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Chinese Yuan: Steady appreciation backed by PBoC stance – Societe Generale
Societe Generale analysts highlight CNY’s firm trend, with the currency advancing to 6.7424, its strongest level since February 2023, on Dollar weakness and lower US yields.
Forecasting the upcoming week: FOMC Minutes take center stage next week
The US Dollar Index (DXY) extended its slide on Friday, holding below 100.00 at fresh lows after a fourth straight soft US data print.
South Korean Won: Foreign inflows and exporters support KRW – Commerzbank
Commerzbank notes that the Kospi has rebounded 29.5% from its 30 July low, supported by strong tech earnings and improved sentiment toward semiconductor and memory chipmakers.
Japan CFTC JPY NC Net Positions climbed from previous ¥-45.5K to ¥-42.1K
Japan CFTC JPY NC Net Positions climbed from previous ¥-45.5K to ¥-42.1K
United States CFTC Gold NC Net Positions up to $217.9K from previous $197.6K
United States CFTC Gold NC Net Positions up to $217.9K from previous $197.6K
United Kingdom CFTC GBP NC Net Positions increased to £-56.2K from previous £-57.8K
United Kingdom CFTC GBP NC Net Positions increased to £-56.2K from previous £-57.8K
United States CFTC Oil NC Net Positions declined to 99.2K from previous 112.4K
United States CFTC Oil NC Net Positions declined to 99.2K from previous 112.4K
United States CFTC S&P 500 NC Net Positions: $11.3K vs $-27.3K
United States CFTC S&P 500 NC Net Positions: $11.3K vs $-27.3K
Eurozone CFTC EUR NC Net Positions dipped from previous €-58.1K to €-60K
Eurozone CFTC EUR NC Net Positions dipped from previous €-58.1K to €-60K
Australia CFTC AUD NC Net Positions down to $-39.2K from previous $-33.2K
Australia CFTC AUD NC Net Positions down to $-39.2K from previous $-33.2K
EUR/USD Price Forecast: 100-Day SMA blocks bullish reversal
The EUR/USD pair registers gains of over 0.32% on Friday as traders face key resistance at the 100-day Simple Moving Average (SMA) at 1.1567, as bulls eye the 1.1600 psychological figure. At the time of writing, the pair trades at 1.1564 after bouncing off daily lows of 1.1526.
Chinese Yuan: Activity data and PBOC stance guide FX – MUFG
MUFG’s Asia FX Weekly highlights that China’s July activity indicators, following weak Q2 GDP, will be central for the Chinese Yuan and regional FX.
Japanese Yen holds as soft US data meets a weak Yen
USD/JPY is holding near 159.40 at the time of writing, with little change on the day. A weak United States (US) Consumer Sentiment reading nudged the Dollar lower, but the pair has stayed close to where it started.