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Australian Dollar pulls back near multi-month highs as traders await RBA Minutes
AUD/USD is pulling back to the 0.7150 region, consolidating just below its recent multi-month highs. Traders are largely focused on the Reserve Bank of Australia (RBA) Minutes due later in the Asian session.
Mon, Aug 24
WTI Price Forecast: 100-day SMA caps upside near $85
West Texas Intermediate (WTI) Oil trades on the back foot on Monday after gaining more than 5% last week. The pullback comes even as the broader backdrop remains largely unchanged, with Middle East tensions elevated and shipping through the Strait of Hormuz still heavily restricted.
Mon, Aug 24
British Pound: Sentiment supports further gains against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret report that the British Pound (GBP) is flat versus the Dollar but outperforming G10 peers despite broad USD strength. With data light, attention turns to PM Burnham’s visit to Kiev and the October 28 budget.
Mon, Aug 24
United States: Spending and inflation outlook – Wells Fargo
Wells Fargo Economics, led by Tom Porcelli and colleagues, expects July consumer spending to rise modestly, with nominal Personal Income up 0.3% and spending up 0.2%. They highlight fading support from tax refunds, leaving demand more reliant on income growth.
Mon, Aug 24
Copper: AI-driven demand reshapes pricing – Societe Generale
Societe Generale’s Commodity Compass Analytics team, led by Michael Haigh and Jeremy Sellem, argues that Copper has been increasingly driven by AI-related demand, arbitrage flows and US trade policy since February 2025.
Mon, Aug 24
Japanese Yen slips as US Dollar stabilizes, US PCE in focus
USD/JPY edges higher on Monday as the US Dollar (USD) finds some stability following last week’s sharp volatility, with geopolitical developments back in focus as the United States prepares to widen secondary sanctions against Iran.
Mon, Aug 24
Canadian Dollar: Trade shock weighs against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note that the Canadian Dollar (CAD) is the main G10 underperformer after US/Canada trade talks collapsed. Ottawa’s pledge to respond to tariffs and provide domestic aid raises uncertainty for Canadian businesses.
Mon, Aug 24
Federal Reserve: Jackson Hole communication focus – Wells Fargo
Wells Fargo Economics argues that Jackson Hole is often overhyped, with only a couple of truly consequential speeches in the past 14 years.
Mon, Aug 24
Bank of Canada: Rates seen on hold then higher – TD Securities
TD Securities expects the Bank of Canada to maintain the Overnight Rate at 2.25% through 2026, despite headline CPI near the top of its target range.
Mon, Aug 24
US President Trump announces tariffs on Canadian autos, trucks and steel
United States (US) President Donald Trump has announced a sharp escalation in the trade fight with Canada, declaring that beginning January 1, 2027, the United States will raise tariffs to 50% on all cars, trucks, automotive parts, and steel imported from its northern neighbor.
Mon, Aug 24
US Dollar: Weakness may stabilize as US growth advantage persists - BBH
Brown Brothers Harriman’s (BBH) Elias Haddad notes that the Treasury’s buyback announcement initially pushed longer-term Treasuries lower, weakened the Dollar and boosted Gold. He argues the USD slump should stabilize this week, with the US growth advantage offsetting fiscal concerns.
Mon, Aug 24
Canadian Dollar slides as Trump escalates trade war with Canada
USD/CAD extends its advance on Monday, trading around 1.3830 at the time of writing, up 0.52% on the day.
Mon, Aug 24
Euro: Rally vulnerable to reversal against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret highlight that the Euro (EUR) is softer against the Dollar (USD) after an almost 3% rally from late July, with price action turning defensive.
Mon, Aug 24
Canada: Tariffs reshape outlook – RBC
Royal Bank of Canada (RBC) analyzes new Section 338 U.S. tariffs on Canadian exports, noting a 50% rate on goods representing about 5% of Canada’s exports to the United States.
Mon, Aug 24
Euro holds ground as US Dollar steadies and markets brace for Iran sanctions
EUR/USD trades flat on Monday as the US Dollar (USD) steadies and markets settle into a calmer tone following the sharp volatility triggered by the US Treasury’s surprise buyback announcement last week. At the time of writing, the pair trades around 1.1670, hovering near levels last seen in mid-May.
Mon, Aug 24
Federal Reserve: Warsh faces a communication test – DBS
DBS Bank strategist Philip Wee argues that Fed Chairman Kevin Warsh’s rejection of forward guidance is amplifying market volatility and complicating the policy mix with the Treasury.
Mon, Aug 24
Reuters: US Treasury's Scott Bessent to announce more sanctions on Iran
The United States (US) Treasury is expected to broaden the scope of secondary sanctions it can impose on entities and countries that maintain business ties with Iran, reports Reuters.
Mon, Aug 24
United States: Sideways growth with stagflation risks – TD Securities
TD Securities strategists expect United States (US) output growth to move sideways in 2026, with their Gross Domestic Product (GDP) tracker at 2.5% quarter-on-quarter annualized and full-year growth slightly below trend at 2.1% Q4/Q4.
Mon, Aug 24
Canadian Dollar: Trade war escalation threatens recent strength – MUFG
MUFG's Derek Halpenny argues the Canadian Dollar’s (CAD) reaction to the new US tariffs on USD 20bn of Canadian exports will hinge on escalation risks rather than the initial measures.
Mon, Aug 24
Euro: Range consolidation against US Dollar as growth gap narrows – Societe Generale
Societe Generale’s Kit Juckes notes EUR/USD has retraced half of its drop from above 1.20 to 1.1325 and is now stuck in a range as markets await fresh US data.
Mon, Aug 24
