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Euro remains depressed as Eurozone sentiment and trade data fail to inspire
The Euro (EUR) remains on the defensive against the US Dollar (USD) as investors brace for the first interest rate hike by the US Federal Reserve (Fed) after three years.
Euro: Downside pressure targets 1.1490 against US Dollar – UOB
UOB’s Quek Ser Leang highlights renewed EUR/USD weakness after a sharper-than-expected drop below 1.1565 to 1.1522. He sees scope for a further test of 1.1520 intraday, with 1.1490 as the next key support over the coming weeks.
India Trade Deficit Government: $26.86B (August) vs previous $31.98B
India Trade Deficit Government: $26.86B (August) vs previous $31.98B
Germany ZEW sentiment edges higher but misses expectations
Germany’s ZEW Survey Economic Sentiment rose slightly to 34.7 in September from 34.2 in August, although the reading falls short of market expectations of 37.
British Pound: Stronger growth offsets labour weakness – MUFG
MUFG’s Lee Hardman says the Pound is holding up better than expected despite the worsening energy price shock.
Eurozone ZEW Survey – Economic Sentiment came in at 25.8, below expectations (39.9) in September
Eurozone ZEW Survey – Economic Sentiment came in at 25.8, below expectations (39.9) in September
Eurozone Trade Balance n.s.a. came in at €14.2B, above expectations (€3.7B) in July
Eurozone Trade Balance n.s.a. came in at €14.2B, above expectations (€3.7B) in July
Eurozone Trade Balance s.a. climbed from previous €1.8B to €5B in July
Eurozone Trade Balance s.a. climbed from previous €1.8B to €5B in July
Germany ZEW Survey – Current Situation came in at -47.1, above expectations (-52.2) in September
Germany ZEW Survey – Current Situation came in at -47.1, above expectations (-52.2) in September
Germany ZEW Survey – Economic Sentiment came in at 34.7, below expectations (37) in September
Germany ZEW Survey – Economic Sentiment came in at 34.7, below expectations (37) in September
Australian Dollar holds gains as higher oil prices weigh on Japanese Yen
AUD/JPY gains ground for the second consecutive day, trading around 110.40 during European hours on Tuesday. The currency cross appreciates as the Japanese Yen (JPY) faces headwinds from rising global oil prices, which significantly inflate import costs for Japan's energy-dependent economy.
CEE FX: Higher rates seen cushioning currencies – ING
ING’s Frantisek Taborsky explains that a surge in energy prices, a jump in US 10-year yields to 5% and a stronger Dollar have hit CEE currencies and pushed local rates higher.
Canadian Dollar languishes near 0.8200 as Fed tightening bets buoy US DollarÂ
The Canadian Dollar (CAD) hovers near monthly lows against the US Dollar (USD) on Tuesday, as rising expectations that the Federal Reserve (Fed) will tighten its monetary policy on Wednesday underpin speculative demand for the Greenback.