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USD/JPY Near 40-Year High Raises Intervention Risk
The dollar-yen pair has climbed back toward multi-decade highs, stoking fears that Japanese authorities may step in to slow yen weakness.
Wells Fargo: Japan Wage Data Supports BOJ Rate Hike Path
Wells Fargo Economics says Japan’s May labor cash earnings confirm a sustained wage-price cycle, reinforcing the case for further BOJ monetary tightening.
BoE DMP Survey: One‑Year Inflation Expectations Ease in June
The June UK Decision Maker Panel survey indicates a moderation in one‑year inflation expectations, while three‑year expectations remain near prior levels, according to TD Securities.
ING Warns of Elevated Yen Intervention Risk on US Holiday Liquidity
ING strategist Francesco Pesole flags heightened risk of Japanese FX intervention amid thin US holiday liquidity, noting that an initial drop in USD/JPY may have already involved official action.
Euro Edges Higher After Weak NFP Data Softens US Dollar
The euro gained against the US dollar following a disappointing June NFP report, which showed only 57,000 jobs added, missing market expectations.
MUFG: Energy Risks Keep ECB Hawkish, Support EUR/USD
MUFG's Derek Halpenny notes that elevated LNG prices versus pre-conflict levels keep Eurozone inflation risks, supporting a hawkish ECB bias and potential EUR/USD gains from USD weakness.
SA Rand Rises on Sukuk Bond Issuance Plans
South Africa's National Treasury plans to issue existing rand-denominated sukuk bonds in the current fiscal year, boosting the rand. Societe Generale strategists note the positive impact.
Gold Extends Gains as Weak US NFP Data Dents Fed Rate Hike Expectations
Gold (XAU/USD) extended gains on Friday after weaker-than-expected US Nonfarm Payrolls data weighed on the US Dollar and reduced expectations of an imminent Federal Reserve interest rate hike.
EUR/USD Struggles at 1.1475 Resistance Despite Dollar Weakness
The euro extended gains for a second session on Friday as the US dollar softened after disappointing jobs data, but EUR/USD failed to break above the key 1.1475 resistance level.
TD Securities Forecasts ISM Services Index Decline in June
TD Securities strategists expect the ISM Services index to retreat in June, signaling broad-based slowing in US activity and new orders, with employment remaining weak.
Dollar Index Heads for Negative Weekly Close on Weak Jobs Data
The US Dollar Index is set for a negative weekly close after weak Nonfarm Payrolls data for June prompted traders to dial back hawkish Federal Reserve rate expectations.
USD/JPY Plunge to 160.62 Shifts Bias Lower – UOB
UOB's Quek Ser Leang notes USD/JPY's unexpected drop to 160.62 has shifted short-term bias lower, though oversold conditions may allow a rebound within 160.80–161.90.
EUR/USD Stalls Below 1.1475 Despite US Dollar Weakness
The Euro trades higher for a second day after disappointing US jobs data, but the pair struggles to break resistance at 1.1475.
Wells Fargo: Canada Labor Stability Supports BoC Pause
Wells Fargo Economics notes Canada's labor market is soft but stabilizing, with employment growth under 1% year over year and gains concentrated in full-time positions, favoring a Bank of Canada pause.
Australian Dollar Gains as Risk-On Mood and Hawkish RBA Bets Boost AUD
The Australian Dollar (AUD) rose against major peers during European trading on Friday, with AUD/USD near 0.6940, as risk appetite and expectations of a more hawkish Reserve Bank of Australia (RBA) outweighed a slight cooling in Federal Reserve hawkishness.
US Dollar Hits Two-Week Low on Weak Jobs Data
The US dollar fell to a two-week low after June non-farm payrolls rose by only 57,000, with downward revisions for April and May adding to the disappointment.
ECB September: Hike case slightly outweighs hold, analysts say
Markets see even odds of a 25bp hike versus a hold at the September ECB meeting. Analysts argue the case for another rate increase slightly outweighs the case for unchanged policy.
Yen Rises on Soft US Jobs Data, Commerzbank Says
Commerzbank analysts attribute the yen's recent strength to weaker-than-expected US non-farm payrolls and reduced expectations for Fed rate hikes, which pressured the dollar and drove USD/JPY lower.
Japanese Yen Surges from 162.60 to 160.60 in Single Session
The Japanese Yen staged a sharp recovery against the US Dollar, moving from a 40-year low near 162.50 to the 160-61 range in a single session.
MUFG: Softer US Jobs Data May Trigger Fed Policy Shift Toward Cuts
MUFG strategist Derek Halpenny argues that weaker US labour data should prompt markets to reprice Fed expectations from rate hikes to a greater risk of cuts, citing softer nonfarm payrolls, deteriorating sentiment, and receding inflation.
US Dollar Weakens as June Employment Report Shows Cooling Beyond Expectations
The US dollar declined broadly after the June employment report indicated a greater-than-expected slowdown in the labor market.
EUR/USD Rally Likely to Stall Below 1.16, ING Says
ING strategist Francesco Pesole warns that EUR/USD rallies are likely to fade below 1.16, citing a lack of strong bullish drivers for the euro, ongoing doubts about further ECB rate hikes, and headwinds from softer inflation and low oil prices.
Silver Rises to $62.60, Up 2.72% on Friday
Silver prices (XAG/USD) rose on Friday, trading at $62.60 per troy ounce, a 2.72% increase from the previous close of $60.94.
Wells Fargo: Mexico Disinflation Keeps Banxico on Hold
Wells Fargo Economics expects Mexico’s June CPI to confirm gradual disinflation, with headline and core inflation easing but services prices still elevated, keeping Banxico on hold.