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Euro remains near seven-week highs after downwardly revised Eurozone Manufacturing PMI
The Euro (EUR) posts moderate losses against the US Dollar (USD) on Monday, trading at 1.1525 at the time of writing, but standing close to the seven-week highs, at 1.1556 hit earlier on the day.
Euro: Fed uncertainty limits gains against US Dollar – ING
Chris Turner at ING argues EUR/USD should be performing better given solid Eurozone data, lower Oil prices and Japanese US Dollar (USD) selling, but notes possible US activity in EUR/JPY as a short-term drag.
United Kingdom S&P Global Manufacturing PMI came in at 51.9, below expectations (52.8) in July
United Kingdom S&P Global Manufacturing PMI came in at 51.9, below expectations (52.8) in July
Equities: AI reassessment shakes global markets – Deutsche Bank
Deutsche Bank strategists highlight a sharp reassessment of the AI (Artificial intelligence) trade with semiconductor and Korean equities suffering steep monthly losses despite strong YTD gains. European stocks outperformed as sector rotation and solid Eurozone growth supported broader indices.
Japanese Yen: Joint intervention reshapes FX dynamics – Commerzbank
Commerzbank analyst Michael Pfister examines recent joint US–Japan intervention to support the Japanese Yen. He notes confirmation that US authorities helped Japan and that further actions are possible, but constrained by IMF rules.
Japanese Yen outperforms its peers amid speculation of fresh US-Japan intervention
The Japanese Yen (JPY) trades sharply higher against its major currency peers during the European trading session on Monday.
Eurozone HCOB Manufacturing PMI below expectations (52) in July: Actual (51.9)
Eurozone HCOB Manufacturing PMI below expectations (52) in July: Actual (51.9)
Greece S&P Global Manufacturing PMI increased to 54.3 in July from previous 53.8
Greece S&P Global Manufacturing PMI increased to 54.3 in July from previous 53.8
Germany HCOB Manufacturing PMI meets forecasts (52.2) in July
Germany HCOB Manufacturing PMI meets forecasts (52.2) in July
France HCOB Manufacturing PMI came in at 49.8, below expectations (50) in July
France HCOB Manufacturing PMI came in at 49.8, below expectations (50) in July
British Pound: Rally may stall near 1.3555 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang highlights GBP/USD’s volatile session, with a spike from 1.3401 to 1.3481 and scope for further gains toward 1.3520, though overbought conditions may cap upside.
Italy HCOB Manufacturing PMI below forecasts (52.5) in July: Actual (51.3)
Italy HCOB Manufacturing PMI below forecasts (52.5) in July: Actual (51.3)
Iran's Baghaei: No talks with US currently regarding Hormuz
Remarks from Iran's foreign ministry spokesperson, Esmail Baghaei, released during the European trading session on Monday, indicate that Tehran is in no discussions with the United States (US) regarding the reopening of the Strait of Hormuz, a critical chokepoint for almost 20% of global energy supp