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
Gold price slips as Iran escalation overshadows soft US PPI
The Gold price turns negative on Wednesday, even though the last two US inflation reports showed that prices are dropping, though developments in the Middle East sent energy prices higher. At the time of writing, the XA…
Euro elevates as softer US PPI weighs on the Dollar
EUR/USD trades higher near the 1.1450 area on Wednesday as the US Dollar (USD) weakens following softer-than-expected United States (US) Producer Price Index (PPI) data. The Euro (EUR) also finds some support after Spai…
Fed Chair Warsh: One-time change in prices isn't necessarily inflationary
Federal Reserve (Fed) Chair Kevin Warsh said on Wednesday that recent inflation figures provide an imperfect measure of underlying inflation. Warsh made the remarks while testifying on the Semiannual Monetary Policy Rep…
Canadian Dollar: Tentative flow reversal before BoC – BNY
BNY’s Geoff Yu highlights that selling of Canadian Dollar (CAD) accounts has eased ahead of the Bank of Canada (BoC) meeting, allowing light CAD purchases after prolonged pressure. He notes USD/CAD selling by CAD-based …
Silver slips as hawkish Fed outlook persists despite soft US inflation data
Silver (XAG/USD) trades on the back foot on Wednesday, struggling to capitalize on a weaker US Dollar (USD) as hawkish Federal Reserve (Fed) expectations keep bears in control. At the time of writing, XAG/USD trades aro…
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…
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…
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…
BoC expected to keep interest rates unchanged as inflation pressures remain contained
The Bank of Canada (BoC) is widely expected to keep its policy rate unchanged at 2.25% on Wednesday. This would be the sixth consecutive event with the central bank keeping its hand steady.
Fed Chair Warsh: Inflation will not be permanent
Federal Reserve (Fed) Chair Kevin Warsh said on Wednesday that current inflation pressure will not be permanent, while acknowledging that the latest inflation measures remain unsatisfactory. Warsh made the remarks while…
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…
China: Growth outlook steady with policy support – Standard Chartered
Standard Chartered economists Hunter Chan and Shuang Ding note that China’s Q2 Gross Domestic Product (GDP) growth slowed to 4.3% year-on-year, below the 4.5–5.0% target range, with domestic demand remaining soft. They …
Canadian Dollar shows little reaction to Bank of Canada interest rate decision
USD/CAD trades flat on Wednesday as traders show a limited reaction to the latest Bank of Canada (BoC) monetary policy announcement. At the time of writing, the pair trades around 1.4051, hovering near a one-month low.
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.
Why is Check Point Software stock sliding today?
Check Point Software Technologies (CHKP) is down 4.7% today. Here is some analysis on what might have caused this price movement.
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…
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 annual producer inflation drops to 5.5% in June vs. 6.2% expected
Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), declined to 5.5% on a yearly basis in June from 6% in May, the US Bureau of Labor Statistics (BLS) reported on Wednes…
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…
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,…
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…
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: 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 …