Daily momentum improves, but weekly outlook stays bearish

Daily momentum improves, but weekly outlook stays bearish

Silver (XAG/USD) jumps more than 4% on Wednesday as weaker-than-expected US ADP employment data and easing energy-driven inflation prompt traders to scale back expectations for Federal Reserve (Fed) rate hikes. At the time of writing, XAG/USD trades around $62.30, near its highest level in a month. From a technical perspective, the latest leg higher has […]

RBNZ seen hiking again – TD Securities

RBNZ seen hiking again – TD Securities

TD Securities reviews New Zealand’s Q2 labour report, noting unemployment rose to 5.6%, an 11‑year high, partly on higher participation, while employment still grew 0.5% quarter‑on‑quarter. Private-sector wages slightly beat consensus and the RBNZ’s May forecast. Despite mixed signals, they believe the RBNZ has room for another 25 bps rate hike in September as activity […]

Weakness seen as structural against Euro – Nordea

Weakness seen as structural against Euro – Nordea

Nordea’s Chief Analyst Jan Størup Nielsen notes that Nationalbanken did not intervene in July to support Denmark’s fixed exchange rate policy, after a small purchase of kroner in June. He argues the recent weakening of the Danish krone against the Euro reflects shifts in domestic corporate demand and expects the EUR/DKK interest rate differential to […]