Intervention risk supports against US Dollar – Commerzbank
Michael Pfister highlights that comments from the US Treasury Secretary about having “asymmetric information” on Bank of Japan (BoJ) moves are intended to deter speculative positioning for further Japanese Yen (JPY) weakness. While an interest rate hike next week is fully priced and further tightening expected, he warns that high expectations limit upside for the […]
Gold holds steady above $4,400 as traders await US inflation data
Gold (XAU/USD) attracts some buyers after a modest Asian session dip to sub-$4,400 levels. The upside, however, seems limited as traders might refrain from placing directional bets ahead of US inflation figures. The US Producer Price Index (PPI) report will be published later this Thursday, while the US Consumer Price Index (CPI) is due on […]
Australian Dollar flatlines as US yield ripples meet RBA hawks
The Australian Dollar is virtually unchanged against the US Dollar on Wednesday amid a light economic calendar, with the US Treasury’s announcement of a buyback for the September 10 auction boosting the Greenback. The AUD/USD trades at 0.7219, flat. AUD/USD stalls as higher yields and Hormuz risks offset RBA hawks Earlier, the US Treasury released […]
US Treasury yields rise after buyback announcement, long end climbs
US Treasury yields rise on Wednesday after the United States (US) Treasury Department announces plans to buy back $6 billion of longer-term government debt, three times the size of its usual operation. The yield on the benchmark 10-year US Treasury note rises to 4.85%, while the 30-year US Treasury bond yield gains to 5.30%. Further […]
Soft despite supportive fundamentals – ING
ING’s Chris Turner notes the Dollar has been unexpectedly soft despite higher energy prices and firm short-dated US rates ahead of the US August CPI and a likely 25bp Fed hike. He highlights strong equities and a fragile USD/JPY as key drags on the Dollar and does not expect DXY to break key support immediately, […]
US Dollar: CPI outcome guides Fed path – DBS
DBS Group Research economist Eugene Leow argues that upcoming US CPI data will be crucial for the FOMC’s September decision on policy. Source link
Gold bounces off one-week low on soft USD, upside seems capped
Gold (XAU/USD) rebounds from a one-week low, around the $4,340 area touched during the Asian session on Wednesday and, for now, seems to have snapped a three-day losing streak. The Bank of Japan (BoJ)-inspired rally in the Japanese Yen (JPY) keeps the US Dollar (USD) depressed near its lowest level in over two weeks, which, […]
Head-and-Shoulders risk builds below $67
Silver price struggles to clear a key technical resistance near $67.00, retraces to two-day lows at $65.31, and records a 1.42% loss. The non-yielding metal failed to sustain its early gains amid elevated US bond yields, driven by rising inflationary pressures. XAG/USD Price Forecast: Technical Outlook The white metal appears to be forming a head-and-shoulders […]
Mexican Peso flatlines as traders brace for Mexico’s fiscal package
The Mexican Peso remains unchanged against the US Dollar on Tuesday as market participants await the release of Mexico’s Fiscal package, which will be delivered to the Mexican Congress for approval. At the time of writing, the USD/MXN trades at 16.91 flatlined. USD/MXN steadies as fiscal plan and US inflation loom On September 2, Mexican […]
ECB expectations support EUR against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret report that the Euro (EUR) is little changed near the low 1.16s as markets await Thursday’s European Central Bank (ECB) meeting, where a 25 bps hike and a hawkish tone are anticipated. They note supportive yield spreads and a fair value estimate around 1.1650, with technicals showing a […]
