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US Dollar: Credibility risks for USD – TD Securities
TD Securities argues that Jackson Hole is more about Federal Reserve (Fed) credibility than new guidance for the US Dollar (USD). They see rate expectations staying anchored, but warn that any failure by Chair Warsh to reaffirm the inflation mandate could weigh on USD.
US CB Consumer Confidence Index eases to 89.4 in August
US consumer sentiment loses some momentum in August, as the Conference Board’s Consumer Confidence Index recedes to 89.4 from July’s 90.2 (revised from 90.8).
US Dollar: Bond market supports cautious consolidation – ING
ING’s Francesco Pesole notes the Dollar is drawing support from the US bond market as long-dated yields stabilise, while US-Canada trade tensions and Iran-related sanctions risks complicate the outlook.
US ADP Employment Change 4-week average increases to 11.750K
Private-sector hiring in the US has gained some pace in early August. According to the NER Pulse, the weekly companion to the ADP National Employment Report, companies added an average of 11.750K jobs per week in the four weeks ending August 8.
US Dollar: Fragmentation risks and reserve diversification – MUFG
Michael Wan at MUFG discusses US threats of economic punishment on countries dealing with Iran and new sanctions on over 60 entities.
Euro: Recovery against US Dollar supported by data – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad reports EUR/USD is firmer but still below 1.1700 as Germany’s IFO survey rises to a one-year high, echoing Eurozone PMI and ZEW improvements.
Dow Jones futures advance as tech stocks rebound ahead of looming Nvidia earnings
Dow Jones futures gain by 0.18%, trading around 53,590 during European hours on Tuesday. Meanwhile, S&P 500 futures advance by 0.28%, to trade near 7,690, and Nasdaq 100 futures rise by 0.58% to trade around 29,270.
US Dollar: Policy crosscurrents shape outlook – OCBC
OCBC’s Sim Moh Siong and Christopher Wong highlight that renewed policy uncertainty and Federal Reserve (Fed) reaction risks are constraining US Dollar (USD) gains, even as higher US real yields and a resilient US economy limit downside.
GBP/USD Price Forecast: Rally pauses below 1.3700
The British Pound (GBP) trades marginally higher against the US Dollar (USD) at around 1.3640 during the European trading session on Tuesday, even as the US Dollar Index (DXY) edges up, indicating strength in the British currency.
Australian Dollar edges up as RBA keeps rate hike option quite possible
The Australian Dollar (AUD) trades slightly higher against its major currency peers, except the US Dollar (USD), on Tuesday. In the European session, the Aussie pair is slightly down to near 0.7147.
US Dollar: Data weakness keeps downside risks elevated - TD Securities
TD Securities strategists argue that the US Dollar (USD) has re-entered a bearish regime after the Treasury buyback announcement pushed the US Dollar Index (DXY) below its 200‑day SMA.
EUR/USD Price Forecast: Corrects further as US Dollar extends recovery
The Euro (EUR) trades marginally lower against the US Dollar (USD) on Tuesday, extending its corrective move from the four-day high of 1.1711 to near 1.1655 during the European trading session.
United States Dollar Index holds gains near 99.00 amid escalating geopolitical risks
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its gains for the second successive day and trading around 99.00 during the Asian hours on Tuesday.