Market news
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CFTC: FX Repositioning Dominates as Commodities Diverge
CFTC data for the week to August 11 shows speculators turning more selective, with FX repositioning dominant and gold drawing the strongest inflow.
Weekly Recap: Crypto Revenue Falls Across Major Platforms; eToro Bets $231M on TradeZero
Weak crypto markets cut Q2 digital-asset revenue at eToro, Robinhood and Coinbase, while eToro agreed to buy US brokerage TradeZero for up to $231 million.
AUD/USD bulls target 0.7100 after US retail sales miss
The Australian dollar advanced on Friday as weaker US retail sales boosted speculation the Federal Reserve may hold off on raising rates.
Mexican Peso Touches 24-Month High as USD/MXN Dips Below 17.00
USD/MXN traded below 17.00 for the first time in 24 months before buyers stepped in, while Banxico minutes remain in focus.
Societe Generale: Yuan Steady Appreciation Supported by PBoC
CNY has strengthened to 6.7424, its best level since February 2023, as dollar weakness and the PBoC’s stance support the currency, SocGen says.
XTB Examines Systematic Internalizer Model to Cut Trading Costs
XTB is exploring systematic internaliser arrangements for stock and ETF execution to cut costs while keeping zero commissions, its trading board member said. The idea remains exploratory as a PLN 20 million KNF fine keeps controls in focus.
Dollar Extends Slide Below 100 as FOMC Minutes Loom
The U.S. dollar index slipped further on Friday, staying under 100.00 at fresh lows after another round of soft U.S. data, with FOMC minutes due next week.
USD/KRW Under Pressure as Foreign Inflows Support Won: Commerzbank
Commerzbank says foreign inflows and exporter demand are supporting the South Korean won, while the Kospi has rebounded 29.5% from its late-July low.
EUR/USD Gains but 100-Day SMA at 1.1567 Caps Rally
EUR/USD rose more than 0.32% and bounced from daily lows, but the 100-day simple moving average near 1.1567 is limiting further upside.
China July Activity Data to Guide Yuan, MUFG Says
MUFG’s Asia FX Weekly notes that China’s July activity indicators, after weak second-quarter GDP, will be key for the yuan and regional currencies.
USD/JPY Steady Near 159.40 as Soft US Sentiment Meets Weak Yen
USD/JPY is little changed around 159.40 after a weak U.S. consumer sentiment reading pressured the dollar while persistent yen weakness kept the pair supported.
US Dollar Weekly Outlook: Weak Data Undermines Fed Hawkishness
Disappointing US data reduced expectations of Federal Reserve tightening, leaving the dollar under pressure while geopolitical tensions remained largely unchanged.
USD/CAD Extends Decline Below 1.4000 as Bears Eye 200-Day SMA
USD/CAD is trading around 1.3877 on Friday, extending its move below 1.4000 and heading for a third consecutive weekly loss as sellers target the 200-day SMA.
Dollar Index breaks range after fourth soft US data print
The Dollar Index held its range through three soft US releases, but Friday’s fourth consecutive soft print finally forced a downside break.
USD/SGD Consolidates Near 1.28 as Soft US PPI Tempers Fed Bets
OCBC analysts note USD/SGD is holding around 1.28 after softer US producer prices trimmed Federal Reserve hike expectations but failed to trigger a fresh dollar move.
USD/CHF snaps four-day winning streak, holds above 0.8100
USD/CHF turned negative on the day, ending a four-day run of gains while staying supported above 0.8100. Bulls are watching key resistance near 0.8150.
Gold climbs as weak US data trims Fed hike bets
Gold gained nearly 0.90% on Friday as the US dollar weakened after softer inflation data reduced expectations for a Federal Reserve rate hike.
Societe Generale Sees USD/KRW Targeting 1407 as Won Gains
Societe Generale analysts note USD/KRW has corrected below its 200-day moving average near 1478 and is now testing a 2023 ascending trend line, with 1407 seen as the next target.
USD/CNH Stays Range-Bound Near 6.7450, UOB Says
UOB analysts see USD/CNH remaining in a tight intraday range near 6.7450 as momentum indicators stay flat.
NZD/USD Gains 0.75%, Approaches 0.5900 as Dollar Slides
NZD/USD is up 0.75% on Friday, trading around 0.5895, though momentum is fading as it nears the 0.5900 level.
Silver Holds Gains but Lacks Fresh Momentum
Silver (XAG/USD) is trading higher on Friday but remains within this week's narrow range, with no strong follow-through.
Scotiabank sees euro upside bias against dollar on spreads
Scotiabank strategists say EUR/USD is trading in the mid-1.15s with modest gains, supported by euro-area GDP and a return to trade.
EUR/GBP Holds Tight Range Around Mid-0.8500s
EUR/GBP was little changed on Friday, stuck in a narrow range around the mid-0.8500s as Eurozone data landed close to forecasts.
MUFG highlights ASEAN FX data and growth concerns
MUFG analysts are watching Singapore export data and Malaysia inflation figures as regional growth concerns weigh on ASEAN currencies.