RBNZ seen hiking again – TD Securities
TD Securities reviews New Zealand’s Q2 labour report, noting unemployment rose to 5.6%, an 11‑year high, partly on higher participation, while employment still grew 0.5% quarter‑on‑quarter. Private-sector wages slightly beat consensus and the RBNZ’s May forecast. Despite mixed signals, they believe the RBNZ has room for another 25 bps rate hike in September as activity […]
Weakness seen as structural against Euro – Nordea
Nordea’s Chief Analyst Jan Størup Nielsen notes that Nationalbanken did not intervene in July to support Denmark’s fixed exchange rate policy, after a small purchase of kroner in June. He argues the recent weakening of the Danish krone against the Euro reflects shifts in domestic corporate demand and expects the EUR/DKK interest rate differential to […]
Steadies around 0.7050 as bullish bias prevails
AUD/USD moves little after registering over 0.5% gains in the previous day, trading around 0.7050 during the Asian hours on Wednesday. The technical analysis of the daily chart shows that the pair is remaining within the ascending channel pattern, suggesting a prevailing bullish bias. The AUD/USD pair holds a constructive near-term bullish bias as spot […]
US nears Hormuz deal, aiming for Wednesday announcement – Axios
According to a report from Axios, the United States (US), Iran, and Oman are closing in on an interim agreement to reopen the Strait of Hormuz, with the U.S. aiming for a Wednesday announcement, sources said. The report also stated that the deal under discussion sets up a 60-day temporary arrangement between Oman and Iran […]
New Zealand Dollar softens below 0.5900 after Unemployment Rate rises to decade high
The NZD/USD pair loses momentum to near 0.5875 during the early Asian trading hours on Wednesday. The New Zealand Dollar (NZD) weakens against the US Dollar (USD) following the employment report. Traders brace for the release of China’s RatingDog Services Purchasing Managers Index (PMI) data for fresh impetus. Data released by Statistics New Zealand on […]
Stable despite widening trade deficit – Commerzbank
Commerzbank analysts note that Vietnam’s July inflation eased to 4.5% year-on-year, keeping the average near the 4.5% target, while the trade deficit widened to USD 3.6 billion on strong import growth driven by energy and capital goods. Despite external headwinds and future CBAM-related risks for steel exports, USD/VND has stayed stable around 26,277, with VND […]
Gold shines and rises on Iran’s deal hopes, lower US yields
Gold (XAU/USD) advances some 0.75% on Tuesday as Oil prices fall, along with US Treasury yields. Also, an improvement in risk appetite propelled the yellow metal to a two-day peak of $4,106. XAU/USD advances as Hormuz reopening hopes weigh in Oil, ease inflation pressures The US Dollar Index (DXY), which tracks the buck’s value against […]
Japanese Yen stalls amid soft JOLTS data
USD/JPY trades on the back foot near the 157.40 area during Tuesday’s American session as the Japanese Yen (JPY) builds on the gains secured over the past week. Softer United States (US) labor demand data has taken the edge off the US Dollar (USD), while lower energy prices offer an additional tailwind to the currency […]
JOLTS openings seen retreating – TD Securities
TD Securities strategists expect US JOLTS job openings to fall to 7.0 million in June from 7.594 million in May, below the 7.504 million consensus forecast, as the recent increase appears difficult to sustain. They expect the data to move closer to softer private-sector hiring indicators. This would contrast with July’s stronger-than-expected ISM Manufacturing reading, […]
Euro holds ground as Eurozone growth data offsets oil-driven CAD gains
EUR/CAD remains stronger for the eighth consecutive day, trading around 1.6170 during the European hours on Tuesday. The currency cross is holding its ground as the Euro (EUR) gains support from an uptick in market risk sentiment. Geopolitical tensions eased slightly after US President Donald Trump called off planned military strikes on Iran, signaling that […]
