Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
Oil: Volatile range trading outlook – Rabobank
Rabobank’s Joe DeLaura details how renewed United States (US)–Iran tensions and disruptions at the Strait of Hormuz have driven a sharp rally and subsequent correction in Brent and West Texas Intermediate (WTI).
Breaking: US Nonfarm Payrolls fall by 23K in July vs. +80K expected
Nonfarm Payrolls (NFP) in the United States (US) declined by 23K in July, the US Bureau of Labor Statistics (BLS) reported on Friday. This print followed the 20K increase (revised from 57K) recorded in June and fell short of the market expectation for an increase of 80K by a wide margin.
British Pound eases below 1.3450 as markets brace for the US Nonfarm Payrolls report
The British Pound (GBP) nurses minor gains against the (USD) for the second consecutive day on Friday, with the GBP/USD retreating to levels just below 1.3450 at the time of writing.
Czech Koruna: CZK softens against Euro as CNB waits – Commerzbank
Commerzbank’s Tatha Ghose reports that the Czech National Bank (CNB) kept its policy rate at 3.75% and returned to a wait-and-see stance after June’s 25bp hike, despite still citing upside inflation risks.
Japanese Yen: Higher US rate volatility favors safe havens – BNY
BNY's David Tam argues that rising U.S. rate volatility should favor safe-haven currencies, with the Yen historically benefiting from such episodes. Heavy speculative JPY shorts add another catalyst, as appreciation could force position unwinds and trigger a sharper squeeze.
Euro remains stronger against Canadian Dollar as German Industrial output beats forecasts
EUR/CAD gains ground after two days of losses, trading around 1.6160 during the European hours on Friday. The currency cross maintains its strength as the Euro (EUR) holds its ground following the latest data release from Destatis.
Equities: Stocks pressured by higher yields and energy risks - Deutsche Bank
Deutsche Bank strategists notes that the S&P 500 slipped as geopolitical developments and higher yields pressured sentiment. Energy outperformed while industrials and materials lagged.
Japanese Yen trades broadly flat against US Dollar, NFP data eyed
The Japanese Yen (JPY) trades almost flat against the US Dollar (USD) at around 158.42 during the European trading session on Friday. The USD/JPY pair consolidates as investors await the United States (US) Nonfarm Payrolls (NFP) data for July, which will be published at 12:30 GMT.
China Foreign Exchange Reserves (MoM) below forecasts ($3.42T) in July: Actual ($3.419T)
China Foreign Exchange Reserves (MoM) below forecasts ($3.42T) in July: Actual ($3.419T)
British Pound holds steady around 213.00 as fiscal concerns and rate gap undermine Yen
The GBP/JPY cross struggles to extend its positive move witnessed over the past three days and consolidates around the 213.00 mark, or the top end of its weekly range, through the early European session on Friday.
Silver Price Forecasts: XAG/USD bulls are eroding resistance at the $63.30 areaÂ
Silver (XAG/USD) resumes its near-term bullish trend on Friday, after a brief hesitation on Thursday, reaching fresh six-week highs at $63.90, although it is still due to confirm the break of the resistance area at $63.30.
Copper: Near record highs on tight supply – ING
ING’s Warren Patterson and Ewa Manthey report Copper trading comfortably above $14,000/t, close to record highs, supported by tariff-related stockpiling into the US and tight physical markets elsewhere. They flag low inventories, constrained mine supply and ongoing disruptions as key supports.
Forex Today: Markets turn attention from Middle East to Nonfarm Payrolls
Here is what you need to know on Friday, August 7: