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British Pound: Energy-driven inflation risks support GBP against US Dollar – MUFG
MUFG highlights that rising European natural gas prices are reviving inflation risks, which could push the Bank of England toward another rate hike and underpin the Pound.
Euro: Options show benefits from US policy doubts – Commerzbank
Commerzbank’s Michael Pfister reviews EUR/USD options, noting that risk reversals turned positive again after comments by the US Treasury Secretary.
Eurozone Business Climate down to -0.23 in August from previous -0.19
Eurozone Business Climate down to -0.23 in August from previous -0.19
Italy Consumer Confidence below forecasts (95) in August: Actual (94.5)
Italy Consumer Confidence below forecasts (95) in August: Actual (94.5)
Italy Business Confidence came in at 89.9 below forecasts (90) in August
Italy Business Confidence came in at 89.9 below forecasts (90) in August
Greece Producer Price Index (YoY) climbed from previous 8.8% to 11.8% in July
Greece Producer Price Index (YoY) climbed from previous 8.8% to 11.8% in July
Eurozone Services Sentiment above expectations (4.9) in August: Actual (5.8)
Eurozone Services Sentiment above expectations (4.9) in August: Actual (5.8)
Eurozone Industrial Confidence came in at -5.3, below expectations (-5.2) in August
Eurozone Industrial Confidence came in at -5.3, below expectations (-5.2) in August
Eurozone Consumer Confidence meets forecasts (-15.5) in August
Eurozone Consumer Confidence meets forecasts (-15.5) in August
Eurozone Economic Sentiment Indicator above expectations (97.5) in August: Actual (98.4)
Eurozone Economic Sentiment Indicator above expectations (97.5) in August: Actual (98.4)
Swiss Franc consolidates recent losses with the focus turning to Fed’s Warsh
The Swiss Franc (CHF) trades marginally lower against a somewhat firmer US Dollar (USD) on Friday, with market volatility subdued as investors await the speech of the Federal Reserve (Fed) Chairman, Kevin Warsh, at the Jackson Hole Symposium, due later on the day.
New Zealand Dollar: Bearish stance maintained on rate hike pricing – TD Securities
TD Securities’ FX strategist Howard Du maintains a bearish New Zealand Dollar (NZD) bias, noting that Reserve Bank of New Zealand (RBNZ) tightening is largely priced and NZD positioning has normalized.
Japanese Yen: Range trading remains intact against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note USD/JPY held in a narrow band around 159.35, with a slight uptick in upward momentum. They expect this to translate into trading between 159.15 and 159.65 rather than a sustained advance.