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Singapore Dollar: MAS surprise tightening supports SGD – HSBC
HSBC’s Abhilash Narayan notes that the Monetary Authority of Singapore (MAS) unexpectedly tightened policy on 27 July 2026 by raising the Singapore Dollar (SGD) Nominal Effective Exchange Rate (NEER) slope to 1.25%.
Australian Dollar: Risk-off and RBA tone weigh on Aussie – MUFG
MUFG’s Lee Hardman reports the Australian Dollar (AUD) has been the worst performing G10 currency overnight despite being the best performer year-to-date.
Swiss Franc: SNB on hold view boosts funding role – ING
ING’s Chris Turner highlights a Bloomberg source story suggesting the Swiss National Bank (SNB) may keep its policy rate at 0.00% until end-2027, aligning with ING’s own forecast.
Italy Trade Balance non-EU down to €2.55B in June from previous €3.843B
Italy Trade Balance non-EU down to €2.55B in June from previous €3.843B
Polish Zloty: Political fragmentation clouds zloty outlook – Commerzbank
Commerzbank’s Tatha Ghose highlights that Poland’s Law and Justice party has split, with Mateusz Morawiecki forming Development Plus and polling above the Sejm threshold.
Forex Today: US Dollar shows resilience ahead of Fed meeting
Here is what you need to know on Tuesday, July 28:
Swiss Franc weakens on easing safe-haven demand, US tariffs
USD/CHF continues its winning streak for the seventh successive day, trading around 0.8190 during the European hours on Tuesday.
Indonesian Rupiah drops as Bank Indonesia shakeup
USD/IDR extends gains for the second successive day, trading around 18,130 during the early European hours on Tuesday. The currency pair appreciates as the Indonesian Rupiah (IDR) faces pressure following the surprise resignation of Bank Indonesia (BI) Governor Perry Warjiyo on Monday.
Singapore Dollar: Energy risks could trigger further tightening – UOB
UOB strategists interpret Monetary Authority of Singapore's (MAS) July 2026 MPS as a calibrated tightening via a modest increase in the Singapore Dollar (SGD) Nominal Effective Exchange Rate (NEER) slope to an estimated 1.25% per annum, smaller than April’s move.
Spain Retail Sales (YoY): 0.5% (June) vs previous 1.3%
Spain Retail Sales (YoY): 0.5% (June) vs previous 1.3%
Spain Unemployment Survey below expectations (10.7%) in 2Q: Actual (9.87%)
Spain Unemployment Survey below expectations (10.7%) in 2Q: Actual (9.87%)
GBP/USD Price Forecast: Trades vulnerably near 1.3300 ahead of Fed-BoE policy
The British Pound (GBP) trades with caution at around 1.3300 against the US Dollar (USD) during the European trading session on Tuesday.
France Consumer Confidence came in at 86, above expectations (85) in July
France Consumer Confidence came in at 86, above expectations (85) in July