Asia FX: Stronger Dollar and Oil weigh on CNY and peers – BNY
BNYs Geoff Yu highlights that a stronger US Dollar (USD), higher Oil prices and rising global yields are pressuring Asian currencies and assets.
Gold bulls flinch as NFP puts Fed hawks back in the drivers seat
Gold (XAU/USD) price dives over 0.40% on Monday following last Fridays US jobs report, which ignited speculation that the Federal Reserve (Fed) might resume its tightening cycle if inflation reaccelerates late this week, while the labor market remains solid.
The world has enough Crude Oil and not enough diesel
Crude Oil trades just under $91.00 after adding 1.6% on Monday. The grind has run roughly $10 from the $81.00 area in nine sessions, and not a barrel has stopped being produced in any of them.
Germany: Cautious growth outlook – ABN AMRO
ABN AMROs Chief Economist Germany, Alexander Krüger, notes that German economic output is rising and the bank has raised its Gross Domestic Product (GDP) growth forecast for 2026 to 1.3% and for 2027 to 1.1%.
United States Dollar Index trades under pressure as Yen buying accelerates
The US Dollar Index (DXY), which tracks the Greenbacks value against a basket of six major currencies, extends its decline on Monday as a sharp rally in the Japanese Yen (JPY) outweighs support from elevated geopolitical tensions and Federal Reserve (Fed) interest rate hike expectations.
A German landslide moved the Euro by nothing at all
EUR/USD holds above 1.1600, seven pips above where Monday opened. The pair has had three chances to move over four sessions and has taken none of them. Both central banks are priced to raise rates this month for the same energy shock, and a rate gap that is not moving does not move a currency.
British Pound climbs as USD fades, Hormuz risk keeps Fed in play
The Pound Sterling rises by over 0.23% amid thin trading conditions, as US markets remained closed for the Labour Day weekend, while the US-Iran conflict escalated, with both countries exchanging strikes around the Strait of Hormuz. The GBP/USD trades at 1.3541.
New Zealand Dollar stalls as cautious RBNZ outlook caps NZD/USD
NZD/USD trades around 0.5880 on Monday at the time of writing, posting a modest 0.06% decline on the day after two consecutive days of gains.
USD/CHF Price Forecast: Pair consolidates around the 50-day SMA
USD/CHF trades with a downside bias on Monday as the US Dollar (USD) stays on the defensive, largely due to broad Japanese Yen (JPY) strength. At the time of writing, the pair trades around 0.8091 after retreating from an intraday high of 0.8110.
New Zealand Dollar struggles due to cautious RBNZ policy outlook
NZD/USD depreciates after two days of gains, trading around 0.5880 during European hours on Monday. The pair depreciates as the New Zealand Dollar (NZD) faces pressure from cautious sentiment surrounding the Reserve Bank of New Zealands (RBNZ) policy outlook.
Japan's foreign reserves drop by a record $80 billion in August following yen intervention
Finance ministry data showed that Japan's official foreign reserves stand at $1.207 trillion, down from July's figure of $1.287 trillion.
Japan's foreign reserves drop by a record $80 billion in August following yen intervention
Finance ministry data showed that Japan's official foreign reserves stand at $1.207 trillion, down from July's figure of $1.287 trillion.
Australian Dollar posts fresh three-month high amid hawkish RBA prospects
The Australian Dollar (AUD) trades 0.13% higher at around 0.7217 against the US Dollar (USD) during the European trading session on Monday, the highest level seen in over three months.
US Dollar: Volatility risks around Fed decision – Commerzbank
Commerzbanks Thu Lan Nguyen notes that the latest US labour market report does not materially alter expectations for a September Fed rate move, leaving August US inflation as the key driver.
Euro remains steady above 1.1610 despite weak German Industrial Production data
The Euro (EUR) trades flat against the US Dollar (USD) on Monday, hovering just above 1.1610 at the European session opening, following a reversal from the 1.1640 area last week.
Indian Rupee opens positively at the start of the week
The Indian Rupee (INR) opens higher against the US Dollar (USD) at the start of the week.
WTI Forecast: Bulls eye further gains above $90.50 amid Iran risks
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – kicks off the new week on a positive note amid escalating US-Iran confrontations in the Strait of Hormuz and climbs back above mid-$90.00s during the Asian session.
Canadian Dollar steadies as robust US jobs data counter rising oil prices
The USD/CAD pair trades on a flat note near 1.3835 during the early European session on Monday. The pair steadies as stronger-than-expected US jobs data offsets rising crude oil prices. US markets will be closed on Monday for Labour Day.
EUR/JPY Price Forecast: Declines below 181.50 with emerging oversold RSI
The EUR/JPY cross trades in negative territory around 181.20 during the early European trading hours on Monday. The Japanese Yen (JPY) strengthens against the Euro (EUR) as Japanese official projected a Bank of Japan (BoJ) rate hike this month.
Gold stays pressured as Fed hike bets and Iran tensions support USD
Gold (XAU/USD) remains under some selling pressure for the second straight day on Monday, though it shows some resilience below the $4,400 mark during the Asian session.
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