Market News
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Canadian Dollar strengthens to 1.4000 against US Dollar after suspected Japanese intervention
USD/CAD extends its decline on Thursday, slipping to a six-week low as the US Dollar (USD) weakens across the board following a sharp rally in the Japanese Yen (JPY). At the time of writing, the pair trades around 1.3996, staying on the back foot for a third consecutive day.
Silver rises as softer US inflation weighs on US Dollar
Silver prices advance toward $58.80 per ounce on Thursday, gaining around 1.7% as softer United States inflation data and weaker-than-expected economic growth place pressure on the US Dollar.
Singapore: Fiscal and FX coordination on policy – DBS
DBS Group Research economist Chua Han Teng analyzes Singapore’s latest SGD900mn fiscal support package and the Monetary Authority of Singapore’s (MAS) calibrated tightening of the Singapore Dollar (SGD) Nominal Effective Exchange Rate (NEER) band.
NASDAQ 100 rallies on one earnings report, while Dow Jones Industrial Average barely moves
The rebound in United States equities on Thursday is real, and it is one name deep. The NASDAQ 100 (NDX) trades near 27,950 after a gain of almost 3%, having printed its lowest level in two months in the 27,200 area inside the opening minutes.
United States Dollar Index slumps as suspected Japanese intervention rattles markets
The US Dollar Index (DXY) tumbles on Thursday as a sharp surge in the Japanese Yen (JPY) fuels speculation that Japanese authorities intervened to support the currency. USD/JPY plunged nearly 480 pips, falling below the psychological 160 mark and dragging the Greenback lower across the board.
Malaysia: Balanced macro profile supports Ringgit – MUFG
MUFG notes Malaysia remains one of Asia’s stronger-performing economies, with above-trend growth, low inflation and robust external demand, especially in electronics.
British Pound surges on BoE hawkish hold, Yen intervention crushes USD
The Pound Sterling registers gains versus the US Dollar after the Bank of England decided to hold rates unchanged, in a 6-3 vote, while suspected intervention to propel the Japanese Yen weakened the Greenback against most G8 currencies. The GBP/USD trades at 1.3430, up 0.40%.
Euro rises as Eurozone growth outpaces forecasts
EUR/USD trades higher near the 1.1460 area on Thursday as stronger-than-expected European economic data and softer United States (US) growth figures place pressure on the US Dollar (USD).
United States 4-Week Bill Auction fell from previous 3.73% to 3.63%
United States 4-Week Bill Auction fell from previous 3.73% to 3.63%
Australian Dollar tumbles against Japanese Yen on suspected intervention
AUD/JPY tumbles on Thursday as a sudden surge in the Japanese Yen (JPY) sweeps across Yen crosses, fuelling speculation that Japanese authorities intervened to support the currency after USD/JPY hit a 40-year high earlier this month.
Bank of England: Tighter conditions support September hold – TD Securities
TD Securities strategists highlight that the Bank of England (BoE) kept Bank Rate at 3.75% with a 6-3 split, signalling slightly more hawkish rhetoric but continued comfort with existing tightening.
Australian Dollar rallies despite softer CPI as US Dollar tumbles after Fed, weaker data
AUD/USD trades around 0.7010 on Thursday at the time of writing, up 0.82% on the day as broad-based US Dollar (USD) weakness outweighs the negative impact of softer Australian inflation.
Natural Gas: Fragile supply risks keep prices elevated – Rabobank
Rabobank’s Florence Schmit highlights that TTF Natural Gas remains exposed to Strait of Hormuz disruptions and QatarEnergy’s extended force majeure.