Market News
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Swiss Franc: Strong growth may curb losses against Euro – Rabobank
Rabobank's Senior FX Strategist Jane Foley highlights Switzerland’s stronger-than-expected Q2 Gross Domestic Product (GDP) and resilient economy, yet notes EUR/CHF remains in a gentle uptrend since late May.
Norwegian Krone: Restrictive Norges Bank stance and downside risks - Commerzbank
Commerzbank’s Antje Praefcke explains that Norges Bank kept its policy rate at 4.25% and still signals that further tightening may be necessary as inflation remains above target. However, upcoming data, especially August inflation, could prompt the bank to drop its year-end hike signal.
Swiss Franc edges up from lows against the US Dollar with US Retail Sales on tap
The Swiss Franc (CHF) picks up from two-week lows as the US Dollar (USD) struggles with markets cutting back bets of a Federal Reserve (Fed) interest rate hike in September.
British Pound strengthens against US Dollar as traders price out hawkish Fed bets
The British Pound (GBP) trades 0.35% higher to near 1.3533 against the US Dollar (USD) during the European trading session on Friday.
India FX Reserves, USD rose from previous $692.87BÂ to $707B in August 3
India FX Reserves, USD rose from previous $692.87BÂ to $707B in August 3
Canadian Dollar: Manufacturing sales drag from energy – TD Securities
TD Securities strategists forecast Canadian Manufacturing Sales to fall 0.4% month-on-month in June, weaker than the market’s -0.1% call, mainly due to lower petroleum prices.
USD/CAD Price Forecast: Posts fresh two-month low below 1.3900
The Canadian Dollar (CAD) outperforms a majority of its currency peers on Friday, with the USD/CAD pair trading 0.32% lower at around 1.3888. The Canadian currency gains on hopes of a United States (US)-Canada interim deal.
NZD/USD Price Forecast: Approaches 0.5900 resistance area as US Dollar weakensÂ
The New Zealand Dollar (NZD) appreciates on Wednesday as the US Dollar (USD) loses ground across the board amid dwindling hopes of immediate Federal Reserve interest rate hikes.
Euro holds gains above 1.1550 following Eurozone GDP and bright Trade Balance data
The Euro (EUR) holds moderate gains against the US Dollar (USD) on Friday, as Eurozone Gross Domestic Product (GDP) came in line with market forecasts while June's Trade Balance beat forecasts.
Japanese Yen: Bearish bias within 158.00–160.20 band against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann judge USD/JPY price action as inconclusive intraday, with trading expected between 159.00 and 159.70 after a tight 159.01–159.56 range.
Brazilian Real: Election risks threaten Real – Societe Generale
Societe Generale’s Dev Ashish flags growing election and fiscal risks weighing on Brazilian assets. BRL has underperformed in LatAm, with USD/BRL nearing its 200-day moving average at 5.2042 and Bovespa breaking below its long-term average.
Australian Dollar: RBA keeps hike option open – Rabobank
Rabobank strategist Elwin de Groot reports that the Reserve Bank of Australia (RBA) left rates unchanged, with markets initially reading the statement as dovish.
Federal Reserve: RMP pause and QT timing – TD Securities
TD Securities’ Gennadiy Goldberg and Molly Brooks analyze the Federal Reserve’s decision to halt Reserve Management Purchases (RMP) after tapering from $40bn to $10bn per month.