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. They cite uneven economic growth, e…
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 1…
The U.S. dollar slid to three-month lows as the dollar index fell 0.3% to 104.20 amid a roughly 70% probability of a Fed rate cut by September after cooling U.S. data and the index's worst weekly drop since early March.…
TD Securities strategists argue that Kevin Warsh’s Jackson Hole speech will focus on structural themes such as productivity, AI-driven growth and Federal Reserve (Fed) regime change. They expect rate expectations to sta…
Commerzbank’s Senior Economist Dr. Vincent Stamer notes that Euro area business sentiment has stabilized at a moderate level, with the composite PMI edging up from 52.0 to 52.1 in August, slightly above consensus. Manuf…
Norman Liebke at Commerzbank warns that low European gas storage, suspended LNG exports from Qatar and the end of the refilling phase are keeping European gas prices elevated. The TTF benchmark is already above EUR 65 p…
USD/JPY trades around 158.85 on Friday at the time of writing, edging lower after rebounding from the 158.00 level on Thursday. The pair remains under pressure as the Japanese Yen (JPY) benefits from fresh inflation dat…
Brown Brothers Harriman’s (BBH) Elias Haddad reports EUR/USD is firmer on broad US Dollar (USD) weakness and stronger-than-expected Eurozone August Purchasing Managers' Index (PMI) data. Elias Haddad highlights the comp…
Nomura’s European Economics team highlights that UK composite output PMI rose to 52.5 in August, with services offsetting weaker manufacturing. GfK consumer confidence improved to its highest level in two years, support…
The Euro (EUR) is falling against the British Pound (GBP). EUR/GBP held the mid-0.8500s on Friday, hovering just below the 0.8570 area, even after a strong round of August flash Purchasing Managers Indexes (PMIs) on bot…
Global bond selloff persists as government buybacks fail to ease fiscal worries, leaving 10-year and 30-year yields near multi-year highs and debt-to-GDP ratios above 100% in several major economies. Higher yields are r…
Gold (XAU/USD) is heading for a third consecutive weekly gain on Friday, extending an impressive rally that has lifted the precious metal by around 13% so far this month. At the time of writing, XAU/USD trades around $4…
This week's US Treasury intervention in the bond market has caused much furore amongst the buy and sell-side financial community alike. We see the move more as a signalling tool that the US Treasury has a problem with h…
Chris Turner at ING explains that USD/CHF’s sharp drop after the US Treasury buy-back announcement was mainly position adjustment after a hawkish Fed narrative had favoured longs. If Treasury support is risk-positive, l…
Preliminary HCOB Manufacturing Purchasing Managers’ Index (PMI) in the Eurozone expands surprisingly at a faster pace to 52.8 in August from 51.9 in July. Manufacturing activity was anticipated to expand at a moderate p…
Hyundai Motor's South Korean union staged its first full strike in a decade on Friday, following stalled wage negotiations. The action, organized by the Korea Metal Workers Union, includes workers at Hyundai, affiliate …
MUFG’s Derek Halpenny sees a tension between aggressive Reserve Bank of New Zealand (RBNZ) tightening expectations and increasingly stretched short positioning in the New Zealand Dollar (NZD). While softer labour-market…
Dow Jones futures gain 0.13% to trade above 52,900 during European hours on Friday. Meanwhile, S&P 500 futures remain up by 0.18%, to trade near 7,680, and Nasdaq 100 futures advance by 0.38% to trade above 29,400.
The USD/CAD pair remains under some selling pressure for the third consecutive day and trades near a three-month low, just above mid-1.3700s during the first half of the European session on Friday. Spot prices remain on…
DBS Group Research economist Chang Wei Liang notes that the Dollar has firmed slightly as US Treasury yields recover, with DXY consolidating near 99.00 after the US Treasury expanded long-end bond buybacks. He argues bu…
Gold (XAU/USD) builds on its breakout momentum above a technically significant 200-day Simple Moving Average (SMA) and climbs further beyond $4,550, hitting a fresh high since early June during the early part of the Eur…
Brent crude futures were flat at $88 a barrel or 0.35%, while US West Texas Intermediate crude futures stood at $83.50, up 0.40% a barrel. Both benchmarks had jumped more than 5% on Monday, hitting their highest levels …
US Treasury Secretary Scott Bessent said that the US President Donald Trump administration’s plan to crush Iran’s economy will likely negate the need for major US military operations against the Islamic Republic, CNBC r…
USD/JPY trades near 159.00 late in the session, 0.5% higher on the day and a little over a point clear of a rising 200-day Exponential Moving Average (EMA) near 158.00. The pair has spent three weeks rebuilding what a c…