Dell leads broader AI hardware selloff as shares tumble 14%
Dell dropped 14%, HPE fell 8%, and SMCI declined 5% on no confirmed catalyst, but Dell and HPE retain massive YTD gains of 219% and 92%, respectively.
FX
Dow Jones Industrial Average toasts peak inflation, then drops the glass
The Dow Jones Industrial Average (DJIA) spent most of Wednesday rewarding the disinflation trade and the final two hours dismantling it. A surprise negative June wholesale inflation print at 12:30 GMT set off a grind th…
British Pound rallies as soft US PPI hits US Dollar
The Pound Sterling rises by some 0.60% against the US Dollar after the latest Producer Price Index (PPI) in the US showed prices edging lower, driven by the dip in energy prices since late May. At the time of writing, t…
Norwegian Krone: Softer inflation but Norges Bank still hawkish – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad highlights broad Norwegian Krone (NOK) underperformance after Norway’s underlying inflation dropped to an 18‑month low, below Norges Bank and consensus projections. BBH doubt…
Euro: Energy risks cap upside against US Dollar – ING
Chris Turner at ING says EUR/USD rallied on softer US CPI but warns that rising Oil and European natural gas prices limit upside. He expects EUR/USD to struggle above 1.1460/70 and potentially retreat toward 1.1360/80 i…
Indian Rupee holds early support as traders trim hawkish Fed bets
The Indian Rupee (INR) gains ground against the US Dollar (USD) on Wednesday after rising significantly in the last three trading days. The USD/INR pair drops to near 96.11 as the US Dollar comes under selling pressure,…
US Dollar: Fed expectations weigh on Dollar – Commerzbank
Commerzbank’s Volkmar Baur notes that softer US inflation has reduced expectations for Federal Reserve rate hikes and pressured the US Dollar. June headline and core inflation fell more than consensus, leading markets t…
Huang says Vera Rubin in production, dismisses delay reports
CEO Jensen Huangsaid the company’s prediction of a $200 billion central processing unit market includes China, showing that Nvidia still anticipates strong long-term demand in one of the world’s most important AI market…
United States: Cool CPI provides temporary relief for rates – DBS
DBS Group Research economist Samuel Tse and Senior Rates Strategist Eugene Leow analyse USD rates after softer June CPI data. They note the US Treasuries curve bull steepened as headline and core CPI surprised to the do…
British Pound dips below 1.3400, turns negative on the day as US Dollar picks up
The British Pound (GBP) has retraced previous gains against the US Dollar (USD) on Wednesday, returning to the 1.3390 area from session highs of 1.3420 and turning negative on the daily chart. The safe-haven US Dollar h…
Euro gives away gains as Eurozone Industrial Production disappoints
The Euro (EUR) has given away previous gains against the US Dollar (USD) on Wednesday, with the EUR/USD pair retreating to levels just above 1.1420 from session highs near 1.1450. A negative surprise on the Eurozone's I…
Gold eases as soft US CPI fails to dent the Fed's hawkish outlook
Gold (XAU/USD) trades on the back foot on Wednesday as the US Dollar (USD) and US Treasury yields rebound after coming under pressure on Tuesday following softer-than-expected US Consumer Price Index (CPI) data.
Eurozone Industrial Production unexpectedly declines 0.2% in May
The Eurozone industrial sector activity declines by 0.2% in May, while it was expected to rise at the same pace, according to data published by Eurostat. In April, the Industrial Production data rose by 0.3%, revised hi…
Japanese Yen hesitates near 40-year lows as Iran war, Oil prices hold bulls
The Japanese Yen (JPY) struggles in the lower range of the 162.00s against the US Dollar (USD) on Wednesday, not far from the 40-year lows, at 162.85. Rising geopolitical tensions and higher Oil prices offset the positi…
Japan's Takaichi: Food inflation has decelerated slightly, but still remains high
Japan’s Prime Minister Sanae Takaichi said on Wednesday that food inflation has decelerated slightly but still remains high.
Canadian Dollar edges higher ahead of BoC rate decision
The USD/CAD pair loses traction to near 1.4050 during the early European trading hours on Wednesday. Traders expect the US Federal Reserve (Fed) to skip the July rate hike as inflation cools, weighing on the US Dollar (…
Silver Price Forecasts: XAG/USD holds below $59.00 despite US Dollar’s weakness
Silver (XAG/USD) ticks lower on Wednesday, trading at $58.50 at the time of writing, after rejection at the $59.00 area on Tuesday. The sour market sentiment amid rising hostilities in Iran continues to weigh on the pre…
Gold: Rebound needs softer Oil and data – OCBC
OCBC’s Sim Moh Siong and Christopher Wong report that Gold has rebounded from sub-4000 levels after softer United States (US) Consumer Price Index (CPI) prompted markets to pare Fed hike expectations and pushed USD and …
Silver price today: Silver falls, according to FXStreet data
Silver prices (XAG/USD) fell on Wednesday, according to FXStreet data. Silver trades at $58.41 per troy ounce, down 0.46% from the $58.68 it cost on Tuesday.
USD/JPY Price Forecast: Reflects volatility contraction amid triangle formation
The USD/JPY pair trades slightly lower at around 162.20 during the European trading session on Wednesday. The pair edges down as the US Dollar (USD) underperforms due to easing fears of interest rate hikes by the Federa…
Workspace plans asset sales amid activist investor pressure
Since July, the nine-person hedge fund they run from Fort Lauderdale, Florida, called HoldCo, has challenged lenders with more than $200 billion in combined assets, demanding that they take swift action or face public c…
CEE FX: US inflation relief supports koruna and forint – ING
Frantisek Taborsky at ING says lower US inflation and reduced Fed hike expectations bring relief to CEE FX, despite higher Oil and US–Iran tensions. He maintains a bullish view on the Czech koruna and Hungarian forint, …
United States Dollar Index stays below 101 as traders trim hawkish Fed bets
The US Dollar (USD) underperforms its major currency peers as traders have trimmed Federal Reserve (Fed) interest rate hike expectations for the current year, following the release of the softer-than-expected United Sta…
Chinese Yuan: Appreciation scope seen limited against US Dollar – Commerzbank
Volkmar Baur at Commerzbank highlights that China’s weak domestic economy and reliance on exports constrain upside for the Chinese Yuan. Despite solid export growth and sizeable trade surpluses, investment and real reta…