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US Dollar: Fed hold and data support – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad expects a hawkish Federal Reserve (Fed) hold and a goldilocks-like United States (US) macro backdrop to keep the US Dollar (USD) supported in coming days.
WTI drops to near $82.50 as US, Iran pause strikes for potential diplomacy
West Texas Intermediate (WTI) oil price opened at a bearish gap, down by over 7%, trading around $82.50 per barrel during the Asian hours on Monday. Crude oil prices declined after the United States (US) and Iran paused strikes over the weekend, following two weeks of direct attacks.
Euro gains strongly against US Dollar on revival of risk-on sentiment
The Euro (EUR) trades 0.36% higher to near 1.1410 against the US Dollar (USD) during the European trading session on Monday. The major currency pair trades firmly as the revival of risk-on market sentiment has diminished the safe-haven appeal of the US Dollar.
Equities: Earnings and Fed keep risk balanced – Deutsche Bank
Deutsche Bank’s strategists note that global equities delivered a mixed performance, with the S&P 500 posting a second consecutive weekly decline even as semiconductor shares recovered. European and some Asian markets fared better, while US futures moved higher at the start of the week.
Oil: Mounting supply risks and price pressures – Commerzbank
Commerzbank’s Charlie Lay notes that Brent and West Texas Intermediate (WTI) have pulled back after sharp gains, but underlying risks to Oil remain elevated. Escalation in the Persian Gulf and potential closure of the Strait of Bab al-Mandab are seen as key threats to supply routes.
EUR/GBP Price Forecast: In a positive trend with bulls eyeing 0.8555 resistance
The Euro (EUR) has picked up towards the 0.8540 area against the British Pound (GBP) on Monday, after a mild pullback on Friday found support at 0.8530. The pair maintains the immediate bullish trend from mid-July lows at 0.8455, with bulls looking at three-week highs in the area of 0.8555.Â
Euro: September hike outlook offers support against US Dollar – UOB
UOB strategists highlight that EUR/USD slipped slightly to 1.1369 as comments from European Central Bank (ECB) Governing Council member Gediminas Simkus suggested a rate increase remains more likely than a hold.
Indian Rupee gains vertically as oil prices sink
The Indian Rupee (INR) extends its recovery against the US Dollar (USD) at the start of the Federal Reserve’s (Fed) monetary policy week.
Japanese Yen gains against US Dollar at the start of Fed-BoJ policy week
The Japanese Yen starts the week on a positive note against the US Dollar (USD), but is down against its other currency peers.
AUD/USD Price Forecast: Consolidates near 0.7000 as bulls await 38.2% Fibo. breakout
The AUD/USD pair struggles to capitalize on a modest bullish gap opening on Monday and oscillates in a narrow band around the 0.7000 psychological mark through the Asian session.
Gold extends range play below $4,100 as bulls keenly await Fed decision on Wednesday
Gold (XAU/USD) extends its consolidative price move through the first half of the European session on Monday and remains below the $4,100 mark as bulls seem hesitant ahead of the crucial FOMC meeting this week.
EUR/JPY Price Forecast: Holds gains around 186.50 within rising wedge
EUR/JPY gains ground after registering minor losses in the previous day, trading around 186.50 during the Asian hours on Monday. The currency cross is keeping a bullish near-term bias as it holds above both the nine-period and 50-period Exponential Moving Averages (EMAs).
Swiss Franc climbs as US Dollar falls on easing safe-haven demand
USD/CHF depreciates after five days of losses, trading around 0.8150 during the Asian hours on Monday.