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Euro: Recovery holds within 1.15–1.16 band against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret describe the Euro (EUR) as steady in the mid-to-lower 1.15 area, trading close to fair value based on 2-year US–Germany spreads. Fundamentals and sentiment are seen as constructive, underpinning EUR recovery since early Q3.
Brazilian Real: Flows support carry resilience – BNY
BNY’s Geoff Yu notes Brazilian portfolio inflows are near post-COVID highs ahead of the Selic decision, with strong demand for equities and government bonds.
Euro edges higher as weak US labor data, lower Oil prices temper Fed hike bets
EUR/USD trades modestly higher on Wednesday as weaker-than-expected US labor market data and easing energy-driven inflation risks temper Federal Reserve (Fed) rate-hike expectations and weigh on the US Dollar (USD).
New Zealand Dollar: Labor slack tempers strong jobs data – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad notes the New Zealand Dollar and local yields slumped after strong Q2 employment and wage gains were offset by rising labor supply and higher unemployment.
United States ISM Services PMI came in at 54.1 below forecasts (54.5) in July
United States ISM Services PMI came in at 54.1 below forecasts (54.5) in July
United States ISM Services Prices Paid increased to 70.3 in July from previous 67.7
United States ISM Services Prices Paid increased to 70.3 in July from previous 67.7
United States ISM Services New Orders Index rose from previous 55.1Â to 57.2 in July
United States ISM Services New Orders Index rose from previous 55.1Â to 57.2 in July
United States ISM Services Employment Index declined to 47.4 in July from previous 51.2
United States ISM Services Employment Index declined to 47.4 in July from previous 51.2
United States S&P Global Composite PMI came in at 54.5, above forecasts (53.6) in July
United States S&P Global Composite PMI came in at 54.5, above forecasts (53.6) in July
United States S&P Global Services PMI above forecasts (53.6) in July: Actual (54.6)
United States S&P Global Services PMI above forecasts (53.6) in July: Actual (54.6)
Indian Rupee: RBI seen defending 97 band onshore – Societe Generale
Societe Generale’s Kunal Kundu and Galvin Chia judge the Reserve Bank of India's (RBI) August policy outcome as neutral for the Indian Rupee (INR). They highlight fewer comments on INR and flows, but recall Governor Malhotra’s view that INR is not undervalued.
Japanese Yen: Intervention drop seen capped near 153 – TD Securities
TD Securities strategists see the recent intervention-driven USD/JPY decline as cyclical rather than regime-changing. They expect December as the more likely timing for the next Bank of Japan (BoJ) hike and doubt sustained joint US‑Japan intervention support.
British Pound: Sterling pressured into autumn against Euro – Rabobank
Rabobank's Senior FX Strategist Jane Foley discusses recent British Pound (GBP) weakness versus the Euro (EUR), linking it to reduced Bank of England (BoE) tightening expectations and political developments under UK Prime Minister Burnham.