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Chinese Yuan: Trade risks limit gains against US Dollar – OCBC
OCBC’s Sim Moh Siong and Christopher Wong note that reports of potential US tariffs on Chinese goods and the PBoC’s resistance to rapid Renminbi (RMB) gains are likely to limit further downside in USD/CNH.
Singapore Dollar: Upside momentum eases against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note that USD/SGD remains under mild downward pressure but short-term momentum is flat, keeping the pair in a tight intraday band around 1.2700.
USD/CAD Price Forecast: Bearish indicators keep the path tilted lower
USD/CAD edges lower on Tuesday, with the Canadian Dollar (CAD) drawing support from a weaker US Dollar (USD) as traders also assess the latest tit-for-tat tariff measures between the United States (US) and Canada.
Euro remains flat with Sterling despite upbeat German data
EUR/GBP traded around 0.8560 on Tuesday, little changed, as a run of stronger German data failed to give the Euro (EUR) a clear lift against a resilient Pound. The pair remains pinned near its 20 and 100-period Simple Moving Averages (SMA), with neither side able to force a break.
Japanese Yen remains vulnerable despite softer Greenback
USD/JPY extends its sideways movement below the 160.00 mark on Tuesday, holding modest gains despite a softer US Dollar (USD). The weaker Greenback has failed to lift the Japanese Yen (JPY), which is underperforming its major peers. At the time of writing, the pair trades around 159.30.
United States 2-Year Note Auction dipped from previous 4.315%Â to 4.204%
United States 2-Year Note Auction dipped from previous 4.315%Â to 4.204%
Germany: Political risks cloud reform outlook – ING
ING’s Carsten Brzeski highlights how upcoming state elections in Saxony-Anhalt, Mecklenburg-Vorpommern and Berlin could reshape German politics and indirectly affect the economy.
Mexico: Alignment for certainty in USMCA – Societe Generale
Societe Generale’s Dev Ashish argues that Mexico could benefit from tensions between the US and Canada, but warns that uncertainty around USMCA may limit the upside.
United Kingdom: Resilient growth versus fiscal strain – Rabobank
Rabobank's Senior FX Strategist Jane Foley highlights that recent UK data, including Q2 Gross Domestic Product (GDP), real output per head and the August composite Purchasing Managers' Index (PMI), point to resilient growth and improved consumer confidence.
Canadian Dollar faces double trouble from Oil slump, US tariffs
USD/CAD trades around 1.3835 on Tuesday at the time of writing, down a modest 0.07% on the day. The pair lacks a clear direction as both the US Dollar (USD) and the Canadian Dollar (CAD) face headwinds.
Germany: Business climate brightens – Commerzbank
Commerzbank’s Dr. Ralph Solveen notes that the German Ifo Business Climate Index rose from 86.7 to 88.8 in August, with both current conditions and expectations improving. He highlights stronger foreign demand, rising government spending and better sentiment as factors supporting growth.
British Pound holds near six-month high as Hormuz hopes lift sentiment
The Pound Sterling (GBP) consolidates near a six-month high of 1.3675 on Tuesday as Middle East headlines improve risk appetite, while investors await the release of key US economic data and the speech by Federal Reserve (Fed) Chair Kevin Warsh at Jackson Hole.
Eurozone: AfD surge raises policy uncertainty – ING
Carsten Brzeski of ING underscores that the AfD’s rise to Germany’s largest party in polls introduces significant uncertainty for Eurozone policy.