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United Kingdom: Polling bounce faces October test – Standard Chartered
Standard Chartered’s Christopher Graham analyzes recent United Kingdom (UK) polling, noting Labour has regained a lead over Reform UK and Conservatives after Andy Burnham became prime minister.
Thu, Aug 6
United States: Core CPI momentum seen returning in July – TD Securities
TD Securities economists expect United States (US) July Core Consumer Price Index (CPI) to return to trend after June’s one-off weakness.
Thu, Aug 6
Mexican Peso: Carry flows outpace fundamentals – BNY
BNY’s Geoff Yu highlights that Mexican Peso (MXN) carry demand is surging ahead of Banxico’s decision, with MXN the best-bought currency on a weekly basis. However, weak volumes, deteriorating equity flows and only modest sovereign bond demand temper the story.
Thu, Aug 6
Australian Dollar: Modest upside bias into 12 months – Rabobank
Rabobank’s Senior FX Strategist Jane Foley notes AUD/USD has trended higher since July, mainly due to a softer US Dollar (USD), with the Australian Dollar (AUD) mid-pack versus G10 peers.
Thu, Aug 6
US Initial Jobless Claims increased to 199K last week
According to a report from the US Department of Labour (DOL) released on Thursday, the number of US citizens submitting new applications for unemployment insurance rose marginally to 199K for the week ending August 1.
Thu, Aug 6
Swedish Krona: Hotter core supports SEK against Euro – ING
ING’s FX Strategist Francesco Pesole notes Sweden’s core CPIF excluding energy rose to 0.6% in July, giving the Swedish Krona (SEK) a modest boost, while headline inflation slowed as expected.
Thu, Aug 6
XRP Price Forecast: Sell-off persists, bears aim for $1.00 as Ripple eyes on-chain multi-signature upgrade
Ripple (XRP) remains pressured, trading below $1.05 at the time of writing on Thursday. The token has declined for the fourth consecutive day this week, reflecting lethargic sentiment in the broader cryptocurrency market despite the possibility of easing geopolitical tensions in the Middle East.
Thu, Aug 6
Japanese Yen: Retail flows reshape post-intervention dynamics – MUFG
MUFG notes that USD/JPY remains well below pre-intervention levels. Japanese retail traders entered the episode with a record short position in the pair and likely covered those positions during the intervention-led decline, partially offsetting official yen purchases.
Thu, Aug 6
GBP/JPY Price Forecast: 200-day SMA holds as downside risks linger
GBP/JPY trades in a narrow range on Thursday, with the British Pound (GBP) modestly outperforming the Japanese Yen (JPY). The Yen stays on the back foot for a third consecutive day, reversing part of the intervention-driven rally that briefly sent GBP/JPY below 210.00 at the start of the week.
Thu, Aug 6
Indian Rupee: Lower oil and inflows support INR against US Dollar – OCBC
OCBC’s Christopher Wong and Sim Moh Siong highlight that the Reserve Bank of India's (RBI) decision to hold the repo rate at 5.25% while lowering inflation forecasts and nudging growth higher, alongside strong capital inflows, has put India’s balance of payments on track for a healthy surplus.
Thu, Aug 6
Australian Dollar: AAA rating intact but growth risks linger – BNY
BNY’s Geoff Yu reports that S&P has affirmed Australia’s AAA rating with a stable outlook, citing strong institutions and modest public debt. The agency expects deficits to remain contained and net debt to stabilize over the forecast horizon.
Thu, Aug 6
Czech Koruna: Sideways against Euro as CNB holds rates – Commerzbank
Commerzbank’s Tatha Ghose expects the Czech National Bank (CNB) to keep its policy rate at 3.75%, framing June’s hike as fine-tuning rather than a new cycle. With headline and core inflation still within target, CNB can wait but must avoid sounding dovish.
Thu, Aug 6
Euro edges down while US NFP takes centre stage
The Euro (EUR) trades marginally lower at around 1.1545 against the US Dollar (USD) during the European trading session on Friday. The major currency pair edges down as the US Dollar ticks up, while investors shift their focus to the United States (US) Nonfarm Payrolls (NFP) data release on Friday.
Thu, Aug 6
British Pound treads water above 1.3450 with markets awaiting US employment figures
The British Pound (GBP) holds marginal losses against the US Dollar (USD) on Thursday, trading at 1.3460 at the time of writing, down from Wednesday's highs at 1.3486.
Thu, Aug 6
Gold: Hormuz optimism supports rally – ING
ING’s Warren Patterson and Ewa Manthey highlight a sharp Gold rally of more than 4%, with prices moving closer to $4,300/oz as optimism grows that a US-Iran agreement and lower energy prices will ease inflation.
Thu, Aug 6
US Dollar: Relief rallies seen shallow – BBH
Brown Brothers Harriman’s Elias Haddad notes that the US Dollar (USD) has recovered part of its recent losses as concerns over the Federal Reserve’s (Fed) credibility ease, but sees limited scope for a sustained rebound.
Thu, Aug 6
Gold steadies near seven-week high as markets await Strait of Hormuz deal
Gold (XAU/USD) consolidates its recent gains on Thursday after briefly climbing above $4,300 as the US Dollar (USD) steadies while traders await confirmation of a possible Iran-Oman agreement on the Strait of Hormuz. At the time of writing, XAU/USD trades around $4,270, up 0.53% on the day.
Thu, Aug 6
Crypto Today: Bitcoin and Ethereum gain ground as XRP extends decline amid potential Iran-Oman deal
The cryptocurrency market is somewhat lethargic on Thursday, with Bitcoin (BTC) approaching $65,000, Ethereum (ETH) holding above $1,900 while Ripple (XRP) trades under pressure around $1.05.
Thu, Aug 6
Silver Price Forecast: XAG/USD clings to gains near $62 with US NFP in focus
Silver price (XAG/USD) holds onto two-day gains at around $62.00 during the European trading session on Thursday. The white metal trades firmly amid hopes of a further decline in oil prices.
Thu, Aug 6
Pudgy Penguins Price Forecast: PENGU eyes breakout as bullish derivatives signals emerge
Pudgy Penguins (PENGU) nears the key 50-day Exponential Moving Average (EMA) at $0.0063 on Thursday, with a break above it potentially signaling further gains. Improving derivatives metrics and a constructive technical outlook suggest momentum is building, hinting at a possible breakout.
Thu, Aug 6
