Market News
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Euro: Recovery holds as currency softens – BNY
BNY’s Geoff Yu argues that the Eurozone recovery remains intact even as the Euro (EUR) weakens. Manufacturing PMIs and business surveys in Germany and across Europe point to strengthening demand, while fiscal stress and a softer European Central Bank (ECB) stance weigh on the currency.
Japanese Yen: Funding appeal eroded by BoJ hikes – Rabobank
Rabobank’s Senior FX Strategist Jane Foley reviews the sharp USD/JPY declines in July and September, initially driven by joint Ministry of Finance (MoF)–US Treasury intervention and later without official action. The report notes that the Bank of Japan’s gradual rate hikes are eroding the Japanese Yen’s appeal as a funding currency for carry trades, even though recent price action has reduced urgency around finding alternatives.
Hungarian Forint: HUF strength and euro adoption outlook – Societe Generale
Societe Generale notes EUR/HUF rebounded from its 50-day moving average after a downside surprise in Hungarian CPI. Inflation remains below the MNB target, with the stronger Forint helping to curb price pressures and keep underlying trends subdued.
Swedish Krona: Riksbank tightening supports SEK against US Dollar - BBH
Brown Brothers Harriman’s (BBH) Elias Haddad notes USD/SEK is firmer on broad US Dollar (USD) strength, while Sweden’s September Consumer Price Index (CPI) data were mixed.
Indian Rupee: Gradual tightening path after RBI hike – ING
ING’s Deepali Bhargava notes that the Reserve Bank of India delivered its first rate hike in four years, raising the policy Repo rate to 5.50% and shifting to calibrated tightening.
Swiss Franc: Range trading persists against US Dollar – UOB
United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann note that USD/CHF remains in a tight range in the short term, with intraday levels clustered around 0.8300. Their 1–3 week view maintains a broader consolidation band, while the 1–3 month outlook suggests the pair could continue rebounding but lacks momentum to revisit its July peak.
Chile Trade Balance came in at $2047M, above forecasts ($0M) in September
Chile Trade Balance came in at $2047M, above forecasts ($0M) in September
Chile Trade Balance came in at $2.047M, above forecasts ($0M) in September
Chile Trade Balance came in at $2.047M, above forecasts ($0M) in September
US Dollar: Assessing NFP release reliability – Standard Chartered
Standard Chartered economist Dan Pan analyses which US Nonfarm Payrolls (NFP) months provide the most reliable initial signals of labour-market conditions.
Euro extends losing streak against British Pound, hits 16-month low
EUR/GBP trims part of its intraday decline on Wednesday but remains on the back foot for the ninth consecutive day as concerns over France’s fiscal position weigh on the Euro (EUR).
Japanese Yen: Slightly weaker bias as fiscal risks grow – DBS
DBS Group Research economist Chang Wei Liang notes that the Japanese Yen (JPY) could trade slightly weaker as the government reportedly considers a second supplementary budget, with USD/JPY around mid-158.
Silver Price Forecasts: XAG/USD drifts toward $60 as precious metals struggle
Silver (XAG/USD) dives on Wednesday, nearing two-month lows around the $60.00 psychological area after rejection from levels near $62.00 on Tuesday.
Euro: Political risk weighs but downside seen limited – ABN AMRO
ABN AMRO strategist Georgette Boele notes that changes in interest rate spreads have encouraged speculative short Euro positions, while fiscal and political uncertainty in France and Spain has historically coincided with Euro (EUR) weakness versus the US Dollar (USD).