The US Dollar Index (DXY) climbs above the 99.30 region, reaching fresh multi-week highs on Friday as stronger-than-expected United States (US) economic data reinforced expectations that the Federal Reserve (Fed) may keep interest rates elevated for … [Continue reading]
Asian FX: Dollar strength caps RMB-led optimism – OCBC
OCBC's strategist Christopher Wong says Asian FX remains constrained by a firm Dollar and higher US yields, despite some optimism around US–China talks. The Renminbi (RMB) is the main outperformer on lower USD/CNY fixes and policy-tolerated … [Continue reading]
United States CFTC S&P 500 NC Net Positions declined to $-143.8K from previous $-103.9K
EUR/USD remains well on the defensive, extending its weekly leg lower to the 1.1620-1.1615 band on Friday, or new five-week troughs. Meanwhile, the pair continues to suffer the broad-based strength of the Greenback and a cautious market mood, as firm … [Continue reading]
Japan CFTC JPY NC Net Positions fell from previous ¥-61.7K to ¥-75.1K
EUR/USD remains well on the defensive, extending its weekly leg lower to the 1.1620-1.1615 band on Friday, or new five-week troughs. Meanwhile, the pair continues to suffer the broad-based strength of the Greenback and a cautious market mood, as firm … [Continue reading]
United States CFTC Gold NC Net Positions climbed from previous $163.3K to $171.6K
EUR/USD remains well on the defensive, extending its weekly leg lower to the 1.1620-1.1615 band on Friday, or new five-week troughs. Meanwhile, the pair continues to suffer the broad-based strength of the Greenback and a cautious market mood, as firm … [Continue reading]
Gold sinks 2% as Iran war fuels fresh inflation shock
Gold price retreats by over 2.30% on Friday amid fears that prolonged hostilities between the US and Iran could trigger a second wave of inflation, forcing central banks to hike interest rates. The XAU/USD trades at $4,551 after bottoming at around … [Continue reading]
US Dollar: Hawkish Fed repricing drives breakout – ING
ING's Francesco Pesole notes the US Dollar (USD) is gaining strong short-term momentum as hotter US data reinforce expectations for a Federal Reserve (Fed) hike. With US Dollar Index (DXY) breaking above late April highs and no progress on Gulf … [Continue reading]
Japanese Yen: Interventions need rate backing – Commerzbank
Commerzbank’s Michael Pfister argues that Japanese authorities cannot rely on FX interventions alone to support the Japanese Yen (JPY) against the US Dollar (USD). He notes that past intervention episodes delivered mixed results and July 2024’s … [Continue reading]
Asia stocks fall before Trump-Xi talks; South Korea’s Kospi slumps from record high
Most Asian stocks fell on Friday, shrugging off the overnight rally on Wall Street led by hopes for improving relations between the US and China – the world’s two biggest economies. Investors, however, remain on edge amid high-stakes talks between US … [Continue reading]
Euro weakens to near 1.1650 as hot US inflation boosts Fed hike expectations
The EUR/USD pair trades in negative territory near 1.1660 during the early Asian session on Friday. The US Dollar (USD) edges higher against the Euro (EUR) as surging US inflation, linked to Middle East tensions, reinforces expectations that the US … [Continue reading]