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Mexican Peso: Carry flows outpace fundamentals – BNY
BNY’s Geoff Yu highlights that Mexican Peso (MXN) carry demand is surging ahead of Banxico’s decision, with MXN the best-bought currency on a weekly basis. However, weak volumes, deteriorating equity flows and only modest sovereign bond demand temper the story.
Russia Central Bank Reserves $: $720.3B vs previous $732.1B
Russia Central Bank Reserves $: $720.3B vs previous $732.1B
Australian Dollar: Modest upside bias into 12 months – Rabobank
Rabobank’s Senior FX Strategist Jane Foley notes AUD/USD has trended higher since July, mainly due to a softer US Dollar (USD), with the Australian Dollar (AUD) mid-pack versus G10 peers.
US Initial Jobless Claims increased to 199K last week
According to a report from the US Department of Labor (DOL) released on Thursday, the number of US citizens submitting new applications for unemployment insurance rose marginally to 199K for the week ending August 1.
Swedish Krona: Hotter core supports SEK against Euro – ING
ING’s FX Strategist Francesco Pesole notes Sweden’s core CPIF excluding energy rose to 0.6% in July, giving the Swedish Krona (SEK) a modest boost, while headline inflation slowed as expected.
United States Unit Labor Costs registered at 1.3%, below expectations (2%) in 2Q
United States Unit Labor Costs registered at 1.3%, below expectations (2%) in 2Q
United States Continuing Jobless Claims came in at 1.801M, above expectations (1.79M) in July 24
United States Continuing Jobless Claims came in at 1.801M, above expectations (1.79M) in July 24
United States Nonfarm Productivity above forecasts (0.6%) in 2Q: Actual (1.4%)
United States Nonfarm Productivity above forecasts (0.6%) in 2Q: Actual (1.4%)
United States Initial Jobless Claims 4-week average: 198.75K (July 31) vs previous 202.75K
United States Initial Jobless Claims 4-week average: 198.75K (July 31) vs previous 202.75K
United States Initial Jobless Claims came in at 199K below forecasts (202K) in July 31
United States Initial Jobless Claims came in at 199K below forecasts (202K) in July 31
Japanese Yen: Retail flows reshape post-intervention dynamics – MUFG
MUFG notes that USD/JPY remains well below pre-intervention levels. Japanese retail traders entered the episode with a record short position in the pair and likely covered those positions during the intervention-led decline, partially offsetting official yen purchases.
GBP/JPY Price Forecast: 200-day SMA holds as downside risks linger
GBP/JPY trades in a narrow range on Thursday, with the British Pound (GBP) modestly outperforming the Japanese Yen (JPY). The Yen stays on the back foot for a third consecutive day, reversing part of the intervention-driven rally that briefly sent GBP/JPY below 210.00 at the start of the week.
Indian Rupee: Lower oil and inflows support INR against US Dollar – OCBC
OCBC’s Christopher Wong and Sim Moh Siong highlight that the Reserve Bank of India's (RBI) decision to hold the repo rate at 5.25% while lowering inflation forecasts and nudging growth higher, alongside strong capital inflows, has put India’s balance of payments on track for a healthy surplus.