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The USD/JPY outlook indicates that focus has shifted from tariffs to upcoming central bank policy meetings. US business activity data was mixed. Traders expect Powell to maintain his cautious tone. The USD/JPY outlook indicates a shift in sentiment as the market’s focus shifts from tariffs to upcoming central bank policy meetings. The dollar recovered, while the yen remained fragile, as traders speculated on the upcoming Fed and BoJ policy meetings.  –Are you interested in learning more about ETF brokers? Check our detailed guide- The dollar recovered as the week came to a close, as the impact of the recent US-Japan…

Gold holds losses as labour market resiliency and stronger services PMI support the Fed’s ‘higher-for-longer’ narrative.Risk appetite improves on hopes of a EU-US trade deal, global equities rally weighs on bullion.XAU/USD momentum stabilises near neutral territory, suggesting that bulls may be losing steam below $3,400.Gold is extending losses for a second straight session on Thursday, pressured by a shift toward risk-on sentiment and a decrease in safe-haven flows.At the time of writing, XAU/USD is hovering above $3,360, retreating from recent highs near $3,457 on renewed hopes of an EU-US trade deal ahead of the August 1 tariff deadline.On the data…

The European Central Bank (ECB) announced on Thursday that it left key rates unchanged following the July policy meeting, as expected. With this decision, the interest rate on the main refinancing operations, the interest rates on the marginal lending facility and the deposit facility stood at 2.15%, 2.4% and 2%, respectively.Join our ECB Live Coverage hereKey takeaways from ECB policy statement”Incoming information is broadly in line with ECB’s previous assessment of inflation outlook.””Domestic price pressures have continued to ease, with wages growing more slowly.””Partly reflecting ECB’s past interest rate cuts, the economy has so far proven resilient overall in a…

A first look at S&P Global’s Composite PMI indicated that US business activity grew faster in July, with the index rising to 54.6 from the previous month’s 52.9. The number, which is over the 50 mark that divides expansion from contraction, suggests that the private sector is gathering traction.The statistics showed that different industries were performing in a mixed fashion. The Manufacturing PMI dropped from 52.9 to 49.5, which means that manufacturing activity lost momentum. The Services PMI, on the other hand, increased from 52.9 to 55.2, which might mean that demand in the services sector is picking up momentum.Following…

The Euro retreats from three-week highs with the bullish trend intact on hopes of an EU-US trade deal.News reports anticipate an agreement that would include 15% baseline tariffs for EU products.The ECB is expected to leave rates on hold, but it might hint at further easing down the road.The EUR/USD pair is trimming gains on Thursday, after having rallied on news reports that the European Union (EU) and the United States (US) might be close to a trade deal. The positive preliminary Eurozone PMIs have failed to support the common currency, as investors close Euro long positions ahead of the…

The Pound Sterling faces selling pressure against its peers due to moderate growth in preliminary UK PMI data for July.Hopes of US-EU trade deal have improved demand for risk-perceived assets.The Fed is expected to leave interest rates steady next week.The Pound Sterling (GBP) declines against its major peers on Thursday as the preliminary United Kingdom (UK) S&P Purchasing Managers’ Index (PMI) report for July has shown that the overall business activity grew at a slower-than-projected pace. The Composite PMI come in at 51.0, lower than estimates of 51.9 and 52.0 in June, suggesting that the overall business activity continued to…

The rupee pared its initial gains and settled for the day 1 paisa higher at 86.40 (provisional) against the US dollar on Thursday, as risk aversion in global markets and an overnight recovery in crude oil prices dented investors’ sentiments. Forex traders said uncertainty over the India-US trade deal has been an overhang for the forex market, leaving the rupee trading in a tight range. Moreover, a negative trend in domestic equities and foreign fund outflows weighed on investors’ sentiments and restricted the upmove of the local unit. At the interbank foreign exchange, the domestic unit opened at 86.33 against…

The Indian rupee snapped a six-session losing streak on Thursday but was unable to end the day higher despite gains in Asian peers as dollar demand from foreign banks, likely driven by foreign portfolio outflow, continued to exert pressure. The rupee closed at 86.4050 against the U.S. dollar, barely changed from its close at 86.4075 in the previous session. Traders pointed to dollar demand from at least three foreign banks keeping pressure on the rupee, even as most Asian peers rose, with the offshore Chinese yuan hitting an eight-month peak before trimming gains.However, the Thai baht declined alongside the country’s…

 Forex traders said uncertainty over the India-US trade deal has been a huge overhang for the forex market. The rupee appreciated 17 paise to 86.24 against the US dollar in early trade on Thursday, tracking the weakness of the American currency in the overseas market. Forex traders said uncertainty over the India-US trade deal has been a huge overhang for the forex market, leaving the rupee trading in a tight range. Moreover, a negative trend in domestic equities and foreign fund outflows dented investors’ sentiments and restricted the upmove of the local unit. At the interbank foreign exchange, the domestic…

The Euro weakens against the Pound as focus shifts to Thursday’s ECB policy decision.The ECB is expected to keep rates unchanged at 2.00%.Eurozone Consumer Confidence improves to -14.7 in July.The Euro (EUR) weakens against the British Pound (GBP) on Wednesday as investors turn their focus to the European Central Bank (ECB) policy decision due Thursday. The EUR/GBP cross is under pressure, trading around 0.8655 during the American trading hours, down nearly 0.43% on the day.Wednesday’s pullback in the pair follows a short-lived rally earlier this week, as investors reassess Eurozone monetary policy prospects amid fading rate cut expectations. The central…