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Australian Dollar eases from four-month high
The Australian Dollar eased against the US Dollar on Thursday, slipping back below the 0.7200 mark after touching its highest level since mid-May earlier in the week. AUD/USD trades in the 0.7160 area, lower on the day, as a firmer US Dollar pulls the pair away from a recent peak around 0.7220.
European Central Bank: Two more hikes remain the baseline – Nordea
Nordea analysts Jan von Gerich and Tuuli Koivu note that the European Central Bank (ECB) delivered a 25bp rate hike and signalled a bias toward further tightening as its projections show Eurozone inflation above target through 2028.
United States EIA Natural Gas Storage Change came in at 40B, above expectations (35B) in September 4
United States EIA Natural Gas Storage Change came in at 40B, above expectations (35B) in September 4
Euro gains modestly against British Pound after ECB delivers widely expected hike
EUR/GBP trades with a modest positive bias on Thursday but stays within the narrow range that has been in place for more than a week.
Canadian Dollar: Range trade with upside bias against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note USD/CAD is holding a tight sideways range near 1.38 with no domestic data, leaving the Canadian Dollar (CAD) driven by external factors and technicals.
Japanese Yen: BoJ risks skewed to stronger Yen – BBH
Brown Brothers Harriman's (BBH) Elias Haddad reports that the recent USD/JPY decline has stalled despite hawkish comments from Bank of Japan (BoJ) member Kazuyuki Masu, with markets already pricing a 25 bps hike to 1.25% on September 18.
United States Existing Home Sales (MoM) in line with forecasts (3.98M) in August
United States Existing Home Sales (MoM) in line with forecasts (3.98M) in August
United States Wholesale Inventories meets expectations (1.3%) in July
United States Wholesale Inventories meets expectations (1.3%) in July
United States Existing Home Sales Change (MoM) down to -2% in August from previous -1.7%
United States Existing Home Sales Change (MoM) down to -2% in August from previous -1.7%
Japanese Yen comes under pressure as US PPI data boost US Dollar
USD/JPY advances to around 154.15 on Thursday at the time of writing, up 0.40% on the day. The pair benefits from a rebound in the US Dollar (USD), supported by US data showing accelerating producer price pressures and a still-resilient labor market.
Copper: Record prices with real constraints – NBC
National Bank of Canada's (NBC) Kyle Dahms highlights that Copper has reached a fresh nominal record, driven by AI-related data-centre demand, electricity grid expansion, tariff-driven stockpiling and supply disruptions.
Lagarde speech: Surprised by economic resilience
Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to raise key rates by 25 basis points (bps) at the September policy meeting and responds to questions from the press.
Gold: Near-term selling may only delay next leg higher - TD Securities
TD Securities’ Ryan McKay and Bart Melek note that Gold is outperforming other precious metals even as higher energy prices and rising Fed hike expectations weigh on the complex.