BoK tightening supports KRW against US Dollar – Commerzbank
Commerzbank’s Charlie Lay reports that the Bank of Korea (BoK) delivered a second consecutive 25 bp hike to 3.0% and kept a tightening bias, supporting KRW after its sharp appreciation since June. The bank expects a near-term pause but sees scope for another hike to 3.25% if growth and core inflation stay firm, with USD/KRW […]
BoK front-loading hikes as KRW consolidates – Commerzbank
Commerzbank’s Charlie Lay reports the Bank of Korea has delivered back-to-back 25bp hikes to 3.0%, front-loading tightening as growth and core inflation forecasts rise. The bank signals one more hike over six months but may pause to assess effects. Despite strong fundamentals and a huge current-account surplus, further KRW gains versus USD are expected to […]
False breakout and hawkish Fed sink XAG
Silver (XAG/USD) price made a U-turn after reaching a two-month high of $71.12 on Friday, then dove below the $69.00 figure as Federal Reserve (Fed) Chair Kevin Warsh leaned hawkish in his Jackson Hole speech, pushing US Treasury yields higher. Consequently, the white metal edged lower, with XAG/USD trading at $66.76, down 3.60%, at the […]
Dovish Fed repricing risk grows – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad notes the US Dollar (USD) is mixed near a one‑week high as major FX pairs test key technical levels, including EUR/USD at its 200‑day moving average and USD/JPY near 160.00. Haddad highlights divergent Fed commentary around Jackson Hole but aligns with Susan Collins’ view that policy is mildly restrictive, […]
Range phase caps recent advance against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann report EUR/USD held near 1.1650 after a brief dip, with intraday action lacking strong downside momentum. They judge the earlier bullish phase has faded after a break of strong support at 1.1640, shifting to a range between 1.1600 and 1.1685 in the coming days. […]
XAG/USD slips below $69.00 ahead of Fed Chair speech
Silver price (XAG/USD) depreciates after registering modest gains in the previous day, trading around $68.80 per troy ounce during the Asian hours on Friday. Silver price drops as investors adopt a cautious stance ahead of Federal Reserve (Fed) Chair Kevin Warsh’s upcoming speech at the annual Jackson Hole symposium, where markets hope to gain clarity […]
Why is WTI depreciating despite rising eastern European tensions?
West Texas Intermediate (WTI) oil price declines after two days of gains, trading around $82.70 per barrel during the Asian hours on Friday. Crude oil prices may regain their footing as intensifying conflicts in Eastern Europe pull market attention away from the Middle East. Recent statements from Russian President Vladimir Putin indicate that negotiations with […]
Near-term downside risks against US Dollar – OCBC
OCBC Bank strategists Sim Moh Siong and Christopher Wong note that USD/SGD traded slightly firmer as resilient US data halted US Dollar downside pressure, though the pair remains subdued and rangebound ahead of Chair Warsh’s Jackson Hole speech. Daily momentum remains mildly bearish, but RSI is turning higher from near-oversold conditions, leaving room for some […]
Japanese Yen remains fragile ahead of Tokyo CPI, Warsh’s Jackson Hole speech
USD/JPY trades in a narrow range below 160 on Thursday, with neither side able to build strong momentum. The US Dollar (USD) is struggling to extend Wednesday’s recovery, while persistent weakness in the Japanese Yen (JPY) continues to keep the pair supported. At the time of writing, USD/JPY trades around 159.30. The Yen remains one […]
Swedish Krona: Inflation risks may prompt tougher Riksbank stance
BNY’s Geoff Yu says rising Swedish import prices and continued weakness in the krona are adding to inflation risks. He expects the Riksbank to adopt firmer language on SEK valuations and sees scope for the market to bring forward expectations for the next rate hike. Inflation risks support earlier Riksbank tightening “We remain perplexed by […]
