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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
New Zealand Dollar: Extreme shorts face a high bar for further losses – MUFG
MUFG’s Derek Halpenny sees a tension between aggressive Reserve Bank of New Zealand (RBNZ) tightening expectations and increasingly stretched short positioning in the New Zealand Dollar (NZD).
Fri, Aug 21
Canadian Dollar stands firm near three-month high vs weak USD ahead of data
The USD/CAD pair remains under some selling pressure for the third consecutive day and trades near a three-month low, just above mid-1.3700s during the first half of the European session on Friday.
Fri, Aug 21
Eurozone flash Manufacturing PMI rises unexpectedly faster-than-estimates to 52.8 in August
Preliminary HCOB Manufacturing Purchasing Managers’ Index (PMI) in the Eurozone expands at a surprisingly faster pace to 52.8 in August from 51.9 in July. Manufacturing activity was anticipated to expand but at a moderate pace to 51.8.
Fri, Aug 21
Swiss Franc: Funding role grows as volatility stays low – ING
Chris Turner at ING explains that USD/CHF’s sharp drop after the US Treasury buy-back announcement was mainly position adjustment after a hawkish Fed narrative had favoured longs.
Fri, Aug 21
US Dollar: Consolidation around 99.00 after buyback news – DBS
DBS Group Research economist Chang Wei Liang notes that the Dollar has firmed slightly as US Treasury yields recover, with DXY consolidating near 99.00 after the US Treasury expanded long-end bond buybacks.
Fri, Aug 21
Dow Jones futures gain as traders weigh US debt buybacks against surging oil prices
Dow Jones futures gain 0.13% to trade above 52,900 during European hours on Friday. Meanwhile, S&P 500 futures remain up by 0.18%, to trade near 7,680, and Nasdaq 100 futures advance by 0.38% to trade above 29,400.
Fri, Aug 21
Euro remains weaker against Canadian Dollar following German PMI data
EUR/CAD extends its losses for the second successive day, trading around 1.6100 during the European hours on Friday. The currency cross depreciates as the Euro (EUR) holds losses following the release of HCOB Purchasing Managers’ Index (PMI) data from Germany.
Fri, Aug 21
Japanese Yen: September BoJ risk builds – Commerzbank
Volkmar Baur at Commerzbank argues that July inflation and strong Purchasing Managers' Index (PMI) data in Japan suggest price dynamics would not block a Bank of Japan (BoJ) rate hike.
Fri, Aug 21
Germany’s flash Manufacturing PMI unexpectedly rises faster to 54.1 vs. 52.0 estimates
German flash HCOB Composite PMI rises at a moderate pace to 51.0 in August amid a slowdown in the services sector. The Composite PMI was expected to remain steady at 51.3.
Fri, Aug 21
British Pound: Upward momentum targets 1.3700 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang reports GBP/USD at 1.3640 remains supported after breaking key resistance levels, with intraday gains likely capped between 1.3605 and 1.3670.
Fri, Aug 21
Euro: Gentle upside against US Dollar as greenback softens - ING
ING’s Chris Turner says EUR/USD remains well supported by broad Dollar softness. Expected mild eurozone growth in the August PMIs and elevated inflation expectations keep the case for another European Central Bank (ECB) hike alive.
Fri, Aug 21
British Pound trades firmly against Japanese Yen ahead of UK flash PMI data
The British Pound (GBP) holds onto Thursday’s gains at around 217.00 against the Japanese Yen (JPY) during the European trading session on Friday.
Fri, Aug 21
AUD/USD Price Forecast: Hits fresh high since June as bulls eye gains beyond 0.7150
The AUD/USD pair regains positive traction following the previous day's dismal Aussie jobs data-led modest fall and climbs to a fresh high since early June during the first half of the European session.
Fri, Aug 21
Silver Price Forecasts: XAG/USD hits highs past $69.00 amid US Dollar weakness
Silver (XAG/USD) rallies for the third consecutive day on Friday, hitting fresh two-month highs above $69.00 in the early European session.
Fri, Aug 21
Indian Rupee: Higher profile after hawkish RBI – MUFG
MUFG’s Michael Wan highlights that FX measures to attract US Dollar (USD) inflows into India have significantly lowered Indian Rupee (INR) rates via added liquidity, with limited impact on USD/INR.
Fri, Aug 21
Euro holds gains against British Pound after weaker UK Retail Sales data
The EUR/GBP cross posts modest gains to around 0.8570 during the early European session on Friday. The British Pound (GBP) edges slightly lower against the Euro (EUR) following disappointing UK economic data.
Fri, Aug 21
United States Dollar Index remains below 99.00 as 10-year US yield steadies
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is holding losses after registering minor gains in the previous day and trading around 98.80 during the early European hours on Friday.
Fri, Aug 21
