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South Korea Current Account Balance: 449.73B (June) vs 38.61B
South Korea Current Account Balance: 449.73B (June) vs 38.61B
Brazil Interest Rate Decision in line with forecasts (14%)
Brazil Interest Rate Decision in line with forecasts (14%)
Record intervention bought the Japanese Yen a return to mid-May
The pair changes hands just above 157.50, flat on the session and sitting directly on a 200-day Exponential Moving Average (EMA) that has risen to meet it. The range covers less than 60 pips.
Chinese Yuan: Gradual strengthening against US Dollar toward 6.7300 – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann reports USD/CNH slipped to 6.7459 after failing to extend a modest bounce, with limited downside momentum. Intraday, they see potential to test last week’s 6.7420 low but doubt a sustained break below.
Australian Dollar hits a seven-week high on nothing Australian
The Aussie is trading just above 0.7050 after a gain of not quite two tenths of a percent, its best level in seven weeks and the first time since mid-June that price has held clear of the 50-day Exponential Moving Average (EMA) near 0.7000.
Indonesia: Growth-inflation mix supports steady BI stance – DBS
DBS Group Research economist Radhika Rao notes Indonesia’s onshore markets are focused on the appointment of a new Bank Indonesia Governor after Perry Warjiyo’s departure, with Acting Governor Destry Damayanti prioritising non-rate measures and IDR liquidity.
Pound Sterling cannot break its range with Britain on recess
Monday's session did the entire week's work in a single candle, reclaiming the moving-average band that had capped every rally since mid-July and stalling just short of 1.3500. The two sessions since have traded wholly inside it.
South Korean Won: Strength extends on intervention talk against US Dollar – Commerzbank
Commerzbank economists highlight ongoing Korean Won (KRW) appreciation against the Dollar. USD/KRW slipped 0.1% to 1,430, extending declines from earlier in the week.
Singapore Dollar: Break of 1.2790 may unlock further gains – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note USD/SGD was broadly flat on Tuesday, with SGD NEER trading 1.5–2.0% above its mid-point, implying a 1.2773–1.2837 range. Intraday, they expect consolidation between 1.2805 and 1.2840.
Mexican Peso extends nine-day gains as Gulf War de-escalates
The Mexican Peso extends its gains for the ninth consecutive day on Wednesday, as the US Dollar remains on the back foot amid softer-than-expected US jobs data ahead of the crucial Nonfarm Payrolls report. The USD/MXN trades at 17.24, down 0.10%.
Japan: Passive foreign interest limits upside – BNY
BNY’s Geoff Yu notes that foreign demand for Japanese equities remains subdued compared with interest in JPY and JGBs.
Asian FX: Repricing risk as policymakers resist weakness – DBS
DBS Group Research economist Philip Wee argues that Asian currencies may face repricing risk as global policymakers increasingly resist competitive depreciation.
Euro advances as US labor data disappoints
EUR/USD trades on the front foot near 1.1560 on Wednesday, adding around 0.2% as a weak United States (US) labor market report undermines the US Dollar (USD).