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Italy HCOB Manufacturing PMI below expectations (51.5) in August: Actual (49.6)
Italy HCOB Manufacturing PMI below expectations (51.5) in August: Actual (49.6)
Euro: Proactive ECB seen as supportive – Commerzbank
Michael Pfister at Commerzbank notes that several central banks, including the European Central Bank (ECB), have already raised rates following the inflation shock linked to the Iran conflict.
NZD/USD Price Forecast: Flirts with ascending trend-line near 0.5900 as traders eye RBNZ
The NZD/USD pair attracts some sellers following a modest intraday uptick to the 0.5930 region and languishes near the lower end of its daily range during the early European session on Tuesday.
Switzerland SVME - Purchasing Managers' Index registered at 57.1 above expectations (53.5) in August
Switzerland SVME - Purchasing Managers' Index registered at 57.1 above expectations (53.5) in August
Japanese Yen: BoJ hike expectations shape FX – MUFG
Michael Wan at MUFG notes continued dispersion in Asia FX, with USD/JPY trading just below 160. NHK reports US officials urging Japan to raise interest rates, while markets already price a 92% chance of a September Bank of Japan (BoJ) hike.
AUD/USD Price Forecast: Rising 20-day EMA backs more upside
The Australian Dollar (AUD) trades marginally lower at around 0.7164 against the US Dollar (USD) during the European trading session on Tuesday.
Spain HCOB Manufacturing PMI registered at 49.5, below expectations (50.1) in August
Spain HCOB Manufacturing PMI registered at 49.5, below expectations (50.1) in August
Austria Unemployment Rate: 7.2% (August) vs 6.9%
Austria Unemployment Rate: 7.2% (August) vs 6.9%
Austria Unemployment: 311.4K (August) vs 298.9K
Austria Unemployment: 311.4K (August) vs 298.9K
Euro edges lower against British Pound as Germany’s Retail Sales fall more than expected in July
The EUR/GBP cross loses traction to near 0.8570 during the early European trading hours on Tuesday. The Euro (EUR) edges slightly lower following German Retail Sales data.
Equities: Geopolitics and yields pressure stocks - Deutsche Bank
Deutsche Bank’s Jim Reid notes that global equities ended August on a softer footing as escalating US-Iran tensions and a hawkish Jackson Hole speech from Fed Chair Warsh weighed on risk sentiment.
British Pound: Downside risk focuses on 1.3480 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note that GBP/USD remains in a short-term range after last week’s sharp drop, with intraday trade expected between 1.3535 and 1.3570.
Swiss Franc moves little following Real Retail Sales data
USD/CHF appreciates after registering losses in the previous day, trading around 0.8100 during the Asian hours on Tuesday. The pair remains steady despite stronger-than-expected Swiss economic data.