver prices (XAG/USD) fell on Thursday, according to FXStreet data.
EUR/USD: Likely to edge above 1.1795 - UOB Group
While negative divergence is forming, Euro (EUR) could edge above 1.1795 against US Dollar (USD); the major resistance at 1.1830 is likely out of reach for now.
TRY: Rate cuts to resume today - Commerzbank
Expectations have intensified for the Turkish central bank (CBT) to resume cutting interest rates today: with analyst forecasts for a cut between 250bp and 350bp (majority expectation for 250bp).
TRY: Restart of cutting cycle is here - Commerzbank
The Turkish central bank is likely to return to the cutting cycle today after tightening conditions in March and April. We expect a 250bp cut to 43.50% in line with market surveys. However, expectations are tilted towards a larger rate cut.
USD/CHF climbs toward 0.7950 as Swiss Franc weakens due to diminished safe-haven demand
USD/CHF edges higher for the second successive day, trading around 0.7940 during the European hours on Thursday.
EUR/GBP hits session highs at 0.8680 on upbeat Eurozone PMIs, trade deal hopes
The Euro is posting moderate gains on Thursday, after bouncing from 0.8640 on Wednesday, but remains trapped within the weekly range, with investors awaiting details of a widely expected trade deal with the US, and the outcome of the European Central Bank's meeting.News reporting that Eurozone and U
UK Preliminary Services PMI unexpectedly drops to 51.2 in July vs. 53 expected
Junko Koeda recently argued for the need to monitor second-round effects from rising rice costs. Another board member, Hajime Takata, said this month the BOJ must resume rate hikes after a temporary pause as Japan was on the cusp of achieving the bank's 2% target.
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