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Swiss Franc struggles even as US Dollar gives back CPI-led gains
USD/CHF holds onto gains on Friday even as the US Dollar (USD) turns lower following the release of the latest United States (US) Consumer Price Index (CPI) report, which strengthened expectations that the Federal Reserve (Fed) could raise interest rates next week.
India: Inflation pressures point to tighter bias – DBS
DBS Group Research expects India’s inflation to accelerate to 4.9% year-on-year, with food and energy costs driving a gradual broadening of price pressures.
Canadian Dollar slides with Oil prices, US CPI fails to keep US Dollar higher
USD/CAD rises 0.27% on Friday and trades around 1.3870 at the time of writing, after reaching a daily high of 1.3882 in the immediate reaction to the release of United States (US) inflation data.
United Kingdom: Growth outlook strengthens with AI-driven services – Deutsche Bank
Deutsche Bank’s Chief UK Economist Sanjay Raja highlights stronger-than-expected UK GDP data, with July output rising 0.4% month-on-month and broad-based gains across services, production and construction.
US UoM Consumer Sentiment Index is seen at 47.8 in September
American consumer confidence is expected to lose some traction in September, as households have been growing more pessimistic about current conditions and the broader economic outlook, according to preliminary data from the University of Michigan.
United States Michigan Consumer Expectations Index fell from previous 51.5 to 45.8 in September
United States Michigan Consumer Expectations Index fell from previous 51.5 to 45.8 in September
United States Michigan Consumer Sentiment Index below expectations (51) in September: Actual (47.8)
United States Michigan Consumer Sentiment Index below expectations (51) in September: Actual (47.8)
United States UoM 5-year Consumer Inflation Expectation up to 3.4% in September from previous 3.3%
United States UoM 5-year Consumer Inflation Expectation up to 3.4% in September from previous 3.3%
United States UoM 1-year Consumer Inflation Expectations increased to 4.6% in September from previous 4%
United States UoM 1-year Consumer Inflation Expectations increased to 4.6% in September from previous 4%
Polish Zloty: Dovish stance leaves PLN vulnerable against Euro – ING
ING’s Frantisek Taborsky notes that the National Bank of Poland maintained a dovish stance, signalling no need to adjust rates potentially until mid-next year despite rising inflation.
European Central Bank: Hawkish rate path supports Euro – UOB
UOB economist Lee Sue Ann notes that the European Central Bank (ECB) delivered a widely expected 25 bps hike but signalled a more hawkish stance as inflation risks from the Middle East-driven energy shock remain elevated.
Bank of Japan: Hawkish hike prospects grow – DBS
DBS Group Research analysts Taimur Baig and Chang Wei Liang expect the Bank of Japan (BoJ) to hike rates by 25 bps at its September 17–18 meeting, citing solid Gross Domestic Product (GDP) growth, stronger wages and inflation near the 2% target.
Japanese Yen strengthens as US inflation fails to sustain Dollar rebound
USD/JPY falls 0.54% on Friday and trades around 153.60 at the time of writing.