China imported more crude oil and exported a high volume of oil products in August – Commerzbank
China imported 49.49 million tons of crude oil in August, according to data from the Chinese customs authority, Commerzbank’s commodity analyst Carsten Fritsch notes.
LME Aluminium cancelled warrants jump to June highs – ING
Aluminium cancelled warrants on the LME surged by 32,000 tonnes to 42,850 tonnes, the highest since early June, marking the largest daily increase since January.
NZD/USD: Overbought conditions may limit any gains to a test of 0.5960 – UOB Group
Strong momentum indicates further New Zealand Dollar (NZD) strength; overbought conditions may limit any gains to a test of 0.5960.
AUD/USD approaches key resistance at 0.6625 – BBH
AUD/USD is testing resistance near 0.6625 as resilient global activity and Australia’s labor market trends support expectations for a slower pace of RBA easing.
AUD/USD: Any advance is unlikely to reach 0.6625 – UOB Group
Strong momentum suggests Australian Dollar (AUD) could continue to rise; with negative divergence forming, any advance is unlikely to reach 0.6625.
CHF: SNB seems more tolerant of CHF strength – ING
In a wide-ranging magazine interview released yesterday, Swiss National Bank Governor Martin Schlegel seemed a little more tolerant of Swiss franc strength, ING’s FX analyst Chris Turner notes.
USD mixed ahead of key BLS payroll revisions – BBH
The US Dollar (USD) is trading mixed as investors await the Bureau of Labor Statistics’ benchmark revisions, which could slash reported payroll growth by as much as 700k over the past year.
GBP/USD: Major resistance at 1.3595 is likely out of reach – UOB Group
Pound Sterling (GBP) could continue to rise; the major resistance at 1.3595 is likely out of reach. In the longer run, the current price movements are likely part of a broad range between 1.3430 and 1.3595, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
European Gas prices jump 3.5% on Russia sanction fears – ING
European natural gas prices surged as geopolitical tensions escalated, with TTF futures rising nearly 3.5% amid reports the EU may impose fresh sanctions on Russian banks and energy firms.
EUR/USD: Unlikely to be able to break clearly above 1.1790 – UOB Group
Slight increase in momentum could lead to Euro (EUR) edging higher, but it is unlikely to be able to break clearly above 1.1790. In the longer run, EUR could rise but any advance is likely part of a higher range of 1.1650/1.1790, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
Spain 9-Month Letras Auction rose from previous 1.959% to 1.968%
Spain 9-Month Letras Auction rose from previous 1.959% to 1.968%
Spain 3-Month Letras Auction fell from previous 1.929% to 1.909%
Spain 3-Month Letras Auction fell from previous 1.929% to 1.909%
EUR/GBP Price Forecast: Bears are pushing against the 0.8660 support area
The Euro is heading lower against the British Pound on Tuesday. The pair has retraced the last two days’ recovery and is extending last week’s reversal from 0.8710 highs to levels near 0.8660 so far.Investors’ concerns about the political crisis in France are weighing on the common currency.
AUD/USD rebound extends toward key July high at 0.6625 – Société Générale
AUD/USD is building on last month’s rally from 0.6410, reclaiming its 50-day moving average and testing resistance at the July high of 0.6625.
Dow Jones futures inch higher due to rising odds of a bumper Fed rate cut
Dow Jones futures move little, edging up 0.05% to trade around 45,600 during European hours on Monday, ahead of the United States (US) market open. Meanwhile, the S&P 500 futures advance 0.13% to trade above 6,500, while Nasdaq 100 futures climb 0.23% to trade near 23,850.
US payrolls benchmark revision promises more excitement than usual – Commerzbank
There are two possible reasons for the rise in UST yields: 1) The supply of government bonds in Western countries has continued to rise in recent years, causing yields to rise. 2) The market expects the Fed to cut interest rates, thereby fuelling inflationary pressure and forcing it to raise interes
USD/INR rebounds strongly despite weak US job demand batters US Dollar
The Indian Rupee (INR) gives back early losses against the US Dollar (USD) on Tuesday.
USD/CAD Price Forecast: Likely to find resistance at the 1.3825 area
The US Dollar is trading higher for the fourth consecutive day against the Canadian Dollar.
Forex Today: Gold corrects from record-high, USD awaits key data releases
Here is what you need to know on Thursday, September 4:
AUD/JPY Price Forecast: Tests confluence support zone near 96.50, nine-day EMA
AUD/JPY halts its winning streak that began on August 21, trading around 96.70 during the early European hours on Thursday. The technical analysis of the daily chart shows that the currency cross is positioned within the ascending channel pattern, suggesting a prevailing bullish bias.