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ECB's Panetta: Should continue easing policy if downside growth risks reinforce disinflation
European Central Bank (ECB) executive board member Fabio Panetta argued on Friday that the ECB should continue to ease the monetary policy if downside growth risks reinforce the disinflationary process, per Reuters.
AUD/USD defies risk aversion and returns to levels near the YTD high at 0.6595
The Australian Dollar is showing an exceptional bullish tone on Friday's European morning session.
Forex Today: US Dollar capitalizes on safe-haven flows
Here is what you need to know on Friday, July 11:
Silver Price Forecast: XAG/USD breaches the long-term high at $37.30, supported by risk aversion
Silver (XAG/USD) extends gains for the second consecutive day on Friday, supported by a mild risk-averse sentiment, after Trump announced a new batch of levies and hiked baseline tariffs to all other countries to 15% or 20% from the initial 10%.
US Dollar Index surges to near 98.00 as traders adopt caution following mixed Fed signals
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, continues to gain ground for the third successive session and is trading at around 97.80 during the early European hours on Friday.
ECB's Schnabel: The bar for another rate cut is very high
European Central Bank (ECB) board member Isabel Schnabel said in an interview with Econostream on Friday, "the bar for another rate cut is very high."
Fed's Goolsbee: Do not understand arguments Fed should cut rates to make government debt cheaper
Chicago Federal Reserve (Fed) President Austan Goolsbee said on Friday that he "does not understand arguments the Fed should cut rates to make government debt cheaper, mandate is on jobs and prices."
USD/CAD Price Forecast: Aims to stabilize above 1.3700 as Trump imposes 35% tariffs on Canada
The USD/CAD pair gives back some of its initial gains during the European trading session on Friday. Still, the Loonie pair trades firmly near the key level of 1.3700.
EUR/USD depreciates further amid Trump's threat of higher blanket tariffs, strong US data
The EUR/USD pair is trading lower for the third consecutive day on Friday, with risk appetite subdued after the US President Donald Trump announced that the European Union (EU) will be included in the next batch of tariff letters and raised blanket levies for all other countries to 15% or 20% from t
NZD/USD keeps the red amid a firmer USD; manages to hold above 0.6000
The NZD/USD pair attracts some sellers following an intraday uptick to the 0.6045 area, back closer to the weekly high, and erodes a part of the previous day's strong gains. Spot prices, however, managed to hold above the 0.6000 psychological mark through the early European session on Friday.
Pound Sterling falls as UK GDP unexpectedly declines for second consecutive month
The Pound Sterling (GBP) faces selling pressure against its peers on Friday after the release of weak United Kingdom (UK) Gross Domestic Product (GDP) and factory data for May.
WTI moves above $66.00 due to prospect of potential US sanctions on Russia
West Texas Intermediate (WTI) Oil price retraces its more than 2% losses registered in the previous session, trading around $66.10 per barrel during the Asian hours on Friday. Crude Oil prices receive support from rising geopolitical risk premiums, driven by potential supply concerns.
EUR/CAD drifts higher to near 1.6000 ahead of Canadian employment release
The EUR/CAD cross edges higher to near 1.5995 during the early European trading hours on Friday. The Canadian dollar weakens against the Euro (EUR) after US President Donald Trump announces new tariffs.
GBP/JPY moves below 199.00 as UK GDP falls against expected expansion
GBP/JPY edges lower as the United Kingdom (UK) economy declines in May, remaining in the positive territory and trading around 199.20 during the Asian hours on Friday. The UK Gross Domestic Product (GDP) declined 0.1%, following a 0.3% drop in April, against the market consensus of 0.1% growth.
EUR/GBP holds positive ground above 0.8600 as UK economy shrinks again in May
The EUR/GBP cross trades in positive territory near 0.8615 during the early European session on Friday. The Pound Sterling (GBP) edges lower against the Euro (EUR) after the release of UK growth numbers.
Crude oil price today: WTI price bearish at European opening
West Texas Intermediate (WTI) Oil price falls on Friday, early in the European session. WTI trades at $65.82 per barrel, down from Thursday's close at $65.89.Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $68.27 after its previous daily close at $68.29.
UK GDP declines 0.1% MoM in May vs. +0.1% expected
The UK economy remained in contraction in May, with the Gross Domestic Product (GDP) declining 0.1%, following a 0.3% drop in April, the latest data published by the Office for National Statistics (ONS) showed on Friday.
FX option expiries for Jul 11 NY cut
FX option expiries for Jul 11 NY cut at 10:00 Eastern Time vi a DTCC can be found below.
EUR/JPY Price Forecast: Retains bullish bias above 171.50, overbought RSI warrants caution for bulls
The EUR/JPY cross gains ground to near 171.65 during the early European session on Friday.
USD/CHF ticks up to near 0.7980 in a sour market mood
The USD/CHF pair edges higher to near 0.7980 during Asian trading hours on Friday. The Swiss Franc pair trades broadly stable in a risk-averse market mood, followed by fears of an increase in United States (US) 10% tariff blanket.
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