Market News
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Chinese Yuan: Gradual appreciation bias with key levels against US Dollar – OCBC
OCBC’s Sim Moh Siong and Christopher Wong highlight that RMB and CNH remain supported by softer USD dynamics and exporter conversion, but the People’s Bank of China is signalling a preference for gradual gains via its fixing.
Singapore Dollar: Upside risk stays intact against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann maintain a cautious stance on USD/SGD after Friday’s drop to 1.2682 and close near 1.2700.
Swiss Franc eases as US Dollar stabilizes after last week’s sell-off
USD/CHF edges higher on Monday as the US Dollar (USD) steadies after last week’s sell-off sparked by the US Treasury’s announcement to increase longer-dated bond buybacks. Market attention has now shifted back to US-Iran tensions after Washington unveiled a fresh sanctions campaign against Tehran.
Euro stalls below recent highs against Pound Sterling as German surveys take center stage
The Euro (EUR) treads water against the Pound Sterling (GBP) on Monday, holding in the mid-0.8500s after struggling to sustain its push toward 0.8580 last week.
Japanese Yen: Focus shifts to BoJ path – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note that the Japanese Yen (JPY) is slightly softer versus the US Dollar (USD), with USD/JPY trading between 158.00 support and resistance in the upper‑159s.
British Pound holds firm as US sanctions on Iran loom
The Pound Sterling (GBP) holds firm against the US Dollar (USD) at around 1.3640 on Monday, with traders eyeing speeches by US Treasury Secretary Scott Bessent on Iran’s sanctions later in the day and by Federal Reserve (Fed) Chair Kevin Warsh at the Kansas City Fed Jackson Hole Symposium on Friday.
Canada: Growth rebound overshadowed by trade war – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad expects Canada’s Q2 Real GDP to rebound strongly, outpacing the Bank of Canada’s (BoC) projection, with domestic demand and exports driving gains.
New Zealand Dollar retreats from recent highs on weak Retail Sales
NZD/USD retreats to around 0.5960 on Monday at the time of writing, down 0.25% on the day, after approaching the 0.6000 level on Friday.
Australian Dollar pulls back near multi-month highs as traders await RBA Minutes
AUD/USD is pulling back to the 0.7150 region, consolidating just below its recent multi-month highs. Traders are largely focused on the Reserve Bank of Australia (RBA) Minutes due later in the Asian session.
United States: Spending and inflation outlook – Wells Fargo
Wells Fargo Economics, led by Tom Porcelli and colleagues, expects July consumer spending to rise modestly, with nominal Personal Income up 0.3% and spending up 0.2%. They highlight fading support from tax refunds, leaving demand more reliant on income growth.
Copper: AI-driven demand reshapes pricing – Societe Generale
Societe Generale’s Commodity Compass Analytics team, led by Michael Haigh and Jeremy Sellem, argues that Copper has been increasingly driven by AI-related demand, arbitrage flows and US trade policy since February 2025.
Japanese Yen slips as US Dollar stabilizes, US PCE in focus
USD/JPY edges higher on Monday as the US Dollar (USD) finds some stability following last week’s sharp volatility, with geopolitical developments back in focus as the United States prepares to widen secondary sanctions against Iran.
Canadian Dollar: Trade shock weighs against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note that the Canadian Dollar (CAD) is the main G10 underperformer after US/Canada trade talks collapsed. Ottawa’s pledge to respond to tariffs and provide domestic aid raises uncertainty for Canadian businesses.