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Indonesian Rupiah: Policy uncertainty weighs on IDR against US Dollar – ING
ING economists Deepali Bhargava and Lynn Song flag renewed policy uncertainty for the Indonesian Rupiah (IDR) after the surprise resignation of Bank Indonesia’s (BI) governor, just as sentiment toward Indonesian assets was improving.Fxstreet
Thu, Aug 6
British Pound: Sentiment offsets softer spreads – Scotiabank
Scotiabank’s team notes the Pound is fractionally weaker versus the Dollar, with fundamentals less supportive as yield spreads soften. However, sentiment is improving as markets fade earlier political concerns following PM Burnham’s arrival and stronger-than-expected construction PMI.
Fxstreet
Thu, Aug 6
Hormuz ship ban triggers a jump in US yields, fuels Fed hike bets
US Treasury yields climb along the curve as the Oman-Iran deal, which banned US and Israeli ships, whether military or civilian, from entering the Persian Gulf, drives crude prices higher, and as traders await the latest employment report.Fxstreet
Thu, Aug 6
China: Consumption risks under stable unemployment – Standard Chartered
Standard Chartered economists Hunter Chan and Shuang Ding highlight that China’s urban surveyed unemployment rate has remained in a 5.0-5.4% range over the past three years, yet broader labour underutilisation has risen.Fxstreet
Thu, Aug 6
United Kingdom: Confidence may unlock household spending – Rabobank
Rabobank’s Stefan Koopman analyses United Kingdom demand prospects under Prime Minister Burnham’s shift from “securonomics” to “vibonomics”. The report argues that elevated household saving and weak confidence leave scope for a temporary consumption boost if sentiment improves.Fxstreet
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.
Czech Koruna: Softer CNB guidance may weigh against euro – ING
ING strategist Frantisek Taborsky says July Czech inflation at 1.7% year-on-year should have limited impact on the Czech National Bank (CNB) meeting. He expects rates to stay at 3.75%, with guidance leaning more dovish than markets.Fxstreet
Thu, Aug 6
Equities: Nvidia stands out as broader tech mood cools – Deutsche Bank
Deutsche Bank strategists say the global equity rally lost momentum near record highs as technology shares weakened. The S&P 500 edged lower and the Nasdaq underperformed, with AMD and semiconductor stocks retreating after recent gains.
Fxstreet
Thu, Aug 6
Australian Dollar: RBA uneasy pause – Standard Chartered
Standard Chartered’s Nicholas Chia expects the Reserve Bank of Australia (RBA) to keep the cash rate at 4.35% at its 11 August meeting, with no further hikes this year. Q2 core inflation and short-term expectations have eased, while the labour market has softened.Fxstreet
Thu, Aug 6
Canadian Dollar flatlines as traders watch possible US-Iran deal
The USD/CAD pair USD/CAD holds steady around 1.4015 during the early European trading hours on Thursday. Traders await a possible US-Iran deal, which could give direction to the pair. The US Initial Jobless Claims report is due later on Thursday.
Fxstreet
Thu, Aug 6
Indonesian Rupiah in focus as BI leadership race begins
USD/IDR inches higher after registering nearly 0.5% losses in the previous day, trading around 17,960 during the Asian hours on Thursday. Traders are keeping a close eye on the nomination process following the sudden resignation of Bank Indonesia (BI) Governor Perry Warjiyo late last month.Fxstreet
Thu, Aug 6
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