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Canada New Housing Price Index (MoM) below forecasts (0%) in July: Actual (-0.1%)
Canada New Housing Price Index (MoM) below forecasts (0%) in July: Actual (-0.1%)
United States: Long-end yield risks contained – ING
ING’s Padhraic Garvey analyses how the US Treasury’s decision to double buybacks in 10-30 year maturities affects long-end US Treasuries. He stresses that while the programme is sizeable and could be expanded again, it mainly mutes, rather than reverses, upward pressure on long yields.
British Pound gains as Japanese Yen struggles despite hawkish BoJ outlook
GBP/JPY edges higher on Thursday, reversing all the losses recorded on the previous day. The move is largely driven by broad Japanese Yen (JPY) weakness rather than any major positive development for the British Pound (GBP), with a sparse economic calendar offering little fresh impetus.
Riksbank: Early-2027 hike view – Nomura
Nomura’s European Economics team, led by Josie Anderson, George Buckley and Andrzej Szczepaniak, reviews the latest Riksbank decision to keep the policy rate at 1.75%.
Japanese Yen trims gains as downbeat foreign trade data offsets US Dollar’s weakness
The Japanese Yen (JPY) shows a moderate pullback on Friday, despite the broad-based US Dollar (USD) weakness, following the US Treasury’s plan to double buybacks of long-term Government debt.
Japanese Yen: Flows and trade leave Japanese Yen exposed – BNY
Geoff Yu at BNY Mellon highlights that foreign investors are accelerating Japanese Government Bond selling while Japanese investors increase purchases of overseas bonds and equities. This flow mix weakens support for the Japanese Yen and points to further depreciation.
Euro: Benefits from US Dollar weakness – DBS
Chang Wei Liang at DBS Group Research highlights that EUR/USD has rallied toward 1.17, with the Euro the main beneficiary of Dollar softness.
Australian Dollar: Softer jobs data keeps RBA sidelined – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad notes AUD/USD is holding gains on broad US Dollar weakness despite a soft July Australian labor report. The economy unexpectedly lost jobs, with rising unemployment and falling hours worked pointing to weaker labor demand.
1.1700: Euro hits three-month highs as US Bond buyback plan crushes the US Dollar
The Euro (EUR) extends gains against an ailing US Dollar (USD) on Thursday, as the US Treasury’s plan to boost buybacks of long-term Government Bonds sent the Greenback tumbling across the board.
Euro holds steady against British Pound as ECB, BoE rate hike bets offset each other
EUR/GBP trades around 0.8580 on Thursday at the time of writing, showing little change on the day.
United States: Slow growth but data understate jobs – Commerzbank
Commerzbank economist Bernd Weidensteiner analyzes recent U.S. employment trends, noting that Nonfarm Payroll growth has slowed sharply, with average monthly gains of just 32,000 over the past year.
Indian Rupee: RBI minutes temper rate-cut hopes – DBS
Radhika Rao at DBS Group Research highlights that Reserve Bank of India (RBI) minutes from the early-August meeting were more cautious than Governor Sanjay Malhotra’s public messaging.
Federal Reserve: AI, inflation risks and limited FX impact – MUFG
MUFG’s research team uses AI-driven textual analysis to judge the July FOMC minutes as slightly more hawkish, with broader support for a rate hike and concern over inflation expectations.