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Eurozone Preliminary GDP expands 0.1% QoQ in Q2 vs. 0% expected

The Eurozone economy expanded by 0.1% in the three months to June of 2025 after rising by 0.6% in the previous quarter, the preliminary estimate released by Eurostat showed Wednesday.

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BoC set to leave interest rate unchanged amid what some consider the end of cutting cycle

As the Bank of Canada (BoC) gets set to issue a new interest rate decision on Wednesday, July 30, there is a growing sense that the cutting cycle might have already ended.

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EUR/USD: Unlikely to weaken much further against - UOB Group

Euro (EUR) is unlikely to weaken much further against US Dollar (USD); it is more likely to consolidate in a range of 1.1520/1.1600. In the longer run, the level to watch now is 1.1500, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

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USD: GDP and Powell can add fuel to dollar rally - ING

This week's strong USD performance has been driven by a combination of the US-EU deal, positioning adjustments, and month-end flows. These factors should start to fade now, shifting all the attention to data and the Fed.

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China's Commerce Ministry: Hope the US can meet halfway

Chinese Commerce Ministry said in a statement on Wednesday that it "hopes the US can meet China halfway."

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Gameday for the US Dollar - Commerzbank

Before the Federal Reserve meeting this evening (European time), which will include a highly anticipated press conference, we will receive a series of exciting data releases. The ADP employment survey is likely to receive less attention.

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Trump gives Russia 10 days to reach peace deal - ING

Oil prices surged higher yesterday, with ICE Brent up more than 3.5% and settling at the highest level in over a month. This was after President Trump confirmed that he's giving Russia 10 days to come to a truce with Ukraine.

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CAD: Dovish risks today - ING

The Canadian Dollar (CAD) has dropped less than other G10 currencies during this round of US Dollar (USD) appreciation.

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DXY: FOMC and data - OCBC

US Dollar (USD) strength moderated overnight, following the pullback in UST yields. DXY was last at 98.82 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

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EUR/JPY remains subdued near 171.00 as German economy contracts in Q2, Eurozone GDP eyed

EUR/JPY extends its losses for the third successive session, trading around 171.10 during the European hours on Wednesday. The currency cross holds losses following key economic data from Germany, the largest economy in the Eurozone. Traders shift their focus toward Eurozone GDP data.

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NZD/USD picks up above 0.5950 as the US Dollar eases ahead of the Fed

The New Zealand Dollar is showing a mild recovery attempt against its US counterpart, trimming losses after a four-day losing st¡treak, as investors brace for the US Federal Reserve's monetary policy decision due later today.The Kiwi picked up from 0.5945 lows but remains trapped within Tuesday's ra

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Forex Today: GDP releases from major economies, BoC and Fed rate decisions to ramp up volatility

Here is what you need to know on Wednesday, July 30:

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German Preliminary GDP contracts 0.1% QoQ in Q2 as expected

The German economy contracted by 0.1% over the quarter in the second quarter of 2025, following a 0.4% increase in the first quarter, according to the preliminary data published by Destatis on Wednesday. Markets expected a 0.1% contraction in the reported period.

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Pound Sterling trades with caution against US Dollar ahead of Fed interest rate decision

The Pound Sterling (GBP) trades cautiously near 1.3350 against the US Dollar (USD) during the European trading session on Wednesday as investors await the Federal Reserve's (Fed) monetary policy announcement at 18:00 GMT.

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WTI holds near $69.00, five-week highs, following Trump's renewed threat to Russia

West Texas Intermediate (WTI) Oil price steadies after registering gains in the previous two successive sessions, trading around $68.90 per barrel during the early European hours on Wednesday.

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EUR/GBP softens to near 0.8650 after German Retail Sales data

The EUR/GBP cross trades on a negative note near 0.8650 during the early European session on Wednesday. The Euro (EUR) weakens against the Pound Sterling (GBP) despite the upbeat German economic data.  

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China's Politburo says economic foundation is stable

China's Politburo held its latest meeting, with the key takeaways noted below.

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Crude Oil price today: WTI price bearish at European opening

West Texas Intermediate (WTI) Oil price falls on Wednesday, early in the European session. WTI trades at $68.72 per barrel, down from Tuesday's close at $68.91.Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $71.56 after its previous daily close at $71.75.

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German Retail Sales rise 4.9% YoY in June vs. 1.6% previous

Retail Sales in Germany rose 1.0% month-over-month (MoM) in June, following the revised 1.6% decline reported in May, according to official data released by Destatis on Wednesday.The market forecast was for a 0.5% increase.On an annual basis, Retail Sales rose 4.9% in June vs. May's 1.6% revision.

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FX option expiries for Jul 30 NY cut

FX option expiries for Jul 30 NY cut at 10:00 Eastern Time via DTCC can be found below.

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