Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
GBP/JPY Price Forecast: Rebound holds above 200-day SMA
The British Pound retreats against the Japanese Yen, down about 0.24%, as the Yen is poised to end the week on a higher note. However, GBP/JPY is poised to finish the week with minimal gains, trading at 212.64.
Philippines: BSP policy outlook shifts – Standard Chartered
Standard Chartered’s Jonathan Koh and Edward Lee now expect Bangko Sentral ng Pilipinas (BSP) to keep its policy rate unchanged at the 27 August meeting, abandoning a previously projected hike.
Forecasting the upcoming week: US inflation takes center stage next week
The US Dollar Index (DXY) fell below the 100.00 region after sinking through Friday's session. July Nonfarm Payrolls (NFP) showed the US economy shedding 23K jobs against forecasts of an 80K gain, with June revised down to 20K, and Average Hourly Earnings slowing to 3.2% on the year.
Australia CFTC AUD NC Net Positions: $-33.2K vs $-40K
Australia CFTC AUD NC Net Positions: $-33.2K vs $-40K
Eurozone CFTC EUR NC Net Positions up to €-58.1K from previous €-72.4K
Eurozone CFTC EUR NC Net Positions up to €-58.1K from previous €-72.4K
Japan CFTC JPY NC Net Positions climbed from previous ¥-163.4K to ¥-45.5K
Japan CFTC JPY NC Net Positions climbed from previous ¥-163.4K to ¥-45.5K
United States CFTC Oil NC Net Positions dipped from previous 120.1KÂ to 112.4K
United States CFTC Oil NC Net Positions dipped from previous 120.1KÂ to 112.4K
United States CFTC S&P 500 NC Net Positions fell from previous $-17.2K to $-27.3K
United States CFTC S&P 500 NC Net Positions fell from previous $-17.2K to $-27.3K
United States CFTC Gold NC Net Positions: $197.6K vs $182.1K
United States CFTC Gold NC Net Positions: $197.6K vs $182.1K
United Kingdom CFTC GBP NC Net Positions rose from previous £-64.8K to £-57.8K
United Kingdom CFTC GBP NC Net Positions rose from previous £-64.8K to £-57.8K
US Treasury yields drop on soft NFP, Hormuz hopes ease Fed risks
US Treasury yields drop across the curve on Friday amid growing speculation that the Iran-Oman deal is about to be sealed, which has so far pushed energy prices lower, while investors also digest a weak Nonfarm Payrolls report in the US.
Indonesian Rupiah: Supportive domestic backdrop, capped gains – Commerzbank
Commerzbank’s FX analysts, including Charlie Lay and Moses Lim, note that USD/IDR slipped slightly but stayed below the key 18,000 level as softer global Oil prices and stronger Indonesia Q2 GDP supported the Rupiah.
Silver Price Forecast: XAG/USD clears 50-day SMA, eyes $65
Silver price surges nearly 3% as it clears the 50-day Simple Moving Average (SMA) at $62.13, and reclaims the $63.00 figure as it struggles to surpass key resistance seen at $63.28, the July 6 high.