EUR/USD
1.13698
-0.365%
Gold
4044.90
-2.058%
Oil
90.533
5.405%
USD/JPY
163.934
0.487%
GBP/USD
1.33250
-0.369%
GBP/JPY
218.447
0.116%
Real-time News
The preliminary reading of the Eurozone consumer confidence index for July will be released in ten minutes.Gold prices fell more than 2% on Thursday, July 23, as Middle East conflict pushed up energy prices, exacerbated inflation concerns, and reinforced expectations of a US interest rate hike this year. Jim Wyckoff, market analyst at American Gold Exchange, said, "Rising oil prices are pushing up bond yields because people believe the Fed will be unable to lower interest rates due to inflation concerns. The market expects no change in Fed rates next week, perhaps only more hawkish comments. But if the Fed unexpectedly takes a dovish or hawkish stance, the market will react."Interest Rate Decision: 1. Interest Rate Level: The ECB kept its three key interest rates unchanged, in line with market expectations, leaving room for a rate hike in September. 2. Interest Rate Path: No pre-commitment was made to a specific interest rate path; the ECB will adopt a data-driven, meeting-by-meeting decision-making approach. 3. Middle East Conflict: The inflationary impact of a full-blown energy shock has not yet materialized; the ECB is closely monitoring the intensity and duration of the shock. 4. Inflation Expectations: The energy price outlook "remains close to the baseline scenario projected in June," and the ECB remains well-positioned to respond to energy price shocks. 5. Market Reaction: Traders bets on the ECB remained stable, with expectations of a 48 basis point rate hike by the end of the year; a September rate hike is almost a certainty. Lagarde Press Conference: 1. Interest Rate Path: A member asked whether we should consider raising interest rates. There is no pressure to raise rates today. No forward guidance is provided. 2. Inflation Outlook: Inflation risks are skewed to the upside. Energy inflation could cause inflation to be well above target in the first half of 2027, but inflation is expected to begin to slow after the first half of 2027. 3. Economic Outlook: The growth outlook faces downside risks. Economic growth will remain moderate in the short term, while the fundamental drivers of growth will remain solid in the medium term. 4. Middle East conflict: Conflict is the main source of uncertainty. The energy shock could intensify further, and its impact on other prices and wages may be more significant than currently expected.American Airlines (AAL.O) fell more than 7%, hitting a six-week low, as the company projected a loss for the third quarter, whereas the market had expected a profit.QumulusAI has signed a two-year, $32 million deal with NVIDIA (NVDA.O) Blackwell B300 provider.
