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US Dollar: Supported but capped by softer data – OCBC
OCBC’s Sim Moh Siong and Christopher Wong note that lower US Treasury volatility, if sustained, could help high-beta currencies and EM carry trades, even as the Dollar stays supported. They highlight solid 10-year and 30-year auctions and a recent decline in the MOVE index.
Euro advances against Canadian Dollar as French bond yields, oil prices ease
EUR/CAD halts its four-day losing streak, trading around 1.5960 during early European hours on Friday. The currency cross gained momentum as the Euro (EUR) received support following a pullback in France's government bond yields.
USD/JPY Price Forecast: Wavering around 158.00 with 200-day SMA holding bullsÂ
The US Dollar (USD) ticks up against the Japanese Yen (JPY) on Friday but remains trapped in a tight range, with downside attempts contained above the 157.50 area and the 200-day SMA at 158.54, which holds bulls for now.
Equities: AI concerns pressure stocks as futures rise – Deutsche Bank
Deutsche Bank strategists report that the S&P 500 fell for a second day, dragged by the Magnificent 7 and chip stocks after an FT story suggested OpenAI’s annualised revenue is nearer $50bn than $70bn.
Turkey Industrial Production (YoY) came in at -1.9% below forecasts (0%) in August
Turkey Industrial Production (YoY) came in at -1.9% below forecasts (0%) in August
Slovakia Industrial Output (YoY) down to -0.2% in August from previous 2.4%
Slovakia Industrial Output (YoY) down to -0.2% in August from previous 2.4%
Austria Industrial Production (YoY) up to -0.5% in August from previous -1.1%
Austria Industrial Production (YoY) up to -0.5% in August from previous -1.1%
Canadian Dollar gathers strength ahead of employment report
The USD/CAD pair declines to around 1.4220 during the early European trading hours on Friday. The Canadian Dollar (CAD) strengthens against the US Dollar (USD) as the gap between US and Canadian yields narrowed from the historically wide levels seen earlier in ‌the week.
Forex Today: US Dollar retreats alongside bond yields as mood improves
Here is what you need to know on Friday, October 9:
AUD/USD Price Forecast: Outperforms on cheerful market mood
The Australian Dollar (AUD) outperforms its major currency peers on Friday, trading 0.35% higher at around 0.6980 against the US Dollar (USD) during the European session. The Australian currency capitalizes on upbeat market mood, driven by a steep correction in United States (US) Treasury Yields.
Brent: Crude eases from spike on Iran comments – Danske Bank
Danske Research Team notes Brent crude briefly surged above USD 105 per barrel to its highest level in nearly a month, driven by reduced Strait of Hormuz traffic and hurricane-related supply concerns.
Indonesian Rupiah strengthens as Retail Sales expand in August
USD/IDR loses ground after two days of gains, trading around 17, 910 during Asian hours on Friday. The Indonesian Rupiah (IDR) remains stronger following the release of domestic Retail Sales data.
British Pound: Resilient growth supports more BoE hikes - Commerzbank
Volkmar Baur at Commerzbank highlights the UK economy’s resilient growth, with upward revisions to GDP and solid monthly data. With inflation still sticky and core inflation at 2.6%, he now expects the Bank of England to hike rates in November and again in February to 4.25%.