Silver Price Forecast: XAG/USD rises as oil prices correct, US Dollar faces pressure

The post Euro: Yield spreads hint at recovery against US Dollar – MUFG appeared on BitcoinEthereumNews.com. MUFG’s Derek Halpenny highlights that European Central Bank (ECB) minutes added little new information but confirmed openness to another rate hike, consistent with MUFG’s call for a 25bp move in September. Despite the Euro being July’s weakest G10 currency, a turning 2-year yield spread and potential US yield declines could support renewed EUR/USD upside in coming weeks. ECB stance and yields guide Euro outlook “The ECB will be certainly less concerned over longer-term inflation expectations becoming un-anchored with the 5y5y inflation swap rate having declined since the initial ceasefire was agreed.” “If crude oil and/or natural gas prices were to rebound sharply then risks will rise of course but at this point longer-term inflation expectations remain well anchored.” “In that context we see continued risks of the ECB acting again consistent with our current forecast of another

The post British Pound surrenders early gains as US Dollar regains ground appeared on BitcoinEthereumNews.com. The British Pound (GBP) gives back its early gains and turns almost flat around 1.3410 against the US Dollar (USD) during the European trading session on Friday. The GBP/USD pair falls back as the US Dollar regains ground amid fears that the restart of the war between the United States (US) and Iran would last long. US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the Japanese Yen. USD EUR GBP JPY CAD AUD NZD CHF USD -0.02% -0.03% -0.44% -0.00% -0.04% -0.21% -0.06% EUR 0.02% -0.01% -0.41% 0.02% -0.03% -0.19% -0.04% GBP 0.03% 0.01% -0.39% 0.03% -0.02% -0.17% -0.04% JPY 0.44% 0.41% 0.39% 0.44% 0.40% 0.21% 0.36% CAD 0.00% -0.02% -0.03% -0.44% -0.04% -0.21% -0.07% AUD 0.04% 0.03% 0.02% -0.40% 0.04% -0.17% -0.06% NZD 0.21% 0.19% 0.17% -0.21% 0.21% 0.17% 0.13% CHF 0.06% 0.04%

The post USD/JPY Price Forecast: Dollar finds resistance at the 161.75 previous support appeared on BitcoinEthereumNews.com. The US Dollar (USD) holds losses below 161.75 against the Japanese Yen (JPY) on Friday following a 100-pip reversal earlier on the day. Japanese Finance Minister Satsuki Katayama announced a plan to boost pension funds’ investment in domestic assets, which sent the Yen surging across the board during the Asian trading session. Katayama said on Friday that the government wants the giant Japanese pension funds, which manage more than USD 1.8 trillion in assets, to redirect their investment into the domestic market. The market has seen this plan as more effective than interventions to support the Yen, and the immediate reaction was a strong JPY recovery. The US Dollar, on the other hand, remains moderately soft, amid rumours that Qatar and Pakistan are working to bring US and Iran back to the negotiating table. Beyond that, the release of the minutes of June’s Feder

Bitcoin bulls faced "crucial resistance" at $65,000 next as BTC price action diverged from oil and US dollar strength.

The post Why are Oil prices taking a breather after rallying earlier this week? appeared on BitcoinEthereumNews.com. West Texas Intermediate (WTI) Oil futures on NYMEX trade slightly lower to near $71.50 during the European trading session on Friday. The Oil price extends its correction after posting a fresh over two-week high at $75.73 on Wednesday. The black gold has come under pressure amid signs of de-escalation in the restart of the war between the United States (US) and Iran. Earlier in the day, a US official confirmed that technical talks with Iran continued, despite President Donald Trump declaring that the memorandum of understanding (MoU) with Tehran is over. US President Trump also said late Wednesday that he had a conversation with Iran, adding that the nation wants the deal badly. However, he doesn’t believe that Iran would honor the deal, CNBC reported. Meanwhile, the downside in oil prices will likely remain limited, as the exchange of attacks between the US and Iran are

The post US Dollar: AI-driven imports reshape trade – Commerzbank appeared on BitcoinEthereumNews.com. Commerzbank’s Volkmar Baur says AI-related capital-goods imports are structurally widening the US trade deficit. Strong foreign demand currently helps finance the gap, but weaker confidence in the United States (US) AI (Artificial intelligence) investment story could create risks for the Dollar. AI imports and trade deficit risks “For now, it seems safe to say that a much sharper rise – or at least a significantly higher level – in the oil price would be needed to move the fx markets significantly.” “After the tariffs caused significant volatility in US foreign trade data in recent months, the underlying trend has become apparent again. And this trend continues to point toward a rising foreign trade deficit. Even the currently very high exports of crude oil and petroleum products (+93% yoy in USD) cannot prevent this.” “However, the rise in oil exports points to an important developme

The post Oil: Brent retraces gains on fragile ceasefire – Rabobank appeared on BitcoinEthereumNews.com. Rabobank strategist Molly Schwartz notes that Brent Oil traffic through the Strait of Hormuz remains constrained despite a nominal ceasefire between the US and Iran. War insurance costs have risen sharply and shipowners are being advised to pause Hormuz voyages. Brent crude briefly traded above $80/bbl before retracing to around $76/bbl as markets stayed optimistic. Hormuz risks and Brent price swings “According to Bloomberg, the Joint Maritime Information Center said that traffic through the Strait remains at “reduced levels,” (around 24% of pre-war transit) even though US-assisted vessel transits have been largely uninhibited.” “Reuters reports that “some war insurers advise shipowners to pause Hormuz voyages after attacks,” adding that “war insurance for ships inside the Gulf has already ticked higher towards 3% of a vessel’s value, up from 2% at the end of last week.” Meanwhile,

The post British Pound: Upside risk toward resistance against US Dollar – UOB appeared on BitcoinEthereumNews.com. According to UOB’s Quek Ser Leang, GBP/USD’s sharp rebound has left scope to test major resistance at 1.3445, though a clear break is seen as unlikely in the near term. Short-term support lies at 1.3390 and 1.3360. Over one to three weeks, strengthened momentum could open 1.3480 if 1.3445 gives way, while broader ranges dominate over months. Pound testing key resistance band “24-HOUR VIEW: GBP fell to 1.3315 on Wednesday and then rebounded strongly. When GBP was at 1.3390 in the early Asian session yesterday, we highlighted that “the sharp rebound appears to be overdone, but there is a chance for GBP to test 1.3420 before the risk of a pullback increases.” We added, “the major resistance at 1.3445 is unlikely to come into view.” GBP then rose to 1.3430, pulled back to 1.3381 before moving back up to close at 1.3409 (+0.14%). While there has been no clear increase in upward