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Japanese Yen: Broad range holds despite weak momentum against US Dollar – UOB
United Overseas Bank (UOB) strategist Quek Ser Leang observes USD/JPY fluctuated between 156.94 and 158.21, closing at 157.83, with intraday trading expected inside 157.10–158.10. Over 1–3 weeks, he now favours a broad consolidation between 156.35 and 158.70 rather than deeper pullbacks. On a 1–3 month horizon, however, he still flags rapid downside momentum that could drive further weakness toward the January low at 152.08.
Euro loses against Canadian Dollar as ECB’s Lane warns economic growth concerns
EUR/CAD has pared its recent gains from the previous trading day, hovering around 1.5970 during European hours on Monday. The currency cross depreciates as the Euro (EUR) remains under pressure following the release of Final HCOB Purchasing Managers’ Index (PMI) data from Germany and the Eurozone.
ECB’s Lane: Rise in long-term rates will slow growth
European Central Bank (ECB) Chief Economist Philip Lane warns of moderate economic growth due to higher long-term rates. Regarding inflation, Lane said that medium-term inflation expectations are still de-anchored.
Forex Today: Euro selloff picks up steam, US Dollar ignores easing rate hike bets
Here is what you need to know on Monday, October 5:
Euro: Fiscal contagion fears weigh on single currency – MUFG
MUFG’s Lee Hardman highlights that Euro (EUR) weakness at the start of the week reflects mounting concerns over destabilizing financial conditions in the Euro-zone, triggered by a sharp sell-off in French government bonds.
Italy Public Deficit/GDP above forecasts (0%) in 2Q: Actual (2%)
Italy Public Deficit/GDP above forecasts (0%) in 2Q: Actual (2%)
Eurozone HCOB Services PMI meets expectations (53) in September
Eurozone HCOB Services PMI meets expectations (53) in September
Eurozone HCOB Composite PMI meets forecasts (53.1) in September
Eurozone HCOB Composite PMI meets forecasts (53.1) in September
Germany HCOB Services PMI meets expectations (52.9) in September
Germany HCOB Services PMI meets expectations (52.9) in September
Germany HCOB Composite PMI in line with forecasts (53.8) in September
Germany HCOB Composite PMI in line with forecasts (53.8) in September
France HCOB Services PMI below expectations (51.4) in September: Actual (51.2)
France HCOB Services PMI below expectations (51.4) in September: Actual (51.2)
France HCOB Composite PMI came in at 51.1, below expectations (51.2) in September
France HCOB Composite PMI came in at 51.1, below expectations (51.2) in September
Italy HCOB Services PMI below expectations (54.6) in September: Actual (51.7)
Italy HCOB Services PMI below expectations (54.6) in September: Actual (51.7)