Market News
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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.
The Dollar Index takes its orders from the Treasury
A currency whose central bank has held five times, prices no cut this year and still carries an increase by December should not be sitting at the bottom of its three-month range.
The Treasury bids and offers the Dow Jones Industrial Average
The same department that spent the morning telling the bond market it has roughly 950 billion Dollars available to hold long yields down will spend the afternoon announcing sanctions designed to tighten the oil chokepoint that drove those yields up.
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.
WTI Price Forecast: 100-day SMA caps upside near $85
West Texas Intermediate (WTI) Oil trades on the back foot on Monday after gaining more than 5% last week. The pullback comes even as the broader backdrop remains largely unchanged, with Middle East tensions elevated and shipping through the Strait of Hormuz still heavily restricted.
British Pound: Sentiment supports further gains against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret report that the British Pound (GBP) is flat versus the Dollar but outperforming G10 peers despite broad USD strength. With data light, attention turns to PM Burnham’s visit to Kiev and the October 28 budget.
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.