Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
Dow Jones futures steady ahead of US Retail Sales data
Dow Jones futures remain subdued around 53,910 during European hours on Friday. Meanwhile, S&P 500 futures move little, hovering around 7,820, and Nasdaq 100 futures inch lower by 0.09%, trading near 30,160.
British Pound: Locked in tight ranges against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann report GBP/USD price action remains confined, with intraday moves seen between 1.3475 and 1.3515 as momentum has faded.
Euro: Showing some undervaluation against US Dollar – ING
ING FX Strategist Francesco Pesole highlights that EUR/USD appears modestly undervalued, with short-term fair value estimated around 1.160–1.1650 based on swap spreads.
Equities: US stock rally broadens as S&P 500 hits new high – Deutsche Bank
Deutsche Bank strategists report that United States (US) equities, led by the S&P 500, have reached new record highs as softer inflation data and lower Oil prices reinforce expectations that the Fed can stay on hold.
Canadian Dollar gathers strength on easing Fed rate hike bets
The USD/CAD pair attracts some sellers to around 1.3910 during the early European trading hours on Friday. The US Dollar (USD) weakens against the Canadian Dollar (CAD) as cooled US inflation data have tempered aggressive Federal Reserve (Fed) rate-hike bets.
France Consumer Price Index (EU norm) (MoM) in line with forecasts (0.6%) in July
France Consumer Price Index (EU norm) (MoM) in line with forecasts (0.6%) in July
France Inflation ex-tobacco (MoM) rose from previous -0.3%Â to 0.6% in July
France Inflation ex-tobacco (MoM) rose from previous -0.3%Â to 0.6% in July
France Consumer Price Index (EU norm) (YoY) meets forecasts (2.4%) in July
France Consumer Price Index (EU norm) (YoY) meets forecasts (2.4%) in July
New Zealand Dollar gains on hawkish RBNZ policy outlook
NZD/USD gains ground after four days of losses, trading around 0.5870 during the early European hours on Friday. The pair appreciates as the New Zealand Dollar (NZD) receives support from traders continuing to price in a Reserve Bank of New Zealand (RBNZ) rate hike next month.
British Pound edges down against Japanese Yen on hawkish BoJ bets
The British Pound (GBP) faces mild selling pressure against the Japanese Yen (JPY) during the European trading session on Friday.
Japanese Yen: Recovery needs faster BoJ normalisation – OCBC
OCBC’s Sim Moh Siong and Christopher Wong note that September Bank of Japan (BoJ) hike expectations have risen sharply, but the Japanese Yen (JPY) has reacted only modestly.
Forex Today: Easing Fed rate hike bets weigh on USD amid Mideast stalemate
Here is what you need to know on Friday, August 14:
India WPI Inflation came in at 9.78%, below expectations (10.25%) in July
India WPI Inflation came in at 9.78%, below expectations (10.25%) in July