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Japan CFTC JPY NC Net Positions: ¥-152.1K vs previous ¥-122.7K
Japan CFTC JPY NC Net Positions: ¥-152.1K vs previous ¥-122.7K
NZD/USD Price Forecast: Kiwi tests 0.5800 as bullish momentum fades
The New Zealand Dollar gains over 0.30% against the US Dollar on Friday. The pair is poised to test key resistance levels with the 50-day Simple Moving Average (SMA) at 0.5793, slightly below the 0.5800 figure.
Thai Baht: Oil shock and dovish BoT keep THB pressured against US Dollar – OCBC
OCBC’s Sim Moh Siong and Christopher Wong note that the Thai Baht (THB) is trading near its weakest level in more than a year against the US Dollar (USD), as volatile oil prices, a firmer USD and higher US yields weigh on the currency.
Euro falls even amid strong Eurozone PMIs
EUR/USD trades lower near the 1.1370 area on Friday, struggling despite stronger-than-expected Eurozone business-activity figures. The US Dollar Index (DXY) remains firmer near 101.50, offering limited support to the pair.
Indonesian Rupiah: BI pause seen as hawkish hold – UOB
UOB Global Economics & Markets Research notes that Bank Indonesia kept its policy rate at 5.75%, opting to let earlier tightening filter through.
Singapore Dollar: Hawkish MAS stance supports SGD – MUFG
MUFG’s Lloyd Chan expects MAS to keep policy unchanged at the July meeting while maintaining a tightening bias, distinguishing between energy-driven and domestically generated inflation. Strong Singapore growth and a positive output gap justify tight settings.
Equities: Hyperscaler stress and chip volatility – Commerzbank
Commerzbank’s Marco Stoeckle argues that the AI trade is at a crossroads, with ‘Mag 7’ euphoria fading and hyperscalers facing cash flow and leverage concerns. In contrast, semiconductor and memory stocks, tracked by SOX and KOSPI, saw hyperbolic gains before sharp drawdowns.
Euro: Choppy range view holds against US Dollar – Rabobank
Rabobank's Senior FX Strategist Jane Foley describes EUR/USD as wary after the July European Central Bank (ECB) meeting. Foley notes that the Euro (EUR) failed to gain support despite a hawkish ECB tone, while the Dollar benefits from safe haven demand and Federal Reserve (Fed) expectations.
British Pound rises as Oil slide softens USD, Fed hike bets increase
The Pound Sterling advances by some 0.20% on Friday as Oil prices tumble, weighing on the US Dollar, while the US-Iran conflict signals a further escalation, which market participants ignored. Despite registering daily gains, the GBP/USD is poised to finish the week with losses of nearly 0.70%.
British Pound: Strong UK data fail to lift GBP against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret report the British Pound (GBP) is slightly higher versus the US Dollar (USD) but lagging most G10 peers.
Japanese Yen stays under pressure as resilient US economy supports the Dollar
USD/JPY edges lower on Friday, trading around 163.70, down 0.09% on the day at the time of writing, after hitting a fresh near 40-year high on Thursday.
Singapore Dollar: MAS stance supports relative resilience – MUFG
Lloyd Chan at MUFG highlights that Singapore’s June inflation data stayed benign, with modest upticks in headline and core CPI. MAS is expected to keep policy unchanged in July but retain a tightening bias.
British Pound: Strong PMIs and retail rebound in focus – TD Securities
TD Securities notes that the UK Composite PMI climbed back into expansion at 52.1 in July, led by Manufacturing strength and a Services PMI recovery to 51.8. Input cost inflation eased and business confidence hit its highest since February.