Market News
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Mexican Peso holds firm as Banxico minutes support the Peso
The Mexican Peso (MXN) holds firm versus the US Dollar (USD) on Thursday as the Bank of Mexico (Banxico) adopted a cautious stance regarding monetary policy, while jobs data in the US showed that the labor market is stable.
South Korean Won: Rally accelerates with foreign inflows – DBS
DBS strategist Chang Wei Liang reports that South Korean Won (KRW) strength has resumed, with USD/KRW dropping to the mid-1380s even as KOSPI fell nearly 6% on semiconductor-led losses.
Argentina Trade Balance (MoM) above forecasts ($1850M) in July: Actual ($2115M)
Argentina Trade Balance (MoM) above forecasts ($1850M) in July: Actual ($2115M)
Indonesian Rupiah: Softer Dollar offers limited relief – OCBC
OCBC strategists Sim Moh Siong and Christopher Wong note that Indonesian Rupiah (IDR) should find some relief from a softer Dollar and lower long-end US yields, with BI keeping its policy rate at 5.75% and focusing on currency stability.
Singapore Dollar: Upside risk stays in focus against US Dollar – UOB
United Overseas Bank’s Quek Ser Leang and Lee Sue Ann note that USD/SGD extended its overnight slide as the US Dollar (USD) sell-off pushed the pair back toward the 1.27 area.
Banxico minutes signal long rate pause as inflation eases
The minutes of the Bank of Mexico (Banxico) August meeting showed that the central bank is expected to hold rates steady for some time, despite the resumption of the disinflation process.
New Zealand Dollar rises as RBNZ rate hike expectations strengthen
NZD/USD advances for the second consecutive day on Thursday, trading around 0.5940 at the time of writing, up 0.12% on the day.
Australian Dollar holds near highs as mixed data keeps RBA tightening bets alive
AUD/USD is trading in the 0.7100 neighborhood at the time of writing on Thursday, holding close to multi-week highs after a steady climb off its earlier lows. The pair is marginally weaker on the day as the US Dollar (USD) regains a little ground, but the broader uptrend remains intact.
British Pound climbs as UK inflation keeps BoE hike bets alive
The Pound Sterling (GBP) advances on Thursday during the North American session, up 0.25% after US economic data showed that the labor market remains solid, despite a weaker Nonfarm Payrolls in July.
USD/CHF Price Forecast: Attempts to reclaim 0.8000 after defending the 100-day SMA
USD/CHF regains ground on Thursday as the US Dollar (USD) stabilises following the previous day’s broad weakness, which pushed the pair below the 0.8000 psychological mark and to its lowest level since June 17, weakening the near-term bullish structure.
United States 4-Week Bill Auction increased to 3.64% from previous 3.625%
United States 4-Week Bill Auction increased to 3.64% from previous 3.625%
Bessent wants bigger bond buybacks, but markets barely blink
United States (US) Treasury Secretary Scott Bessent said on Thursday that the Treasury could increase bond buybacks beyond $4 billion, partly to signal that current yields do not reflect underlying economic fundamentals. He stressed that interest rates have nothing to do with the buyback decision.
Indonesia: Rupiah stability supports BI pause – DBS
DBS Group Research economist Radhika Rao notes Bank Indonesia (BI) kept its policy rate at 5.75% with Acting Governor Destry maintaining a neutral bias while flagging global risks. A strong domestic growth print and Indonesian Rupiah (IDR) stability underpin the decision.