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Societe Generale Flags Downside Risks for AUD/USD
Societe Generale analysts warn that AUD/USD remains under pressure, with downside risks as the pair converges on the 0.69 area and the March–April trough near 0.6833.
Euro Faces Downside Risk as Yield Gap Widens vs Dollar – MUFG
MUFG's Lee Hardman notes EUR/USD has broken below its long-held 1.1400–1.1800 range due to diverging ECB and Fed policy expectations, with softer Euro-zone data and easing energy prices reducing pressure on the ECB to hike further.
Silver (XAG/USD) Holds Above $61.00 Amid Strong US Dollar
Silver is trading a few cents above $61.00 on Wednesday, nursing marginal losses as the US Dollar remains strong.
Silver Falls 0.72% as XAG/USD Drops to $61.15
Silver prices declined on Wednesday, with XAG/USD trading at $61.15 per troy ounce, down 0.72% from the previous level of $61.60.
US Dollar Strength Driven by AI Equity Weakness, OCBC Analysts Say
OCBC analysts Sim Moh Siong and Christopher Wong note that AI-related equity weakness has boosted safe-haven demand, supporting the US dollar and leading to year-end forecast revisions.
AUD/USD Falls to 0.6900, Further Drop Toward 0.6830 Seen
The AUD/USD pair declined 0.28% to near 0.6900 during Wednesday's European session, hitting its lowest level in over two weeks. Analysts expect additional downside toward the 0.6830 area.
USD/JPY Intervention Risk Caps Downside, Says MUFG
MUFG strategist Lee Hardman notes USD/JPY is trading near recent highs but remains capped below July 2024 peak of 161.95 due to intervention risks.
Pound, Gilts Unfazed by UK PM Starmer's Resignation
The pound and UK gilts reacted calmly to Keir Starmer's resignation as prime minister, with analysts noting markets are growing less sensitive to political upheavals. The post also highlights Streeting as a bullish chancellor choice for sterling.
Hungary Cuts Rate by 25 bps to 6.00%; Standard Chartered Sees Faster Easing
The National Bank of Hungary cut its base rate by 25 bps to 6.00%, in line with expectations. Standard Chartered analyst Saabir Salad described the decision as notably dovish, signaling a faster easing path ahead.
Euro Extends Losses Against US Dollar as Fed Hike Bets Firm
The euro continued its decline against the US dollar on Wednesday, falling 0.25% to around 1.1350 as expectations for further Federal Reserve rate hikes strengthened.
UOB highlights sharp selloff in AUD/USD, sees risk to 0.6835
AUD/USD plunged 1.22% to 0.6908, leaving the pair deeply oversold but with further downside risk, according to UOB analysts. They note potential for a brief intraday break below 0.6900, targeting 0.6835.
Gold Bears Stay in Control as Fed Rate-Hike Bets Lift USD
Gold (XAU/USD) recovers slightly from nearly two-week lows near $4,050, but bears retain control as Federal Reserve rate-hike expectations continue to support the US dollar.
Silver Rebounds Toward $62 After Hitting Six-Month Lows
Silver (XAG/USD) recovered from a six-month low, trading around $61.70 during European hours after a 5% loss the previous day.
USD/JPY Breaks Above 160, Intervention Fears Cap Gains – OCBC
USD/JPY has broken back above 160, but intervention risk and official warnings are limiting further upside relative to other G10 currencies, according to OCBC strategists.
USD/CHF Nears Seven-Month Highs at 0.8125 as Dollar Strengthens
USD/CHF extends its rally for the sixth consecutive day, approaching 0.8125, driven by broad US Dollar strength amid a tech stock rout and emerging cracks in the US-Iran peace deal.
EUR/USD Drops Below 1.1400 on USD Strength, Risk-Off Mood
EUR/USD has fallen below the 1.1400 level as the US dollar strengthens across G10 currencies, with risk-off sentiment weighing on equities and pushing oil prices lower, according to Danske Bank.
Indonesian Rupiah Weakens as Hawkish Fed Tone Lifts US Dollar
The Indonesian Rupiah declined against the US Dollar for a third consecutive day, with USD/IDR trading near 17,980 during Asian hours Wednesday, as the greenback strengthened on expectations of continued hawkish Federal Reserve policy.
DXY Holds Above 101.50, Overbought RSI Points to Pullback Risk
The US Dollar Index (DXY) is trading near 101.50 in early European hours, but overbought RSI signals suggest a potential corrective decline.
RBA's Hauser: Inflation Still Too High, More Work Needed
Reserve Bank of Australia Deputy Governor Andrew Hauser stated that inflation remains far too high and the central bank still has work to do to bring it down.
EUR/GBP Tests 10-Month Lows Near 0.8610 as Risk Aversion Persists
The euro weakens against the pound for a fourth straight session, with EUR/GBP dropping to around 0.8610, its lowest level in ten months, amid continued risk-off market conditions.
NZD/USD Extends Losses to Six Days, Near 0.5655 on Hawkish Fed
The New Zealand Dollar weakened against the US Dollar for a sixth straight session, trading near 0.5655 in early European hours, pressured by a hawkish Federal Reserve stance.
Riksbank Minutes Expected to Show Split Among Board Members
Sweden's Riksbank will release minutes today after leaving the policy rate at 1.75% and raising the rate path. The board was divided in May, and the minutes are expected to confirm a continued split.
Bessent Comments on FX as Japan Reviews Reserves, PBOC Advisor Hints at Rate Cuts
Bessent discussed FX conditions as Japan evaluates its reserves management. A PBOC advisor signaled possible rate cuts, while Asian tech stocks saw volatility, especially in South Korea.
Indian Rupee Slides Further as Hawkish Fed Bets Strengthen
The Indian Rupee opened lower against the US Dollar on Wednesday, with the USD/INR pair extending gains as expectations of a hawkish Federal Reserve policy remain firm.