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The Dollar Index breaks on the fourth consecutive soft print
The Dollar Index took a payroll contraction on August 7, a cooler consumer price reading on August 12 and a flat producer price reading on August 13 without surrendering its range. Friday's data finally did it.
Singapore Dollar: Consolidation near 1.28 with upside risks against US Dollar – OCBC
OCBC’s Sim Moh Siong and Christopher Wong note USD/SGD is consolidating around 1.28 as softer United States (US) Producer Price Index (PPI) trims Federal Reserve (Fed) hike expectations but fails to trigger fresh US Dollar (USD) selling.
USD/CHF Price Forecast: Bearish flag holds as bulls eye 0.8150
The USD/CHF turns negative on the day, snapping a four-day winning streak, yet it remains above 0.8100, suggesting further upside is possible if buyers reclaim key resistance levels. At the time of writing, the pair trades at a 0.12% loss.
United States Baker Hughes US Oil Rig Count rose from previous 454Â to 455
United States Baker Hughes US Oil Rig Count rose from previous 454Â to 455
Gold rallies as weak US data dents Fed hike bets
Gold price registers solid gains of nearly 0.90% on Friday as the US Dollar weakens across the board, following a week that featured softer inflation data, which decreased the chances for a rate hike by the Federal Reserve (Fed). The XAU/USD trades at $4,386, still below the $4,400 threshold.
South Korean Won: Gains target 1407 against US Dollar – Societe Generale
Societe Generale analysts note USD/KRW has corrected after losing its 200-day moving average near 1478 and is now testing an ascending trend line from 2023 around 1407.
Chinese Yuan: Range trade persists near 6.7450 against US Dollar – UOB
United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann note that USD/CNH remains confined to a tight intraday range, with momentum indicators still flat and the pair expected to trade between 6.7400 and 6.7500.
The Dow Jones Industrial Average learns who paid for disinflation
Two cooling inflation readings carried the broad market to a record on Thursday, taking the S&P 500 through 7,800 for the first time, and Friday morning supplied the explanation for where the cooling came from.
New Zealand Dollar charges toward 0.5900 as US Dollar loses ground
NZD/USD gains 0.75% on Friday and trades around 0.5895 at the time of writing, with its rally losing some momentum as it approaches the psychological 0.5900 level.
Natural gas: Tight European balance and storage risks – Commerzbank
Commerzbank’s Norman Liebke stresses that European natural gas remains structurally tighter than Oil as Qatar LNG is cut off and US cargoes are redirected to Asia.
Silver Price Forecast: XAG/USD holds gains but struggles for fresh momentum
Silver (XAG/USD) trades on the front foot on Friday but lacks strong follow-through and remains within the narrow range seen this week. At the time of writing, XAG/USD trades around $65 after bouncing from an intraday low of $63.51.
Euro: Spreads support upside bias against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret report EUR/USD trading in the mid-1.15s with modest gains versus the US Dollar (USD), supported by euro area Gross Domestic Product (GDP) and a return to trade surplus.
EUR/GBP stuck in a tight range as traders observe the war
EUR/GBP has traded in a tight range around the mid-0.8500s on Friday, little changed on the day. The latest Eurozone figures came in close to forecasts, and they did nothing to push the pair out of the range it has held all week.