Swiss National Bank Chairman Martin Schlegel reiterates preparedness to act against Swiss Franc appreciation, citing unchanged inflation pressures. Swiss National Bank (SNB) Chairman Martin Schlegel stated the central bank has heightened its readiness to intervene in the f
Revised Eurozone PMIs and higher-than-expected inflation data reinforce expectations for further ECB rate hikes. EUR/GBP traded around 0.8635 on Wednesday, showing minimal movement as investors digested revised Eurozone PMI data and inflation figures. The HCOB Services PMI
TD Securities forecasts a May rebound in US services activity driven by new orders and supply chain disruptions tied to Iran tensions. The US ISM Services Index is expected to climb to 54.7 in May from 53.6 in April, above the consensus estimate of 53.8. The increase is at
The New Zealand Dollar (NZD) depreciates for the third consecutive day against a stronger US Dollar (USD) on Wednesday, hitting lows below 0.5900. The Kiwi is showing the weakest performance among major currencies with tensions between the US and Iran crushing risk appetit
MUFG’s Derek Halpenny argues that strong United Kingdom (UK) credit and mortgage data, alongside elevated UK front-end yields, support the case for further Bank of England (BoE) tightening. He highlights Megan Greene’s hawkish stance, a potential July rate hike, and notes
EUR/JPY drops 0.3% as Japanese authorities signal potential currency market action to support the yen. The Japanese yen strengthened sharply against the euro in European trading, with EUR/JPY falling 0.3% following comments from a senior Japanese official warning of possib
The Japanese Yen (JPY) reflects a sudden jump against its major currency peers in the European trading session on Wednesday. There is a noticeable uptick in the Asia-Pacific currency against its peer, pushing EUR/JPY over 0.3% down to near 185.40 Japanese Yen Price
AUD/USD holds in a tight 0.7153–0.7187 band The Australian Dollar is seeing a gradual pullback within its range against the US Dollar. The AUD/USD failed to retest 0.7135 and instead held in a tight 0.7153–0.7187 band. This movement still sees a soft tone w
May’s Eurozone Composite PMI was revised higher to 48.5, exceeding the flash estimate of 47.5 and signaling slower contraction. Eurozone’s HCOB Composite PMI was revised upward to 48.5 in May, surpassing the initial flash reading and consensus estimate of 47.5. The revisio
Danish Krone: Record low against Euro tests central bank stance – Danske Bank Danske Research Team notes that EUR/DKK hit a new historic high at 7.4739, with the Danish central bank refraining from FX intervention in May. They argue that while the bank shows patience with
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