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US Dollar: Limited upside as fiscal plans questioned – MUFG
MUFG’s Derek Halpenny notes that the US Dollar has weakened as investors focus on potential US Treasury measures to stem the decline in Treasury yields, while Japanese inflation data supports expectations for a 25bp BoJ rate hike in September.
Fri, Aug 21
Chainlink Price Forecast: LINK hits seven-month highs amid strong DeFi, institutional demand
Chainlink (LINK) is up roughly 8% at press time on Friday, extending its rally to a seven-month high with over 20% so far this week.
Fri, Aug 21
United Kingdom: Burnham sentiment bounce – Deutsche Bank
Deutsche Bank strategists highlight a sharp improvement in sentiment towards Prime Minister Burnham and Labour.
Fri, Aug 21
S&P Global US PMIs expected to ease slightly in August, still showing solid growth
S&P Global will release the preliminary figures of August’s United States Purchasing Managers' Indices (PMIs), a report collecting top private sector executives' opinions about business conditions, to provide an early indication of momentum in the world’s largest economy.
Fri, Aug 21
Crypto Today: Bitcoin, Ethereum, XRP bulls accelerate rally amid rising ETF inflows
The cryptocurrency market remains bullish on Friday, led by Bitcoin’s (BTC) surge above $77,000. Altcoins, including Ethereum (ETH) and Ripple (XRP), mirror BTC’s positive outlook, trading near $2,400 and $1.35, respectively.
Fri, Aug 21
United States: Yields risk renewed surge – Rabobank
Rabobank's Senior US Strategist Philip Marey discusses United States (US) Treasuries, noting that the Treasury Department’s surprise move to boost buybacks of longer-term bonds has only briefly interrupted rising yields.
Fri, Aug 21
1.3670: British Pound hits six-month highs as UK PMI beats expectations
The British Pound (GBP) rallied to fresh six-month highs against the US Dollar (USD) on Friday, boosted by stronger-than-expected UK business activity data, while the US Dollar remains depressed following the US Treasury’s plan to boost bond buybacks.
Fri, Aug 21
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Friday, according to FXStreet data. Silver trades at $69.94 per troy ounce, up 2.67% from the $68.12 it cost on Thursday.
Fri, Aug 21
Swedish Krona: Riksbank keeps tightening option open – Commerzbank
Commerzbank’s Antje Praefcke reports that the Riksbank left its policy rate at 1.75% and maintained a restrictive stance, still seeing a hike later this year as likely.
Fri, Aug 21
ECB’s Kazāks: Central bank is well placed to act if needed to get inflation to 2%
European Central Bank (ECB) Governing Council member Mārtiņš Kazāks said during the European trading session on Friday that the central bank won’t hesitate to act if needed to bring Eurozone inflationary pressures down to the 2% target.
Fri, Aug 21
Japanese Yen: Weakness offsets intervention impact – MUFG
MUFG's Michael Wan notes that US longer-end yields have returned close to pre-buyback levels, with the 10-year at 4.7% and 30-year at 5.24%, weighing on risk assets.
Fri, Aug 21
WTI Price Forecast: Oil supply tightness supports further upside above $90
West Texas Intermediate (WTI), futures on NYMEX, trade flat near $86.00 during the European trading session on Friday, closer to its over three-week high of $87.38 posted the previous day.
Fri, Aug 21
US Dollar: Softer bias with pro-risk flows – ING
ING’s Chris Turner, Francesco Pesole and Frantisek Taborsky argue that recent US Treasury buy-backs are primarily a signalling tool against high yields, pointing to a softer Dollar in a risk-friendly environment.
Fri, Aug 21
Euro steadies against British Pound as strong PMIs offer support on both sides
EUR/GBP trades around 0.8570 on Friday at the time of writing, virtually unchanged on the day.
Fri, Aug 21
Japanese Yen sticks to gains amid hawkish BoJ bets as USD stays weak on Fed expectations
The USD/JPY pair struggles to capitalize on the previous day's recovery from the 158.00 mark, or a one-and-a-half-week low, and meets with fresh supply on Friday.
Fri, Aug 21
Federal Reserve: Backstop doubts and high intervention bar – BNY
BNY’s David Tam stresses that while the Federal Reserve retains legal capacity to support corporate credit, the current Warsh Fed is unlikely to repeat Covid‑era interventions.
Fri, Aug 21
Polish Zloty: Inflation re-acceleration weighs on PLN – Commerzbank
Commerzbank’s Tatha Ghose highlights growing challenges for Polish policymakers, citing stretched fiscal plans and accelerating underlying inflation.
Fri, Aug 21
United Kingdom flash Services PMI expands faster to 52.8 in August, beats 51.8 estimates
The United Kingdom (UK) S&P Global Composite Purchasing Managers' Index (PMI) surprisingly expanded at a faster pace to 52.5 in August due to robust service sector activity.
Fri, Aug 21
Japanese Yen: Range-bound with mild upside against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang notes USD/JPY at 159.00 rebounded sharply from 158.00, but now looks set to trade between 158.50 and 159.35 intraday.
Fri, Aug 21
Euro holds near three-month highs as Eurozone Flash PMIs beat expectations
The Euro (EUR) is trading a few pips below 1.1700 against a depressed US Dollar (USD) on Friday, on track for a more than 1% weekly rally, and with the three-month high of 1.1710 at a short distance.
Fri, Aug 21
