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Japanese Yen: Mild upside bias against US Dollar within range - UOB
United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann observe that USD/JPY held within 157.67–158.33 on Friday, closing almost unchanged at 157.99. Short-term momentum is tilting lower, with scope to test 157.50, though a decisive break below that level is not expected.
South Africa Business Confidence Index: 135.1 (August) vs 125.4
South Africa Business Confidence Index: 135.1 (August) vs 125.4
Canadian Dollar: Strength against US Dollar tests key levels – Societe Generale
Societe Generale’s Kenneth Broux notes that USD/CAD has reversed from overbought territory near 1.43 and broken below a recent consolidation floor at 1.4200.
South Africa Business Confidence Index: 134.3 (August) vs 125.4
South Africa Business Confidence Index: 134.3 (August) vs 125.4
Euro drops against Canadian Dollar amid wave of protests in Europe
EUR/CAD remains in negative territory after experiencing volatility, trading around 1.5800 during European hours on Monday. The currency cross opened at a bearish gap as the Euro (EUR) faces headwinds from widespread unrest in France.
Australian Dollar sticks to hawkish RBA and upbeat China GDP-inspired gains vs weak Yen
The AUD/JPY cross attracts follow-through buying for the second straight day, recovering further from an eight-month low, around the 108.65 region, touched last Thursday.
Euro: French risks cap upside against US Dollar – ING
ING’s Francesco Pesole says EUR/USD is modestly undervalued versus short-term fair value around 1.137–1.139, but ongoing French fiscal concerns and protests may limit gains. He sees risks as balanced, with downside from France and upside from further AI-related pressure on Fed expectations, and keeps a one-month EUR/USD target at 1.130.
Polish Zloty: Politics weighs on PLN performance against Euro – Commerzbank
Commerzbank’s Tatha Ghose highlights that while CE3 currencies have stabilized with the Euro, the Polish Zloty continues to underperform peers. He links this to institutional frictions between Poland’s government, president and central bank over NBP board appointments.
Euro struggles below 1.1200 vs USD amid escalating fiscal and political risks in France
The EUR/USD pair struggles to capitalize on a modest intraday bounce from the 1.1185 area and retains a mildly negative bias through the early European session on Monday.
British Pound: Upside momentum targets 1.3405 against US Dollar – UOB
United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann note GBP/USD surprised with a stronger-than-expected surge to 1.3371 before easing to 1.3329. Intraday, the British Pound (GBP) is now seen consolidating between 1.3290 and 1.3360 as overbought conditions cool. Over the next 1–3 weeks, however, upward momentum is still building, and UOB sees scope for a push toward resistance at 1.3405 while support sits at 1.3260.
Forex Today: Major pairs hold steady to start new week
Here is what you need to know on Monday, October 19:
Equities: AI trade unwind weighs on tech – Danske Bank
Danske Bank’s Danske Research Team highlights that US equities saw a sharp AI-related selloff on Friday, with energy outperforming technology by more than 4 percentage points. The SOX index logged an eighth straight decline, its longest losing streak since 2006, underscoring concentrated weakness in AI names. Early Monday, sentiment looks more constructive with US futures, led by Nasdaq, trading higher.
Breaking: Canada headline CPI came in at 3.1% YoY in September
Canada’s inflation picked up pace in September, with the headline Consumer Price Index (CPI) rising 3.1% from a year earlier, missing market expectations and up from the 3.0% increase recorded in August. On a monthly basis, prices rose by 0.1%.