Dow Jones Industrial Average takes another record on Tehran's terms
The Dow Jones Industrial Average (DJIA) trades near 54,500 on Wednesday, 0.76% higher and at a fresh record, roughly 1,400 points above the high it set in early July.
FX
WTI holds near three-week low as traders await Hormuz agreement
West Texas Intermediate (WTI) Crude Oil remains under pressure on Wednesday but struggles to attract fresh selling as traders await confirmation that commercial shipping through the Strait of Hormuz will resume. At the …
Canadian Dollar firms as Oil rebounds, USD softens on weaker ADP data
USD/CAD trades around 1.4040 on Wednesday at the time of writing, down 0.14% on the day, as the Canadian Dollar (CAD) benefits from a rebound in Oil prices. Crude prices received support after Yemen's Houthis claimed re…
Strategists lower Euro forecasts, remain skeptical over Yen interventions - Reuters
Reuters’ latest poll of foreign exchange strategists shows a modest downward revision in Euro (EUR) forecasts while highlighting persistent market skepticism over the effectiveness of Japanese currency intervention.
Oil: Geopolitics test supply routes – BNY
BNY’s Geoff Yu reports Oil prices rose after the Houthis claimed a missile strike on a Saudi tanker near Yanbu, highlighting risks to alternative export routes while Strait of Hormuz disruptions persist. He notes Washin…
Japanese Yen edges higher after weak US employment data
USD/JPY trades under modest pressure on Wednesday as easing tensions in the Middle East and weaker US labour market data weigh on the US Dollar (USD). At the time of writing, the pair trades around 157.45, down 0.2% on …
Indian Rupee: RBI stance and inflows support Rupee – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad reports USD/INR is firmer after recently testing a one‑month low, following the Reserve Bank of India’s (RBI) unanimous decision to keep its policy rate at 5.25% and maintain…
New Zealand Dollar: 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…
Gold nears $4,200 on softer US labour data as Fed outlook turns less hawkish
Gold (XAU/USD) jumps more than 2.50% on Wednesday as weaker-than-expected US labour market data pressures the US Dollar (USD), while lower Oil prices on hopes of reopening the Strait of Hormuz ease inflation concerns an…
USD/JPY: Japan Bought Time, Not Yet a Stronger Yen
The dollar fell as much as 3% against the Japanese yen on Thursday in its biggest single-day drop since late 2022, as currency analysts across three continents pointed to one explanation: Japan's Ministry of Finance had…
Sterling today: Pound holds above $1.34 as dollar stays firm on Fed hike risk
The British pound sterling traded at N1,827/£1 against the naira at the start of the midweek session in the Nigerian foreign exchange market, with black market rates fluctuating slightly higher based on local liquidity.
Mexican Peso rallies to six-week high on Hormuz deal speculation
The Mexican Peso (MXN) surges to a six-week high on Tuesday as talks between the US and Iran could reopen the Strait of Hormuz, easing global inflationary pressures by freeing ship traffic. At the time of writing, the U…
Nothing Britain does moves the Pound against the Dollar
The Pound Sterling (GBP) trades near 1.3450 against the US Dollar (USD) on Tuesday, higher by 0.11% inside a session range of 36 pips, the second sub-40-pip day cable has produced inside a week. The pair holds above the…
Forex Today: Oil extends collapse on Hormuz reopening reports, Silver surges
Oil prices extended their slide on Tuesday after reports that an announcement on the reopening of the Strait of Hormuz could come within hours. Al Arabiya and Al Hadath, citing high-level sources, said communications ar…
Chinese Yuan: PMI weakness boosts easing expectations – Commerzbank
Commerzbank economist Dr. Henry Hao highlights that China’s private manufacturing PMI fell to 50.9 in July, reinforcing signs of slowing factory momentum alongside the official NBS PMI at 49.2. The weaker data strengthe…
Chinese Yuan: Strengthening toward 6.7300 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang sees USD/CNH trading slightly higher within a developing range, with intraday levels expected between 6.7500 and 6.7620. On a 1–3 week horizon, the pair could continue to edge…
Vietnam Dong: 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 a…
USD/JPY Faces Its First Test After Intervention
Speculation of intervention had been building for weeks as USD/JPY climbed back towards its 2024 highs. What caught markets off guard was the coordinated action with the US Treasury, giving last week’s intervention cons…
Euro advances as ECB tightening expectations, Japan fiscal concerns weigh on Yen
EUR/JPY trades around 181.70 on Tuesday, up 0.44% on the day at the time of writing, supported by renewed optimism surrounding the Euro (EUR) and persistent weakness in the Japanese Yen (JPY).
Japanese Yen: Managed JPY signals new order – Rabobank
Rabobank’s Senior Market Strategist Benjamin Picton highlights coordinated action between the US Treasury and Japan’s Ministry of Finance (MoF) to defend the Japanese Yen (JPY), framing it as a potential “financial Fort…
US Dollar: NFP and inflation mix complicate Fed path – BNY
BNY strategists John Velis and David Tam highlight the July Nonfarm Payrolls (NFP) report and upcoming Consumer Price Index (CPI) releases as key inputs for the Fed. They see consensus around 80,000 jobs, with a breakev…
US Dollar Index: Downside bias within defined range – UOB
United Overseas Bank’s (UOB) Quek Ser Leang notes that the USD Index bias has shifted to the downside after failing to break above the weekly Ichimoku cloud and instead plunging below the 55-week EMA. However, flat EMAs…
Sterling today: Pound rises against dollar despite greenback rebound
The U.S. dollar has been under pressure in recent months, driven by factors including trade policy uncertainty, interest rate fluctuations and geopolitical tensions. The U.S. Dollar Index — which tracks the strength of …
South African Rand: Rate hold seen hurting currency – Commerzbank
Commerzbank’s Volkmar Baur writes that despite South Africa’s reasonable recent performance under pressure from the Iran conflict, the central bank’s July decision to leave its key rate unchanged was surprising. With re…