Market News
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Japanese Yen: Yen vulnerable after BoJ communication – MUFG
MUFG’s Derek Halpenny notes that the Bank of Japan’s 25bp hike to 1.25% fell short of hawkish market pricing, triggering an initial Yen sell-off as expectations for larger moves proved overdone.
Swiss Franc: Consolidation holds below 0.8300 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang notes USD/CHF remains in a consolidation phase after a sharp rally, with intraday trading expected between 0.8225 and 0.8265.
ECB’s Lagarde: We'll decide on rates meeting by meeting
European Central Bank (ECB) President Christine Lagarde said during the European trading session on Friday that the decision on interest rates by the central bank will be meeting by meeting.
Euro flattens against US Dollar as traders look beyond ECB-Fed hawkish decisions
The Euro (EUR) trades in a tight range at around 1.1485 against the US Dollar (USD) during the European trading session on Friday.
Eurozone Current Account s.a below expectations (€30.7B) in July: Actual (€27.6B)
Eurozone Current Account s.a below expectations (€30.7B) in July: Actual (€27.6B)
Eurozone Current Account n.s.a declined to €36.5B in July from previous €46.9B
Eurozone Current Account n.s.a declined to €36.5B in July from previous €46.9B
Czech Koruna: CNB pause before potential November hike – ING
ING’s Frantisek Taborsky notes that the Czech National Bank (CNB) kept its policy rate at 3.75% with a dovish tone versus market pricing, but ING economists now expect a hike in November due to higher inflation forecasts and elevated global energy prices.
Euro extends gains, nearing 181.00 against Japanese Yen despite Ueda's hawkish comments
The Euro (EUR) extends gains against the Japanese Yen (JPY) on Friday, after some hesitation, amid the Bank of Japan (BoJ) Governor Ueda's hawkish rhetoric at the post-meeting press conference.
GBP/JPY Price Forecast: Rallies to two-week top, above 210.50 amid post-BoJ JPY selloff
The GBP/JPY cross builds on its strong intraday rally and climbs to a nearly two-week top, above mid-210.00s during the early European session on Friday. Spot prices now seem poised to register gains for the first time in three weeks.
Dow Jones futures rise as 10-year US yield slides, tech rally resumes
Dow Jones futures gain by 0.25% to trade near 51,940 during European hours on Friday. Meanwhile, S&P 500 futures advance by 0.34% to trade around 7,670, while Nasdaq 100 futures rise by 0.64% to trade near 29,630.
Equities: Global rally extends with tech leadership – Deutsche Bank
Deutsche Bank highlights a broad-based rebound in global equities following a drop in Oil prices and supportive US data. The S&P 500 and NASDAQ led gains in US stocks, while the STOXX 600 advanced in Europe and major Asian indices, including the Nikkei and KOSPI, moved higher.
New Zealand Dollar declines as US Dollar gains on hawkish Fed outlook
NZD/USD depreciates after posting gains the previous day, trading around 0.5720 during the early European hours on Friday. The pair loses ground as the US Dollar (USD) recovers its daily losses due to hawkish comments from Federal Reserve Chair Kevin Warsh.
Euro: Dollar weakness delayed as Fed stays hawkish – Commerzbank
Commerzbank’s Volkmar Baur notes that EUR/USD stabilized after the Federal Reserve’s hawkish surprise, with markets now fully pricing another Fed rate hike in December and no cuts until late next year.