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NZD/USD: Major resistance at 0.5920 is unlikely to come under threat - UOB Group
New Zealand Dollar (NZD) is expected to move higher, but the major resistance at 0.5920 is unlikely to come under threat. In the longer run, the likelihood of NZD breaking above the top of the 0.5820/0.5920 range is increasing, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
USD edges higher on Waller comment, more losses ahead - Scotiabank
The US Dollar (USD) is tracking a little higher into the end of the week after finding a little support overnight on comments from Fed Governor Waller, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
US Oil stocks fell last week, strong demand for Oil products - Commerzbank
According to the US Department of Energy, US crude Oil inventories fell by 2.4 million barrels last week compared to the previous week, Commerzbank's commodity analyst Carsten Fritsch notes.
AUD/USD might rise above 0.6540 - UOB Group
Australian Dollar (AUD) could rise above 0.6540; it is unlikely to reach the next resistance at 0.6555. In the longer run, AUD is slightly positive, and it is likely to edge higher to 0.6555, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Significant increase in Russian Oil shipments to India expected in September - Commerzbank
Bloomberg data showed that Russian Oil exports to India fell by almost 40% compared to the previous week to just over 800,000 barrels per day, the lowest level since October 2022, unless there will be an upward revision, Commerzbank's commodity analyst Carsten Fritsch notes.
GBP/USD: Chance to GBP to test 1.3545 - UOB Group
There is a chance for Pound Sterling (GBP) to test 1.3545; the major resistance at 1.3575 is unlikely to come into view. In the longer run, GBP is likely to trade in a range between 1.3395 and 1.3575, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Russia wants to export more Oil - Commerzbank
There are currently conflicting reports about Russia's Oil supplies, Commerzbank's commodity analyst Carsten Fritsch notes.
NZD/USD Price Forecast: Struggles to break above 20-EMA
The NZD/USD pair holds onto gains near 0.5885 during the European trading session on Friday. The Kiwi pair demonstrates strength ahead of the United States (US) Personal Consumption Expenditure Price Index (PCE) data for July, which will be published at 12:30 GMT.
Gold pulls back toward $3,400 as focus shifts to US PCE inflation data
Gold (XAU/USD) edges lower on Friday, pulling back from its highest level since July 23, marked the previous day.
EUR/USD: Negative divergence suggests any advance may not reach 1.17200 - UOB Group
Momentum continues to suggest upside potential in Euro (EUR); negative divergence suggests any advance may not reach 1.1720.
JPY: Inflation in the Tokyo area continues to cool down - Commerzbank
The inflation figures for the Greater Tokyo Area, which usually provide a reliable indication of the figures for Japan as a whole, were published this morning and were in line with expectations, Commerzbank's FX analyst Michael Pfister notes.
EUR/CHF pulls back after resistance rejection - Société Générale
EUR/CHF failed to break above 0.9445 and slipped back below its 200-DMA, with the pullback now eyeing 0.9280/0.9260. A deeper decline towards last year's trough at 0.9210 cannot be ruled out, Société Générale's FX analysts note.
USD: Stronger growth, higher inflation, and something about the Fed - Commerzbank
Yesterday's second estimate of US growth in the second quarter was 0.2 percentage points higher than expected.
Iron ore gets a boost after report that China aims to cut steel output - ING
China will aim to cut steel production and curb new capacity between 2025 and 2026, according to Reuters. A planning document issued jointly by multiple Chinese ministries outlined proposals to reduce steel output, given excess supply and insufficient demand.
AUD/USD struggles to extend upside above 0.6550 ahead of US PCE inflation data
The AUD/USD pair struggles to extend its upside above the key level of 0.6500 during the European trading session on Friday.
DXY: Core PCE today - OCBC
US Dollar (USD) extended its slippage overnight while most other currencies, including Asian FX advanced more than G7 counterparts. DXY last at 98.01 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
USD: Dollar downside risks have increased - ING
The dollar has weakened a bit further, in line with the direction set by lower front-end US Dollar (USD) rates, ING's FX analyst Francesco Pesole notes.
USD/JPY: Mild downward bias - OCBC
USD/JPY was a touch softer, likely weighed by moves in USD/CNY. Pair was last at 147.13 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
CAD: Growth outlook keeps deteriorating - ING
With the exception of the New Zealand dollar (which was hit by a dovish cut from the Reserve Bank), the Canadian Dollar (CAD) has been the worst-performing G10 currency in August, ING's FX analyst Francesco Pesole notes.
USD/CNH: Heavy bias on the daily chart - OCBC
USD/CNH has extended its decline, breaking below 7.12 this morning to trade its weakest level since Nov-2024. Pair was at 7.1312 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
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