XAG/USD rebounds modestly after a 4.3% drop Thursday, driven by Middle East tensions and rising US Treasury yields. Silver (XAG/USD) climbed back above $58.00 in early European trading Friday, paring losses as the US Dollar eased from recent highs. The metal had slumped 4.
France’s composite PMI climbed to 49.6 in July, marking the slowest contraction since February amid a services sector uptick. France’s S&P Global Flash Composite PMI increased to 49.6 in July from 47.2 in June, indicating the mildest economic contraction since the Middle E
July flash composite PMI reached 49.6, a marginal contraction, driven by a 7-month high in services activity. France’s flash composite PMI climbed to 49.6 in July, up from 47.2 in June, as a rebound in the services sector offset a slight dip in manufacturing. The services
Stronger-than-expected UK retail sales data support the British pound, halting a six-day losing streak against the yen. The GBP/JPY pair stabilized around 218.20 in early European trading on Friday, recovering from six consecutive sessions of declines. The British pound fo
Stronger-than-expected UK retail sales data bolster the British Pound, offsetting recent losses against the Japanese Yen. The GBP/JPY cross stabilized around 218.20 in early European trading on Friday, recovering from six consecutive days of declines. The British Pound fou
Rising crude prices bolster the Canadian Dollar after Houthi attacks disrupt Red Sea oil shipments, pressuring the USD/CAD pair. The USD/CAD pair fell to 1.4075 in early European trading Friday, weighed by surging oil prices amid escalating Middle East conflicts. Yemen’s I
ECB Governing Council member rules out second-round effects but pledges action if inflation outlook worsens. European Central Bank Governing Council member Martin Kocher stated there is no hard evidence of second-round inflation effects but warned the ECB will act if the i
The Euro climbs to a two-month high near 0.8550 versus the Pound despite stronger-than-expected UK retail sales data. The Euro extended its rally against the British Pound, pushing the EUR/GBP pair to 0.8550 in European trading on Friday. This marks the highest level for t
The Euro climbs to 0.8550 against the British Pound, defying robust UK retail sales growth of 1% MoM in June. The Euro extended gains against the British Pound, pushing the EUR/GBP pair to 0.8550, its highest level in two weeks. The move came despite stronger-than-expected
Markets price 44 bps of Fed rate hikes this year as Treasury yields climb, lifting the US Dollar Index ahead of next week’s FOMC meeting. The US Dollar Index (DXY) rose 0.3% to 101.44 as Treasury yields extended gains, driven by shifting Federal Reserve rate expectations.
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