The markets are off to a slow start, with low vol summertime trading still overshadowing broader developments, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret note. USD little changed as attentions shifts to Powell comments due Friday “There is clearly much to digest and understand from Friday’s Trump/Putin meeting—details may become clearer with today’s […]
The Indian Rupee drops against the US Dollar as India’s WPI inflation grew moderately in July. US Treasury Secretary Bessent anticipates a 50-bps interest rate cut by the Fed in September. Investors await India-US producer inflation data for July. The Indian Rupee (INR) falls back against the US Dollar (USD) on Thursday after a two-day
Dollar continued to stay soft in Asian session today, carried over from Tuesday’s post US CPI weakness. US Treasury Secretary Scott Bessent added to the policy discussion by urging Fed to consider a 50bps rate cut in September to “make up for the delay” in starting its easing cycle earlier this year. Bessent argued that
Dollar came under renewed selling pressure in early US session following the release of July’s CPI report. Equity markets responded positively, with stock futures pushing higher as investors focused on the softer-than-expected headline reading, largely downplaying the firmer core figure. Market reaction suggests the report does little to disrupt expectations for the Fed to deliver
The Euro retreats from weekly highs, and the US Dollar picks up on speculation that Governor Waller might be the next Fed Chair. Fed Bostic warned about the impact of tariffs and cooled hopes of a September rate cut. EUR/USD found resistance at 1.1700 and is correcting lower. The EUR/USD pair slides from one-week highs
Gold price attracts some safe-haven flows in reaction to Trump’s fresh tariff threats. Rising bets for a Fed rate cut in September also benefit the non-yielding commodity. The USD drops to a nearly two-week low and offers additional support to XAU/USD. Gold price (XAU/USD) climbs to the top end of the weekly range during the
The Japanese Yen attracts fresh sellers amid reports of additional US tariffs. Mixed BoJ rate hike cues further undermine the JPY amid a positive risk tone. Rising September Fed rate cut bets weigh on the USD and cap the USD/JPY pair. The Japanese Yen (JPY) remains on the back foot through the Asian session on
The Japanese Yen attracts some dip-buying, though it lacks bullish conviction. Weak real wages data from Japan tempers BoJ rate hike bets and caps the JPY. Rising September Fed rate cut bets weigh on the USD and the USD/JPY pair. The Japanese Yen (JPY) edges higher against its American counterpart during the Asian session on
The Japanese Yen struggles to capitalize on modest Asian session gains against the rebounding USD. Hawkish June BoJ meeting Minutes reaffirmed rate hike bets and should limit the JPY downside. Rising September Fed rate cut bets could act as a headwind for the USD and cap the USD/JPY pair. The Japanese Yen (JPY) remains on
Gold firms above $3,350 as the US Dollar remains under pressure on Monday. The soft July NFP report has heightened market bets on a potential interest rate cut in September. Fears of political interference grow after US President Donald Trump fires BLS Commissioner Erika McEntarfer. Gold (XAU/USD) kicks off the week on a cautious note,
In an interview with Bloomberg TV on Friday, Federal Reserve Bank of Cleveland President Beth Hammack noted that the July jobs data was disappointing, per Reuters. Earlier in the day, the US Bureau of Labor Statistics (BLS) reported that Nonfarm Payrolls rose by 73,000 in July, missing the market expectation of 110,000. Additionally, noted that
Asian equities slipped slight today after U.S. President Donald Trump issued a long-anticipated executive order updating tariff rates following the August 1 trade truce deadline. But losses were relatively restrained as many of Asia’s key exporters avoided the harshest duties. While tariffs now top out at 41%, nations like Thailand, Malaysia, and Taiwan saw their
The Federal Reserve on Wednesday announced its widely expected decision to leave interest rates unchanged for the fifth consecutive meeting. In support of its dual goals of maximum employment and inflation at the rate of 2 percent over the longer run, the Fed said it decided to maintain the target range for the federal funds
Gold slips below $3,300 on upbeat US economic data, traders stay cautious ahead of the Federal Reserve’s monetary policy decision. The Federal Reserve is widely expected to keep interest rates steady, but forward guidance on rate cuts is the main market driver. Safe-haven demand remains muted amid easing global trade tensions and improving risk appetite.
It was just a brief dip below the 1.16 mark last week. Early this morning, EUR-USD is trading almost 2 cents higher around 1.1740. As our currency indices indicate (which measure the performance of currencies against the G10 average), the downward movement and now the upward movement can primarily be attributed to the USD side.
European Markets are increasingly uneasy over signs that the EU is preparing serious retaliatory measures ahead of the August 1 US tariff deadline. The Anti-Coercion Instrument is increasingly in the spotlight, as EU leaders weigh how to respond to US President Donald Trump’s threat of sweeping 30% import tariffs. European equities are firmly in the
Gold price attracts fresh sellers amid renewed USD buying and reduced Fed rate cut bets. A generally positive risk tone is seen as another factor undermining the precious metal. Persistent trade-related uncertainties could limit losses for the safe-haven commodity. Gold price (XAU/USD) extends the overnight retracement slide from a multi-week top and continues to lose
