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RBA's Kent: Cash rate hikes are achieving their intended impact
Reserve Bank of Australia (RBA) Assistant Governor Chris Kent said on Thursday that interest rate hikes are producing the expected effect. Kent added that further rate increases possible if risks emerge.
Singapore Gross Domestic Product (YoY): 5.9% (2Q) vs 5.7%
Singapore Gross Domestic Product (YoY): 5.9% (2Q) vs 5.7%
Japan Producer Price Index (YoY) came in at 7.2%, below expectations (7.4%) in July
Japan Producer Price Index (YoY) came in at 7.2%, below expectations (7.4%) in July
Japan Producer Price Index (MoM) below forecasts (0.6%) in July: Actual (0.1%)
Japan Producer Price Index (MoM) below forecasts (0.6%) in July: Actual (0.1%)
United Kingdom RICS Housing Price Balance came in at -30%, above expectations (-31%) in July
United Kingdom RICS Housing Price Balance came in at -30%, above expectations (-31%) in July
The Japanese Yen gives back half of what Tokyo bought
The Dollar has spent Wednesday grinding higher against the Yen with no headline to carry it, trading near 159.50 after a low just beneath 158.60 and a gain of under a tenth of a percent.
Pound Sterling runs out of room at the July high
Sterling spent the London morning building a case for a break and the rest of the session dismantling it, trading near 1.3495 after a high just short of 1.3550 and a loss of not quite a tenth of a percent.
GBP/JPY Price Forecast: 50-day SMA caps sideways trading
The GBP/JPY holds firm on Wednesday at around 215.00, as neither buyers nor sellers are reluctant to open fresh directional bets amid fears of renewed intervention in the FX markets by US and Japanese authorities to propel the Yen.
Indonesia: BI succession supports Rupiah stability – DBS
DBS Group Research’s Radhika Rao reports that Indonesia’s onshore markets welcomed President Prabowo’s nomination of Deputy Governor Destry Damayanti as the next Bank Indonesia Governor.
Australian Dollar pulls back as inflation expectations loom
The Aussie Dollar ended Wednesday’s session with losses against the Greenback as US inflation data matched estimates, in both headline and core. Consequently, traders pushed back against rate hikes, though the AUD/USD faded the initial move and traded at 0.7061, down 0.07%.
Euro reverses from two-day high, fade US soft CPI move
The Euro reversed course after reaching a two-day high of 1.1563, following the release of a benign US inflation report for July, which triggered a repricing for a less “hawkish” Federal Reserve, throughout 2026.
Chinese Yuan: Credit softness may spur PBoC easing – Commerzbank
Commerzbank’s Charlie Lay and Dr. Henry Hao point out USD/CNY is stable around 6.75, with their model implying a slightly stronger PBoC fix.
Mexican Peso rallies to two-year high as soft CPI hits Fed bets
The Mexican Peso (MXN) appreciates on Wednesday against the US Dollar (USD) to levels last seen in May 2024 following a decline in US inflation, as markets expected, softer-than-expected, which trims bets of a rate hike by the Federal Reserve (Fed) in its next meeting.