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New Zealand Retail Sales (QoQ) above expectations (0.1%) in 2Q: Actual (0.7%)
New Zealand Retail Sales (QoQ) above expectations (0.1%) in 2Q: Actual (0.7%)
AUD/USD Price Forecast: Bulls target YTD high after breakout
The Aussie Dollar finished the week with gains of over 0.82% on Friday and up more than 1.20% for the week as the US Dollar tumbled following the US Treasury Department's announcement of a bond buyback for the long end of the curve. The AUD/USD trades at 0.7170, after rebounding near 0.7067.
USD/CHF Price Forecast: Bulls reclaim 0.8000 as recovery stalls
The USD/CHF advanced on Friday, registering a modest 0.07% gain, trading at 0.8010. During the week, the pair finished with losses of over 1.49%, triggered by a drop in US yields on Wednesday, as the US Treasury tries to cap elevated yields on the 30-year bond.
Mexican Peso reaches two-year high despite weaker Retail Sales
The Mexican currency appreciates to levels last seen in May 2024 as the USD/MXN falls to a two-year low as the US Dollar tumbles even though business activity in the services sector improved. The exotic pair trades at 16.92, down 0.22% for the week and 0.50% for the week.
South Korean Won: Cautious tightening path expected from BoK – DBS
DBS economists Taimur Baig and Radhika Rao expect the Bank of Korea (BoK) to raise its base rate by 25bps to 3.00% at the August meeting, alongside upgraded Gross Domestic Product (GDP) and Consumer Price Index (CPI) forecasts.
Malaysian Ringgit: Robust trade supports MYR – Commerzbank
Commerzbank’s Moses Lim notes Malaysia’s July exports rose 38.0% year-on-year, marking a fourth month of double‑digit growth led by electronics and machinery. The bank highlights resilient external demand, strong shipments to the US and China, and an AI‑driven electronics cycle.
Thai Baht: Extended policy pause expected from Bank of Thailand – DBS
DBS economists Taimur Baig and Radhika Rao expect the Bank of Thailand (BoT) to keep its policy rate unchanged at 1.00% in August, extending the pause after June’s unanimous decision.
Japanese Yen neutral as it meets resilient US data
The US Dollar (USD) is muted against the Japanese Yen (JPY). USD/JPY traded in the low 159.00s at the time of writing on Friday.
United States CFTC Oil NC Net Positions up to 122.1K from previous 99.2K
United States CFTC Oil NC Net Positions up to 122.1K from previous 99.2K
Eurozone CFTC EUR NC Net Positions: €-59.1K vs €-60K
Eurozone CFTC EUR NC Net Positions: €-59.1K vs €-60K
United States CFTC S&P 500 NC Net Positions declined to $-10.6K from previous $11.3K
United States CFTC S&P 500 NC Net Positions declined to $-10.6K from previous $11.3K
United Kingdom CFTC GBP NC Net Positions: £-54.6K vs £-56.2K
United Kingdom CFTC GBP NC Net Positions: £-54.6K vs £-56.2K
Japan CFTC JPY NC Net Positions: ¥-52.9K vs previous ¥-42.1K
Japan CFTC JPY NC Net Positions: ¥-52.9K vs previous ¥-42.1K