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India Manufacturing Output above forecasts (0%) in August: Actual (9%)
India Manufacturing Output above forecasts (0%) in August: Actual (9%)
US Dollar: Support from yields and growth – BBH
Elias Haddad at Brown Brothers Harriman argues the Dollar can keep benefiting from widening US-G6 rate differentials and higher US real yields.
WTI Oil extends gains nearing $95.00 as Trump rejects Hormuz reopening plan
Oil appreciates firmly on Monday, following US President Donald Trump's refusal of Tehran’s latest proposal to cease hostilities and reopen the Strait of Hormuz. The US benchmark West Texas Intermediate (WTI) Oil barrel is trading at $94.60 at the time of writing, up nearly 3.5% on the day so far.
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.
US Dollar Index: Strongest G10 currency performance – Deutsche Bank
Deutsche Bank’s Jim Reid and team note that the US Dollar was the strongest-performing G10 currency last week as Treasury yields surged and markets repriced a more hawkish Federal Reserve.
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.
Euro consolidates losses below 1.1400 amid higher Oil prices, risk-off markets
The Euro (EUR) shows marginal losses against the US Dollar (USD) on Monday, as the rejection of the latest peace proposal in the Middle East lifted Oil prices, while the high US Treasury yields amid bets of upcoming Federal Reserve (Fed) rate hikes keep supporting the Greenback.
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.
Brent: Oil climbs on Middle East tensions – Deutsche Bank
Deutsche Bank’s Early Morning Reid highlights renewed upside in Brent Oil as US-Iran negotiations show little progress and Iran refuses to soften conditions on reopening the Strait of Hormuz.
Silver price today: Silver falls, according to FXStreet data
Silver prices (XAG/USD) fell on Monday, according to FXStreet data. Silver trades at $61.14 per troy ounce, down 4.91% from the $64.30 it cost on Friday.
US Dollar: Breakout risks versus fading outlook – Societe Generale
Societe Generale’s Kit Juckes argues that while the longer-term outlook for the Dollar is deteriorating due to US politics and changing global savings patterns, the short-term picture remains constructive.