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Dogecoin Forecast: DOGE risks falling toward four-year floor price
Dogecoin (DOGE) continues to slide below the $0.0700 mark, in step with the broader market’s prevailing bearish sentiment.
Fri, Jul 31
Bank of Canada: Strong GDP lowers cut risk – TD Securities
TD Securities’ Robert Both and Emma Lawrence note that stronger-than-expected Canadian Gross Domestic Product (GDP) data support a brighter growth outlook but do not materially change their Bank of Canada (BoC) view.
Fri, Jul 31
Japanese Yen: Intervention slows but does not reverse trend – ING
ING’s Chris Turner describes USD/JPY’s rollercoaster, with a 3% drop on reported Japanese intervention followed by a near 2% rebound. He notes that coordinated Fed-Treasury involvement was key in January but now sees the story as having moved on.
Fri, Jul 31
New Zealnd Dollar weakens after China PMI miss as the US Dollar rebounds
NZD/USD trades around 0.5860 on Friday, down 0.33% on the day, as investors react to another deterioration in Chinese business activity.
Fri, Jul 31
Euro: Range seen around mid‑1.15s against US Dollar – Scotiabank
Scotiabank’s FX team notes EUR/USD is drifting toward 1.15 after a Fed‑driven rally, with euro area CPI broadly in line with expectations and French data briefly lifting the Euro. Rate expectations are stabilizing, with about 42 bps of tightening priced by December.
Fri, Jul 31
Japanese Yen strengthens against British Pound amid intervention speculation
GBP/JPY extends its slide on Friday as suspected intervention by Japanese authorities rattles the FX market and lifts the Yen across the board, pushing the cross further away from the multi-year high of 219.16 touched earlier this month.
Fri, Jul 31
Japanese Yen surges amid hawkish BoJ
USD/JPY trades sharply lower near the 159.50 area on Friday as the Japanese Yen (JPY) strengthens following intervention by Japanese authorities and a relatively hawkish Bank of Japan (BoJ) policy announcement.
Fri, Jul 31
Canada: Growth outpaces forecasts – RBC
Royal Bank of Canada (RBC) economists Abbey Xu and Nathan Janzen note that Canadian Gross Domestic Product (GDP) rose 0.3% in May, with an advance estimate of 0.2% for June, indicating a solid second-quarter rebound after winter stagnation.
Fri, Jul 31
United States: Broad-based Q2 GDP strength beyond AI – TD Securities
TD Securities economists Eli Nir and Oscar Munoz highlight that Q2 United States (US) Gross Domestic Product (GDP) growth slowed to 1.5% q/q AR, but underlying private domestic final purchases accelerated to 3.9%.
Fri, Jul 31
Aluminium: Tightness points to higher prices – Commerzbank
Commerzbank’s Norman Liebke highlights that China’s July trade data will be key for base metals, especially Aluminium. Chinese Aluminium output in H1 exceeded the official cap, suggesting production may ease later this year.
Fri, Jul 31
United States Chicago PMI registered at 57.6 above expectations (56) in July
Fri, Jul 31
Japanese Yen: Intervention risk and hawkish BoJ support Yen – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad reports that USD/JPY briefly fell about five big figures to 158.00 on suspected Japanese intervention before rebounding near 161.00 and then dropping again.
Fri, Jul 31
India: RBI hold expectations shape policy outlook – ING
ING economists Deepali Bhargava and Lynn Song expect the Reserve Bank of India to keep the repo rate at 5.25% this week. They note that while June headline inflation rose on higher fuel prices, core inflation remains below target.
Fri, Jul 31
Euro slips back below 1.1500 as US Dollar recovers
The Euro (EUR) weakens against the US Dollar (USD) on Friday as short-covering in the Greenback following the previous day’s sharp sell-off pushes EUR/USD back below 1.1500. At the time of writing, the pair trades around 1.1488, easing from the six-week high of 1.1537 touched on Thursday.
Fri, Jul 31
China: Policy support balances weak PMIs – UOB
UOB economist Ho Woei Chen highlights that China’s July CFLP PMIs slipped into contraction, with both manufacturing and non-manufacturing gauges signaling broad-based weakness in activity. The report notes particularly soft industrial output and services, while construction also declined.
Fri, Jul 31
Canadian Dollar shrugs off upbeat GDP as US Dollar stages a comeback
USD/CAD trades around 1.4045 on Friday at the time of writing, recovering from a two-week low hit on Thursday at 1.3991.
Fri, Jul 31
Chile Industrial Production (YoY) up to 1.3% in June from previous -7.5%
Fri, Jul 31
Chile Unemployment rate meets forecasts (9.4%) in June
Fri, Jul 31
Japanese Yen: BoJ patience keeps wide trading range – TD Securities
TD Securities notes the Bank of Japan (BoJ) left its policy rate at 1% with an 8–1 vote, as Governor Ueda delivered notably hawkish remarks. Despite this, the Japanese Yen (JPY) reaction was muted, and the TD forecasts the next 25 bps hike only in December.
Fri, Jul 31
Breaking: Canada's GDP expanded by 0.3% MoM in May
Canada’s economy cooled a tad in May. Indeed, the Gross Domestic Product (GDP) grew by 0.3%, adding to the previous month's 0.6% expansion (revised from 0.5%), according to data released by Statistics Canada.
Fri, Jul 31
