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British Pound gains capped as fiscal, geopolitical risks persist
GBP/USD gains after two days of losses, trading around 1.3500 during the European hours on Thursday. The currency pair experiences an upward push as a sharp rally in the Japanese Yen (JPY) weighed heavily on the US Dollar (USD).
BoJ mulls hiking interest rates to 1.25% in September meeting – Bloomberg
According to a report from Bloomberg, the Bank of Japan (BoJ) is leaning toward raising its benchmark interest rate by a quarter point in the two-day meeting ending on September 18 in response to upward price risks.
British Pound: Downside seen limited near 1.3465 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note GBP/USD extended its decline to 1.3475 before rebounding, closing at 1.3485. Intraday bias remains lower, but any weakness is seen limited to a test of 1.3465, with 1.3510 marking a shift back to range trading.
Germany HCOB Services PMI registered at 49.7 above expectations (48.5) in August
Germany HCOB Services PMI registered at 49.7 above expectations (48.5) in August
Germany HCOB Composite PMI registered at 51.8 above expectations (51) in August
Germany HCOB Composite PMI registered at 51.8 above expectations (51) in August
France HCOB Composite PMI below forecasts (48.8) in August: Actual (48.5)
France HCOB Composite PMI below forecasts (48.8) in August: Actual (48.5)
France HCOB Services PMI came in at 48, below expectations (48.4) in August
France HCOB Services PMI came in at 48, below expectations (48.4) in August
Italy HCOB Services PMI registered at 55.2 above expectations (53.3) in August
Italy HCOB Services PMI registered at 55.2 above expectations (53.3) in August
Euro: Trading near 1.16 against US Dollar as yields rise – Danske Bank
Danske Research Team reports that EUR/USD is around the 1.16 level while European government bond yields continue to climb and US yields show a mixed pattern.
USD/CAD Price Forecast: Falls to near 1.3850 after breaking below nine-day EMA
USD/CAD extends its losses for the second consecutive day. trading around 1.3820 during the Asian hours on Thursday. The technical analysis of the daily chart indicates the pair is positioned within the descending channel pattern, signalling a bearish bias.
Equities: Stabilise with lower yields – Deutsche Bank
Deutsche Bank's Jim Reid notes that US equities stabilised after three consecutive declines, with the S&P 500 gaining 0.46% as strength in the Magnificent Seven, particularly Nvidia and Meta, supported the market.
Swiss Franc bounces up from monthly lows as GDP, inflation data beat expectations
The Swiss Franc (CHF) accelerated its recovery against the US Dollar (USD) on Wednesday’s early European session, as Swiss inflation and economic growth data beat expectations.
Spain HCOB Services PMI registered at 57.8, below expectations (59) in August
Spain HCOB Services PMI registered at 57.8, below expectations (59) in August