Australia Forex Today: Australian Dollar extends gains ahead of Consumer Confidence
The Australian Dollar (AUD) starts the week on a positive note against the US Dollar (USD), with AUD/USD trading around 0.6590, up approximately 0.5% over the session, following upbeat Chinese trade data and a weakening of the Greenback due to softer employment indicators and rising expectations of
WTI Price Forecast: Oil eases after failed attempt to reclaim $63 handle
WTI (West Texas Intermediate) Crude Oil edges lower on Monday, trimming earlier gains after a brief rebound from last week’s three-month low.
EUR/GBP edges lower as France confidence vote puts Euro under pressure
The Euro (EUR) is trading under pressure against the British Pound (GBP) on Monday, with EUR/GBP hovering above 0.8660 at the time of writing. The cross remains subdued as traders adopt a wait-and-see stance ahead of a crucial confidence vote in France later on the day.
Will Nonfarm Payrolls revisions hint at a 50 bps Fed cut next week?
The United States (US) Bureau of Labor Statistics (BLS) will publish the 2025 preliminary benchmark revision to the Establishment Survey Data on Tuesday, September 9.
JPY is weak and underperforming – Scotiabank
The Japanese Yen (JPY) is weak, down 0.3% against the US Dollar (USD) and underperforming all of the G10 currencies to start the week, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret report.
EUR quiet ahead of ECB Thursday – Scotiabank
The Euro (EUR) is quietly consolidating in a tight range and entering Monday’s NA session unchanged from Friday’s close, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret report.
Gold rallies rallies toward $3,650 on safe-haven demand and Fed easing bets
Gold (XAU/USD) begins the week on an impressive bullish note, soaring to fresh all-time highs above $3,600 per ounce on Monday.
USD/JPY: Likely to trade in a range between 146.55 and 149.55 – UOB Group
Rapid advance in US Dollar (USD) has scope to test 148.80 before leveling off; 149.55 is unlikely to come under threat. In the longer run, outlook is mixed; USD could trade in a range between 146.55 and 149.55 for now.
NZD/USD Price Forecast: Soars to near 0.5930 amid risk-on market sentiment
The NZD/USD pair trades 0.66% higher to near 0.5930 during the European trading session on Monday. The Kiwi pair strengthens as the New Zealand Dollar (NZD) outperforms its peers amid cheerful market sentiment.
USD soft but steady after payrolls – Scotiabank
The USD slumped in response to the weak US NFP data Friday and it retains a soft undertone today. The 22k gain in August jobs was well below expectations and downward revisions to the prior data left the 3 month average job gain at 29k.
WTI crude prices rise to $62.80 as OPEC+ dials down supply hike plans
Crude Oil is trading higher on Monday, amid news reporting that the next OPEC+ supply hike scheduled for October will be lower than previously expected, while the recent attacks in Ukraine have raised speculation about further sanctions on Russian crude.
NZD/USD: For a continued rise, NZD must first close above 0.5930 – UOB Group
Instead of continuing to rise, New Zealand Dollar (NZD) is more likely to range trade between 0.5855 and 0.5915. In the longer run, for a continued rise, NZD must first close above 0.5930, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
Japanese Prime Minister resigns – Commerzbank
Following the disastrous results of the Upper House election in July and the accompanying loss of the majority, it was only a matter of time before the pressure on Japanese Prime Minister Shigeru Ishiba became too great and he resigned.
USD/CAD Price Forecast: Corrects to near 1.3800 as Fed rate cut bets weigh on US Dollar
The USD/CAD pair retraces to near 1.3800 at the start of the week from its weekly high of 1.3855 posted on Friday.
USD/CNH holds above 7.12 as China tade data disappoints – BBH
USD/CNH is holding above key support at 7.1200, BBH FX analysts report.
USD: Overseas politics provides some dollar support – ING
Friday’s August jobs data was again on the soft side. It was soft enough to have the market starting to speculate whether the Federal Reserve would restart its easing cycle with a 50bp rate cut – as it did last September.
USD/JPY retreats to 147.50 as markets digest PM Ishiba’s resignation
US Dollar’s upside attempts against the Japanese Yen have been capped right below 148.60, and the pair retreated to session lows at 147.50 as the Yen regained lost ground following Japanese Prime Minister Ishiba’s resignation.Ishiba announced earlier on the day of his decision to step down, followin
GBP: Political reshuffle won’t distract attention from Gilts – ING
Pound Sterling (GBP) is holding steady, ING’s FX analyst Chris Turner notes.
EUR/USD: Likely to consolidate between 1.1680 and 1.1740 – UOB Group
Euro (EUR) is likely to consolidate between 1.1680 and 1.1740. 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.
China’s central bank adds more Gold in August – ING
China’s central bank continued to add Gold to its reserves for a tenth straight month in August, ING’s commodity experts Ewa Manthey and Warren Patterson note.