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Euro: Set to outperform Pound, US Dollar and Yen - Nomura
Nomura strategists see greater fiscal vulnerabilities in the United Kingdom (UK) than in the Euro area. Strong foreign inflows into Euro area bonds and comparatively better debt dynamics support its view that Euro (EUR) should outperform British Pound (GBP), US Dollar (USD) and Japanese Yen (JPY).
India FX Reserves, USD up to $716.91B in August 10 from previous $707B
India FX Reserves, USD up to $716.91B in August 10 from previous $707B
Australian Dollar rallies above 0.7150 as the US Dollar bleeds amid bond buybacks
The Australian Dollar (AUD) accelerated its rally against the US Dollar (USD) on Friday, hitting session highs above 0.7150 for the first time since early June and drawing closer to a three-month top, in the 0.7200 area.
Experts agree: Weak Dollar backs near-term upside in EUR/USD
The Euro (EUR) trades 0.21% higher at around 1.1710 against the US Dollar (USD) during the European trading session on Friday, the highest level seen in over three months.
US Dollar: Yield management weighs on currency – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad notes the US Dollar (USD) is weaker against all major currencies as longer-term US Treasury yields edge lower following buyback plans. Haddad argues expanded buybacks and fiscal messaging may cap long-end yields but at a credibility cost for the USD.
$4,600: Gold rallies to three-month high, eyes third weekly gain
Gold (XAU/USD) is heading for a third consecutive weekly gain on Friday, extending an impressive rally that has lifted the precious metal by around 13% so far this month. At the time of writing, XAU/USD trades around $4,603, its highest level since May 15.
US Dollar broadly consolidates as analysts cast doubts over long-term impact of US Treasury buyback
The US Dollar Index (DXY) is broadly consolidating near the 99.00 level as investors process the US Treasury's expanded long-end bond buyback and a modest rebound in Treasury yields.
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).
Gold Price Forecast: XAU/USD testing three-month highs near $4,600 as the US Dollar dives
Gold (XAU/USD) extends gains on Friday, with bulls aiming for a retest of the $4,600 resistance area, the top of the last six months' trading range.
US Dollar: Limited upside as fiscal plans questioned – MUFG
MUFG’s Derek Halpenny notes that the US Dollar has weakened as investors focus on potential US Treasury measures to stem the decline in Treasury yields, while Japanese inflation data supports expectations for a 25bp BoJ rate hike in September.
United Kingdom: Burnham sentiment bounce – 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 Global’s Composite PMI, which ticked up to 56 from 54.5 in July.
United States: Yields risk renewed surge – Rabobank
Rabobank's Senior US Strategist Philip Marey discusses United States (US) Treasuries, noting that the Treasury Department’s surprise move to boost buybacks of longer-term bonds has only briefly interrupted rising yields.