Market News
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British Pound: Range-trade now, 1.3700 in sight against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note GBP/USD remains in a short-term consolidation, with price action confined between 1.3620 and 1.3665 after an overbought push to 1.3675.
Canadian Dollar: Trade conflict weighs on Loonie – Commerzbank
Commerzbank’s Michael Pfister says the latest breakdown in US–Canada trade talks and Ottawa’s planned retaliatory tariffs point to a potentially protracted trade conflict.
Australian Dollar holds near June highs, above 0.7150 ahead of expected Iran sanctions
The AUD/USD pair extends the sideways consolidative price move near its highest level since early June, touched on Friday, and holds steady above mid-0.7100s through the early European session.
ECB's Cipollone: Risk of economic stagnation and sharp inflation rise is rather remote
European Central Bank (ECB) Executive Board member Piero Cipollone said that ‌the risk of economic stagnation and a sharp increase in inflation due to the crisis in the Strait of Hormuz is rather remote, Reuters reported on Monday.
Canadian Dollar declines as US-Canada trade talks collapse
The USD/CAD pair recovers some lost ground to near 1.3820 during the early European session on Monday. The Canadian Dollar (CAD) weakens against the US Dollar (USD) after US-Canada talks collapse into a trade war.Â
Equities: Resilience supported by strong macro – Danske Bank
Danske Research Team reports that Equities ended Friday higher, though several markets, especially in the US, finished the week lower. The team stresses that robust macro and earnings data, plus sector leadership from Materials over Utilities, show no defensive rotation.
Japanese Yen: Psychological resistance and intervention fears – MUFG
MUFG’s Teppei Ino reviews recent USD/JPY trading ahead of Jackson Hole. The pair opened near 159 and repeatedly tested the 160 level, which acted as psychological resistance as traders watched for possible Japanese intervention.
Euro: Upside room toward 1.1800 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann keep a constructive view on EUR/USD after the pair held near 1.1680 and tested 1.1710 twice.
Norway Credit Indicator fell from previous 4.4% to 4.3% in July
Norway Credit Indicator fell from previous 4.4% to 4.3% in July
EUR/USD Price Forecast: Holds steady below 1.1700 as overbought momentum tempers further gains
The EUR/USD pair holds steady near 1.1680 during the early European trading hours on Monday. Fiscal interventions from the US Treasury weigh on the US Dollar (USD) against the Euro (EUR). Traders brace for details of sanctions on Iran and a policy ‌speech this week in the United States (US).Â
Indonesian Rupiah declines despite prevailing high interest rates, weaker US Dollar
USD/IDR gains ground after three days of losses, trading around 17,740 during the Asian hours on Monday. However, the currency pair could face headwind pressure as the Indonesian Rupiah (IDR) may draw renewed support from lingering high interest rates.
NZD/USD Price Forecast: Consolidates near June high as bulls await breakout through 0.6000
The NZD/USD pair enters a bullish consolidation phase at the start of a new week and trades around the 0.5975 region during the Asian session, just below its highest level since June, touched on Friday.
Singapore Consumer Price Index (YoY): 2.2 (July) vs 1.9
Singapore Consumer Price Index (YoY): 2.2 (July) vs 1.9