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Forex Today: US Dollar consolidates weekly gains ahead of mid-tier data
Here is what you need to know on Friday, September 25:
Equities: Rising yields weigh on stocks despite tech support - Deutsche Bank
Deutsche Bank strategists report renewed pressure on global equities as surging bond yields and higher Oil prices weigh on risk assets. The S&P 500 slipped for a third session despite a late recovery, while European indices saw broader declines.
Euro hovers near three-month highs against British Pound despite weak German data
The Euro (EUR) remains practically flat, just below three-month highs against the British Pound (GBP) on Friday, despite the downbeat German consumer confidence data released earlier in the day.
Euro holds gains against Canadian Dollar following German GfK Consumer Confidence
EUR/CAD gains ground for the second successive day, trading around 1.6110 during early European hours on Friday.
Swiss Franc: Dovish SNB keeps CHF under pressure against US Dollar – ING
ING’s Francesco Pesole explains that the Swiss National Bank held rates but surprised dovishly, downplaying second-round inflation effects and tweaking its FX stance.
Spain Gross Domestic Product (QoQ) meets expectations (0.7%) in 2Q
Spain Gross Domestic Product (QoQ) meets expectations (0.7%) in 2Q
Spain Gross Domestic Product (YoY) came in at 2.6%, below expectations (2.7%) in 2Q
Spain Gross Domestic Product (YoY) came in at 2.6%, below expectations (2.7%) in 2Q
Japanese Yen gains amid intervention watch as JGB 10-year yield hits 30-year highs
USD/JPY halts its five-day winning streak, trading around 158.10 during Asian hours on Friday. The currency pair depreciates as the Japanese Yen (JPY) gathers support. Market participants are remaining on high alert, anticipating potential market intervention by Japanese authorities.
AUD/USD Price Forecast: Key trigger is RBA’s policy on Tuesday
The Australian Dollar (AUD) gains ground against the US Dollar (USD) on Friday after a vertical sell-off in the last two trading days. In the European trade, the Aussie pair is slightly higher to near 0.7020 after finding cushion at around 0.7000.
Euro: Volatility divergence points to future swings against US Dollar – Commerzbank
Commerzbank’s Volkmar Baur highlights that EUR/USD realized 3-month volatility has dropped to near five-year lows. He links part of the calm to highly correlated central bank rate expectations driven partly by oil prices, but notes this cannot fully explain the move.
Canadian Dollar declines amid hawkish Fed outlook, US–Iran deal hopes
The USD/CAD pair gathers strength to around 1.4150 during the early European trading hours on Friday. Mounting bets on further Federal ‌Reserve (Fed) rate hikes provide some support to the US Dollar (USD) against the Canadian Dollar (CAD).
Sweden Producer Price Index (MoM) increased to 0.9% in August from previous 0.1%
Sweden Producer Price Index (MoM) increased to 0.9% in August from previous 0.1%
Sweden Producer Price Index (YoY) up to 6.8% in August from previous 6.4%
Sweden Producer Price Index (YoY) up to 6.8% in August from previous 6.4%