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BoE's Bailey defends central bank flexibility, warns of bond market pressures
Bank of England (BoE) Governor Andrew Bailey said on Friday that monetary policymakers have some discretion over how quickly they bring inflation back to target, while stressing that returning inflation to the target remains imperative.
Canadian Dollar: Data volatility guides Bank of Canada – Commerzbank
Commerzbank analysts Norman Liebke and Michael Pfister report that the Bank of Canada kept its policy rate at 2.25% but adopted a more hawkish tone as inflation risks rise from higher energy prices and trade tensions with the US.
Gold Price Forecast: XAU/USD recovery stalls below $4.500 awaiting US Nonfarm Payrolls
Gold (XAU/USD) trades flat at the $4,470 area on Friday, as the previous two days’ rebound from $4,280 failed to find acceptance above the $4,500 psychological area.
US Dollar Index: Two-way risks within bearish channel – OCBC
OCBC’s Christopher Wong notes that the Dollar Index (DXY) has eased alongside lower UST yields after Fed Governor Waller signalled a preference to keep rates unchanged in September if disinflation persists.
Silver price today: Silver falls, according to FXStreet data
Silver prices (XAG/USD) fell on Friday, according to FXStreet data. Silver trades at $66.67 per troy ounce, down 0.46% from the $66.98 it cost on Thursday.
Indian Rupee: Rate hike path supports currency – Societe Generale
Societe Generale strategists note that the Indian Rupee (INR) rallied to its strongest level against the US Dollar (USD) since late June, helped by active RBI intervention and sizeable FX mobilisation flows.
Experts agree: US-Iran tensions are far from over as Hormuz risks return
West Texas Intermediate (WTI), futures on NYMEX, drops to near $88.65 while struggling to move above the $90 mark during the European trading session on Friday.
Japanese Yen: Stronger yen driven by fundamentals – MUFG
MUFG’s Lee Hardman notes that the Japanese Yen (JPY) has strengthened sharply, pushing USD/JPY back towards the 155.00 support level that has held several times this year.
British Pound: Budget risks weigh on Sterling – Rabobank
Rabobank’s Senior FX Strategist Jane Foley highlights that the British Pound (GBP) is vulnerable as global bond market pressure focuses on high-debt countries facing elections or budget talks.
Eurozone Retail Sales decline unexpectedly 0.6% MoM in July
Eurozone Retail Sales contracted at a 0.6% pace Month-on-Month (MoM) in June, while they were anticipated to rise by 0.3%. June's data revised higher to 0.2% from -0.3%.
Greece Unemployment Rate (QoQ) dipped from previous 10.6%Â to 7.9% in 2Q
Greece Unemployment Rate (QoQ) dipped from previous 10.6%Â to 7.9% in 2Q
Eurozone Retail Sales (MoM) came in at -0.6%, below expectations (0.3%) in July
Eurozone Retail Sales (MoM) came in at -0.6%, below expectations (0.3%) in July
Eurozone Retail Sales (YoY) below expectations (1.1%) in July: Actual (0.6%)
Eurozone Retail Sales (YoY) below expectations (1.1%) in July: Actual (0.6%)