Market News
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Brent: Supply stress drives cautious flows – BNY
BNY Mellon’s Geoff Yu highlights Brent crude breaking above $100/barrel, with institutional investors rebuilding exposure to energy stocks while retail investors take profits.
British Pound remains under pressure against Japanese Yen amid hawkish BoJ bets
The British Pound (GBP) trades 0.3% lower at around 207.80 against the Japanese Yen (JPY) during the European trading session on Wednesday.
Japanese Yen gains against US Dollar as markets brace for a more aggressive BoJ
USD/JPY declines 0.39% on Wednesday and trades around 153.40 at the time of writing. The Japanese Yen (JPY) benefits from renewed demand as investors increase their bets on further monetary tightening by the Bank of Japan (BoJ).
Gold loses momentum as US Dollar, yields rise after Treasury buyback announcement
Gold (XAU/USD) struggles to hold onto Wednesday’s gains after rebounding from a one-week low of $4,341 earlier in the day. A recovery in the US Dollar (USD) and a fresh rise in US Treasury yields weigh on the precious metal.
Swedish Krona: Riksbank seen keeping hike option – Commerzbank
Commerzbank’s Antje Praefcke argues that despite currently low Swedish inflation readings, the Riksbank is likely to maintain its guidance that the policy rate could rise by year-end.
Norges Bank: One more hike then gradual cuts – Nomura
Nomura’s analysts see Norges Bank delivering another rate hike in November as inflation remains sticky, before a 25 bp cut next year and further reductions beyond 2027 towards 3.50%.
Dollar debasement talk, Japanese Yen carry trade unwinding offset USD safe-haven status
The US Dollar (USD) is failing to capitalise on the risk-averse market this week, as tensions in the Gulf escalate, threatening to widen into a full regional war.
United States MBA Mortgage Applications declined to -2.7% in September 4 from previous 0.8%
United States MBA Mortgage Applications declined to -2.7% in September 4 from previous 0.8%
EUR/USD Price Forecast: 1.1686-1.1710 zone remains key hurdle
The Euro (EUR) gives back its early gains and flattens at around 1.1625 against the US Dollar (USD) during the European trading session on Wednesday. The major currency pair falls back as the US Dollar recovers its early losses.
Portugal Global Trade Balance declined to €-9.51B in July from previous €-9.441B
Portugal Global Trade Balance declined to €-9.51B in July from previous €-9.441B
Japanese Yen: Supported by policy shift expectations – MUFG
MUFG’s Lee Hardman notes that the Japanese Yen (JPY) has strengthened, driving USD/JPY back towards 153.00, as comments from US Treasury Secretary Scott Bessent reinforce expectations of policy changes in Japan.
Australian Dollar slips against Japanese Yen as BoJ rate hike bets grow
AUD/JPY declines 0.27% on Wednesday and trades around 110.80 at the time of writing.
Gold Price Forecast: XAU/USD bounces up to $4,400 with the bearish trend intact
Gold (XAU/USD) trims losses on Wednesday, with price action returning to the $4,400 area during the European morning session, after bouncing from $4,345 lows on Tuesday.