MAS seen on hold with cautious inflation tone – OCBC

MAS seen on hold with cautious inflation tone – OCBC

OCBC’s Sim Moh Siong and Christopher Wong expect the Monetary Authority of Singapore (MAS) to leave the Singapore Dollar (SGD) Nominal Effective Exchange Rate (S$NEER) policy unchanged at Monday’s meeting despite a modest rebound in core Consumer Price Index (CPI) to 1.6% year-on-year in June. They argue the move does not yet signal a broad […]

Euro falls even amid strong Eurozone PMIs

Euro falls even amid strong Eurozone PMIs

EUR/USD trades lower near the 1.1370 area on Friday, struggling despite stronger-than-expected Eurozone business-activity figures. The US Dollar Index (DXY) remains firmer near 101.50, offering limited support to the pair. Germany’s preliminary HCOB Composite Purchasing Managers Index (PMI) climbed to 51.2 in July from 49.5, exceeding expectations of 49.8 and returning to expansion territory. Manufacturing […]

Japanese Yen stays under pressure as USD/JPY eases from 40-year peak

Japanese Yen stays under pressure as USD/JPY eases from 40-year peak

USD/JPY edges lower on Friday, trading around 163.70, down 0.09% on the day at the time of writing, after hitting a fresh near 40-year high on Thursday. Investors are trimming some long positions amid the risk of intervention from Japanese authorities in the foreign exchange market, though the broader fundamental backdrop continues to favor the […]