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Japanese Yen declines as upbeat US PMI lifts the US Dollar, yields
The Japanese Yen (JPY) extends its decline against the US Dollar (USD) on Wednesday, with USD/JPY climbing to a three-week high as the hawkish Federal Reserve (Fed) outlook keeps the Greenback in demand. At the time of writing, the pair trades around 158.18, up 0.50% on the day.
Wed, Sep 23
US 10-year yield hits a 19-year high as Fed Governor Barr backs hikes
Fed Governor Barr made the case for more rate increases, saying the risks to getting inflation back to 2% have grown while the risks to jobs have eased.
Wed, Sep 23
Dow Jones Industrial Average keeps sliding as yields climb on a strong PMI
The strongest S&P Global flash Purchasing Managers Index (PMI) readings since 2021 have done nothing for the Dow Jones Industrial Average. Manufacturing came in at 57 against a 53.5 forecast and services at 58.7 against 56.
Wed, Sep 23
New Zealand Dollar tumbles as strong US PMI data lifts USD
NZD/USD tumbles on Wednesday, losing 1.00% on the day to trade around 0.5670 at the time of writing. The pair faces strong selling pressure as the US Dollar (USD) benefits from stronger-than-expected United States (US) activity data, reinforcing expectations of further interest-rate hikes.
Wed, Sep 23
British Pound cracks as US growth burst sends US Dollar higher
The Pound Sterling tanks over 0.70% against the Greenback on Wednesday as US economic data showed business activity is picking up, while fears of a US diesel export ban pushed crude prices higher. The GBP/USD trades at 1.3253 after peaking at 1.3347.
Wed, Sep 23
WTI snaps five-day losing streak as US-Iran talks fall short of breakthrough
West Texas Intermediate (WTI) Oil rebounds on Wednesday after five straight days of losses as traders assess the latest Middle East developments and US inventory data.
Wed, Sep 23
Iran reviews US response to proposal aimed at ending hostilities
Iran is reviewing the United States’ (US) response to its proposal aimed at ending hostilities, a senior Iranian official told Reuters on Wednesday, signaling that diplomatic efforts between Tehran and Washington remain underway.
Wed, Sep 23
Euro slides as strong US PMI data lifts Fed rate hike bets
EUR/USD extends its intraday decline on Wednesday as stronger-than-expected US business activity data reinforces expectations of another Federal Reserve (Fed) rate hike and lifts the US Dollar (USD). At the time of writing, the pair trades around 1.1401, near levels last seen in late July.
Wed, Sep 23
Brazil: Growth outlook and inflation risks – Societe Generale
Societe Generale’s Dev Ashish reviews Brazil’s updated macro-fiscal projections from the Finance Ministry, highlighting lower GDP forecasts for 2026-27, persistent household debt-service burdens and a less supportive external backdrop.
Wed, Sep 23
Fed's Barr: Further rate hikes needed for timely return to 2% inflation
Federal Reserve (Fed) Governor Michael Barr said on Wednesday that the central bank will likely need to raise interest rates further to ensure a timely return to the 2% inflation target.
Wed, Sep 23
Australian Dollar tumbles amid stronger US PMIs, softer Australian data
AUD/USD tumbles 1.07% on Wednesday and trades around 0.7040 at the time of writing, pressured by a combination of a stronger US Dollar (USD) and disappointing activity data from Australia.
Wed, Sep 23
WTI: Headline risk rises as positioning stays elevated - TD Securities
TD Securities’ Ryan McKay and Bart Melek note West Texas Intermediate (WTI) Crude prices are holding relatively strong despite intense headline risk and elevated speculative positions, with CTAs (Commodity Trading Advisors) adding back length rather than cutting exposure.
Wed, Sep 23
India: Russian dependence and security focus – Standard Chartered
Standard Chartered economists Anubhuti Sahay and Saurav Anand highlight India’s rapidly rising reliance on Russian Oil, now at 44% of crude imports since the Middle East crisis, up from 2% in 2021.
Wed, Sep 23
Canadian Dollar: Bearish trend targets 1.4125 – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret highlight that the Canadian Dollar (CAD) is marginally weaker versus the US Dollar (USD), with USD/CAD at its highest since late July. They stress wide yield spreads and typical negative Q4 seasonality as key headwinds for CAD.
Wed, Sep 23
Swiss Franc weakens ahead of SNB rate decision
USD/CHF edges higher on Wednesday, snapping a four-day losing streak as the US Dollar (USD) continues to attract buying following the Federal Reserve’s (Fed) hawkish rate hike at its September 15-16 policy meeting.
Wed, Sep 23
British Pound: BoE repricing risk keeps Pound vulnerable – BBH
According to Elias Haddad at Brown Brothers Harriman, GBP/USD is lower on broad Dollar strength and EUR/GBP is slightly firmer after weaker United Kingdom (UK) September Purchasing Managers' Index (PMI).
Wed, Sep 23
Oil rebounds above $90: Why is the Canadian Dollar still falling?
USD/CAD extends its advance on Wednesday and trades around 1.4090 at the time of writing, up 0.21% on the day. The pair remains close to its recent highs, supported by a firm US Dollar (USD), while the Canadian Dollar (CAD) struggles to recover losses from the recent decline in Oil prices.
Wed, Sep 23
Euro: Downside bias toward 1.1400 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann keep a negative stance on EUR/USD after the pair closed at 1.1447. They see scope for further Euro (EUR) weakness, with intraday support at 1.1415 and a key level at 1.1400, though they doubt a sustained break lower.
Wed, Sep 23
Ripple Price Forecast: XRP accelerates gains amid heavy whale accumulation and ETF inflows
Ripple (XRP) ticks higher on Wednesday and trades near $1.60, aligning with the broader crypto market’s bullish outlook. The token builds on a strong technical outlook, reinforced by uptrending moving averages and key momentum indicators.
Wed, Sep 23
Gold: Next leg higher toward $5,000 – TD Securities
TD Securities’ Ryan McKay argues Gold is entering a new bullish phase, with speculative, ETF and central bank flows reinforcing resilience despite further Fed hikes.
Wed, Sep 23
