Market News
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US Treasuries: Yields hit multi-year highs – Deutsche Bank
The Deutsche Bank Early Morning Reid details a sharp rise in US Treasury yields, with the 10-year reaching its highest level since 2007 and the 30-year touching levels last seen in 2004. The move is driven by strong data and increased odds of a Federal Reserve hike in October.
India Industrial Output above expectations (6%) in August: Actual (8%)
India Industrial Output above expectations (6%) in August: Actual (8%)
India Cumulative Industrial Output above expectations (0%) in August: Actual (6.7%)
India Cumulative Industrial Output above expectations (0%) in August: Actual (6.7%)
India Manufacturing Output above forecasts (0%) in August: Actual (9%)
India Manufacturing Output above forecasts (0%) in August: Actual (9%)
BoE’s Ramsden warns upside inflation risks may spur rate hikes
Bank of England (BoE) Deputy Governor Dave Ramsden said on Monday that risks to the inflation outlook have become increasingly tilted to the upside, according to Reuters.
USD/JPY: Intervention risk caps upside – BBH
BBH’s Elias Haddad highlights that the Dollar is broadly firmer, but intervention warnings from Japanese officials are supporting the Japanese Yen.
EUR/USD: Consensus shifts lower on Dollar resilience – Societe Generale
Kit Juckes at Societe Generale notes that EUR/USD forecasts have been repeatedly revised down as Dollar strength persists. While consensus has moved from 1.20 to 1.16 and Societe Generale now sees 1.15, client discussions suggest markets are even more Dollar-bullish.
S&P 500: Equities resilient despite rates selloff – Deutsche Bank
Deutsche Bank’s Jim Reid notes that global equities, including the S&P 500, held up well despite a notable rise in bond yields and hawkish rate expectations. The S&P 500 gained over 1% on the week and remains close to record highs, supported by optimism on growth and strong PMI data.
Global markets: War and peace risk narrative – Rabobank
Rabobank’s RaboResearch Global Economics & Markets Global Daily frames a broad geopolitical risk backdrop, from Middle East tensions to US-China relations and potential great-power summits.
AUD/USD: Key support test as RBA looms – Societe Generale
Societe Generale’s Kenneth Broux highlights AUD/USD trading near its 200-day moving average around 0.7024, a historically important support. The pair sits at the lower boundary of a descending channel with support at 0.6975 and resistance at 0.7090.
USD/JPY Price Forecast: Slips below nine-day EMA, 157.00
USD/JPY extends its losses for the second consecutive day, trading around 156.90 during the European hours on Monday. The currency pair is moving forward within a symmetrical triangle, which indicates a period of market consolidation, where neither buyers nor sellers are in control.
Japanese Yen: BOJ back-to-back hike risk – Rabobank
Rabobank’s RaboResearch Global Economics & Markets team flags potential historic tightening by the Bank of Japan (BOJ). Former BOJ director Momma sees another 25 basis point hike as a real possibility, which would be the first back-to-back move in decades.
Japan’s Mimura reiterates fears US-Japan joint intervention
Japan's top currency diplomat Atsushi Mimura said on ​that markets should take at face value the "very ‌clear" message Tokyo and Washington delivered last week on the Yen, signalling his resolve to act against excessive falls ​in the currency, Reuters report.