FX

Share: European Central Bank (ECB) policymaker and Bundesbank Chief Joachim Nagel commented on the interest rate outlook during his scheduled appearance on Thursday. Nagel said that “rates must stay sufficiently high for sufficiently long.” Market reaction At the time of writing, EUR/USD is trading near 1.0660, attempting recovery from six-month lows, modestly flat on the day.
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Share: Kiwi holding near the middle, set to finish Friday near where it started. Market flows are firmly in the hands of the US Dollar. Risk sentiment getting limited knock-on positive support from upbeat China outlook. The NZD/USD is set to finish Friday on a slight downstep, trading into the 0.5900 level and unable to find
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Share: USD/SEK increased more than 0.60% towards 11.2000, its highest since November 2022. Sweden’s August CPI came in lower than expected. The USD’s strengths amid strong economic figure contributes to the upward momentum. The USD/SEK tallied a fresh multi-month high around 11.2000 as the SEK lost interest following soft inflation figures from Sweden from August. On
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Share: CME Group’s flash data for natural gas futures markets noted traders scaled back their open interest positions for the third straight session on Wednesday, now by around 20.5K contracts. In the same line, volume reversed two daily builds in a row and went down by more than 29K contracts. Natural Gas: Next on the
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Share: The USD/CNY took a dip back in market action on Wednesday. Bullish momentum remains firm for the Greenback despite defensive posturing in Chinese rhetoric. Emerging markets continue to suffer against advanced economy currencies. The Chinese Yuan (CNY) continues to struggle, with the USD/CNY pair sticking above the 7.2600 level despite slipping lower on Wednesday,
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Share: Downward momentum in GBP/USD seems to have lost some traction as of late, according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang. Key Quotes 24-hour view: Yesterday, we held the view that GBP “could test 1.2555 before leveling off.” However, GBP traded in a relatively quiet manner between 1.2460 and
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