Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
New Zealand Dollar climbs to highest since June as US Dollar weakens
NZD/USD extends its advance on Friday and trades around 0.5980 at the time of writing, up 0.62% on the day. The pair reached its highest level since early June and is heading for a solid weekly performance, mainly supported by persistent weakness in the US Dollar (USD).
United Kingdom: Burnham sentiment bounce â Deutsche Bank
Deutsche Bank strategists highlight a sharp improvement in sentiment towards Prime Minister Burnham and Labour.
Breaking: S&P Global Composite PMI is seen at 56 in August
US business activity is predicted to have gained momentum in August, according to the flash reading of S&P Globalâs Composite PMI, which ticked up to 56 from 54.5 in July.
United States: Yields risk renewed surge â Rabobank
Rabobank's Senior US Strategist Philip Marey discusses United States (US) Treasuries, noting that the Treasury Departmentâs surprise move to boost buybacks of longer-term bonds has only briefly interrupted rising yields.
1.3670: British Pound hits six-month highs as UK PMI beats expectations
The British Pound (GBP) rallied to fresh six-month highs against the US Dollar (USD) on Friday, boosted by stronger-than-expected UK business activity data, while the US Dollar remains depressed following the US Treasuryâs plan to boost bond buybacks.
Swedish Krona: Riksbank keeps tightening option open â Commerzbank
Commerzbankâs Antje Praefcke reports that the Riksbank left its policy rate at 1.75% and maintained a restrictive stance, still seeing a hike later this year as likely.
ECBâs KazÄks: Central bank is well placed to act if needed to get inflation to 2%
European Central Bank (ECB) Governing Council member MÄrtiĆĆĄ KazÄks said during the European trading session on Friday that the central bank wonât hesitate to act if needed to bring Eurozone inflationary pressures down to the 2% target.
Japanese Yen: Weakness offsets intervention impact â MUFG
MUFG's Michael Wan notes that US longer-end yields have returned close to pre-buyback levels, with the 10-year at 4.7% and 30-year at 5.24%, weighing on risk assets.
China FDI - Foreign Direct Investment (YTD) (YoY) declined to -6.2% in July from previous -5%
China FDI - Foreign Direct Investment (YTD) (YoY) declined to -6.2% in July from previous -5%
Belgium Consumer Confidence Index down to -7 in August from previous -5
Belgium Consumer Confidence Index down to -7 in August from previous -5
Euro steadies against British Pound as strong PMIs offer support on both sides
EUR/GBP trades around 0.8570 on Friday at the time of writing, virtually unchanged on the day.
Japanese Yen sticks to gains amid hawkish BoJ bets as USD stays weak on Fed expectations
The USD/JPY pair struggles to capitalize on the previous day's recovery from the 158.00 mark, or a one-and-a-half-week low, and meets with fresh supply on Friday.
Federal Reserve: Backstop doubts and high intervention bar â BNY
BNYâs David Tam stresses that while the Federal Reserve retains legal capacity to support corporate credit, the current Warsh Fed is unlikely to repeat Covidâera interventions.