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Japanese Yen: Market needs more than BoJ pricing – OCBC
OCBC FX Strategist Sim Moh Siong and Christopher Wong highlight that the Japanese Yen (JPY) has already benefited from aggressive market pricing for Bank of Japan (BoJ) tightening, with an 85% chance of a September hike implied.
British Pound: Downside risks with 1.3480 in sight against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann report that GBP/USD fell sharply to 1.3527 and closed at 1.3540, contradicting expectations for range trading. Intraday, they see limited further losses within 1.3520–1.3570 due to oversold conditions.
British Pound holds losses amid geopolitical tensions, Fed tightening hopes
The British Pound (GBP) edges up on Monday but remains close to two-week lows against the US Dollar (USD).
Euro: Warsh speech weighs on EUR against US Dollar – Danske Bank
Danske Research Team notes that Federal Reserve (Fed) Chair Kevin Warsh’s hawkish Jackson Hole speech pushed EUR/USD lower, with markets now pricing September as nearly a coin-flip for a rate hike.
Euro falls against Japanese Yen ahead of German inflation data
The Euro (EUR) is down 0.1% to near 185.20 against the Japanese Yen (JPY) during the European trading session on Monday. The cross faces pressure as the Japanese Yen (JPY) outperforms its peers amid fears that the Bak of Japan (BoJ) will raise interest rates in the September policy meeting.
South Africa Private Sector Credit declined to 7.41% in July from previous 7.8%
South Africa Private Sector Credit declined to 7.41% in July from previous 7.8%
South Africa M3 Money Supply (YoY) dipped from previous 9.31%Â to 8.57% in July
South Africa M3 Money Supply (YoY) dipped from previous 9.31%Â to 8.57% in July
Denmark Unemployment Rate remains unchanged at 2.7% in July
Denmark Unemployment Rate remains unchanged at 2.7% in July
EUR/USD Price Forecast: Gains ground to near 1.1600, bullish vibe prevails above 100-day SMA
The EUR/USD pair trades in positive territory around 1.1590 during the early European trading hours on Monday. However, the potential upside for the major pair might be limited as traders ramped up bets on a rate hike after hawkish remarks by Federal Reserve (Fed) Chair Kevin Warsh.Â
USD/JPY Price Forecast: Retreats from one-month top as bullish bias remains below 160.00
The USD/JPY pair retreats from the 160.20 area, or a one-month high retested earlier this Monday, and, for now, seems to have snapped a five-day winning streak. Spot prices slide to the 159.80-159.75 region during the Asian session, though the downside potential seems limited.
Iran’s IRGC claims it shot down US drone, attacked UAE air base
Iran’s Islamic Revolutionary Guard Corps (IRGC) shot down a US MQ-9 drone over the Strait of Hormuz using air defense missiles, causing it to crash into Gulf waters, Mehr news agency reported on Monday.
Japan Annualized Housing Starts dipped from previous 0.786MÂ to 0.774M in July
Japan Annualized Housing Starts dipped from previous 0.786MÂ to 0.774M in July
Japan Annualized Housing Starts: 0.736M (July) vs previous 0.786M
Japan Annualized Housing Starts: 0.736M (July) vs previous 0.786M