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Japanese Yen: Intervention risk near 160 highlighted – DBS
Philip Wee of DBS Group Research notes that markets still focus on Japan’s struggle to support the Japanese Yen, while underplaying broader USD implications.
Gold strengthens above $4,400 as Fed rate-hike expectations fade
Gold (XAU/USD) extends its intraday advance on Monday, supported by fading expectations that the Federal Reserve (Fed) will raise interest rates at its September meeting, while the US Dollar (USD) remains on the back foot. At the time of writing, XAU/USD trades around $4,425, up 1.11% on the day.
Canadian Dollar gains ground with inflation data set to test BoC outlook
USD/CAD trades around 1.3860 on Monday at the time of writing, down 0.11% on the day. The pair extends its decline as the US Dollar (USD) remains under pressure against the Canadian Dollar (CAD), with investors scaling back expectations of further monetary tightening by the Federal Reserve (Fed).
China: Growth risks rise into H2 – Commerzbank
Commerzbank’s Dr. Henry Hao highlights that China’s July activity data undershot expectations across industrial output, retail sales and fixed-asset investment, reflecting weather disruptions and a deepening property slump.
Yen retreats below 159.00 against the US Dollar as Japanese GDP disappoints
The Japanese Yen holds marginal gains against the US Dollar (USD) on Wednesday, although the USD/JPY pair has returned to levels above 159.00 during the European session, after hitting daily lows around 158.85.
Gold Price Forecast: XAU/USD holds bullish bias near $4,400
Gold (XAU/USD) maintains a bullish bias around $4,400, supported by a weaker US Dollar (USD) and fading expectations of further interest rate hikes by the Federal Reserve (Fed).
British Pound: Labour data seen backing BoE hold – TD Securities
TD Securities expects the UK labour market to remain soft but stable in June, with employment rising 100k on a three‑month basis and unemployment edging down to 4.7%. Headline average weekly earnings are forecast to slow to 4.0%, while ex‑bonus pay holds at 3.4%.
US Dollar Index Price Forecast: Bears push against two-month lows at 99.40
The US Dollar Index (DXY) extends losses for the third consecutive day on Monday, with bears testing levels at two-month lows below 99.40 during the European session.
WTI advances above $82.00 as US-Iran deadlock supports prices
West Texas Intermediate (WTI) US Oil advances on Monday and trades around $82.10 at the time of writing, up 0.70% on the day. Oil prices remain supported by the deadlock between the United States (US) and Iran, which keeps concerns about Oil flows through the Strait of Hormuz elevated.
Swedish Krona: Riksbank seen on cautious hawkish hold – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad expects the Riksbank to keep its policy rate at 1.75% for a seventh consecutive meeting while leaving the door open to a later hike as inflation runs above projections.
Dow Jones futures decline despite softening Fed rate hike expectations
Dow Jones futures decline by 0.12%, trading around 53,740 during European hours on Monday. Meanwhile, S&P 500 futures gain, hovering around 7,820, and Nasdaq 100 futures surge by 0.5%, trading near 30,290.
Turkish Lira: Market doubts disinflation and Lira stability – Commerzbank
Commerzbank’s Tatha Ghose notes that the Central Bank of the Republic of Türkiye's (CBRT) survey shows market participants revising inflation forecasts higher and expecting only gradual rate cuts from current effective levels.
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Monday, according to FXStreet data. Silver trades at $65.46 per troy ounce, up 1.17% from the $64.70 it cost on Friday.