Market narrative
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Despite the USD being stronger than most major currencies, the USD/ZAR is down over 6% this year with a notable barrier near 16.20 recently.
Forex
Gold: Rally capped by rate risks – TD Securities
NZD/USD Price Forecast: Tests levels sub-0.5800 as bulls run out of steam
The ECB will announce its rate decision today at 12:15 GMT. The central bank is expected to leave its deposit rate unchanged at 2.25% after raising rates by 25 basis points in June, as policymakers assess the implications of the renewed U.S.-Iran conflict.
AUDUSD (Australian dollar) finds psychological support The AUDUSD (Australian dollar) hopes to stop the reversal after finding crucial support at the 0.7000 zone. Overall, the pair remains bullish to hit a higher high if prices remain above the said support.
USD/JPY Price Forecast: Remains above 163.00 near fresh 40-year highs
Euro: Hawkish ECB stance to limit downside against US Dollar – ING
The ECB rate decision and strong U.S. data keep forex markets on edge. Explore the latest outlook for DXY, EUR/USD and GBP/USD.
GBP/USD Price Forecast: Struggles to return above 20-day EMA
Gold and silver await the ECB decision and next week's Fed meeting as central bank buying supports long-term demand. Explore the latest outlook.
Silver Price Forecasts: XAG/USD stalls below $60 as US yields rally
The Pound to US Dollar (GBP/USD) exchange rate traded in a narrow range on Wednesday as softer UK inflation was offset by resilient core price growth, while escalating geopolitical tensions supported demand for the US Dollar. At the time of writing, GBP/USD was trading around $1.3372, little changed from Wednesday's opening.
British Pound: Downside risks below 1.3340 against US Dollar – UOB
EUR/USD Price Forecast: Reflects strength ahead of ECB's policy decision
AUD/USD Price Forecast: Looks to build on upbeat Aussie jobs data-led gains above 0.7000
Saudi Arabia Gold price today: Gold falls, according to FXStreet data
Philippines Gold price today: Gold falls, according to FXStreet data
United Arab Emirates Gold price today: Gold falls, according to FXStreet data
Pakistan Gold price today: Gold falls, according to FXStreet data
India Gold price today: Gold steadies, according to FXStreet data
