Market News
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Japanese Yen: Higher energy prices pressure JPY – MUFG
MUFG’s Lee Hardman reports the Japanese Yen has weakened again, pushing USD/JPY back above 162.00 as higher energy prices and fading impact from last week’s verbal intervention weigh on the currency.
Fed: Inflation risks and policy hold – TD Securities
TD Securities economists Oscar Munoz and Eli Nir highlight that the June FOMC minutes were hawkish, with most participants ready to hike if supply-driven inflation persists.
Switzerland: Federalism and direct democracy as growth drivers – Commerzbank
Commerzbank’s Dr. Jörg Krämer describes Switzerland’s strong federalism and extensive use of financial referenda as key to its superior economic outcomes. Cantons and municipalities compete for taxpayers by setting their own tax rates and controlling spending.
Why the Swiss Franc isn’t likely to move far from 0.9200 against the Euro
The Swiss Franc (CHF) trades in a tight range against the Euro (EUR) as the Swiss National Bank (SNB) actively works to neutralize safe-haven capital inflows stemming from increased geopolitical woes.Â
Japanese Yen: GPIF narrative keeps FX volatility elevated – BNY
BNY’s Geoff Yu highlights that Japan remains a key source of two‑way FX volatility as markets digest conflicting signals on Government Pension Investment Fund (GPIF) allocations.
Russia Foreign Trade up to $14.154B in May from previous $11.431B
Russia Foreign Trade up to $14.154B in May from previous $11.431B
Swiss Franc: SNB intervention and cautious policy stance – Rabobank
Rabobank's Senior FX Strategist Jane Foley describes how the Swiss National Bank has actively countered safe haven inflows into the Swiss Franc since the Iran war, selling CHF and signalling increased willingness to intervene.
Germany Current Account n.s.a. declined to €10.4B in May from previous €13.8B
Germany Current Account n.s.a. declined to €10.4B in May from previous €13.8B
Euro climbs above 1.1400 as US Dollar loses ground
EUR/USD trades with a mild positive bias on Monday as the US Dollar (USD) gives back its earlier gains. At the time of writing, the pair trades around 1.1424 after recovering from an intraday low of 1.1384.
Japanese Yen: Consolidation near resistance band against US Dollar – Societe Generale
Societe Generale’s Kenneth Broux describes USD/JPY consolidating after failing again at resistance near 162.80. The pair is seen in a narrow range, with key support at 160.40 tied to the March peak and upside projections towards 163.70/164.40 if resistance breaks.
New Zealand Dollar: RBNZ tightening risks watched – UOB
UOB’s Lee Sue Ann and Jester Koh note that the Reserve Bank of New Zealand raised the Official Cash Rate to 2.50% in July and adopted a more hawkish tone as inflation risks remain elevated.
Canadian Dollar: Supported against US Dollar by steady BoC outlook – BNY
BNY’s Geoff Yu notes that the Bank of Canada (BoC) is widely expected to keep its policy rate unchanged at 2.25%, with markets not pricing cuts until at least Q4.
Kiwi nears 0.5800 as RBNZ tightening hopes offset risk aversion
The New Zealand Dollar (NZD) retraced previous losses against the US Dollar (USD) on Monday and trades higher for the fourth consecutive day, approaching three-week highs near 0.5800.