Market news
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US Consumer Sentiment Set to Ease in August
The University of Michigan's preliminary August consumer sentiment index is expected to soften as inflation and labor market worries weigh on households.
Euro holds above 1.1550 after eurozone GDP and trade data
The euro kept moderate gains against the US dollar on Friday after eurozone GDP matched forecasts and June trade balance data exceeded expectations.
ING strategists see scope for weaker US dollar
ING's FX team says post-CPI summer conditions are damping volatility and keeping the dollar broadly stable, but it still sees room for a softer greenback.
UOB sees bearish yen bias within 158.00–160.20 vs dollar
UOB analysts view the Japanese yen with a bearish bias against the US dollar within a 158.00–160.20 range, though near-term USD/JPY action is inconclusive.
Silver Prices Rise 0.48% to $64.76 per Ounce
Silver (XAG/USD) traded at $64.76 per troy ounce on Friday, up 0.48% from $64.45, according to FXStreet data.
SocGen Warns Election, Fiscal Risks Threaten Brazilian Real
Societe Generale's Dev Ashish flags election and fiscal risks weighing on Brazilian assets, with the real underperforming in Latin America.
RBA Leaves Rates Unchanged but Keeps Hike Option Open
The Reserve Bank of Australia kept its policy rate steady while retaining the option to hike further, according to Rabobank strategist Elwin de Groot.
Dollar Index Slides to 99.70 as Fed Rate-Hike Bets Recede
The US Dollar Index pulls back to the 99.75–99.70 area on Friday, retreating from a two-week high as market expectations for further Fed tightening fade.
GBP/USD climbs back above 1.3500 as dollar softens
GBP/USD has recovered above the 1.3500 level, supported by broad US dollar weakness after soft inflation and labour market signals.
MUFG: Sterling resilience supports GBP/USD above 1.3500
MUFG's Lee Hardman notes the British pound is the best performing major currency in August, with GBP/USD back above 1.3500 as the UK economy shows resilience to the energy price shock linked to the US-Iran conflict.
OCBC: Softer PPI, Lower Yields Trim Fed Hike Bets and Limit Dollar
OCBC analysts say softer US PPI and lower Treasury yields have reduced market expectations for a September Fed hike, limiting the US dollar.
EUR/JPY Holds Flat Around 183.85
EUR/JPY traded little changed near 183.85 in European hours on Friday, consolidating as markets look for fresh cues on possible US-Japan yen intervention.
BoJ Rate-Hike Bets Firm, Reinforcing Yen Support
Commerzbank says Japanese government signals have strengthened market expectations for an imminent Bank of Japan rate hike, with September seen as a possible start and October fully priced.
EUR/USD steadies as soft US inflation trims Fed hike bets
EUR/USD traded at 1.1537 on Friday as markets weighed softer US inflation and reduced expectations for a Federal Reserve rate hike.
Hawkish ECB Expectations Lift Euro Against Dollar
EUR/USD edged up about 0.17% to around 1.1550 in European trading on Friday, supported by expectations that the ECB will raise interest rates.
USD Softens as Yields Fall and Fed Hike Bets Recede
MUFG's Lee Hardman says the U.S. dollar is trading on a softer footing as softer labor data and a mixed PPI prompt markets to scale back Federal Reserve rate hike expectations.
EUR/USD Looks Cheap as Summer Trading Keeps Volatility Subdued
FX analysts note EUR/USD remains largely rangebound in quiet post-CPI summer conditions, but models point to short-term undervaluation and a moderately bullish bias.
Aussie Dollar Firms as US Dollar Softens Before Retail Sales
AUD/USD edged higher on Friday as hawkish RBA commentary supported the Australian dollar while markets awaited US retail sales data.
Canadian Dollar Strengthens on Easing Fed Rate-Hike Bets
USD/CAD drew sellers near 1.3910 in early European trading Friday as cooler US inflation data tempered aggressive Federal Reserve tightening expectations.
NZD/USD Steadies as Hawkish RBNZ Bets Support Kiwi
NZD/USD traded near 0.5870 in early European hours on Friday, breaking a four-day losing streak as markets continued to price in a potential RBNZ rate hike.
British Pound slips against yen as hawkish BoJ bets build
GBP/JPY faces mild selling pressure in European trading as markets lean toward a more hawkish Bank of Japan.
Yen Recovery Hinges on Faster BoJ Normalization, OCBC Says
OCBC analysts note a sharp rise in expectations for a September Bank of Japan hike, while the yen has so far shown only a limited reaction.
US Dollar Mixed as Labor Market Slows, Commerzbank Says
Commerzbank analysts say the US dollar remains supported even as labor market data sends mixed signals, with low hiring and firing alongside very low jobless claims and unemployment.
Euro Holds Modest Gains Against Pound, Stalls Below 0.8550
EUR/GBP is nearly unchanged on Friday after rebounding from three-week lows, but upside momentum remains limited near 0.8550.