News from the economy, politics and the financial markets
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Canadian Dollar strengthens despite subdued oil prices
USD/CAD loses ground for the second successive day, trading around 1.3920 during the Asian hours on Friday. The pair depreciates as the US Dollar (USD) declines following a softer-than-expected US inflation report.
Hyperliquid leads crypto's new revenue-driven era — Bitwise
Crypto assets are entering a new phase in which revenue and returns to token holders will increasingly determine their valuations, according to Bitwise Chief Investment Officer (CIO) Matt Hougan.
Latvia issues air threat alert, Finland restricts air and sea traffic
Latvian officials announced the activation of an air threat alert in the southeastern part of the country, near the border with Russia and Belarus, Reuters reported on Friday.
British Pound edges higher vs softer USD; lacks follow-through as geopolitics cap gains
The GBP/USD pair attracts some dip-buyers during the Asian session on Friday and, for now, seems to have snapped a two-day losing streak to the weekly low, which it touched the previous day.
Japanese Yen strengthens as soft US PPI tempers Fed outlook
The USD/JPY pair loses traction to near 159.45 during the Asian trading hours on Friday. Softer US inflation reports and fears of currency intervention weigh on the US Dollar (USD) against the Japanese Yen (JPY).
Australian Dollar declines despite RBA rate hike warning
AUD/USD edges lower for the third successive day, trading around 0.7060 during the Asian hours on Friday. Reserve Bank of Australia (RBA) Assistant Governor Chris Kent stated on Thursday that recent interest rate hikes are producing their intended effect.
New Zealand Dollar recovers from two-week low as fading Fed hike bets undermine USD
The NZD/USD pair is seen building on the previous day's bounce from the 0.5820 region, or a two-week low, and gaining some positive traction during the Asian session on Friday. Spot prices climbed back above 0.5850 in the last hour and, for now, seem to have snapped a four-day losing streak.
PBOC sets USD/CNY reference rate at 6.7878 vs. 6.7888 previous
On Friday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7878 compared to the previous day's fix of 6.7888.
United Kingdom: Growth resilient as BoE stays on hold – Standard Chartered
Standard Chartered’s Christopher Graham notes that UK growth remained resilient in Q2, with GDP rising 0.4% q/q, driven by private consumption and business investment while government spending dragged. He expects a slowdown in H2, with growth easing to 0.2–0.3% q/q in Q3 and Q4.
Silver rose 11% as inflation cooled
The number that has weighed most on silver this year was set at a US government bond auction in late July, the first since 2008 to pay this much above inflation.
Australian Dollar Price Forecast: Further consolidation on the cards
Directional bias: while above the 200-day SMA around 0.6930, spot should maintain the neutral-to-bullish stance, although a persistent inability to advance north of 0.7000 leaves spot exposed to a correction.
Pound Sterling Price News and Forecast: GBP/USD climbs as soft US inflation data hurt Fed hawkish bets
The Pound Sterling (GBP) registers modest gains versus the Greenback on Thursday as US inflation data in the producer side came in below or in line with estimates, showing that the disinflation process continues. At the time of writing, the GBP/USD pair trades at 1.3503, up 0.06%. Read More...
Cryptocurrencies price prediction: XRP, Dogecoin & Bitcoin – American Wrap 13 August
Dogecoin (DOGE) edges above the daily open, trading above $0.070 as of Thursday. While this uptick offers a positive signal, DOGE continues to trade within a broader bearish context, down approximately 12% from its July peak of $0.079.
S&P 500 hits new high on fresh AI enthusiasm
The AI boom is back on, as tech lifts the S&P 500 to a new high, says Chris Beauchamp, Chief Market Analyst at online trading and investing platform IG.
Gold breakout: The Gold reserve race has started [Video]
In this week’s Live from the Vault, Andrew Maguire details how the August gold breakout caught mainstream analysts off guard, as central banks and sovereign buyers accelerate their shift away from dollar debt and into physical gold at a new pace.
Australian Dollar stumbles near recent highs
AUD/USD is trading little changed on Thursday, shrinking near the 0.7050s below the multi-week high reached on Wednesday near 0.7091. The pair holds its ground after US data pointed to cooling price pressure, keeping the US Dollar (USD) stagnant.
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