Market News
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United States ADP Employment Change 4-week average registered at 20K above expectations (0K) in August 29
United States ADP Employment Change 4-week average registered at 20K above expectations (0K) in August 29
Euro: Softer versus Dollar as ECB tightening meets French risks – MUFG
MUFG’s Lee Hardman reports the Euro (EUR) is trading on a softer footing against the US Dollar, with EUR/USD near the bottom of its 1.1400–1.1800 range.
Mexico Retail Sales (YoY) registered at 1.8%, below expectations (2.1%) in July
Mexico Retail Sales (YoY) registered at 1.8%, below expectations (2.1%) in July
Mexico Retail Sales (MoM) below expectations (0.2%) in July: Actual (-0.1%)
Mexico Retail Sales (MoM) below expectations (0.2%) in July: Actual (-0.1%)
EUR/GBP Price Forecast: 100-day SMA blocks recovery as momentum remains subdued
EUR/GBP edges higher on Tuesday as the British Pound (GBP) remains under pressure across the board, weighed by concerns over the UK’s deteriorating fiscal outlook and the Bank of England’s (BoE) reluctance to raise interest rates while several major central banks have moved toward tighter policy.
Swiss Franc rallies on risk appetite while SNB threatens with FX intervention
The Swiss Franc (CHF) extended its recovery against the US Dollar (USD) on Tuesday, favoured by lower Oil prices amid hopes of a new round of US-Iran negotiations, which has prompted the Swiss National Bank (SNB) to launch an intervention warning.
US Dollar: Modestly stronger into year-end – OCBC
OCBC strategists Sim Moh Siong and Christopher Wong highlight that the US Dollar (USD) stayed resilient despite improved risk appetite, supported by hawkish Federal Reserve (Fed) commentary that limited the drop in US front-end yields.
Hungarian Forint: Key 360 area supports consolidation against Euro – Societe Generale
Societe Generale analysts describe EUR/HUF as consolidating above the 360 area after an interim low near 348 in June. The pair is capped by the 200-day moving average at 370/371, with a breakout above this zone needed to confirm a larger up-move.
Gold consolidates as Iran diplomacy hopes clash with hawkish Fed expectations
Gold (XAU/USD) consolidates on Tuesday as traders weigh fresh Middle East headlines while the broader geopolitical backdrop remains tense. At the time of writing, XAU/USD trades around $4,328 after rebounding from an intraday low of $4,291 during European trading hours.
Japanese Yen: Overbought rally faces 158.40 cap – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note that USD/JPY remains supported after testing the 157.30 area, with short-term price action expected to stay within a 156.90–157.80 range.
Japanese Yen recovers against US Dollar as oil prices correct sharply
The Japanese Yen (JPY) claws back its early losses and turns slightly positive against the US Dollar (USD) during the European trading session on Thursday, with the USD/JPY pair dropping 0.2% to near 157.00.
Canadian Dollar hesitates as Oil falls amid Hormuz reopening talksÂ
The Canadian Dollar (CAD) trades practically flat against the US Dollar (USD) on Tuesday as the risk appetite triggered by Tehran’s proposal to reopen the Strait of Hormuz has offset the decline in Crude prices.
South African Rand: SARB hike and hawkish tone – Commerzbank
Commerzbank’s Volkmar Baur expects the South African Reserve Bank (SARB) to deliver a 25 basis point rate hike after surprising markets by holding rates in July.